Petition 114

All redactions made pursuant to
exemptions (b)(6), (b)(7)(C), (b)(7)(F)
Official Translation of LETTER
To the
Office of Foreign Assets Control
U.S. Department of the Treasury
Attn. International Programs
1500 Pennsylvania Avenue, N.W.
Washington, DC 20220
Re.; Request
Dear Sirs,
As stated by the attached fourteen (14) file documents, officially translated into a
total of thirty four (3-4) file documents, the undersigned petitioner has never been
or is member, partner, shareholder, associate, employee or executive of the
ALERO S.A. corporation.
The ALERO S.A. corporation was constituted and liquidated pursuant to the "Laws
of the Republic of Colombia and in these public documents, which are the basis for
my request, I repeat, my name does not appear In any type of action which
compromises me and legitimizes the illegal Inclusion In the Clinton Ust.
For all effects regarding the investigation carried out by this office, I wish to inform
that you may contact me at the following address:
I in Cali. Email:
Waiting for your response,
Sincerely
TRAIUOTOKA OFICfAt. INQUS

8E3. H»,UU DC Wilts
- Traductora Oftclal
fo-lngtes -Cel\
Call-Colombia
001126
All redactions made pursuant to exemptions
(b)(6) and (b)(7)(C), (b)(7)(F)
Seftores
Office of Foreign Assets Control
U.S. Department of the Treasury
Attn. International Programs
1500 Pennsylvania avenue, N.W.
Washington,D.C. 20220
Asunto: SOLICITUDDE EXCLUSION DE[

[SDNTLISTEN!
Cordial Stludo:
Tal y como consta en los documentos anexos en un total de catorce (14) folios utilcs
que fueron traducidos oiicialmente en un total de treinta y aiatro (34) folios litiles,
quten suacribe esta petici6n en ningiin raomento ha sido, es o file integraitte, socia,
accionieta, asociada, empleada o directivs de la sociedad ALERO S A
La sociec5ad ALERO S.A. realiz6 su constitucidn y Iiquidaci6n de conformidad con la

Lcyes de la Republics de Colombia, y «n eoos documentos piibltcos, que son el
fundamento de mi solicitud, reitero, no figura mi nombre en ningCIn tipo de actuacidn,
que me comprometa y que legitime Is il^ga! tnclasidn ett h Lista Clinton.
Pare todos los efectos de la investigacidn les informo que me

liguiente direccidn
(de la chidad de Cali, e-mai
Quedo a la espcra de sus noticias.
Cordialmente,
C.
001127
All redactions made pursuant to exemptions (b)(6) and
(b)(7)(C), (b)(7)(F)
OXFORD
TRANSLATORS
Translation No. AleroConstSocAno94,2918 January 28, 2005 page 1
(Seal) REPUBLIC OF COLOMBIA / ASSOCIATION OF PUBLIC NOTARIES OF

COLOMBIA / NOTARY STATIONERY PAPER / {Logo of the institution)
AA 4907S66 Translator's note: handwritten number 83
PUBLIC DEED NUMBER: ONE THOUSAND SIXTY (1,060)
DATE: DECEMBER TWENTY-SEVEN (27), NINETEEN NINETY-SIX (1,996).-
ACT OR CONTRACT: LIQUIDATION OF A SOCIETY.
^^h,TORs:HHHIHHHHHHHHHHHHHH
BUSINESS NAME: ALERO S.A.
In the city of Santiago de Cali, State of Valle del Cauca, Republic of Colombia, before
me, J i m H ^ ^ ^ m A c t i n g Nineteenth Notary Public, came
forth: H H | | H ^ H I H H H H I I ^ H H H f s m a i a - °f aSe- a resident of this city,
identified with Colombian citizenship card No. H H H H ' i s s u e d in Cali, Valle, marital
status: married, with an ongoing conjugal society, able to enter into contract and be bound
by it, who acts here as the liquidator and/or Legal representative of the ALERO S.A.
Society, as accredited by the Certificate issued by the Chamber of Commerce of Cali,
attached here so that it can be come part of this instrument, and stated thus: FIRST: That
through this public instrument she intends to put down in public deed the Minutes for the
General Assembly of Shareholders through which the society is liquidated, according to
the following...
MINUTES
st
On the 21 day of December 1,996, the shareholders of the ALERO S.A. society gathered
at the headquarters of the society to liquidate it. They hold a Special General Assembly,
prior to being served the legal notice by the Liquidator or Legal Representative and in
order handle the following orders of the day
THIS PAPER IS FREE OF CHARGE FOR THE USER
(Sea!) REPUBLIC OF COLOMBIA / NINETEENTH NOTARY PLJgLJC^n^r.AU
(Colombian e m b l e m ) / • • • • • • / A C T I N G NOTARY
Translated by Official Translator, Registered with the Amert

Approved Dytfta ,'ucation and Justice. Resolution NOjZei
Phoneii C o d w H - E-nSalT Call
001128
All redactions made pursuant to exemptions (b)
(6) and (b)(7)(C), (b)(7)(F)
OXFORO
S S TRANSITIONS
Translation No, AleroConstSocAno94.2918 January 28, 2005 page 2
1. - Verify there is quorum.
2. -Appoint the President and Secretary,
3. - Liquidate the society.
4. - Authorize the Liquidator or Legal Representative to register the liquidation deed.
5. - Pay Liquidator's fees.
6. - Approve Minutes.
DEVELOPMENT.
1. - VERIFY THERE IS QUORUM.- The Liquidator of the society in association with the
Tax Auditor, proceeds to make a roll call with the following result:
SHAREHOLDERS/REPRESENTATION No. SHARES. SHARE %
3 10%
3 10%
3 10%
3 10%
3 10%
Inversiones Ara Ltda / I ^ ^ ^ ^ ^ ^ ^ ^ H 15 50%
TOTAL 50 100%
Having verified that there is quorum, it is established that there is 100% attendance.
Consequently, the assembly proceeds to make any type of decision and especially
those dealing with the orders of the day.
(Seal) REPUBLIC OF COLOMBIA / NINETEENTH NOTARY PUBLIC OF CALI
(Colombian emblem) flHHHHi ACTING NOTARY
COLOMBIA / NOTARY STATIONERY PAPER / (Logo of the institution)
AA 4907567 Translator's note: handwritten number: 84
2. - APPOINT PRESIDENT AND SECRETARY: Having analyzed the initial proposal,
HHMHIIMHHH^HHHHH 'S aPP°'n(ed President a n d m m | |
GARCIA Secretary. Both declare they are now legally holding said positions and
Translated by I iOfflcial Translator, Registered with1 in and Canadian Embassies

tign Aflajra^ducatjon and Justjcejtosoluilon NgJB
Celtular
^89-
Phone: BHHIHI Beeper: H H i Coda H I- E-mail: I Call
001129
exemptions <b)(6) and (b)(7)(C), (b)(7)(F)
OXFORD
TRANSLATIONS
Translation No, AleroConstSocAno94.2918 January 28, 2005 page 3
promise to fulfill their legal and statutory duties. '
3. - LIQUIDATION OF THE SOCIETY: The Liquidator declares that she has called this
Assembly to make decisions concerning the liquidation of the society and especially to
approve the final accounts of liquidation and also the distribution of the remaining
balance among the shareholders so that the estate society is totally liquidated.
To said effect the Liquidator goes on to present the accounts that will be reviewed
below (See Attachment).
-.Having Presented it the previous proposal to the General Assembly of Shareholders
for consideration, they move on; TO APPROVE THE LIQUIDATION BALANCE OR
THE FINAL LIQUIDATION ACCOUNT. Once the proposal was put to vote, it was
unanimously approved by 100% of the deliberating quorum.
-. Proposal for surplus distribution
$ 700,000. oo
700,000. oo
700,000. oo
700,000. oo
700,000. oo
3,500,000. oo
TOTAL 7,000,000. oo
(Seal) REPUBLIC OF COLOMBIA / NINETEENTH NOTARY PUBLIC OF CALI
(Colombian emblem) J H H H H H ' ACTING NOTARY
Submitted to the Genera1! Assembly for consideration, they approve the following
surplus distribution.
All shareholders declare to have received their share of the distribution of the applicable
surplus and distributable to each, reason why they sign the corresponding receipt and
issue a Free From All Debts receipt, declaring their agreement with the distribution made
Translated by H H H H H OHIo'al Translator, Registered with the Ai

Approvadb^h^talstrlesofFbrelgn Affalrs^ducatfonand Justajtesolutlon No. 2889 _
PhonB:HHBJ|HH^^ 8 " u i ar HHHHfr e8 P er: HHH Code HH' £~m Call
"01130
(b)(6),(b)(7)(C), (b)(7)(F)
OXFORD
Translation No. AleroConstSocAno94.2918 January 28, 2005 page 4

by the Liquidator. The previous decision is unanimously approved by 100% of the
deliberating quorum.
4. -AUTHORIZATION FOR THE LIQUIDATOR OR LEGAL REPRESENTATIVE TO
REGISTER THE LIQUIDATION DEED: The president of the Assembly states that it is
essential to invest the Liquidator of the society with powers to put down in writing the
public deed, by which it can become a legal instrument according to the Liquidation of
Societies Law. And also so she can consequently go on to carry out all actions leading to
its registration. And so she can file the final income tax statement, pay all taxes and obtain
an industry and commerce free from all debts receipt, and handle all other necessary
administrative proceedings.
(Seal) REPUBLIC OF COLOMBIA / NINETEENTH NOTARY PUBLIC OF CALi
(Colombian emblem) 'WKKKKKM1 ACTING NOTARY
COLOMBIA/ NOTARY STATIONERY PAPER / (Logo of the institution)
AA49075S8 Translator's note: handwritten number: 8S
Once put to a vote, the proposal is unanimously approved in its entirety by all the
assistants, with a quorum of 100%.
5. - Considering that no fees were paid to the Liquidator m m g g ^ m m g g
m , it is agreed to award her any pending right the society might have.
In view of the aforesaid, we invest full powers upon Mrs, H H H H H H H H H H H
H H B , identified with Colombian citizenship c a r d H H H H i ' s s u e d <n Call, Valle, to
receive any amount in favor of the society, even after liquidated.
6. - SANCTIONING O F THE MINUTES: After reading the minutes, those in attendance
decided to approve it without reservations with a quorum in favor of 100%.
At 12:00 P.M. the session comes to a close and it is adjourned.
President. Secretary.
(Signed by the parties). THE MINUTES ENDS HERE.
Translated b y H H H M O f f l c i a ! Translator, Registered with the American and Canadian Embassies

ApprovadbvlheMlnlsltesd Foreign AffajrAEduration and Justice, Resolution No,
P h o n e H ^ H I I V CellularHHHHJBeeper:HNHcodeflh- E-mail:|
All redactions made pursuant to exemptions (b)(6),
(b)(7)(C), (b)(7)(F)
OXFORD
Translation No. AleroConstSocAno94.2918 January 28, 2005 page 5
GRANTING. Having read this instrument, the deponent approves it and states that she
has nothing further to add or Clarify to what is written.
AUTHORIZATION. Having complied with all the legal formalities the undersigned
Acting Notary public authorizes this instrument which she signs along with the grantor
after
advising her of the need to register it at the Chamber of Commerce of Cali, within the
legal allotted time.
FEES: $26,010.00 Colombian pesos Decree 1681 of 1,996.
Prepared on notary stationery pages No. AA. 4907566-67-68.-
DEPONENT, (Signed and f>ngerprinted)|HHHHHHHHHHflHHHi
(Liquidator of Alero S.A.)
Colombian Citizenship C a r c t m i issued in Cali, Valle.
Translator's note. The following information appears on the right side - near the center-
of the last page of the deed: (Colored seal) Superintendence of Public Notaries and
Records / The Director of Notary Proceedings certifies that the Notary Public who
authorized this document was duly performing her duties on that specific date,
(Mechanical signature)
December 7, 2004.
ACTING NINETEENTH NOTARY PUBLIC,
(Signed and sealed) ^ ^ ^ ^ ^ ^ H | H | | H H | f l H ^ ^ j H
(Seal) Dr. jHHHHllV^TINGNOTARYPUBLfC^
(Round seal) MINISTRY OF FOREIGN AFFAIRS / INTERNAL GROUP FOR
LEGALIZATIONS AND APOSTILLES
(Seal) / (Colombian emblem) / REPUBLIC OF COLOMBIA
OFFICE OF THE NINETEENTH NOTARY PUBLIC OF CALt
Translated b y f l H H H I O f f i c t a ' Translator, Registered wilh the Amert

ApprovedbytfieMMsMesof Foreign AJfairsÊducatlon and JustlcgjResolutlon No. 2889
p>ione
* H H H H H / C e " u ' a r H H H I Be8Pe/ p M H i codeHH - E-mBii - Cali
01132
exemptions (b)(6) and (b)(7)(C), (b)(7)
(F)
OXFORD
TRANSLATIONS
Translation No, AleroConstSocAno94,2918 January 28, 2005 page 6
This is a true to the original first (1") copy of public deed No. 1060 of December 27,
1996, which I issue and authorize on 03 written pages for Mrs. I
Cali, NOVEMBER 24, 2004

/
HHHHHHHR Nineteenth Notary Public of Ca!i(Sealed and Initialed)
REPUBLIC OF COLOMBIA / (Colombian emblem) / OFFICE OF THE NINETEENTH
NOTARY PUBLIC OF CALI ^ • N H M M H ACTING NOTARY PUBLIC
REPUBLIC OF COLOMBIA/MINISTRY OF FOREIGN AFFAIRS

APOSTILLE
sewBiicofco(£)MeiAfiEPUBiicwcoLOMBiAn£fluaLicaFcoi<â^
(Convetion de la Haye du 5 octobre 1961)

Country: Republic of Colombia
This Public document
Has been signed byj ~~
Acting in the capacity of: SUPERINTENDENCE DIRECTOR
Bears the seal I stamp of the: SUPERINTENDENCE OF NOTARIES AND RECORDS
Certified
In: Bogota, DC. On: FRIDAY,DECEMBER 10, 2004
By: The Legalizations Office of the Ministry of Foreign Affairs
Under No.: 133111Q Signature: (Signed)
MINISTRYOFFORklONAFFAlRSMINI^rRrOFFOREiaNAFFAIRS
No. OF PAGES: 3 CP 456757
Translator's notes: 1. See bar code on the original document

2.This information comes from the left side of the original document: AQ232328
(Seal) / (Colombian emblem) / MINISTRY OF FOREIGN AFFAIRS / INTERNAL
GROUP FOR LEGALIZATIONS AND APOSTILLES
Translated b y H H i O f f l d a l Translator, Registered with the American and Canadian Embassies

