ALFARO FERRER & RAMIREZ

Director

Subscriber

Agent

• REGIONAL INTERNACIONAL FUND INC.
• OAKFALLS CORP.
• MADURO IMPOR,S.A.
• NORVANDA LOGISTICS INC.
• CORPORACION MICONOS, S.A.
• EPEL CORP.
• PLAZAFIN INC.
• CONTROLSURVEY S.A.
• BLUEWAGON INVESTMENT, INC
• UNION FOUNTAIN CORP.
• PERSONAL CORP.
• GLF INBOND INC.
• SANTA CLEOTILDE CAPITAL INC.
• INVERSIONES TRANSIERRA S.A.
• ROSELLO DEVELOPMENT CORP.
• MANUFACTURAS TABERNER S.A.
• BORDERLINE INTERTRADE CORP.
• NEW GENERATION DEVELOPMENT CORP.
• COURTESY LIMITED CORP.
• TOTAL STANDARD INC.
• REFLECTIONS INTERTRADE CORP.
• NEW GENERATION GROUP CORP.
• LATINMETRO CORP.
• NEW AMERICAN LIMITED CORP.
• NUCLEUS DEVELOPMENT HOLDINGS S.A.
• SPARTANS CAPITAL S.A.
• BONDED INC.
• CORPORACION UL INTERNACIONAL, S.A.
• COLABORACION VIRTUAL 2207 INC.
• BIOSAFE INC.
• AVOCAT INTERNATIONAL CORP.
• PRIMETEL CORP.
• TRINITY LIMITED INC.
• PC CONCRETO S.A.
• PIJAO 17 A, S.A.
• PIJAO 17 B S.A.
• REPRESENTACIONES INFI 22B S.A.
• ORINOCO INTERNATIONAL HOLDINGS INC.
• PSAUTO PANAMA S.A.
• STRENGTH INTERNATIONAL INVESTMENTS INC.
• IG REMESAS,S.A.
• ECO GROUP HOLDINGS INC.
• ACCEL INTERNATIONAL INC.
• PROTRADE OVERSEAS INC.
• ACCEL INVESTMENT CORP.
• FIRST ALLIANCE GROUP INC.
• HIGHCORP LIMITED INC.
• SKY PROPERTIES INTERNATIONAL INC.
• PRIMESEA CORP
• LANDPRIME REAL ESTATE CORP.
• NAPLES REAL ESTATE INC.
• PROYCCA PANAMA,S.A.
• AC INVESTMENT HOLDINGS CORP.
• CBC HOLDINGS INC.
• C5 INVERSIONES FINANCIERAS S.A.
• PLACE ONE INC.
• WHITESTAR HOLDINGS CORP.
• VIGIER CORPORATION
• NORTHWEST ALLIANCE INC.
• GREENCORP OVERSEAS INC.
• INVERSIONES SANTA ELENA HOLDINGS INC.
• FINANOMICS CORPORATION
• JADCV INC.
• NEWCOSTA LIMITED INC.
• PRIMECORP LIMITED INC.
• PRIMESOL LIMITED INC.
• MAXVEST INC.
• CONNOLY CAPITAL INC.
• ROSECAP CORP.
• ACTIVE CAPITAL INTERNATIONAL INC.
• GRANDVEST INC.
• PARKCORP INC.
• MIKONOS HOLDINGS CORP.
• DOWELL SERVICES S.A
• INMOBILIARIA CAPITAL PLAZA 1102, S.A.
• INMOBILIARIA CAPITAL PLAZA 1103, S.A.
• SPORT BOATS LIMTED INC.
• TERRAZAS DE SAN ISIDRO,S.A.
• ACCURA SYSTEMS INTERNATIONAL PANAMA S.A.
• PFA CAPITAL INC.
• AV WORLDWIDE INC.
• LATIN YACHT INC.
• BORDER CAPITAL CORP.
• CCJ GLOBAL BUSINESS S.A.
• CORAL KEY CORP.
• NATCORP LIMITED INC.
• ALLCOSTA INC.
• NATION STAR CORP
• 4MPH REAL ESTATE INC.
• TENSOUTH INTERTRADE CORP.
• OCEANCORP LIMITED INC.
