Financiera CIMEX S.A.

Head Office

Calle 8 No. 319 e/ 3ra y 5ta Ave., Miramar, Municipio Playa, La Habana

Telf: (537) 24-3191 (537) 24-1399

Fax: (537) 24-2529

Of Grupo CIMEX, was constituted on January 26, 1984 as a Cuban corporation in the Republic of Panama, by means of Corporate Charter No. 172, of May 15, 1995.

By means of Resolution No. 103, of 1998, Banco Central de Cuba issued Financiera CIMEX, S.A. a Specific License to manage credit cards in the Republic of Cuba and to manage the family aid remittances from other countries to Cuba.

Among its authorised operations the following are included:

Financiera CIMEX, S.A. has processed, from 1992 to 1998, an equivalent of 854,8 million USD for the use of credit cards, of which 24 millions, almost in equal proportions, correspond to Cuban cards, issued by Banco Financiero Internacional or by Financiera itself.

FINCIMEX has issued 81,000 cards as a means of payment, 58,000 for the acquisition of fuel and 23,000 for the beneficiaries of family remittances.

There are 3,043 Posts of Sale in the whole national territory where the system operates, including the islets. Of that total, 1,649 PSs are completely automated which allowed to process 83% of the operations for the year.

During 1998, 1 130,3 thousand operations were made with a total invoicing equivalent to 236,1 million USD. The percentage of fraud and errors of the sellers in relation to the annual invoicing was of 0,19, very much below the VISA target for centres of our category (0,25), and the real average of such centres in the world. (0.35).

From October 1995 to December 1998 it has received an equivalent of 43 million USD corresponding to family remittances which were distributed through the banking network and door-to-door delivery.

In 1998, additionally, family remittances were delivered accounting for an equivalent of 11,5 million USD with the use of TRAN$CARD, a suitable means to deliver remittances for its rapidity, security and convenience for the beneficiary plus the benefits from funds held at the banks and the saving of paperwork and money handling.