ApprovedbyljwMirilsWeaolForeigri Affairyjducajjori and Justice. Resolution No. 2889 -| _
All redactions made pursuant to exemptions (b)(6)
and (b)(7)(C), (b)(7)(F)
OXFORD
Translation No. A[eroConstSocAno94,2918 January 28, 2005 Page 7
529641 / DATE: MONDAY, NOVEMBER 22, 2004 TIME: 10:24:12 Page 1 of 1

CCC (Chamber of Commerce of Call) 10766499
REPUBLIC OF COLOMBIA
THE UNDERSIGNED SECRETARY OF THE CHAMBER OF COMMERCE OF CALI
CERTIFI ES:
NAME: ALERO S.A. BUSINESS REGISTRATION No.: 382212-4
CERTI FIES:
THAT A SOCIETY KNOWN AS: ALERO S.A. WAS INCORPORATED TROUGH DEED
No, 4846 OF AUGUST 05, 1994, AT THE OFFICE OF THE NINTH NOTARY OF CALI,
REGISTERED AT THE CHAMBER OF COMMERCE ON AUGUST 29, 1994, UNDER
NUMBER 80282 OF BOOK IX.
CERTIFIES:
DURATION: THAT THE SOCIETY WAS LIQUIDATED THROUGH DEED No. 1060 OF
DECEMBER27,1996, ATTHE NINETEENTH NOTARY OF CALI, REGISTERED AT THE
CHAMBER OF COMMERCE ON DECEMBER 30, 1996, UNDER NUMBER 9695 OF
BOOK IX.
CERTIFIE S:
THAT IN VIEW OF THE ABOVE, ITS BUSINESS REGISTRY No. 382212-4 AND THE
CORRESPONDING REGISTRATIONS FOR ITS BUSINESS ESTABLISHMENTS No.
382213-2 WERE CANCELLED.
CERTIFIE S:
THAT THERE ARE NO OTHER REGISTRATIONS THAT TOTALLY OR PARTIALLY
MODIFY THIS CERTIFICATE.
ALL REGISTERED ACTS AND DOCUMENTS BECOME EFFECTIVE FIVE (5) WORKING
DAYS AFTER THE PUBLICATION DATE IN THE REGISTRATION NEWS BULLETIN, AS
LONG AS A REINSTATEMENT APPEAL HAS NOT BEEN FILED THROUGH
Translated by H H H H H Official Translator, Registered with ihe American and Canad

Approved by )he Ministries of Foralon AffajreJEducatlon and JustjnfiJssolutlon No. 2889 -|
/ Cellular H H H H Beeper: H H I C o d e H i - E-mail:! I- call |
-00-1434J
and (b)(7)(C), (b)(7)(F)
OXFORD
TRANSLATIONS
Translation No. AleroConstSocAno94.2918 January 28, 2005 Page 8
GOVERNMENT CHANNELS WITHIN SAID PERIOD OF TIME.

ACCORDING TO DECREE 2150 OF 1995, AND THE AUTHORIZATION GIVEN BY THE
SUPERINTENDENCE OF INDUSTRY AND COMMERCE, THE MECHANICAL
SIGNATURE THAT APPEARS BELOW HAS FULL VALIDITY FOR ALL LEGAL EFFECTS.
GIVEN IN CALI ON THE 22 N D DAY OF THE MONTH OF NOVEMBER OF THE YEAR
2004/TIME: 10:24:07
CLERK, (Signed and sealed) H H H H H H H H H H I
(Seal) CHAMBER OF COMMERCE OF CALI / CERTIFICATE
(Seal) SUPERINTENDENCE OF INDUSTRY AND COMMERCE / THE GENERAL
SECRETARY CERTIFIES: That the signature stamped on this document corresponds to
the one recorded at this office.
Belonging to: j
(Signed) j
(Seal) MINISTRY OF FOREIGN AFFAIRS / INTERNAL GROUP FOR LEGALIZATION
(Colombian emblem)
Translator's note: The Chamber of Commerce's logo appears on the background of the
front and reverse side of the
OHiciat Tnnn-.M ApfjfOvou

by tho Ministiioc o( Jusdco,
foreign MfaUs ami Ktiucaltun
Resolution No, 2889
Translated b y H H H H O f f i c i a t Translator, Registered with the American and Ianadlan Embassies

ApprovedbylheMinfetnesofForelgn Affairs^BJucajlon and JustlceJ-jesolutlon No. 2889 •
PhoneJHHHHHH' C e l l u ' a r H M H H i Beeper: ^ H f l CodelM - E-mail; | CaN
001135
(b)(7)(C), (b)(7)(F)
OXFORD
TRANSMTfOJVS
Translation No. AleroConstSocAno94.2918 January 28, 2005 Page 9
REPUBLIC OF COLOMBIA
MINISTRY OF FOREIGN AFFAIRS
APOSTILLE
R£PUBUCOI;COLOMHAfiEPUaUca=caoMBWGPUSUC0KXX»H^
(Convetion de la Hays du 5 octobre 1961)

Has bean signed by: flHBHHHHHH
Acting in the capacity of: (ACTING) GENERAL SECRETARY
Bears the seal / stamp of the: SUPERINTENDENCE OF INDUSTRY AND COMMERCE
Certified
In: Bogota, D.C.
On: FRIDAY, DECEMBER 10, 2004
Under No.: 1331111 Signature: (Signed)
MINISTRY O f FORSQN AFFARS MINISTRY OF FOREIGN AFFAIRS
No. OF PAGES: 1
CP4S6757
Translator's notes: 1. (See bar code on the original document)
2. (The following information appears on the left side of the original document) AQ232329
Official rrati-;l-ioi
by thn Miriist.-ii-t " f Justice,
Foroign Winlrs tmd Education
Resolution No. 2889
Offlclal
Translated by WKHEEm Translator, Registered with trie Ameri
ApprovedbîeMlnlsMesotForelgn Atlajrs^duoation and Justic^flsoIuJIon N&J889 -1
PhoneJHHBBBB/ CellulaJHHHHI BeeperMWICodeBBJ • M I : | H H I H H I | - Cal
001136
|AH redactions made pursuant to
exemptions (b)(6) and (b)(7)(C),
(b)(7)(F)
OXFORD
Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 10
(Seal) / (Seal) MINERVA / (Logo) / DOCUMENT STATIONERY CA-5045828

Translator's note. The following handwritten note appears on the top-center of the public
deed: #4896 / August 5, 94 / 337
(Sealed and initialed) / NINTH NOTARY PUBLIC / CALI / COLOMBIA
PUBLIC DEED NUMBER: FOUR THOUSAND EIGHT HUNDRED AND FORTY-SIX
In Cali, State of Valle del Cauca, Republic of Colombia, on the FIFTH (5th) day of the
month of AUGUST, nineteen ninety-four (1994), before me, |
/ SATIZABAL / NINTH Notary Public of the Circuit of Cali, came forth Mr.: |
H H H H H H H H H I ' of a9e- a resident of this city, identified with Colombian
citizenship card No. H H H H issued in Cali, Mrs. H H H H H M I H H H H I
[, of age, a resident of this city, identified with Colombian citizenship card No.
issued in Bogota, H H ^ H H H H H H H H H H H M H H i °f a9e> a
resident of Cali, identified as it appears at the bottom of her signature, who acts as the
General Legal Representative o f H H H H H H H H H H J ! i ! ! ^ R > as certiffed by the
power of attorney attached for record, M H H H H H H H I H H H H H H H H H H H H i
of age, a resident of this city, identified with Colombian citizenship card No. No.
of a 8 a
H H H H issued in Cali,gg^HHflHHHHHH> 9 > resident of this city,
identified with Colombian citizenship card No. N o . m | issued in Cali, who acts as
the Legal Representative of the INVERSIONES ARA LTDA. Society, as certified by the
attached Certificate of the Chamber of Commerce of Cali, along with a true to the original
Copy of the Board of Members Minutes No. 7, where it is authorized to incorporate a
society created through this instrument and of which H J H H H H H I ^ H H I
m [ of age, a resident of this city, Identified with Colombian citizenship card No.
No
- 1 H H H I issued in Cali, the person she represents is a member, who acts as the
as
General Legal Representative J j ^ ^ ^ H H B H H H H H H H H H K certified
Translated by H M H o f T I c i a l Translator, Registered with the Arm

ApprovedbytheMirisfrteBoTForeign Affairs, Education and JusUca. Resolution No, 2889
_PtwneHHIHH/Cel!ularHH^^qBeeper:HHI CodeflH • E-mail: Cali
(6)and(b)(7)(C),(b)(7)(F)
OXFORD
TRANSMT1OJVS
Translation No. AleroConstSocAno94-En,2918 January 28, 2005 page 11
by the true to the original copy of the Power of Attorney attached for record, all of sound
mind and body, the first four married and the last one single, able to enter into contract and
be bound by it and they stated:
FIRST: That in this public instrument they act in the aforementioned conditions.
SECOND: That in the conditions described and through this deed they incorporate an
anonymous commercial society known as ALERO S.A. guided by the following:
ARTICLES OF INCORPORATION
CHAPTER I. BUSINESS PURPOSE - NAME - LOCATION - DURATION:
ARTICLE ONE:- It is a commercial society, Colombian, a type of anonymous society. Its
organization and operation is governed by the following articles of incorporation and In the
absence of an express stipulation, by the regulations sat by the Code of Commerce.
Translator's note. The following information appears horizontally on the lower left corner
and on the left side of the deed respectively: - (Logo - LEG IS) / AD rights reserved
- 3 Sealed / (Seal) August 9.1994 / (Illegible) #17993 / (Illegible) 12/94
Minerva form 55-000 (illegible). Photocopying this document is prohibited
ARTICLE TWO: The society goes by the name ALERO S A and its headquarters are
located in the municipality of Call, State of Valle del Cauca, Republic of Colombia.
ARTICLE THREE: The society will have a duration of (30) years, starting from the date
this Instrument is granted. However, this period can be extended before it expires through
a decision by the general assembly of general shareholders. r
CHAPTER H. ARTICLE FOUR: Business Purpose.' The business purpose of the society
is to carry out all types of business and commercial activities pertaining to designing,
dress making, manufacture and tailoring of Clothing garments and Articles for the Home.
To said end, to carry out all types of business and industrial activities to purchase, sell,
distribute and grant exclusive rights, with our own staff or through individual in and out of
the legal field. In order to carry out its business purpose the company can carry out the
Translated byBHHHiOfilcJal Translator, Reglstared with the American and Canadian Embassies
Approved by the Mlnlstrim^l Foreign AffajreJEducalion and Justice. Resolution Ho. 2889 - £ " J
PhondHHHHHH/ CellularHWHHI Beepar:HH| Code • • - E-mail]
(6) and (b)(7)(C), (b)(7)(F)
OXFORD
following activities: a) To invest in fixed or movable urban or rural assets, and acquire
some of them here and there for the purpose of exploit them according to their nature and
destination, and also to manage, lease, put a lien and/or transfer those fixed or movable
assets, b) To carry out all types of businesses and industrial activities geared to achieving
the main business purpose, c) To purchase, sell distribute, import and/or export all types
of merchandise, products, raw materials and/or articles needed for the manufacturing and
capital goods services sector, and also for their transformation, transportation and market,
d) To invest its own funds in shares, bonds, fixed term deposits, accounts in financial
institutions and securities and to invest its own funds in stocks or parts, shares in business
societies and also to negotiate with all types of rights, as long as in said events it is linked
to manufacturing, producing, distributing and selling all types of products, g) To mutually
give or take money or in kind, without becoming involved in financial intermediation
activities, h) To negotiate invention patents, trademark or name brand registrations and
to enter into contracts related to patent rights; i) To open a checking account, j) To draw,
sign, collect, protest and pay all types of loan deeds.
(Logo) / MINERVA / DOCUMENT STATIONERY
(Translator's note: Handwritten number appearing on the top of the original page) 338
COMES FROM PAGE # C.A. #5045826 CA-5045827
(Sealed and initialed) NINTH NOTARY PUBLIC / COLOMBIA / CALI
K) To execute all acts and enter into civil, labor, fiscal and administrative Contracts aimed
at furthering the business purpose, I) To lend personnel, its own or other's equipment,
technology and specialized services related to any of the social businesses.
PARAGRAPH; The society can give personal or real guarantees to back up loans
acquired by third parties be it regular or legal individuals, once it receives the express
approval reached by board of directors to said end. •
CHAPTER III. ARTICLE FIVE: Capital, shares, shareholders. The authorized capital for
Translated b y ^ H H H H o t f c i a l Translator, Registered with the American and Canadian Embassies