• LUNACORP INVESTMENTS INC.
• HEWITT ASSOCIATES PANAMA, INC.
• SOUTH ALLURE COMPANY S.A.
• 20B ALLURE AT THE PARK S.A.
• PRIME PROPERTY ADVISORS INC.
• PRIME PROPERTY TOWER FINANCIAL INC.
• HIGH Q INTERNATIONAL S.A.
• AGRIFRESCO S.A.
• ACCOR GROUP S.A.
• EXPORTADORA FUTURA - EXPOFUT S.A.
• ECOPRODUCE INC.
• GV 2813 INVESTMENT INC.
• SHOOTING STAR MARINE INC.
• GLENCORP INC.
• ECOLOGIA VERDE CORP.
• MANN STREET CORP.
• WALCORP INC.
• GILLCORP INC.
• ASTROCORP INC.
• STRIKA ENTERTAINMENT PANAMA S.A.
• PLANGO INVESTMENT S.A.
• XIMENA WORLWIDE INC.
• PLANESCORP ADVISORS CORP.
• PP C-11 INVESTMENT INC.
• JC&F;S BUSINESS BROKERS INC.
• MANX TRADING INC.
• MOISELLE CORP.
• INTEGRASCREEN (PANAMA) INC.
• CHINAVEN TRADING INVESTMENT GROUP INC.
• WESTCORP CAPITAL INC.
• NORTH FUTURE INC.
• EUROFUTURE CORP.
• PRIMLEND HOLDINGS CORP.
• BIMBO DE PANAMA S.A.
• DEMLAND LIMITED CORP.
• GRUPO DOS MARES, S.A.
• BESTCORP FINANCE INC.
• STREETCORP INC.
• SEELAT INTERNATIONAL INC.
• BALEARES COMMERCIAL INC.
• BRITISH AMERICAN TOBACCO PANAMA, S.A.
• SABATEX AMERICA S.A.
• ZACCARO VENTURES LIMITED CORP.
• MILA HOLDINGS INC.
• FAST INTERNATIONAL HOLDINGS CORP.
• FINANCIAL RED INC.
• FINANCIAL STAR INTERNATIONAL INC.
• EVENWEST HOLDINGS CORP.
• UNITED INTERTRADE HOLDINGS INC.
• STAR ALLIANCE HOLDINGS A.V.V.
• THE AGENCY INTERNATIONAL CORP.
• INTERACCIONES VENEZUELA FINANCIAL GROUP CORP.
• INTERACCIONES CORP.
• LATIN AMERICAN RACING CHANNEL INC.
• SIGMA ALIMENTOS PANAMA S.A.
• JAMCARIBE S.A.
• GRUPO MERLET CORP.
• MONMAKA UNO S.A.
• HILTI LCP S.A.
• ATHENA REAL ESTATE, INC.
• KINGSMEADOW INVESTMENT INC.
• GRUPO ESTELAR,S.A.
• AUSTRALIA GLOBAL INVESTMENTS INC.
• EMPRENDEDORES VERITAS S.A.
• QUISQUEYANA TRADING CORP.
• TD FIRST OVERSEAS INC.
• ULTRABEST CORP.
• RDVD OVERSEAS INC.
• BDP OVERSEAS INC.
• CORPORACION S.I. GLOBAL PANAMA S.A.
• INVERSIONES CODEPA S.A.
• REVAR CORPORATION.
• DELRIO PANAMA INTERNACIONAL S.A.
• BIODIESEL ENERGY SYSTEMS INC.
• EMERGING FX CORP.
• SERVICIOS INMOBILIARIOS Y FINACIEROS SIF S.A.
• INVERSIONES PITAL INTERNACIONAL S.A.
• TRIGO GROUP CORP.
• COLBAZ GROUP CORP.
• RIO CARIBE TRADING S.A.
• 711 MADRE PATRIA CORP.
• BLUETEN CORP.
• HALWATER CORP.
• GRAND CANAL OVERSEAS INC.
• NEWATER CORP.
• NORTH CANAL LIMITED CORP.
• PRENTINE INTERNATIONAL INC.
• MELNIK INTERNATIONAL CORP.
• NORSKER LIMITED CORP.
• STASON LIMITED CORP.
• OSMOTICA HOLDINGS CORP.
