RAFIN, S.A.

Head Office

Ave. del Puerto s/n esq. a Obrapía, Municipio Habana Vieja, La Habana

Telf: (537) 66-6646

Fax: (537) 33-6901

Was established by Corporate Charter No. 816, of April 14, 1997, issued by the Special Notary’s Office of the Ministry of Justice of the Republic of Cuba.

By means of Resolution No. 19, of 1997, Banco Central de Cuba issued RAFIN, S.A. a Specific License to engage in financial activities in the Republic of Cuba for an indefinite time.

RAFIN S.A. went into operation on August 1, 1997. Among the operations authorised to exercise are the following:

The institution, at present, has more than 100 Cuban and foreign clients. Since its foundation up to the close of the fiscal year of 1998, it has placed in the Cuban economy loans at short-, medium- and long-term for more than an equivalent of 270,0 million USD, in the finance of highly important projects to develop the national economy.

Its financial services of factoring and forfeiting --in their diverse methods-- has benefited branches and agents of foreign companies as well as private and state enterprises with contracts amounting up for more than an equivalent of 20,0 million USD.