ApprovMfbytheMlnisfriBsoH-oreign AJfalrsJEducatlon and JusticaJjesalution No. 2889 - Teacher, Colombo American Cultural Center
Phone:HHHHHH Ce!!u!arHHHH| Beeper^HHBtoteSHi - E - m 8 l l : t t H | H H f l H H H - Calf
^m_ «— H. 001139
(b)(6) and (b)(7)(C), (b)(7)(F)
OXFORD
TRANSIAHONS
the society is FIFTY MILLION PESOS ($50,000,000,00) LEGAL COLOMBIAN TENDER,

divided into fifty (50) shares, each with a nominal value of ONE MILLION PESOS
($1,000,000,00) LEGAL COLOMBIAN TENDER.
The subscribed capital is THIRTY MILLION PESOS ($30,000,000,00) LEGAL
COLOMBIAN TENDER, divided up into thirty (30) shares, each with a nominal value of
One Million Pesos ($1,000,000,oo); money that has been paid in full by the incorporating
shareholders thus:
SHARE HOLDER SHARES VALUE %
3 3,000,000 10
3 3,000,000 10
3 3,000,000 10
3 3,000,000 10
3 3,000,000 10
INVERSIONES ARA LIMtTADA 15. 15,000.000 5Q
IQIAL 3S 30.000.000 100
ARTICLE SIX: Variation of the Capital: The general assembly of shareholders can
increase or reduce the capital of the society. But, if it is going to reduce it, it must abide
by the requirements set forth by Article 145 of the code of commerce.
ARTICLE SEVEN: Issuing shares.- Shares will be issued according to the subscription
regulation issued by the board of directors and authorized by the superintendence of
societies, in the event it falls under the controlled of this entity.
Minerva form 55-00 0 (illegible) Photocopying this document is prohibited
ARTICLE EIGHT: Certificates.- All shares will be nominal and each subscriber will be
issued a temporary title or certificate that accredits him/her as a shareholder. Certificates
will be issued thirty (30) days after the subscription of the corresponding contract, during
each subscription of shares,-
Translaied by • H ^ M Official Translator, Registered with the American and Canadian Embassies
Approved by the Ministries of Foreign Affairs, Education and Justice. Resolution No. 2869 -
tag:gHHH|C9Us|^H| Beeper:HHiCodsBB- E-mail: I • Cali
01140
(6)and(b)(7)(C),(b)(7)(F)
OXFORD
ARTICLE NfNE: Content of Certificates.- Certificates will be issued with the following
characteristics: 1) They will be issued in numbered security paper, listing the date and the
office of the notary public where the incorporation deed was registered and the number of
the resolution from the Superintendence of Societies that authorized its operation, if that
is the case. 3) The amount of shares represented in each certificate and their nominal
value. 4) Shareholder's Full Name
ARTICLE TEN: Temporary certificates - Subscribers will only receive a temporary
certificate if they have not paid the total value of the shares subscribed. The transfer of
these certificates will be subjected to the conditions required for permanent certificates and
the grantor and grantee will be held mutually responsible for any balance due. Once
shares have been fully paid, the temporary certificate will be replaced by the
corresponding permanent certificate.
ARTICLE ELEVEN: Preferential Right.- In the event of a subscription.- During any issue
of shares, shareholders will have preference to subscribe an amount directly proportional
to the shares in their possession on the date the society's board of directors approves the
corresponding share issue regulation. The offer will be made in private through a written
communication sent by mail to the last address each shareholder registered at the society,
The right to subscribe shares will be freely negotiable and shareholders can transfer them
within the terms of the subscription regulation. r
ARTICLE TWELVE: Effects of the ownership of shares. Ownership of any amount of

shares implies that the owner accepts society statutes, independently of how he/she
acquired ownership.
ARTICLE THIRTEEN: Rules for the negotiation of shares,- In order for a negotiation to
become effective, in relation to the society and third parties, it will become necessary to
subscribe them in the Shareholders Registry Book through a written orderfrom the grantor
or through an endorsement on the certificate. The new registration and issuing of the
Translated by • • • H O f f l c i a l Translator, Registered with the American and Canadian ssle

Approvadfaythe Ministries qf Foreign Affairs, Education and Justice. Resolution No. 2688
FhoneflHHHHK Cellular • • • • B^perflHHCodJHI- E-mail
001141
and (b)(7)(C), (b)(7)(F)
OXFORD
(Logo) / MINERVA / DOCUMENT STATIONERY 3

COMES FROM PAGE # C.A.#5045827 CA-504S828
(Seal and initialed) NINTH NOTARY PUBLIC /COLOMBIA/CALI
certificate to the grantee will be take place after the grantor's certificate is cancelled. The
creditor's authorization will be required in order to negotiate shares used as collateral,
ARTICLE FOURTEEN: Transfer of shares.- Shareholders wishing to transfer part or all
of their shares, must offer them first to the society. The offer will be made in writing through
the manager of the society and it will list the number of shares to be transferred, the price
and how these will payed for. The society will have thirty (30) working days to accept or
reject the offer, abiding to what is set forth by law. if time runs out and the society has
made no statement whatsoever, or if it decides to partially acquire them, the manager
will then notify the other shareholders so that they can try to acquire the totality or the
remaining shares offered, as the case may be, for which purpose they will also have thirty
(30) working days, it is understood that the shareholders will be able to acquire the shares
in a direct proportion to the ones they own in the society. Once the established period has
expired, those share not acquired by the society or by shareholders can then be freely
transferred to third parties. In said case, the negotiation will become effective within the
following (five) days after the transfer is made. This class will remain in effect as long as
the shares of the society are not registered in the stock exchange office,
ARTICLE FIFTEEN: Shareholder rights.- Without affecting others granted by Law, the
bylaws and statutes, shareholders will have the following rights: 1) To participate in
assembly deliberations and to vote. 2) To receive a part of the social benefits shown in the
end of the fiscal year balances, proportional to the value of their shares. 3) To negotiate
their shares in the terms set forth in these statutes 4) To freely inspect the books and other
documents mentioned in Articles 88446 and 447 of the code of commerce fifteen (15)
Translated I I Official Translator, Registered with the Amer

Approve foreign Affairs, Education and Justice. Resolution No. 2688 •
Phones / CellularHHHHheeperHHI CodelH • E-maiiJ Call
501142
(b)(6)and(b)(7)(C),(b)(7)(F)
OXFORD
working days prior to regular assembly meetings. 5) To receive a part of the social assets,
proportional to their shares, at the time of the liquidation, after the society has paid its
external liabilities.
CHAPTER IV. MANAGING BODIES OF THE SOCIETY. ARTICLE SIXTEEN: Managing
the society.- The society will be managed by the general assembly of shareholders, the
board of directors and management according to the competence and functions set forth
in this statute. Additionally, the society will have a tax auditor who will act as a permanent
ARTICLE SEVENTEEN: General Assembly of Shareholders - Composition and

Functions.- The assembly will consist of the shareholders gathered within the conditions
set forth in this statutes. The following will be the functions o f the assembly, in addition
to those not assigned in the statutes to other bodies of the society: 1) To establish the
measures geared to ensuring the achievement of the business purpose of the company.
2) To consider the reports and projects presented by the board of directors, the manager,
the tax auditor and the commissions appointed by the assembly itself. 3) To study and
approve or disapprove the end of fiscal year general balances and inventories and close
or summarize the accounts that must be submitted with them. 4) To order that further
reserves be kept, in addition to the legal ones as it deems appropriate and to eventually
eliminate them. 5) To determine and decree, pursuant to the Law, the distribution of
utilities that are established in the general balance, once all amounts that must be taken
to the legal reserve as established by the assembly are deducted. To determine the
amount of utilities to be distributed, the time period for it and the way dividends will be
paid. 6) To agree upon the way to pay for losses should there be any. 7) To examine the
state of the society and consider the annual ledger or report, represented separately or
jointly by the board of directors and its manager as it operates. 8) To consider the report
Translated by • • • • Official Translator, Registered with the Amarlcan and Canadian E

ApprovedbvtheMlr^rleBot
phons Foreign
C e uAffairs,
a r Education and Justice. Resolution
Coci No. 2888 -
E mall:
H H H ^ ^ H v " ' ^^lHHI Beeper: H H I 4IHl' * Call
001143
and (b)(7)(C), (b)(7)(F)
OXFORD
by the tax auditor. 9) To approve the appraisal of goods to be received as payment to

subscribe shares. 10) To authorize any issue of shares. 11) To decree the increase or
reduction of the social capital according to the current bylaws and the Law. 12) To
authorize any issue of premium and holding shares and to order the reduction or
suppression of privileges, 13) To order the initiation of the corresponding legal actions
against administrators and other officers, directors or the tax auditor, without interfering
with the actions imposed by Law in these matters to the other bodies of the society. 14)
To assign commissions in charge of fulfilling some functions that belong to the assembly
that could be delegated because of their nature, 15) To decide on the structure of the tax
auditor and to approve its annual budget.
COMES FROM PAGE # C.A. - #5045828 CA-5048830
(Sealed and initialed) NINTH NOTARY PUBLIC / COLOMBIA/ CALI
16) To freely elect or remove the members of the board of directors, officers, alternates,
the tax auditor or his alternates, or instead of this auditor, to appoint an association or an
accounting firm to handle tax auditing pursuant to the legal provisions. 17) To set the
wages of the board of directors and of the tax auditor and agree upon the wages for
officers to whom she assigns commissions that require a salary due to their nature. 18) To
reform the statutes of the society. 19) To decree the dissolution or extension of the society
and authorize its transformation or fusion with another/other company(ies). 20) All others
that arise pursuant to the Law. —
ARTICLE EIGHTEEN: Regular meetings.- Regular meetings of the assembly will be held
every year during the first three (3) months of the year. If the assembly is not convened,
it will meet on its own right on the first working day of he month of April, at ten (10:00) a.m.
at the facilities where the administration carries out its work, at the headquarters of the
society.—
Translated by ^ ^ H ^ H OHIcial Translator, registered wllh (ha American and Canadian Embassies ^ ^
Approvedb^heMinlstriesof Foreign Affalrs^ducatori and Justice, Resolution Ho. 2888 ' H H H H H H J ^ H H ^ H H I
001144
(b)(7)(C), (b)(7)(F)
OXFORD
Translation No, AleroConstSocAno94-En,2918 January 28, 2005 page 18
ARTICLE NINETEEN: Special Meetings.-

ARTICLE TWENTY: Call to meeting.-Every call to meeting of the assembly of
shareholders will be made through a written communication sent to the shareholder's last
address registered with the administration, The official announcement will include the
orders of the day. The official announcement for the regular meeting of the assembly of
shareholders will be made at least fifteen (15) working days in advance of the date when
the meeting is to be held, excluding those days the meeting is to be held. For especial
meetings an eight (8) -calendar-day advanced notice will suffice.
ARTICLE TWENTY-ONE: Place of the meeting.- The assembly will meet at the
headquarters of the society, on the date, time and place indicated in the call to meeting
notification. It can also meet, without a prior call to meeting, at any place, as long as all the
subscribed shares are represented. During special day assemblies no decisions can be
made on topics not included in the orders of the day inserted in the call to meeting, but
once the orders of the day are complete and with a majority decision of no less than
seventy percent (70%) of the shares represented, it can move on to other issues. In any
event and at any time it can remove administrators and other officers it has appointed.
ARTICLE TWENTY-TWO: Votes. - For assembly decisions, each shareholder will have
one vote, with no restriction whatsoever. Consequently, it will not be necessary to apply
the disposition contained in the first (1st) ordinal.
ARTICLE TWENTY-THREE: Quorum to deliberate.- The assembly will deliberate during
its regular and special sessions with the attendance of a majority of persons who represent
at least fifty-one percent (51 %) of the subscribed shares.
ARTICLE TWENTY-FOUR: Quorum to make decisions.- In order for assembly decisions
to be valid, it will need a favorable vote of at least fifty-one percent (51%) of the shares
subscribed, except in those cases where the Law or this statutes require a different
Translated by • • • • • O f f i c i a l Translator, Registered with (he American and Canadian Embassies

ApprovedbylhsMlnlstriesoTForeign Affairs, Education and Justice, Resolution No. 2889 -|
Phane: / Ce iular Bee ar:
MMHMHM ' ' HBBI!HH P H H I c<xi«Bii • E-maii: j Call
001145
(6) and (b)(7)(C), (b)(7)(F)
OXFORD
TRANSLATIONS
majority, Once the assembly is called in for a regular or a special session, if the quorum
established in this article cannot be had, there will be a new summon. During the meeting
originated by this latter summon, it will deliberate and decide with a majority of persons
who own any amount of shares, except in those cases where a special quorum is required.
The new meeting will not be held within the following ten (10) working days or thirty (30)
calendar days after, starting from the date set for the first summon,
ARTICLE TWENTY-FIVE: Suspending and adjourning deliberations.- Assembly
deliberations can be suspended as many times as necessary and be continued later within
a period that does not exceed three (3) days whenever a decision is reached by a majority
of persons in attendance representing at least fifty-one percent (51 %) of the subscribed
shares present at the meeting, However, this norm does not apply to whoever presides a
(Translator note: missing material from original document) session.
ARTICLE TWENTY-SIX: Extending deliberations.- Deliberations cannot be prolonged for
more than three (3) days, if all the subscribed shares are not present.
ARTICLE TWENTY-SEVEN: Elections.- The electoral quotient will be applied whenever
electing two or more people to become part of the same commission or association body.
This will be determined by dividing the total number of valid votes cast by the persons to
be elected.
(Logo) MINERVA DOCUMENT STATIONERY 5
COMES FROM PAGE # C A - #5045830 CA-5045831
The count will begin with the list that obtained the highest number of votes and so on, in
descending order. From each list we will declared elected as many names as can be
divided by the quotient in the number of votes cast by the assembly. If there are still
positions to fill, these will go to remaining candidates with the highest results, counting
Translated b y ^ H H H I O f f i c i a l Translator. Registered with the Amerlc

irlcanandCanadjanemfaaê^^^^^^
Approvedby the Ministries of Foreign Affairs, Education and Justice. Resolution No.J688 •
P h o n e J H H I H H H i / C e l l u l a r i H H H I i B e s p d i ^ H H H I c c l ^ M H - E-n mmmmmmmmBimmmmimmm
001146
All redactions made pursuant to exemptions (b)(6) and (b)(7)
(C), (b)(7)(F)
OXFORD
Translation No. AlQroConstSocAno94-En.2918 January 28,2005 page 20
them also in descending order. In the event of a tie between the remaining candidates, it
will be decided by luck. Blank votes will be counted in order to determine the electoral
quotient. Persons elected cannot be replaced in partial elections without proceeding to a
new election where the electoral quotient is used, unless vacancies are unanimously
nrovirififi , , . 1IIM|M . ,,,.^.M^JIUU^^JLIII^JHI i_i^-.»nTi • . . ... •...,»r iwn^, ..,.I...H.J ... _»*_„ •» __HM
ARTICLE TWENTY-EIGHT: Minutes.- An account of what took place in the meetings will
be recorded in the book of minutes of the assembly, registered and foliated at the chamber
of commerce of the social headquarters. The minutes for every session will begin with the
corresponding order number and will at least, specify the place, date and time of the
meeting, the type and how far in advance it was convened, the list of attendants indicating
the number of shares they hold or represent and the total shares; topics discussed,
decisions made and the number of votes in favor of a commission who will present a
written report. The-minutes must be signed by the president of the assembly and by the
secretary, Copies of the minutes authorize by the secretary or by some society
representative, will serve as proof of the events recorded in it, as long as there is no proof
of forgery of the copy or the minutes.
ARTICLE TWENTY-NINE: Board of Directors.- The society will have a board of directors
consisting of three (3) officers, each of which will have a personal alternate who will
replace him/her during temporary or total absences,
ARTICLE THIRTY: Election.- Board officers and altenates will be freely elected and
removed by the general assembly of share holders.
ARTICLE THIRTY-ONE: Duration.- The duration period of the board of directors will be
one (1) year, which will begin on the 1 st of April of each year and finish on March 31 * of the
following year. PARAGRAPH: The members of the board of directors will hold their posts
uninuiBydioraltIUVOU.-«—-—-~———~—~—— —.-- _ . _ . »_•«__—„»_._.„__..___—___„«.•..
Translated by M M H I Official Translator, Registered with the American and Canadian Embassies
ApprovedbvttieMinlBirle^M^relgn AHajraÊdtJcafion and Justice. Resolution No, 2689 • Tea^fl^QJorrtj^mwijjajUjjjjlijral center
001147
(6), (b)(7)(C), (b)(7)(F)
OXFORD
ARTICLE THIRTY-TWO: Functions of the Board of Directors.- The board of directors will
have the following functions, in addition to the special ones assigned by the assembly:
1) To set the parameters and general guidelines to manage company businesses
according to the guidelines set by the assembly of general shareholders. 2) The society.
18) To submit to the assembly, all other reports and recommendations it deems
appropriate, during regular and special meetings. 19) To delegate to the general manager
some of its functions, which can be delegated according to Law. 20) To authorize the
company manager to carry out acts and enter into contracts for amounts that must not
exceed Twenty-Million Colombian pesos ($20,000,000.oo).
ARTICLE THIRTY-THREE: Regular sessions.- The Board will hold regular sessions at
least once per month, on the dates appointed by the board according to company needs.
ARTICLE THIRTY- FOUR: Special Sessions.- The manager, the tax auditor or at least
two (2) members of the board who act as officers can call for special sessions of the board
to deal with urgent issues,
ARTICLE THIRTY-FIVE: Notification.- The notification for the meeting will be made by
letter at least three (3) calendar days in advance, including the day of the notification.
However, the board can meet without notice when all its members are present. The notice
will include the order of the day.
ARTICLE THIRTY-SIX: MEETING PLACE.- The board will meet at the date, time and
place listed in the notification or wherever all its members decide to.
ARTICLE THIRTY-SEVEN: Votes.- Each member has the Right to a Vote.
ARTICLE THIRTY-EIGHT: Quorum.- The board will deliberate and make decisions with
the presence and votes in favor of the majority of its members,
ARTICLE THIRTY-NINE: Minutes.-An account of what took place during the meetings will
be recorded in the book of minutes of the board of directors, registered and foliated at the
chamber of commerce. The minutes for each session will begin with the corresponding
Translated b y H H H H ^ T I c l a l Translator, Registered with the American and Canadian Embassies

