Report of financial statements

On July 31, 2006 the “Inspección General de Justicia” (“IGJ”), the office in charge of the Public Registry of Commerce of the City of Buenos Aires, issued General Resolution No 6/2006 which determines the scope of the information that the report of the fiscal year’s financial statements must contain, in compliance with Section 66, subsections 1, 5 and 6, of the Argentine Companies Law.

Resolution No 6/2006 establishes that the report of the financial statements must include: the company’s policy, grounds, objectives and results; long term contractual and non-contractual relationships with other companies; ratios referring to the structure of assets, current capital and profitability; shareholders’ contributions and/or other financial resources; and an explanation of management planning from controlling entities and for controlled entities.

This resolution is applicable to all corporations and those limited liability companies whose capital amounts to ten million pesos, in accordance with section 299, subsection 2, of the Argentine Companies Law.

Moreover, provisions set forth by Resolution No 6/2006 are applicable to reports prepared for the financial statements beginning on January 1, 2007.