• PALMEVER CORP.
• GLOBAL RECOVERY HOLDING INC.
• LAKENET CORP.
• COUDERT LIMITED CORP.
• NORTHMAN CORP.
• BUSINESS INTELLIGENCE FINANCE INC.
• INTERPINE CORP.
• MAYPINE CORP.
• MARLIN REAL ESTATE INC.
• ESMERALPE S.A.
• WEST ONE REAL ESTATE INC.
• INMOBILIARIA MARBELO S.A.
• BRADFORD REAL ESTATE CORP.
• CARIBBEAN WEST HOLDINGS INC.
• INMOBILIARIA WEST GARDEN S.A.
• INMOBILIRIA ISTMEöA ,S.A.
• BIENES RAICES MARACAY S.A.
• BIENES RAICES ATTWOOD S.A.
• INMOBILIARIA LAS MAGNOLIAS S.A.
• INTERMAX REAL ESTATE CORP.
• IMPEROS REAL ESTATE INC.
• INVERTIA REAL ESTATE CORP.
• DIDOS REAL ESTATE INC.
• ALLIED ONE HOLDINGS S.A.
• JOKO INVESTMENTS INC.
• COVENTRY COMMERCIAL INC.
• EASTRIDGE FINANCE INC.
• RESTAR CAPITAL INC.
• LINTAL FINANCIAL CORP.
• AROSEMENA & SOUNDY ARQUITECTOS (ASARQ) S.A.
• LATINO AMERICAN FOOD INVESTMENTS, S.A.
• MABURO CORP.
• SYSTEM & TELECOM, INC.
• AGS INTERNATIONAL OIL CONSULTANT INC.
• CORPSTATE FINANCIAL INC
• TAWARI ENTERPRISES INC.
• DOBLEN TRADING INC.
• SORBELLO INTERTRADE INC.
• SPARKEL HOLDINGS INC.
• STOTLER INTERTRADE INC.
• WORRELL LIMITED CORP.
• ROWLAND LIMITED CORP.
• TAWARI HOLDINGS INC.
• DUPESA S.A.
• SURGICAL EYE TECH INC.
• ADVANTICA CORP.
• ALLERICA INTERNATIONAL INC.
• GENERAL STAR ALLIANCE INC.
• FORTUNE ONE ALLIED INC.
• SUN CAPITAL LIMITED, INC.
• ACADIA OUTDOORS LOGISTICS PANAMA INC.
• MID-AMERICA ALLIED INC.
• REALFIN INTERTRADE INC.
• HAILEY HOLDINGS INC.
• TRIOS HOLDINGS INC.
• PACIFIC SALE & PURCHASE INC.
• DIAMANTINA CHRISTENSEN TRADING INC.
• NEURO SOLUTIONS INC.
• INVERCREDI FINANCIAL SERVICES CORP.
• ROYALE UNIVERSAL INC.
• SUPERIOR PARK CORP.
• BLUETRADE CAPITAL CORP.
• LUNA IMPERIAL, S.A.
• ICENA INC.
• AGNES DEVELOPMENT CORP.
• ALDRIN ENTERPRISES INC.
• EASTWIND INTERTRADE INC.
• VION INTERTRADE CORP.
• GRUPO PANAUTO S.A.
• ORELEY HOLDINGS INC.
• PALEFIELD TRADING INC.
• FANWAY INTERNATIONAL CORP.
• ZELTRA INVESTMENT INC.
• HILL VALLEY HOLDINGS INC.
• MANAGEMENT CONSULTING SERVICES, INC.
• CONQUISTAR OVERSEAS INC.
• LONG BRIDGE TRADING INC.
• LORESTAD INTERTRADE INC.
• IT SERVICES PANAMA INC.
• PROMOCIONES DEPORTIVAS AAA C.A.
• INTERSERVE OVERSEAS INC.
• POTENTIAL FINANCE GROUP CORP.
• LAND SECURITIES GROUP CORP.
• INTERVEST CAPITAL INC.
• CENTRAL INVESTRADE INC.
• ROYALWEST CORP.
• NEW ZEALAND INVESTMENTS INC.
• TOTAL GLOBAL GROUP INC.
• MAINDATA CORP.