Approved by iha Ministries of Foreign AffajreJjducatjon and Justice. Resolutfan No, 2889 - Teacher, Colombo American Cultural Center
P h o n e f l i H H H | ^ B C 6 l l u l a r H H | H H B e e p e r : H [ H | i C o d 6 H H | - E - m a l f : H H H H H | ^ H B | • Call
— — _ . 001148.
(6), (b)(7)(C), (b)(7)(F)
OXFORD
TRANSITIONS
order number and will at least specify the place, date, time, and type of meeting, and how
far in advance it was convened, the list of attendants, the topics discussed, the decisions
taken and the number of votes cast in favor, against or blank votes
(Translator's note: Handwritten number appearing on the top of the original document) 342
COMES FROM PAGE # C.A. - #5045831 CA-5045832
of certificates left by the participants, and the date and time it adjourned. The Board can
approve or reject the minutes during the same meeting it belongs to or during the next one
or delegate this power upon a commission who will present a written report. All minutes
must be signed by the president and the secretary and by default by whoever replaces
ARTICLE FORTY: Manager.- The manager will be in charge of the management of the
company, its Legal representation and the administration of its businesses. He/she will
have an alternate who will replace him/her in the event of temporary or total absences,
ARTICLE FORTY-ONE: Appointments.- The manager will be appointed by the board of
directors. The board will also appoint the officers who will act as the first and second
alternates for the manager and who will replace him/her in that order during his/her
temporary of total absences, while another one is appointed.
ARTICLE FORTY-TWO: Duration.- The manager and his alternates will be appointed for
a period of one (1) year. He can be removed at any time, pursuant to what is mentioned
in this statute.
ARTICLE FORTY-THREE: Functions of the manager.- The manager will have the
following functions: 1) To get involved in the various operations of the company to ensure
the best use of economic resources. 2) To oversee the company revenues resulting from
its involvement in various activities. 3) To guide the management of company funds and
Translated by H H H H f l b f f i c i a l Translator, Registered with the Ameri

ApprovedbyltjaMNsWesofForelgn AftalrsJEducationarid JustfcsJResolutlon No. 2BB9 - j
001149
All redactions made pursuant to exemptions (b)(6) and (b)
(7)(C), (b)(7)(F)
OXFORD
stocks pursuant to the orders issued by the shareholders assembly and the board of
directors. 4) To conduct all types of studies and processes related to the financing and
servicing of the company loan. 5) To Conduct financial studies geared to making normal
company operations more efficient. 6) To carry out assembly and board of directors
decisions. 7) To legally represent the society before any type of authority or officials and
before legal representatives or invidi viduals, in and out of court, with general and sufficient
powers to properly carry out his/her work and with the special powers required by Law to
novate, reach settlements, pledge and relinquish and even to appear in court hearings
when there is a dispute regarding ownership of fixed assets, except in those cases where
an special authorization is required according to Law or these bylaws. 8). To handle
society affairs and operations, not only external ones but also those related to its internal
activity and particularly available for technical operations, accounting, mail and supervising
for matters that are not necessary for the immediate operations of society. An authorization
will be required by the board of directors for permanent or in fixed assets investments
whose total value exceeds the amount of TWENTY MILLION COLOMBIAN PESOS
($20,000,000.00). 22) Fulfill and ensure fulfillment of the statutes of the society. 23)
Exercise all other legal and statutory functions. 24) Appear before a notary public to
authenticate the decisions made by the assembly that need to be put them down into a
publicdeed.
ARTICLE FORTY-FOUR: General secretary.- The society will have a general secretary,
which will also be the same one for the assembly and for the board.
ARTICLE FORTY-FIVE: Election.- The general secretary will be freely elected and
removed by the board of directors and will act under the direction of the manager.
ARTICLE FORTY-SIX: Functions.- The general secretary will have the following functions
in addition to those occasionally assigned by the assembly and the board: 1) To prepare
the meetings of the general assembly and the board of directors. 2) To draft, according to
Translated by H H H H Official Translator, Registered with the American and Canadian Embassies
Approved by the Ministries of Foreign Affairs, Educati
on and Justice. CResolution
Bes er; ode
No.EH2839 -f
ôn^HHflHJIHM' Cellular H H H H P HHH Hi"
and (b)(7)(C), (b)(7)(F)
OXFORD
the manager, the terms and the orders of the day for the sessions and in general, to take
the necessary steps to ensure their proper operation. 3) To draft and read the minutes of
the assembly and the board of directors; To sign them after they are approved by the
corresponding statutory body and after signed by the president and to care of the book
where they are kept. 4) To receive and file correspondence.
CHAPTER V. ARTICLE FORTY-SEVEN. FOR THE TAX AUDITOR: Tax auditor.- The
society will have a tax auditor and an alternate for him/her, who will replace him/her during
his/her temporary or total absences.
ARTICLE FORTY-EIGHT: The tax auditor.- The tax auditor and his afternate will be freely
appointed and removed by the general assembly of share holders.
ARTICLE FORTY-NINE: Duration.- The tax auditor and his alternate will serve for a
period of one (1) year which will begin on the 1 " day of April of each year and end on
March 1 8t of the following year and both can be indefinitely reelected. PARAGRAPH: The
tax auditor and his alternate will hold their posts until thay are removed.
COMES FROM PAGE # C.A.- #5045832 CA-5045833
ARTICLE FIFTY: Functions.- The tax auditor will have the following functions, in addition
to those faculties and duties that are occasionally assigned by the assembly: 1) To
organize and perform a tax audit of the accounting and financial operations of the
company and of the state of its assets, adhering to Law and within the guidelines and
instructions determined by the assembly. 2) To submit for consideration to the assembly
projects concerning fiscal auditing related to its administrative structure, listing its
departments, their services and the number of employee and wages. 3) To freely appoint
and remove auditing employees whose positions where created by the general assembly.
Translated byHBHHR2fficial Translator, Registered with the American and Canadian Embassies
ApprovedbvjheMinkjnesorForeign AMjsJjducationand Justice. Resolution 1
a n e : M H B M B | / CellularHBBB^ Beeper JBHCode|Bi • E-mail:| Call
001151
(b)(6)and(b)(7)(C),(b)(7)(F)
OXFORD
TRANSLATIONS
Translation No. AleroConstSocAno94-En,2918 January 28, 2005 page 25
4) To submit the annual auditing expenses budget to the assembly along with the
necessary data for their own consideration. 5) To supervise and control so that the
accounting is conducted according to law and to permanently examine accounting
operations and the corresponding internal and external proofs of payment, In order to
make sure that these are correct, to prescribe technical norms for better control and
request data, documents and in general collaboration from the board of directors and from
all officers so that said control can performed satisfactorily, once the company's financial
status is accepted, upon completing the auditing period, and if the second one correctly
states the results of the operations for said period, e) To voice reserves, doubts and
suggestions he/she has concerning financial statements. 15) Write an annual report for
the regular meeting of the assembly at least stating: a) If the actions of the members of
the board of directors, the manager and high ranking officers of the society adhered to the
rules, decisions and instructions of the general assembly and the board of directors
respectively, b) If the books, proofs of payments, machines and other accounting elements
as well as minutes books and the shareholders registry are kept in good conditions, c) If
the correspondence is properly sent and handled, d) If there are internal control,
conservation and custody measures for social and third party assets held by the company,
and if this is the case and if said measures are adequate, e) The way In which the budget
of the tax auditing office is executed during the fiscal year. 16) To formally, promptly and
in writing inform the assembly, the board of directors or the manager, as the case may
warrant, about irregularities that occur in the internal operation of the society or In its
businesses with third parties.
17) To furnish the assembly the reports it requests about everything dealing with the
operation of the society and the performance of his/her job. 18) To furnish the board of
directors and the manager all reports requested and which are not incompatible with the
Translated b v B B B H B Official Translator, Registered with the American and

Approvedb^h^jnlsWesof Foreign Affairs, Education and Justice, Resolution No^889
001152
exemptions (b)(6) and (b)(7)(C), (b)(7)(F)
OXFORD
Translation No. A!eroConstSocAno94-En.2918 January 28, 2005 page 26

auditing functions that the tax auditor must conduct on one or the other. 19) To maintain
absolute confidentiality overacts, facts, documents and in general over matters related to
the society that he/she becomes aware of while in the performance of his/her duties and
which should be kept confidential, without it preventing him/her from divulging them as
required by the corresponding legal or statutory procedure to those who by Law or statutes
have a right to become aware of them. 20) Fulfill and ensure the fulfillment of the Laws,
statutes and decisions of the assembly. 21) Conduct the auditing in such a way that it does
not interfere with the functions of other social bodies, or get in the way of or paralyze the
normal operation of the society. —
ARTICLE FIFTY-ONE: Auditing conducted by Persons with legal status. -An accounting
firm can conduct tax auditing In the terms of set forth in paragraph two (2) of article two
hundred fifteen (215) of the code of commerce. The accounting firm hired to provide these
services must first provide the necessary credentials to establish their legal status and legal
representation. The corresponding contract will require the prior approval of the general
assembly and his stipulations must enable compliance with the duties and rights that the
law and these bylaws assign to the tax auditor.
CHAPTER VI. BALANCE, PROFITS AND LOSS STATEMENT.
ARTICLE FIFTY-TWO: General balance.- There will be a general balance at the end of
the countable fiscal year of the society, which will run from January first (1") to December
thirty-first (31st) of each year. The accounting will be conducted according to the norms
accepted by Law, through procedures which enable the registration of operations in a
complete and reliable manner and the awareness and proof of the general situation of
company businesses.
ARTICLE FIFTY-THREE: End of Fiscal Year Balance attachments.- The end of the fiscal
year balance that the board of directors and the manager must submit to the general
assembly, will be accompanied by the following documents: 1) A detailed breakdown
Translated b y f l H H M V ^ ' c ' a ' Translator, Registered with the Americaimiânadlar^jmbassies^^^^^^^

Approved by the Ministries ol Foreign Affairs, Education and Justice. Resolution No. 2BB9 - J i H B H H B H B B M H H H i
ptone:
BHBHBHI' Cfll ' utar BHBH Beep8r: BHBI CDd9 Hi" E"mal!SMHMBMBHHHFcaii
001153
OXFORD
TRANSMHOJVS
of the profit and loss statement specifying the appropriations made due to the depreciation
of fixed assets and the amortization of intangibles.
(Translator's note: Handwritten number appearing on the top of the original document) 343
COMES FROM PAGE # C.A. - #5045833 CA-S045834
2) A net profits distribution project, after deducting the calculated amount for the payment
of income and complementary taxes for the corresponding business year. 3) The report
that the board of directors and the manager must submit to the general assembly of share
holders about the economic and financial situation of the society must also contain: a) A
detailed list of expenditures for wages, fees, traveling expenses, representation and
transportation expenses and any other type of payments made to every directing officer
of the society, b) The detailed list of payments for the same services indicated in the
previous clause, made on behalf of consultants or agents related to processes carried out
outside the society, c) The detailed list assets transferred for free or very to close to it.
d) The detailed list of advertising expenses, for public relations, breaking down each.
e) The detailed list of the assets of the society abroad end its liabilities in foreign currency.
f) A detailed list of the investments of the company in other societies, specifying the
national and foreign ones and their corresponding locations,
ARTICLE FIFTY-FOUR: Profit and Loss statement.- The corresponding profit and loss
statement will be drafted upon completion of each fiscal year. In order to determine the
results of operations it will be necessary to previously obtain, according to Law and
accounting practices, the necessary losses to balance depreciation, devaluation and the
guaranty of the social estate or the monies set aside for legal, statutory or voluntary
reserves. Inventories will be assessed according to the methods allowed by tax norms. —
Translated b y ^ H M H O f f l c i a ! Translator, Registered with the American and I

