Operating Activities:

Majority Net Profit for the Year

Charges (Credits) to Income not Requiring the Use of Funds:

Depreciation, Amortization and Depletion

Write-Down of Assets

Deferred Credits

Minority Interest

Equity in Associated Companies

Premium on Suscription of Shares

Translation Gain (Loss)

Other Items

Increase (Decrease) in Operating Funds:

Accounts Receivable

Inventories

Prepaid Expenses

Notes, Accounts Payable and Accrued Expenses

Income Tax

Employee Profit Sharing

Deferred Charges and Other Items

Other liabilities

Funds Provided by Operating Activities

Financing Activities:

Bank Loans

Amortization of Bank Loans in Real Terms

Dividends Paid to Majority Shareholders

Minority Shareholders

Dividends Received from Associated Companies

Reimbursement of Minority Stockholders

Minority Dividends

Funds Provided by (Used in) Financing Activities

Investing Activities:

Acquisition of Property, Plant and Equipment

Sale of Assets

Loans granted to third parties

Purchase of Shares:

- Of Associated Companies

- Own

Restricted Investments

Other

Funds Used in Investing Activities

Increase (Decrease) in Cash and Temporary Investments