• INVESTMEDIA INC.
• MILESTONE GROUP CORP.
• INTERVEST BUSINESS GROUP INC.
• INTERWEST GROUP INC.
• PRINCIPLE CAPITAL CORP.
• LINTON PARK HOLDINGS INC.
• KEWILL HOLDINGS CORP.
• LANDATA CORP.
• LONDON CAPITAL GROUP INC.
• CREATIONS INC.
• CORODESERT, C.A.
• SERVICIOS NAVIERAMAR GROUP INC.
• ORANGE PARK INC.
• CENTAURI HOLDING,S.A.
• LIONS GATE MANAGEMENT, INC.
• MESOAMERICA ACRE FARMS, INC.
• EFREET INVESTMENTS INC.
• INTERTRADE COMMERCIAL SERVICE, INC.
• SOLUCIONES MEDICAS TX INC.
• ORION PARTNERS,S.A.
• BANDERLING ENTERPRISE INC.
• VALMORE ENTERPRISES INC
• EDENVILLE TRADING INC
• NINO FRUIT AMERICAS INC.
• AMBER ONE LIMITED INC.
• UNIVISION COMPANY INC.
• BRISTAR INTERTRADE INC.
• BRITAN HOLDINGS INC.
• BLUESTORM CORPORATION
• GRETIA CORP
• GFU INSTITUTIONAL INVESTORS INC.
• MV INSTITUTIONAL INVESTORS INC.
• POLAXA HOLDINGS INC.
• BONVIEW INC.
• CARTOPACK CORP.
• MARKEL DEALERS INC.
• INMOBILIARIA HOUSTON, S.A.
• WAAG HOLDINGS INC.
• ROBEA CORPORATION
• GEDS FINANCE INC.
• ALOMAR INVESTMENTS CORP.
• DINVEST INTERNATIONAL INC.
• WENCO INVESTORS INC.
• EQUUS WORLDWIDE,INC.
• MYRISTICA CAPITAL INVESTMENT INC.
• LINERIA COMMERCIAL INC.
• A PLUS INTERTRADE S.A.
• C & C DISTRIBUIDORES INTERNACIONALES, S.A.
• LEVIX INTERTRADE S.A.
• RYDER INTERTRADE S.A.
• ANIPAL CORP.
• LATINAMERICAN BUSINESS DEVELOPING CORP. S.A.
• SHIFTCOM ENTERPRISES, S.A.
• PROMEN HOLDINGS INC
• PRISC MANAGEMENT, S.A.
• SEAGUL ENTERPRISES CORP.
• SICOM HOLDINGS CORP.
• LOCALES COMUNES S.A.
• GLOBAL SATELLITE LINK INC.
• BESTAMERICA CORP.
• LADE FINANCIAL CORP
• VERDAE HOLDINGS CORP.
• HARBOR BEACH CORP.
• HYDE PARK MANAGEMENT, S.A.
• IMAGEN VIRTUAL S.A.
• TIERRA DE ILUSIONES, S.A.
• TELEFONICA MOVILES PANAMA, S.A. -.-
• INVERSIONES PETROLERAS, S.A. (INVERPETROL)
• RAYPAR INVESTMENTS CORP.
• COSTA P61 CORP.
• SHIRE INTERNATIONAL INC.
• SURYA INTERNATIONAL HOLDING LTD INC.
• HOUSTON SOLUTIONS CORP.
• PINETRADE CORP.
• CARLINER FINANCE CORP.
• PINE AVENUE CORP.
• SPECTOR OVERSEAS CORP.
• MADDEN ENTERPRISES FUND,INC.
• PHONIC INTERTRADE CORP.
• PORTCORP INC.
• GARRITAN BAY S.A.
• PERFECT SPACE DEVELOPERS CORP.
• AVISA INTERNATIONAL INC.
• BOD CAPITAL HOLDINGS INC.
• MERIAT INTERTRADE INC.
• PRIMLEND ASSET MANAGEMENT INC.
• KATZ SOLUTIONS S.A.
• ESTELAR FINANCE INC.
• GLOBALCORP INVESTMENTS INC.
• CALLWOOD GLOBAL CORP.
• CAJITA CORP.
• DEAGAN BAY S.A.