Approved
p
by the Ministries of Foreign Affiajj^ducaljorf and JusHcgjtesolutfon No. 2889 • _ _ ^ ^ ^ ^ ^ _ ^ ^ ^ ^ ^ _ _ _
hon6:|HHHHHHCelluJarH|H||e3eper.'|HH|CocisH|' E-m^^^^^^^^^^Mcsf
001154
OXFORD
CHAPTER VII. RESERVES. ARTICLE FIFTY-FIVE: Reserves.-The society will set aside
a legal reserve that will be at least fifty percent (50%) of the subscribed capital, by drawing
ten percent from the net profits from each fiscal year. Whenever this reserve falls below
the legal limit, the society will appropriate ten percent (10%) of the profits mentioned above
until it reaches this limit again. In addition to the reserves set forth by law, the assembly
can also set aside the occasional ones it deems appropriate, as long as they have a
special destination and are approved and justified according to Law.
CHAPTER VIII. MISCELLANEOUS. ARTICLE FIFTY-SIX: Profits,- Subject to the norms
contained in the Law about profits, those approved by the assembly, which are justified by
reliable balances, will be distributed among shareholders, after setting aside the legal and
occasional reserves and the appropriations to pay taxes. Unless otherwise stated,
approved by at least the votes of those representing seventy percent (70%) of the shares
represented at the meeting, by way of dividend, the society must distribute among its
shareholders, proportionally to the part paid of the nominal value of the shares each year,
no less than fifty percent (50%) of the net profits for each fiscal year or the remaining
balance of the same, if it had to write off losses from previous fiscal years.
ARTICLE FIFTY-SEVEN: Paying dividends,- Dividends will be paid in cash at the times
set forth by the assembly and to those who are shareholders in good standing at the time
dividends are paid. Nonetheless, payments can also be made by the way of liberated
shares from the same society, if the assembly so decides through a vote of at least eighty
percent (80%) of the shares represented at the meeting. If this majority cannot be had,
said shares can only be handed by way of dividends to the shareholders, if the assembly
ARTICLE FIFTY-EIGHT: Loses.- Losses. Shall there be any will be paid with the reserves
set aside for said purpose and by default, with the legal reserve. Reserves whose final
purpose is to cushion certain losses c^nnoHgeusedtocoverdifferent ones, unless the
Translated byHHHHHOfficial Translator, Registered wilhihe Americ

^êMinjatnasoôrelgn Affafrs^ducationand JustjcejResoluilon No. 2B89 -j ^^^^^^^^^^^^
PhoneHHHHHHHt Celular HHHH Bes P er: HHiCodeHH- E-mail: H H H H H H l H i Cal
001155
(6)and(b)(7)(C),(b)(7)(F)
OXFORD
assembly decides to do so. If the legal reserve were not enough to make up for the
decrease in capital, (Translator's note: The text is complete here)
ARTICLE FIFTY-NINE: The dissolution of the Society.- The society will dissolve 1) Upon
reaching its expiration date. 2) Due to the impossibility to develop the social company,
3) Due to a reduction in the number of shareholders to less than five (5). 4) Because it has
filed for bankruptcy. 5} By a decision from the general assembly, made with the votes of
the shareholders who represent at least seventy percent (70%) of the subscribed capital,
6) Due to a decision from a competent authority. 7) When there are losses that reduce the
net estate below fifty percent (50%) of the subscribed capital. 8) When ninety five percent
(95%) or more of the subscribed shares are owned by only one share holder.
COMES FROM PAGE # C.A. #5045834 CA-S04583S
9) Due to other causes as established by law.
ARTICLE SIXTY: Liquidation of the society.- Once the society is dissolve, it will immediate
be liquidated. No new operations can be started that imply carrying out its business
purpose and its legal capacity will be restricted to those acts needed to finalize its state
of liquidation. Except for an express legal exception, any act not related to this end will
limitlessly and severally bind the shareholders.
ARTICLE SIXTY-ONE: Arbitration.- If there is a dispute between the members or.between
them and the society or the liquidator, related to the existence of the society, be it at the
time of liquidation or after, which cannot be settled directly by the interested parties, the
dispute will be brought before an arbitration court which rule on legal matters. Arbitrators
Translated by H H H M H Official Translator, Registered with Ihe Amerli;

ApptovedbvthaMfnistjtesolForeign Affairs, Education and Justice. Resolution Ne^
Bse ar o(l6
PtaneflHHHHH ceiiuiar HHHH P flHH^ HM - H ^ n H H H ^ H ^ ^ V c i f
001156
All redactions made pursuant to exemptions (b)(6) and (b)(7)(C),
(b)(7)(F)
OXFORD
TRANSLATIONS
vote corresponding to the majority representing at least seventy percent (70%) of the
subscribed shares. Resolutions to reform the bylaws must be submitted to the
Superintendence of Societies for study, in the event that this entity is exercising control,
and once It approves it, the society manager will be put them down in a public deed.—
ARTICLE SIXTY-FIVE: Appointments: For the initial period of the Company that begins
upon signing this instrument and until those bodies that are part of the society make the
new appointments according to the bylaws. The founders unanimously proceed to make
the following appointments:
a) BOARD OF DIRECTORS
OFFICERS: ALTERNATES:
b) MANAGER:
identified with Colombian citizenship card No. issued in Cali
ALTERNATE MANAGER:
c) HEAD TAX AUDITOR:
identified with Colombian citizenship card No. ssued in CALI
ALTERNATE TAX AUDITOR:
The amended names (Translator's nj ended in the original deed)
Translated by H H H H Official Translator, Registered with the A

Approvadb^jieMlnlstriesofForelgn Allaire, Education and Justice. Resolution No. 2889 -
Ce u ar Bee er: < E ma|
ptonajjjj^HHHHtf '' ' HHHHI P BHH ^4HB" ° '
001158
All redactions made pursuant to exemptions (b)(6) and (b)(7)(C), (b)
(7)(F)
OXFORD
valid
THE BYLAWS AND THE MINUTES END HERE.
Once this public instrument was read to the deponents, they approve each and every part
of it and sign it before me, the notary public who certifies to it.
Written on security pages # C,A. # 5045826 / 27 / 28 / 30 / 31 / 32 / 33 / 34 / 35 / 36
(Resolution #3301 of June 30, 1993)
(Logo) MINERVA DOCUMENT STATIONERY 10
(Handwritten number) 367 CA-S046836
COMES FROM PAGE # C.A. # 5045835
(Sealed and initialed) NINTH NOTARY PUBLIC / COLOMBIA/ CALI
CORRESPONDS TO DEED#4846 OF AUGUSTS, 1994. FEES: $127,750.00 Colombian
pesos Decree 172/92 The last name • H H H t h a t appears between lines is valid.
(Signed and fingerprinted) H H ^ U H H B H H ^ H H H H H i l ' Colombian
citizenship Card No. m Issued in Cali / Military I.D, No. j H H H H
Military District No. 16 / MARITAL STATUS: MARRIED
/
(Signed and fingerprinted) I H H H M N H M M H H H B N H H Colombian
l WITH
citizenship Card No. WKKM POWER OF ATTORNEY FROM H H
(Signed and fingerprinted) |/Colombian
citizenship Card No. I Issued in Cali / MARITAL STATUS: MARRIED
(Signed and fingerprinted) / Colombian citizenship Card
Translated byl lOfficlal Translator, Registered with the American and Canadian Embassies
Approved by the Ministries ot Foreign Affairs, Education and Justice. Resolution No. 2889 -
Phone-.lHHHMv Cellula Beeper: I Codel E-mail:
(b)(7)(C), (b)(7)(F)
OXFORD
No. Issued in Bogota / Military I.D. No. (Blank) / MARITAL STATUS:
MARRIED
(Signed and fingerprinted) H H H H H H I ^ H H H I l Colombian citizenship Card

M H N M I issued in Cali / INVERSIONS ARA LIMITADA
(Signed and fingerprinted) H H H H H H H H H R H H H H H I I ' Colombian
citizenship Card No. mgggg^ j s s u e d J n C a |i , W |TH POWER OF ATTORNEY FROM
(Signed and s e a l e d ) H B H M M M NINTH NOTARY PUBLIC OF CALI
(Seal) REPUBLIC OF COLOMBIA/(Colombian emblem) / CALI / State of Valle Del Cauca
OFFICE OF THE NINTH NOTARY PUBLIC OF CALI
.-SIMPLE TRUE COPY of Public Deed No. 4846 / of August 5,94 issued for (illegible) in
10 folios, given in Calf on the 24th day of Nov. 2004. | | ^ ^ M J j J H B H !

NINTH NOTARY PUBLIC OF CALI
(Signed and sealed) / (Seal) REPUBLIC OF COLOMBIA / State of Valle del Cauca
(Colombian emblem) / CALI / NINTH NOTARY PUBLIC
Translator's note: the following seal appears titled on the last page of the document on the
left and near the bottom
(Colored seal) Superintendence of Public Notaries and Records / The Director of Notary
Proceedings certifies that the Notary Public who authorized this document was duly
performing her duties on that specific date. (Mechanical signature) / December 7, 2004,
(Round seal) MINISTRY OF FOREIGN AFFAIRS / INTERNAL GROUP FOR
LEGALIZATIONS AND APOSTILLES / (Colombian emblem)
Translated by • • • H i Official Translator, Registered with the Amarl

Approvedbvlh^lnislrlesoôreign Affairs, Education and Justlcejtesojuflon No, 2889 -
(b)(7)(C), (b)(7)(F)
OXFORD
TRANSLATIONS
REPUBLIC OF COLOMBIA/ MINISTRY OF FOREIGN AFFAIRS

APOSTILLE
{Convention de la Haye du 5 octobre 1961)

Has been signed b y i m ^ l H i H H H I I i ^ H H

Acting in the capacity of: SUPERINTENDENCE DIRECTOR
Bears the seal / stamp of the; SUPERINTENDENCE OF NOTARIES AND RECORDS
Certified
In: Bogota, D.C. On: FRIDAY. DECEMBER 10, 2004
Under No.: 1331109 Signature: (Signed)
MMSTRYOFFOREBNlVFAIRSMINISTRYOFFtWEIGNAFFAlRS
No. OF PAGES: 10 CP 456757

Translator's notes: 1. See bar code on the original document
2.This information comes from the left side of the original document: AQ232327
Official T'rarisl"<<>r /\ppio'/<;u

by the Ministries ol Justice,
Foreign Affairs arid Education
Resolution No. 2889
Translated by M J I i H H H O r i l c i a l Translator, Registered wflh the American and Canadian Embassies

Approved by She Ministries o! Foreign Affairs. Education and Justice. Resolution Mo. 25891""""" ——
ph
o n o : H H H H H ^ H V C e l l u ! a r H H H H l B 8 e p e r : H H i C o d J M i E-mail:I Call
001161
exemptions (b)(6) and (b)(7)(C),
(b)(7)(F)
El*
ESCRITURA PUBUCA NUMEROs MIL aBSWPA (1.060

*k . tC fU <J>. lA *. P>. It. K |». . . *1, «
FECHAJ DIOIBMHBB vgaHggnHB (27&E MIL mmcxm

TOS HOVMTA T BEES ( 1 , 9 9 6 ) « -
ACTO D CQNTRATD: LIQUIDACIDN SOCIEDAD.
RAZDN SOCIAL: ALERQ B . A .
En la ciudad de Santiago ds Cali, Departamento del Valla del
Cauca, Rspdblica de Colombia, ante
Notaria Diecinueve Encargada, comparecibi

mujer mayor de edad, vecina de esta
ciudad, identificada cpp^^ la^^:6dula da ciudadanla No.
i v i l caaada con
sociedad conyuga^r vijgenta, h abligarse,
quien obra en esta?4 >>^^<3^Jj ."^Liquidador y/o

Repraaentante Lega'5. [ de^ â-^Jl^lfect^ÊRj y $S.A. , lo' cual
acredita con el Certi-Fic^ la: C&mara de Comercio
de Calx, el cual SH adVj4nta par^ qugfâ pVotocalizado con

•w
6ste instrumento, y,dij

M*L ediante este piiblica
instrumento sepropone. IHA Obi lea el Acta de
Asamblea General de Aqcio'fUl? jp^dio de la cual se

•w&
liquida la sociedad, la cual 'e&0^.V siguiente tenor
A C T A
El dia 21 de Diciembre de 1.996, se reunieran en la sade 001162 '

(6) and (b)(7)(C), (b)(7)(F)
c a n s e c u e n c i a . la asamblaa praceder a.
taatar c u a l q u i e r t l p a de d e t e r m i n a c i 6 n y
en e s p e c i a l a q u e l l a s que t i e n e h que v e r
con e l ordan d e l d i a .
o >— NQMBRAMENTO DE PRESIDENTS Y
SECRETARIO: Analizada la
propuesta I n i c i a l SB nombra camo Presidente a
y camo Secretaries a
quienes s e declaran Legalmente posesianadOB,
coraprameti^ndase a cumplir can sue abligacianes
legales y estatutarias.
3.- LIDUIDftCiaN DE Lfl 8D^|jEDfllÊl Liquidador manifieeta que
'if ill
en'au totalidad la 'feond^JLan pa^^wonl^^de fa misma.
Para ella se procede a rte,de1

' ''i
Liquidadpr las cuent^;,^| ,f^;/;,iibntinuacI6n (Ver
Anexo).
-. Boroetida a cunsideracfibn dl la Asaroblea General de
Accianistas la propueata anterior, s e dlspane: AFRQBAR

;!l
• ' ! •
EL BALANCE DE LIQU1DACI0N 0 CUENTA FINAL DE
LIQUIDACIDN. Votada l a prapueeta se aprueba par e l 100%
del quorum d e l i b e r a n t e . Vi
001163
s ill
diligencias
administrativas a que haya lugar. Vatada
la propuesfca ea aprobada en su
Integridad en forma unanitne par parte de
tpdas loa asistantea con un quorum
del 100'/.
... i . . , . . . . . i
5,- Teniendo en cuenta quo no se pagaran hanar arias al
liquidadar se conviene
adjudicarle cualquier derecho pendiente que tenga
ia saciedad.
En cansecuencia da \a •faciiltase a l a ssfiara
c6dula de -•' t f ludadanljro^Pgi.9gl.y7 < ^Cali Valle,
para quo reciba - '*\ A » ^ , M ^ | J ? S P V a favor de la

aacxedad ailn despu&g de ^#^îg%jl: âquid^pa.
''I
&»- ftPROBACIPN DEL ftCJJftg L a l d a e l H ^ a p b r p a r t e de las
«.i); $&^
asistentBB s^ o p ^ pqr;, 40r,^^,<JC s*n reaervaa con un
quorum favorable del , !uySAV
,^^,II.I..—.••••— . ^ — . . - • — . M i - . . — - • ' f II *f I Hi M^VJIT.
' i
Siendo las 12.DO M. se lpv||â. la aesidn y se da por
terminada.
-it
Presidents. Secretaries.
001164
(,•• -J52-9.64T exemptions (b)(6), (b)(7)(C), (b)(7)(F)
»» W*rn[ .•ff.ttr.i--^ >^«5;

i FECHA-: LUNBJ3 22--. NOyiE^BRE 2QO4 1 0 : 2 i s j ; 2 : : :• • ".'.'"'"
i '•.•
REJWBL1.CA :D,E'COLOMBIA '"•..••

'.t ,' .t. '.- ' /
'•'••, • EL SWSCRITO.; SECRETAf&Q. DE/LA/CAMARA DE COMERCIO OS CALI
i • . " . . •.,'. ....•-,..

I-.'1 ••":•'. .• •'• ' • •:.-':' '•
r'NOMRS Ss'ALERQ S- A- •
{'MATR'iGQIA ': 38 2'2.1^-4'
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iQOE>'«OR'ESCRITyi^-NFib./-'Uj46:,DEL: 0.5. D& ASOST0 DE'. X994 NOTARiA-NOVENA-DE CAT. I -, INSCRITA-'

i. EN..J-A* eAriARA!.:pE'.COMf;Rqib,'Er;' 29; DE^ :A(3OS.T0 qE. l'99'f-.BAJO1 EL. NRO.. 80282 DEL tlBRO i j i ,SE
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:
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J
I •.•.••••.•.• • • • : • • • • • . . • . . ; • > • - . . ' . , . : • • : • • : ' . . • • / • • • - • • , • • • . • • • : . • . . . • . • • • . , • • . . '
{ • Q O ^ ' e O R E S p R I T D R A ^ N R O ; ' 1 ^ 6 0 ; D E L - 2 7 DE DICIEMBRE DE 1 9 9 6 - "NOTARIA iDIECINUBVE Dfi CA'Ll • "

j ,.JNSGftIirA' EN t 'IiA'rGflJ«pA-' : pE ' e d M E R C I O • EL - 3 0 ' D E - D i C I E M S R E DE;. 1 9 9 6 - B A J O . BL- -NRO ,1 '!96'9i5' D E L ' . , ' -
[ Li'BR6!i^';,i^-sqci'ECAD'-Fpe.'LiQakpADA. '•'• . •.-.•.'. '., • •• ' ;' • • . ; • - , ' • • • > • ' • "
i •;."• ,:'' ; ';''' •'•••U:'1:,?'"1-''1'''/^'-""- 'pERTflCA •. ' : \ ..'['• • : ""' ."• ••• " I".;- ; . ' " ;
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:
I QUE.'.EIOflVLp- ANT-EjilOR: '•'•$$ .CAblCELADA S'jt-"M&TSicaiiA'-"MBRCAilTiL" NRO, • 3.B2212 " r ' 4- i ,IA(-S)-
!:^TRiG0IA{isr.GbRltPSRONOXÊfS)-. A SO {SlÊSTABLEG^MIBNTOS DE:GOMERCIp -N.R6{S,) '.: 38221,3 -
f.v?.::-1'1'- •••••-•"?;A>•:"•.••"•• . - . • ; ,. : • : . • . : • • • . . • . ;
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fflUg-'-jiCl' '.FIGORAfJ "OtRAS IMSCRreciONES QClB • MpDIFIQUEN TOTAL' 0 PARCIALMENTE EL" 'PBESEUTE-•' ' ".
fOERîpiCADO.. . '.•'•'•••.••..•:.<••.• "• . ' ! " • . " ""' •'• . • • . .' ••-.•• ••'•• •• • • -
, • •
•JLO'S.'-ACTOS -Y pbcbWENT0S.AREGi3TRAP0S.-pUEDAN EN F?.1Ê_CINCO .'{•5J;;.DIAS.:Ji&.BIL;ESiDESiHEa-J3E-iA
•PBCHA; D E . ' s o eraLleAeiot^'EN.-Eij BotBfiN 'tibi • • . D
•.'DENT'R0.DE'DXGR6'''TE;RMiô''Wd.SEAN.GiBJEÔ OE--R& —
U-l M.*'-A.,;!AI<i: A
j • ''PS dONFORMTDfib'' "CON'' El.' -DECRETO. 23;SO"--:bp ' l

•.SUPERUJTENpENelA'DB^;i^pUS.TR.IA' -t COMERCIO'-LA| A^^^.tfMlit'K
•JÊME •PLENA; VALlWz-•.&ARX-T(SipaS LOS' EFECTOS •L| IcinvinUM •» t« Man <u • otlrti* 1M1|
.Jjft'bd -BNi'eAL't' (ft.- ip'5'.•22v.biA3-:..j3j:L' MES' DB' -NOVIEMI
Pafc RdpaWUal Oe ColombJa
pi mwanto dooumento pdbllw
HtiWoflmuulopan HIHRHHIHiB
;ElSS^tEWRKJ£iS€
i t , ;iisv»-s
I—<:'l/J:.;-.rv" ' . ' • (
i •'••• '••':" • • • : M B v.'^^fipsNtJW^ •• . * • • • . - > • :
t
' •• •'•'• •^|l|i.-^^^M^^' ••• •
.4
h •^•:;v.:?-i;vi^
001165
y ^ t/fvf £pu r/fp
/
'3W
ESCRITURA POIILTCA NUMRRO: tUATRO MIL OCHOCIENT&S CUARENTA Y SEI

( 4846 )----/-
En Call, departuuumto d e l Vallo do'l ••'-•mo a. KepuhJ lea dp Coloinhjjj
a los 4: IN CO •C 5 ) diae dul mo a da AGOSTO do
mi3 navuclentoa novonta y ^ a t m < lUti-t) , ante mi,
noiaria NOVENA del c i r c u l o •.icy
dec 0<il t<^ ootnparec let-on In.?
seftovea: mayor de edad vtuiino if
oat a c iudad., l d e n t i "C it adu oon •"•c'duLti dc c in J artanI «i U11
de O a i i , iayor dn o<Jcui
y veolna do oufca oiiidad, ideniJIicada c»n la cfidula da (nudvKlanfn
Q tvor
^ '^H^^^BBH^° ^tiotk, •HHHIIiHÎIIIHHHiH^ ^'
adnd y VIMCI.UH do C a l l , Idutihlf Jo idfl o<jmo /ipnreca <i\ plvi (U iiu
i'inna, qulen ohra tsti >-.n cundl\jl6n d.i Aprjd<ipadfi Unuoral dr- H H H
rnmo coon IK en <•• I puder quo «o anoy> pv'u'K r.j
p r n t o e o l i a i a r l o n , , ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ H mayor d.)
ntlnd, v«o i na d«i GB1«I
t j.u(iud r I flonl.ii'iwida con l a <ididu Lfi di J
oiudndttnia. No.
du Ou 1 i, H | H H j j H | H H H j H [ mayor d»
oJad y votijiui do
OjAudad, 1donti£2oada oon la coduLa du
oiudodanlo No
dw Cn M , <iuiuii obra on HU uondipJ^n do
[{aprufiunt'.anto loâl lo La oouicidaii 1 NVEHmONKlS MiA LIM, oomu
oonota en e l Corki F..\ undo jla Oiimara du Coniox'o.lo do Oali quo im
anoxa, ,1unto con la Cojiia aut,ctiti«a drsl Acia do Junt.a da Koctao Nu.
CO 7 en dcmdtt ao Je a u t a r i a a pnra oonofcituir l a oociedad quo RCJI* oot.o
i
inatr umenl;o no croa y do Ifi/cuul hnno pnrl.e uu jr'opi'oaont.adf/, ^^^^^H
^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ H mayor do cdcid y yoc Ina da eatja c/ludad,
Ideatiflcuda con In r.6dula d« ojiidadanla No. B U J ^ ^ ^ B ^ " Gall,
riuiun a bra on tiu c:opdici6n du apodor.'ada GunoraX ^ ^ ^ ^ H H ^ H H H I
i ^^^^^^^^^H^cumo
tie anoxa paru
nnnfit;a on in coxiia a u h e n t i c a d e l Poder que
RU proLot:nl i u n u i a n , bAdou p.l nnrun«nfct> capacen, de
«<» estado
hab i ] o&
oJvi L
y, n v H
onwadof. low cu.itj/o uv mriMu y PoLfcerQ «1 t'osbantr ,
p o n l/r a i ci f y o b l l g a r «o y
dJ,1eron:- - - ~
PRfMKRD; Quo en c-sL« puhli/o lni.t,/Minn,uii.o obran en l a s condicionef
antfcsrlot'iueute mencionadau. • - - - — •• - --—
SKGUNDO: Quo -an I U B condiotuud.j unnt^.Mj y por inedlQ da euta
OBcrltura oonaLituyen \wi rior\ut}i\<{ ooiurtrcajd «n6nlm« denomXKMd66
001166
(6), (b)(7)(C), (b)(7)(F)
CA-504582
VIENE DE LA HOJA # C . A . # 5 0 4 5 8
tps y oelebrur law uont.o&uus do nuturalesia c.i.vj.1, labcir&T,

ipal, y adminisfcivittvfi, tr.endl«ntos n deaaprollar-
Kp^tjato s o c i a l ; 1) Prestar a toroerosj con ojat*aonal, oon equipaa
g)?ios o ajenos, teenologia y servioioa especialiaadon
jj.afcivos a cualqulera de Los nagocloR aocialea.—
3RAFO: La aociodad podra otorgar garant las parsonales . o
î'ee para respaldar obi.Lgaolonos controidaa por pez-sotii\;;i
jalea o j u r i d i o n s , previa aprobacjîii axpraaa adoptada por l.a
n^-.directsva an «aabe i-uynt.uk>.--<^-- •
?I5ULG I'll. ARTJCULO QU.1NTO: Cap.tf.al, Acetones, Accian.tiitas. - KJ'
••V ;
^.tal au1-,orizado do i a naoiedatl ea do CTNCUKNTA MILLONES D.S

Jft, • (q) 60"000.000.oo) HONlilDA G0RR3HNTK, repreaonbado «n
|qURNTA (50) a c o i o n a t i nominnhivaB dw va Lot' riri UH HILLON DE PESOS
P> 0 0 0 . 0 0 0 . oo ) MONKDA i/.OURlKN'.fE c a d a u n a . - •
fecapitai eruacrifco an da TKEINl'A MI.LL0NSS D5i' PBSOri

ÔOO.OOO) WONED/i CORRIENTE, ill v.Id Ida en TIUSINTA (30)' ticcionraa
itivatt de v a l o r da Un Hi l i o n dti Poaoo ($1. . 0 0 0 . 0 0 0 . o o i cada
lii;>.el c u a l h a a i d o pagndo p o r Icjei aooioniafcaii ciortBb.ttuyont«»
do carifcado aei.l: /
/
ACC10NES VALOK $ %
3 ' 3.000.000. 10
3 .•• 3.000.000. 10
3 3.000.000. -10
3• :K ooo.ooo. 10
3< 3.000.000. 10
15.000.000. 50
;-.io SO.000.000. .L00
|lCULO SKXTO: V a r i a a i o n del Cl&pS fca.i: l..a n»amblc-ia g e n e r a l do

jjianilBfcaa i.iadr'fi auinori'liar a dhiminuit' a.1 c a p i t a l , d e l a csouLodnd,
i.'fli BB t r a t u do d-lominulr, debcn?a actx-lrae a low pequlaibon
|&bJ.HCidao por uJ. Arblculo 140 do.3 c6dign. da
^rc4-°' "T^ """ 00116'

Ti-CULO SF.P'L'lMO; Kmiaion de accionen. - Luci arsototiOB &ov&n
VIENE DE LA HOJA C.A,# 5045827
fjinevn irifmripcitm y la oxpodiaicm do 1. fcitulo a l ceisionario ae
! doapu&a do oanaolada e l d a l nodeute. Para nogoeiar aoclonoij
iyadaa con. pranda, r.u rocjuisrira la auturizacidn d«l
^ i&dor.
SlOULO DKCIMO CUARTO: Ena.1enac.tda de acoionea.- LOB
K>y
!r'/
,pnintaa quo deuetm ena,1enar eras aooionep.-en todo o en partei,

irAn ofrecoz-l.au en pcijiier lugor a la tiooiodad. La oferka B(*
'<por BBcrJ/bn a trav6s tio-l /jarerifcra do la eioaiedad y an e'J.la tt«
1
daz-fi a l ru'unero da acolonoo a orui.lonfir , e l preoio y l a forma
;o da lao mianiaa. l.a sor.iodad gozarS de un t6rm.ino do l.rei.nta
liaa h i b i l t i s para apeptav t» no Ja oir«r1;a, oifiendoraw a .to
ado en la ley. Vencido ej tormino a n t o r l o r , ai. l a Boo:Lodad
pe. 'pronunciaiiiiojito alguno, o a i dscsidn a d q u i r i r Ian accinnoo
•^^,0tfsaittA adqyilvlclaa parcialnienbe, ai fiov&ntQ o f i o i a r n a loo
jl" acoioniabaa para gue eaten traton do adtjulrir l a totalldad.
**4 ftireafco de laa aoclonoa oiljf-ficidae, HUfe&fin ol <mea, I?U.VB. XO oual
l|eAri iûfilmtsnto un plaao dts hrointa (30) dins habiJetfi. Ert
ndido <^«e lau accionlotaa podrdu adqulrlr las acclonea en
|pprei6u a Ian gue pontmti on In aooiedad y venoido ol tezwino
itado, lao anoionea no ndquiridati i>ctr In aacledad o por lau
ôniatao, podran aav oodidaa llhreniwnta a t;Brce>rcm. Ji'n eol;«
tp, la negoniaoiftn ae pispftsocionara dtint.ro de l a s clnco (5)
» •
Biguj.enl.«a a la ^rondioioa dwl ox port .to t o . Kt-ita clo.iimi.ln
. /
d vlgeucia mient/raH l a « a n c i u n o a d<s l a u o c l e d a d no «e

me
&l. 0 C V i b a n a n H o J a a d «
flrea.'
'CULO DEC.I MO QUINTO: Der-ifCiVioa de .lea acci.ianiatas. - ;5:i.n
ioS luiclo de los deman quo loa oborûo la ley, Iot3 retslamontOB y
iteptatutoa, Ion accioniahaa tendran lem aiguifiiites d«raohoa:
!1" de p a r t i a i p a r an Ian dellbBracitmoa de l a asambltia y votar
feilaj 2) El do r e c i b i r urio part.o da Icio baneflctoa oociciloa auo
atron IOEI balantsusi do t i n do o,1ern.ieio, praporalonalnicmte a l
i6r do flUB ixaoxonoa; 3) El do rieKociar aua acetones en loa
inau d<j Ion pi'osHntou ontatvubon; A) J5J. do ii'ispocoionar
irttnientt!, dont.ro d« Ion quinco <li.i) d.taa luibiloa
i^pioraa a law rouniorien ordlnarioo do la atjauibloa, .I.o« libz-ctn
W s dooumatit.t)o a <iu« HB jfuifierem Ion Arl..i.calou fia448 y 44? del
|igo df) couiorcio. ii) Kl d« rooibir tin proporcian a l valor de fum ,
iir n»T<t.A HH I « M not. i von »Muia.'leta a.1 momenta d« la
All redactions made
]
pursuant to
exemptions (b)(6) and •">., i\~(
(b)(7)(C), (b)(7)(F) CA-50458M//
VIENE DE LA HOJA T
# C . A . # $)4SVe>ff-
tjfcroB do l a j u n t a dlrootivn, pr.inotj.xn lea y [lupLesrifces., a l
i\' o mifl wuplonteo, o en I'ugfir d« oatti r o v l a o r , doaignaj:1 "a"
^'.eaaciueicm o flrma do ormkadaroa para qiie desempeften lei
jBorxa. de conformidad con Iaa dlapou.l.«lonoa lagalea. 17) Senalar
tipermineraciones d« l a ,iunt'.a dlreofcivn y dal re v i s o r .fiadai y
>« Bfiir l a do '.Iaa mandatarioa a <auieneni a l i a canffiere eamiciiones
l-vppr sun fiaractortaliifjaa, iinpliciuen honorarloa. 13)
nf wpar Jos ootututoo de la ooctodad. ,IW) Deere bar l a disolucion
i^Spi'osn <Ie l a oooledad y autartsiir ctu I;ranaformaoi6n a J:»iai6ri
*^ft'j?a .u atraej nompanlus. 20) La.a demda qize J.« coproeponden dej
'î
u o v d o c.y^ a n 1 a. a
ICJpJiO DECT MO OCTAVO: Seoiones ordinarlaa.- Laa seaionepi