• WESBAR FUND INC.
• RITTER FUND INC.
• ITACA CONSULTORES INTEGRALES S.A.
• PANAMA HYDROELECTRIC VENTURES, INC..
• GLOBAL MACHINE INTERNATIONAL CORP.
• INVERSIONES EL LAGAR S.A.
• MORETRADE OVERSEAS INC.
• NORTH & SOUTH CAPITAL INC.
• AMARAL FINANCE CORP.
• BRAY CAPITAL CORP.
• MULHALL CORP.
• DALEY CAPITAL,CORP.
• STRUTTER S.A.
• MODENA AUTOS IMPORTS, S.A.
• ALMYDEPO S.A.
• GREENVILLE GROUP INC.
• SURETRADE CORP.
• BR REAL ESTATE INC.
• LATAM FINANCIAL GROUP,INC.
• TENWAY HOLDING, INC.
• RESTONE CORP.
• SCADEN INC.
• BLUESHORE INC.
• HIGHROAD OVERSEAS INC.
• REALCREST CORP.
• STAYWELL CORP.
• GREYLIGHT CORP.
• HELVETIA GLOBAL CORP.
• STARSEA INC.
• LONDON PLACE CORP.
• AMERIBAY CORP.
• TRADEFX INTERNATIONAL INC.
• PINELAKE CORP.
• MONSEN INTERTRADE INC.
• MONJACK CORP.
• SNOOKER INTERTRADE INC.
• SURI FINANCE INC.
• ENAMEL DEVELOPMENT S.A.
• RTS INTERNACIONAL, S.A.
• RIGHTGOLD INC.
• SIRET CAPITAL CORP.
• RIVERPARK CORP.
• FELLOWCORP INC.
• AREATRADE CORP.
• MITALORD HOLDINGS INC.
• HALLTOWER HOLDINGS INC.
• MIRADOR PUNTA BARCO, S.A.
• HARDING FINANCIAL CORP.
• KARUPANO HOLDINGS INC.
• GOLDEAST TRADING CORP.
• METAGOLD TRADING CORP.
• COSTAMERICA HOLDINGS INC.
• ADIDAS MARKET LAM, S.A.
• SUNBEST DEVELOPMENT INC.
• SMARTMATIC PANAMA S.A.
• WINDPLUS INC.
• LAFAVE HOLDINGS INC.
• VIENTOS SUR, S.A.
• DELEGA CORPORATION
• DANY INVESTMENTS INC.
• INVERSORA ALCATRAZ 21C,S.A.
• INVERSORA LA GAVIOTA 21A,S.A.
• KMV GROUP CORP.
• STARTREE CORP.
• ALTA VISTA INVESTMENT INC.
• INVERSIONES ALTERNATIVAS PARA REAL ESTATE,S.A.
• ACO STEEL INC.
• DENWOOD FINANCE CORP.
• UPTEN CORP.
• OURMER INVESTMENTS INC.
• OURCORP INC.
• HOWREY HOLDINGS INC.
• INTEGRAL SOLUTIONS MANAGEMENT INC.
• DISTELVENCA PANAMA C.A.
• INFINITY HOLDING MANAGEMENT CORPORATION
• VELERO INTERTRADE INC.
• PROPIEDADES DHARMA, S.A.
• AMSCO TIME FINANCIAL INC.
• MEDITERRANEO GLOBAL INVESTMENTS INC.
• PLUS CAPITAL MARKET INC.
• PANAPTO, S.A.
• PANAMA BUSINESS & TOURISM TRANSPORTATION,S.A.
• SOLUCIONES EN TECNOLOGIA AVANZADA (STA), S.A.
• EASTSIDE FINANCIAL INC.
• FASER INTERNATIONAL S.A.
• DENTER INC.
• FAMOL CORP.
• SOLEIL SANTE HOLDINGS INC.
• AIRCORP INC.
• CCB FINANCIAL INC.
• REALIST INVESTMENTS S.A.
• BRYOMED INTERNATIONAL CORP.
• FMSC GROUP INC.
• TRANE SYSTEMS SOLUTIONS OF PANAMA INC.
• PIDELA HOLDINGS INC.
• RADELA HOLDINGS INC.
• ROWTON HOLDINGS INC.