îaa <ie l a asamblea ao ef^ctuaraii oada atto derjtro de loa
l'<3)- priraoi'OH mosati del tifio. Si la asambleo. no fuui-e
3<?ada, ee reutilra poi: dorooho i>ropio ol primer d i a hdbil del
|$e, Abril a law dloK ( 1 0 : 0 0 do la mai'iana, on o l l o c a l donda
ît-bno la, admin I s trnci6n, on el. liifjar dol domicilio p r i n c i p a l du
adoiedad..' ^ . — ART1CUL0 DECIMO NOVENO: Saaionee
fSaordinariae.- ARTlCUTO VIGKSIMO: Convooatouia.-- Toda
/poatorla. do aaarablea da acscloninbaa, ue hard, por corauriieaoion
Q«§ |jita . que so d i r i g i r r i a la ultima, direooidn del acoionietn quo
rogintrada at\ la admi.niHfcraa.i6n. En csl meneajo do
fiyocatoria na inoort:nrd o l orden d«l dia. La, canvooaborta parn
iion n r d i n a r i a de aBamblwa d« aiocioninfcaB J3« hara por lo.monoo
Quince (I.Ji) difia h a b i l e s da a n t i c l.paci<3n a 1« • f. eoha en quo
•êner lugar.* l a r«uiti6n, excluldoH loei dlas <1« 1« oonvooatorla
av.la reianirtn. Para t.an rounionan e x t r a o r d t n a r l a a b a a t a r a una
| ; t i o i p a o i- 6 n d o o c h o ( a i d J. a a
M«« IBS'. —' " ' " '"" .,
|;CUI.O VTGESIMO PR1MER0: Lugar de rw\ini«ln.- La Asainbloo ae.
»ird an e l lugar del dom.i.c.fJ..lo principal de l a oociediid, eu ol
a, a la hora y en ol .Lujgar J.nd:U:adcJn en el mensajo du
yooatorla. iKufilment.o podra reunirHu, a in previa c:l.taci6n y an
Lqu.it)r nit;.Io, cufindn otjt.uvinro roproi]onl'.a<ia In bobalidud do ,'l.uu
|4.ari«B Buaorifcafi. La. ttaambliifi oxtraordinarla no padrii tomar
îpionen aobre temap no incluidoR «n el ordon del d i a innartado
\&. oonvocatoi'ia/pofo, una vest agotado eata y por dooiai.6n do
imanoa del eofcorita por cionto (70%) do Iaa accicmos
All redactions made pursuant to exemptions (b)(6) and (b)(7)(C),
(b)(7)(F)
V)
is
m as
VIENE DE LA HOJA IC.A.#
n |yor mimoro d»t v o t o a y a a i on ocdon d<!{jo«nd«nt,«. Da c a d a liafca HIJ
l a r a r a n elogician fcanl.nn nombr-en cunnl.aet vnooa quepa e.l
qîentB en ol. numero d« voton emitidnti por In micimn. SL quedaren
jlgtoa pot' p r o v e e r , otatoo eorraopomioran n l o a roslduoes man
v>
jjtis, aserufc&ndoloa tamb16n on avdan dwHoemdoti'tna. En oaao do
"a ifce en. l o a r e s i d u e s , d e o i d i r a la Drfar1r.cs. Loo VOIJOH on bianco no
SB
put.an pa.ra d e t e n n i n a r ol. ounajfcnto olecfcora.1. Law pornnnasi
Seederiaa anouna padr&n
nueva »niece16n>
e r raeaipi/KsadaH on aluccsionos p a r d f t i e c i ain
en In yut; a e cjmp]c:o o.l aJatoroci do
qoient'e o l « o t o r a l , a memo
;i Îjnidad.
quo Jau v a c a n t o a rae provoati pur
das
fCULO VrGKSIMO OCTAVO: AcUin.- l)e l o n o u r r i d o «n \nn
i4-onea at* d e . i a r a traotimotilo *.sn «1 l i b r o do aofcaij de la
it1
jlhlea, rfjglati'a.do y f o i i u d o «n l a ruimarn do coinftraio d«t.
am
{ o i l i o s o c i a l . Kl ar.hu do todn noaion so i n i c i a r t i con ol
bl€
apo fie ni'fien <iue 1» noirciHptmda y cxpronnrA, cuando menoa, oL
rv
tot, l o i'echa, y l a hnrft do l a r t n m i o n . La L'ormn y in
i
ra«laoi.6n de In uonvniirihorla, In I-LeUa do Iaa «.a1 f-itnntuu non l a
Wv Îoac,i6n <iol ruimuro da ace; Lcm«a prop Iaa o roprHtn-sntadas y u l
art pal do a n c i o i u i u ; lots anuntoi! nj"ai.ri don, iem d a c i a l o n e a iidnptadnfl
j l nt'imero do voter, an i a v o r , a una oouiinLdn p l u r a l a u e rendj rd
da'i fQrflio e o c r t h o . Lîo a«Laii deV»oran uar firmadiaa poc el. pi'eoidanLn
'•la aaambloa y p o r el n o c r a L a r l u . Lun copints dn l a s acljcin
Itoriaadaa por « l n o c r o t a r lu o por al^da l^cpveoentaiita do J.si
ooladfid, (sord pruobci ouflc1cnt<o do Iaa huuhau qua o o a n t o n en e l l u
lentraa no no domurautro La faloodad do la. c o p t a o d a l an bo
ppsciiva. - - - - - - — -
hcOLO VIGEIJIMO NOVEHO: J u n t a L)ij-t.TjL!v,-x. - Ln aoaiedad fcor^dra una
ttta d i r « c i i v a {;ompufvnâ por i.rtsii (3) micinbrou prJ.ncj.)palou, r.adn
da 3oa c u a l f t j Lorinrd uti nupturitft poi'Honal. cjuian l o rr-tuinpIanartv
^!;Bxui L'altapi fcoimxiraleu r> -- -»- —
paolutan.---~ •' • "" "
ÎCULO TRJOKHTMO: E u c c i o i i . 1.OJ; iniembron p r l n o i p a l R s y
^lent«e d« La J u n t a no r a n o lefiidoo y romovidoo Jibromont.« p o r In
f
Spmblea t f o n o r a l d o a<$u i o n lut/itt./- - - - - - • •- •
I iQK PICULO TRIQERIMO f'RIMKRO: Vcu'lM^.-- HI p o r i o d o de dnrarJi6n do in
jjiJU d i r e o t i v a aura de un (1) aflo, e l uua.t comfliwaea a p a r t l r dol
Q !& de A b r i l do cada afio y Lorniinard ol IM do Hnvy.o da'Jl WfaA-M
ilai IgWiente - PARAUKAFO: Lat5 initiiabroH d« la ,i\ant,a d i r e c t Iva
All redactions made pursuant to exemptions (b)(6) and (b)(7)
(C), (b)(7)(F)
'*4'A ^CA"-5045
VIENE DE LA HOJA # C . A . 5045
[Cjnatanoian dcjadcia pur ]nu paH. iuJx>a<it,nu, y la lac ha y horn de
1 Auaura. La Junta
jnniun a qua eota oorroapanda a an \tfva\mi6n
podi»4 npi'ubrtr u obdobnr nJ a c U en la tnismu
a t g u l e n t e o delaftur
&
. > facultad a umi aomision p l u r a l quo rend I ra informo oaoril-o.
as laa actati debex'dn Het1 L'iruin dao par el proaidenba y ot
TQbarLo y an su d«fect.o. yor yuiou hagei outt
ICULO CUADRAGEirSlMO: O e r e n b c - La adrainu-iLraciori de 3a oompaHia,

ffeprROontqoi6ri lraftal y in fteriLinn do unn tiB»*oc:lafi «staran ci
•go del ffevatiLa, guiun terjdra un HUP lento qu« lo reempla7iAi'a
o a a t> do f A 1 t a n i, u m p u r a 1 o t\ a
w
•m Iflolutjas - ~^~ '^•" ' ~* " •*
d ICULO CUADRAGRSIMO PRIMERO: KleLCirtn.- KJ ser«nbo uora oiofUdo

]a junta directiva. f.ft junto doriiguara ig-ualmuniti u IOM
1
Xitaaa.vi.oa, qua 1;ondran tsl cat>a«(.er d« priniec y Heg\indo uuplentit
[el gerente y nu© lo ree,nip I aaaran ttn im ordon en BUD f a l t a a
iporalea o abaolutan /mlcntran n« doaigna ol
,tixlar • ———-——- — - — ~ >r _. ~—— — ._„-„
ICULO CUADKAOlSSiMO SKGUNDO. t V , r j o d a . - Kl p e r i o d a dfii gorenbe
de s u e supl«nt.OH a e r a d e u n ( 1 ) afio, o l cruet on o u a l q u i e r tiempo,
a set* removido at.undinndu Jo menuinnacia on ol praa&tittt
iâfcuto. -— — - —
ICULO CUADRAGbSlMO TKKCERO: I'unutuiuiH dal j j e r o i i t e . - EJ garenU)
vA Jaa aigui«3n1-es funriionoa: 1) Ini-ervonlr an lao diverciaH
iracionen d« l a uampaiiia pdra aaogurar la n«-ijap ufciJ izaoirto do
O
, jH rocurooo ttaotiomiooa. L't Vijtilar Inn ingranon de Ja oompari5a
4S it! loa diforantoB concHptou quu He oauuon. 0) Ovit^nbar' «7 jnan&jti
loa fondoa y valoroti d« la namprinfn d<3 coninrmidad con Ititt
denoB do l a aftuunbiea du aucJonitiLau y da Ja Junta d i r e c t i v e . 1)
0lant«r toda ulaya do cnLudiou y gdntônou r o l a t i v a n at f'trwin
•a
amltmto y o e r v i c i o do la daudfi do la oompnnin. 5) AdoLanbar loi>
ibudioB f inane iaroo dir'tgidtia a haoor1 in/in oftoionLoa Jau
H racionea uormaloti dfj la oompariia. ("o Gum pi i r Jan dec la toners d«
anamliloa y do la junLa dlrecblva. Vi Uepreaonbar- loftnlmonUJ
\ila uooiud.id nritu Ja» iiul.ar1d.idon ii« t:unJquior oi'don y
I j^turaJesifi y ntiLo o t r a « ptunuiiKifj juritJioao o nattiralcsB, i'uoi n o
t r o dca J u i a i o , oon anipl iati hacultodâ MonocaJoa para «i buon
aempefio do eui cargo y con Ion podoroti oRponialea quo rue lao la
bvpara novar, iranaiKii*. oomprorwitox* y d o o i e t i r y para aomporeoor
(b)(7)(C), (b)(7)(F)
?4 CA -50458
VIENE DE , L A H O J A # C.A.0504
par goo mlonLrtta no uetin romovtdoit. \- - - -- —