• AERIAL HOLDINGS INC.
• ROWEN FINANCIAL INC.
• PROMOTRON GLOBAL HOLDING CORP.
• MESCALA INTERNATIONAL CORP.
• INGENIERIA APLICADA INTERNACIONAL S.A.
• VALLEYCREST PANAMA,INC.
• TRACTOPANAMA,S.A.
• BEST INTERNATIONAL EXPORT INC.
• HAXBY
• LIDIJO GLOBAL INVESTMENTS S.A.
• JFD FORESTRY INVESTMENTS S.A.
• JFD GLOBAL INVESTMENTS S.A.
• BESTSIGHT CORP.
• STATESTAR CORP.
• JONES FOREST & DEVELOPMENT CORP HOLDINGS, S.A.
• INVERSIONES ATENEO, S.A.
• MAKILA INVESTMENT, S.A.
• GETECSA PANAMA S.A.
• ASTROFIN CORP.
• LIMITED TRANS AMERICA MARKETING INC.
• SOLARSTAR INC.
• INVERNIX S.A.
• AMERICAN CLOUD INC.
• WESTYORK GROUP INC.
• EVERWHITE INC.
• SALTO CUANTICO EXPORT-IMPORT, S.A.
• ALLBANK CORP.
• CLARKLINE CORPORATION
• VOPAK PANAMA ATLANTIC HOLDING INC.
• EL PATIO ARQUITECTOS,S.A.
• PACIFIC PARTS COMPANY S.A.
• AMACORP FINANCE INC.
• GOLDCORP HOLDINGS INC.
• ALSEK HOLDINGS CORP.
• SUNOVO MANAGEMENT INC.
• MAYORCORP INC.
• NOVO PRIME CORP.
• PAN-AMERICAN MEDICAL RESEARCH INSTITUTE (PAMRI), S.A.
• RITECORP INC.
• COMPONENTS SUPPLIERS INTERNATIONAL INC. (CSI)
• AVA STUDIO INC.
• SPACATO NO. 48, S.A.
• POCAS & BROS, S.A.
• AFRA TRUST CORPORATION
• BLUE SOUTH HOLDINGS INC.
• LIMA GROUP INC.
• LA ESTACION PROPERTIES INC.
• PURE TECHNOLOGIES HOLDINGS INC.
• GRUPO BAMACA INC.
• THREE LAKES GROUP INC.
• ROBERT BOSCH PANAMA, S.A.
• AV FIXED INCOME OPPORTUNITY FUND INC.
• CORPORATION 56 S.A.
• WORLD HOME MEGACENTER S.A.
• LATINAMERICAN HOSPITALITY MANAGEMENT OF PANAMA, S.A.
• HILLTOPPER HOLDINGS CORP.
• MJE HOLDINGS CORP.
• SERVICIOS TAD, S.A.
• MOBILE MEDIA NETWORKS INC.
• LEAD DOG ADMINISTRATIVE SERVICES CORP.
• FONDO DE INVERSION EN ARRENDAMIENTOS HOTELEROS, S.A.
• SMARTCOM COMUNICACION INTEGRAL S.A.
• LOGISTICS CONSULTING GROUP S.A.
• GRUPO SAMP CA S.A.
• MOORADIAN CORP.
• ARCOLLA GLOBAL INC.
• MUSSER NORTH S.A.
• DOWNEY CAPITAL INC.
• LIVID INVESTMENTS S.A.
• WIDOW INTERTRADE INC.
• VITACORP INC.
• GOTRADE INC.
• CORPLIFE INC.
• GOCORP HOLDINGS INC.
• GREENTRADE HOLDINGS INC.
• NATURAL SPA CORPORATION
• AQUACORP HOLDINGS CORP.
• AIRSTAR INC.
• SOLGROUP LIMITED CORP.
• INTERSTAR HOLDINGS CORP.
• HVS TRAFFIC SOLUTIONS, S.A.
• CRESOLE MANAGEMENT INC.
• CANAIMA SEAFRONT INVESTMENT S.A.
• ELEANOR INVESTMENTS S.A.
• PACIFIC FRESH COMPANY INC.
• ARCE HOLDINGS CORP.
• GRUPO DHYZAN INTERNATIONAL S.A.