A
' RT1CULG QUINCUAGhblMU: Hinoionoa.- Aparfcn do Ian facilitation y
it Cfjeberoa <jue ocaaionalmcnt« aa In cmigncu par la asrunbloa, aerdtv
u doJ ruviuor lineal: I) OrRaoiKur y aJJactuar Ja
;
iaouliiaaci6n. de laa opernotcmoa oant,ablou y H n a n o i e r a s do ]«
jfcbmpafiia y duL wraLado da ous bienaa, uan su,jec±ati a La Ley y
lentro de l a s oriontnoionea c trmtruccionos detcarmiaadaa por la
ie ij&Samblea.. 2) Somobar & con£3ideifiaoi<5n do In auarabltia loa proyeotua
iQncornionkaFi u la rovJtsoria ifjncal un cimnto a au eefcructara
tdmlniBfcrutiva, con eapeciCiortcirtn do auts dependonoiau, nervicion
Botao y n^mero do emp I atuiaa cori «ua Cunctoaea y rcmuruirci
Honos. 3) Numbrar y romover Libromunho a loo emploadoa de J,a
svlaorla cuyoo car HOB hziyan «ido crendos pot' Ja nantnbloa genoi*nl»
P Sometar anuaJmonto a la qunmbJaa ol pt'onupueato de gaatoo d« In
avisoria, n.compaflado do Ion dat,oa nnoaaixfiaa para cu propiu
1 gfloneidei-ncion. 5) Supervtaur y unnLralar- pnra, que Ja cont.abiljtiad
a| llavo can a r r o g l o a 3a ley y exatninai' on forma ptsrraanonfcc IIIM
L
^peracionen oonLablea y 3oti uomprobanbau inV.ornos y external)
us jteorreapandltinfcort, £i iftn da ortruioraxô dts Ja ttoiToncion- do Ijui
a] Lamas can faoultad de prHucribtr nur-mnR bScnloas para BU nu3.1or
at Bontro L y da Hoiicjt;»r de 3 a juriba diraol-lva y do todafi Loo
r*funolanarioa, da baa, daaumonkOH y on woriarai, cnlaboracidn gnvd
3^ yûe dicho c o n t r o l puoiia efHcLuaniH HaLifllachorlexnieuto aooptadae, let
Iaituaci6n •Cirianci era de In fiampaTna, al f.csrminar ol perfodu
igvinado y ai a l HOKundo expx-oon eorronfc.iinanfcfi tsj ranultudo do J«i«
Ipperacionfts d«i diaho pwrfado. i) IÎH r e s o r v a s , cmlveidudua v
pj^Beronolao q\m totiKfi oobro Ion «n(.ndoEt (iticunuieros. 1{S) Slnborat'
Inifnrmn anual para In rouuirtn urdinarifv de la asnmbleia er» Uoiuit'
ll menoH ae <jxpr«se: a) Si Ion aotou do JOM miembroH dej Ja junta
jtrectiva, doi Roronte y du Inn n;ls all.os Cunolonariou do la
?oledud aft ciEiorun n ILUI oaLalutcm y u laa docioiotioc o
tnatfuoclonon dc La aiuimblon (.{tsruji-uJ y du Lu .lunta direc1.lv«
jBpocttvamen b«. )J) Si na coniiiirvan diiRcuudatnenta los iJbron,
(jonprobantoa, mAquinaQ v d«mat3 oiumunUui du ounbabilidad, nai coino
), loa 1 ibroo do aciLar! y roninti'O dti noulonioLajj. o) HI lu
Borreopondenola ao doupaclui y aonnerva fidcfUKidamenlio. d) Hi exiaten
* jdldan do f.ontral int.urno, do firmnorvaaldn y do cuutodJa de Joci
ilenea Booialetj y do JOH a.ionon qn« utifcon en pndur de l a umprc^sa
i\ i"
hen caao n£Lrmabivo, t»i lalau oiodtdaii aon udeuuadnei. u) lift foi
AH redactions made pursuant to exemptions (b)(6),
(b)(7)(C), (b)(7)(F)
3 *[''*
CA-504583
VIENE DE LA HOJA # C.A.# 50
IJpncapl.u do dt* pruts tac inn do activois / i.ion y de ainorlif.ncion
fitanaiblus. /.) On proyooUi do dluLvi'tnic.MwS^do, uttlidadcs
ppartibloa, provia deduce: i An do Lei sama cu looJmia pttm el pa«o clu
?ueetoB aubra la rent a y campJ.Qiaant.iirj.otj para cJ. corrospundumU]
$}ercioio. 3 ; El inilorme qua dabo prunenfcar la j u n t a diraratjva y
L, Barents a ia noamblea general da aocloniBfcaa sabre Id nif.uaulou
•mica y firmricJura do La nociedad conLcndra adiamê: a) K(
stalls de Ios egreaoH por acinoeipfco (Jo aaLarioti, hnnurarian,
l
t4tioQB, gaaLoH do reprenonhnctdn. oi ogaoi.oun» par tranaportn y
âlguiep o t r a ulaae do fcmunei-acionea quo hubdora percibido crtdn
d!o Laa £unc Lonarlou diroctivoEi <J« la uuaiedad. h) La t-eIcic I6x\
GroHacioyioa iôr loa niismon oonoopton jridicadai-t on ia claunuJa
aiseriar, hechtt a favor do aseaorojs o gestoreH, nonceralonfcoft a
rdojltoa peatizadoo fuern dts la norciudad. c) Hi dci.aJ lo <le Jao
jnaferoncifiu da blenea «i t.itulo iiral,uit>o o auimj.labloa a 6atcs.
|5> 1il dotal Le ciu Kiiatoa d« propfiaunda, de rolacionjia pufaltcnn,
ijoa y otroa diacritnxnadoa- o) 3-n rolaeion do hlonea do Ja sooiedad
e l e x t e r i o r y aua obllgaclonon on moriecia tixbranjera. f) Jil de
He do Laa irivornlonoH do Ja couipafiifl tin oU-ara aociedrideu, uiwi
acificaeion de law nnojonaioh y lna oxtzûnjeran y do nuri
gapeofcivofl damtcl2i«a.AKTlCUl,0 OUIKiiUAUrJPJMO CUARTO: ErffaUi. di'
r*3
Adidas y gananoias. Al final Laur cad(v o,1erololo &e ciaborora
eorrnnpondiont.o nsi.ado do porditirau y Kamme Lao - 1'n.ivj
latarminat Ion ri$BuI tddos do Jan oporaotoneo, aera nccouarJo
>piar previamon1;a, dcs aouordu u la lay y laa prdcfciima
SpntabJes, l a a perdidan neooa.-jraatt pnra atrandcif l a dRproaiacifin,
da dOHVa lori/snci i 6u y LA iJuriinLia dttl i>at,r>lniotit(J UOUIQJ O loo
sjipercMj donLjnaclos a rfmorvua Lupin L<ta, uHLntul.arlas o voluntor-laii.
Ofl InveritarioH u« va Lorlzaran do acunrdo con m61/odo«
56rmitJdoa por ' lati normeia
WJ.butArj a « . - - - - - — - •- --•
&PITULO V I I . RKGKRVAS. ARTK'ULt) Wt/lWCUAGhSfMO QU1NT0; Ruaervat.
1
r '
l. Sociednd CXIUBI-J Luj.rci una rRi3orv«» lo.jrfal ijtics aootindora por lo

jtonoa at umouunfca por
ihOX) dal oiunlu
oapil.al nu&cvibo,
(10%) de law ufcilidadou
bnatituida turn pcjr* e l diew. por ex on ho
liûtdaa do radii e d a r c i o l o Riompro ciun f;«1,n reraorva oe dinminuyn
nt
Ml limito Jogfil, voivora. a iapi"opi«rfie un dinz pop aienio (10%)
1
B& 'las r e t o r i d n s ubilidudan hanin IJotfru;* du nuevo a caLe liiulto.
B5. 001W
4^ Is de leU3 r«HarvaEi ordenadaa por la Joy, la fiaambioa pudrd
(b)(6), (b)(7)(C), (b)(7)(F)
--M\.O
CA-50458"
VIENE DELA HOJA « C . A . 4 5 0 4 ^ ^ , , ; , ^
>M gpevtonecer a un n o l o anoiuninLa. u) Por Ino deuiaw QUUSUIOIFI

irevlotus en l a I c y . - ••",-•
'RTICULO SEXAGSSIMO: Liyu.1iifiP.L6n s o c i a l . - Dimio I tot La oooiedad,
i n i c t a r a de i n m e d t a t o HU l i q u l d a o ion - Ma poiir&n cmprandm*ae
-met! uovem o p e r a n i o n e n qua impLiquon u] «,1ero.5ojo da cm otojoto y BU
[<japacldad j u r i d i o a stern roHtri.ng.ida a loei a o t o o n e o o a a f l o a para
>$
n c l u i r e l eafcndo da l i q u L d a c i o n . SHIVO «xcei?ct6n l e g a l «xprann
laai
p(uaJquier a c t o adorio a ORfces f!iu q>je so e £ e o t u a r 6 harri
io,
î,Ji»
aaponaable, on forma il.imit.ada y aolidar-in a I O B flooion3E3taa.
at CICULO SEXAGESIMO PH1MER0: /U'bUmnenCo.- Gl con ooaaion da l a
oc iledad, soa d u r a n t o - o t i u x i a t e n o l a , ana a l tiornpo do llquideioioti
$ p o s t e r i o r a 6 s h a , a o u r r o nlgunn dtferonoi.n o n t r e IQH tiooiou o
J»'•' | n t r e eafcon y l a »ooledad o el. l l q u i d n d o r , <;iu« no pmoda arrofilaruo
irectamanbe p o r l o o Jnluiranadnn, ne fiomettu'ii l a d i f o r o n o i a n la.
ibt eoiai^n de un t r i b u n a l do arbll;ramont;o que renoLvoxsi an
IOC
flerecho. Laa arbi1;roa aorAn deaigfiadoa p o r l a Odmara de, Camat'oLo
inc
rfiel d o m i a i l i o a o c l a l , a pot,Joi6n oncsrifca de c u n l ^ i u i c r a do lu«
pa.rteu inUcrctTJuiau, en 1 a eual dflbet-fi i n d i c a r u e o'L asutiiô o
1 3unfco« quo hon do war objafco de dwciuloja. El Lfibuita.1. iiu
i< fjfpptalara, funcitonara y ducidtra oonform« n las Jayon
.nc
IRTICULO SRXAGECIMO SJ5GUND0: P r o h i b i c t m i u a . - Sin perviuieio do U u
i»i DnaiiCnadno wfi IAH .loy«n o on citron Jutfrifftu dfj LOB prenonfcos
setatubuo, 3aa p r o h i h J c l o n e s ouran de rton gunc-iroa n euvber: 1) Parn
aooiedod: Qu« no (i<dburci: a) Gontif, 1 l . u l r a e an fjai'anto do
SbltgacLonaH tics t e r c o r a t t p a r a o n a s n.lii Ja aut;nr.j.aaoJ.on do .In JuntM
Wrectivfi. b) Nuâron a i n s c r i b i r1 B«I <J I l i b r a do rogiaCPo do
j'aoclaniHl-.a« 3 n« an(sion«a nsi«oo1«das con ni.T«gla u ] a a
formal idftdef i poT-iAncjutoo. f!) Papa nl r n v i n o r f i u c a l : Quo no
iodra: a) Kor a o c i o r i l c t a do l a oompaHia. b) K«r a s o c i a d o do
|vjalqul.er f i l i a l , o aubordinad.i de a q u o l l a . r-) Us t a r Lifjado por j
81 atrimojilo o p/irfjntouco, dontro d«l <su.nrbo grado do
ie Ipnoanfftiinidad o p r i m o r o c i v i l o noffimdo do a f i n i d a d , - con
it smbroB do l a J u n t a Diraufcivn a can uJ K o r c n t o , o l t t o c r e t a r i o ,
3C »1 t o n o r o r o , u I cjont.ador y (JimLqulor ot.ro i'uuulonurio do l.i
Ipropuflia. rt) To nor o o o l u b r a r c o n t r a t o n do t;oc.l«dad con lot'
frincionar Loa nriumaffidoa an ol iitoral lrunedtaLttHiorite
[jteriof. a) Kor comutioro d« o'lfjunn da dinhns "nnn
piplonariOH. - / - •-"

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exemptions (b)(6), (b)(7)(C), (b)(7)(F)

Official Translation of LETTER

Waiting for your response,

TRAIUOTOKA OFICfAt. INQUS

Asunto: SOLICITUDDE EXCLUSION DE[

La sociec5ad ALERO S.A. realiz6 su constitucidn y Iiquidaci6n de conformidad con la

Pare todos los efectos de la investigacidn les informo que me

Quedo a la espcra de sus noticias.

(Seal) REPUBLIC OF COLOMBIA / ASSOCIATION OF PUBLIC NOTARIES OF

Translated by Official Translator, Registered with the Amert

Translated by I iOfflcial Translator, Registered with1 in and Canadian Embassies

Translated by H H H H H OHIo'al Translator, Registered with the Ai

Translation No. AleroConstSocAno94.2918 January 28, 2005 page 4

Translated b y H H H M O f f l c i a ! Translator, Registered with the American and Canadian Embassies

Translation No. AleroConstSocAno94.2918 January 28, 2005 page 5

Translated b y f l H H H I O f f i c t a ' Translator, Registered wilh the Amert

Cali, NOVEMBER 24, 2004

REPUBLIC OF COLOMBIA/MINISTRY OF FOREIGN AFFAIRS

(Convetion de la Haye du 5 octobre 1961)

No. OF PAGES: 3 CP 456757

Translator's notes: 1. See bar code on the original document

Translated b y H H i O f f l d a l Translator, Registered with the American and Canadian Embassies

Translation No. A[eroConstSocAno94,2918 January 28, 2005 Page 7

529641 / DATE: MONDAY, NOVEMBER 22, 2004 TIME: 10:24:12 Page 1 of 1

Translated by H H H H H Official Translator, Registered with ihe American and Canad

GOVERNMENT CHANNELS WITHIN SAID PERIOD OF TIME.

OHiciat Tnnn-.M ApfjfOvou

Translated b y H H H H O f f i c i a t Translator, Registered with the American and Ianadlan Embassies

(Convetion de la Hays du 5 octobre 1961)

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 10

(Seal) / (Seal) MINERVA / (Logo) / DOCUMENT STATIONERY CA-5045828

Translated by H M H o f T I c i a l Translator, Registered with the Arm

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 12

Translated b y ^ H H H H o t f c i a l Translator, Registered with the American and Canadian Embassies

the society is FIFTY MILLION PESOS ($50,000,000,00) LEGAL COLOMBIAN TENDER,

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 14

ARTICLE TWELVE: Effects of the ownership of shares. Ownership of any amount of

Translated by • • • H O f f l c i a l Translator, Registered with the American and Canadian ssle

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 15

(Logo) / MINERVA / DOCUMENT STATIONERY 3

Translated I I Official Translator, Registered with the Amer

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 16

ARTICLE SEVENTEEN: General Assembly of Shareholders - Composition and

Translated by • • • • Official Translator, Registered with the Amarlcan and Canadian E

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 17

by the tax auditor. 9) To approve the appraisal of goods to be received as payment to

Translation No, AleroConstSocAno94-En,2918 January 28, 2005 page 18

ARTICLE NINETEEN: Special Meetings.-

Translated by • • • • • O f f i c i a l Translator, Registered with (he American and Canadian Embassies

Translated b y ^ H H H I O f f i c i a l Translator. Registered with the Amerlc

Translation No. AlQroConstSocAno94-En.2918 January 28,2005 page 20

Minerva form 55-00 0 (illegible) Photocopying this document is prohibited

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 21

Translated b y H H H H ^ T I c l a l Translator, Registered with the American and Canadian Embassies

Translated by H H H H f l b f f i c i a l Translator, Registered with the Ameri

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 23

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 24

Translated b v B B B H B Official Translator, Registered with the American and

Translation No. A!eroConstSocAno94-En.2918 January 28, 2005 page 26

Translated b y f l H H M V ^ ' c ' a ' Translator, Registered with the Americaimi^anadlar^jmbassies^^^^^^^

Translated b y ^ H M H O f f l c i a ! Translator, Registered with the American and I

Translation No. AleroConstSocAno94-En.2918 January 28, 2005 page 28