CARLOS ALBERTO DE OBALDIA

Director

• MARINE METAL COATINGS,INC.
• VALRIV INC. ESTA SOCIEDAD PASA A SER SOCIEDAD COMANDITA
• BELLEVAIL, INC.
• ADMIRAL COATINGS COMPANY, INC.
• MIDWAY MARINE INVESTORS, S.A.
• MATERIA GRIS, S.A.
• INVERSIONES MIRASOL, S.A.
• NOSA HOLDING, S.A.
• REPRESENTACIONES DE EQUIPOS Y REPUESTOS, S.A.
• CONCRETE CUTTING & CONSTRUCTION, INC.
• VEY HOLDING, INC.
• INMOBILIARIA ALHEALY S.A.
• NOVEY MARINE INC.
• BRUNILDA INVESTMENTS, INC.
• AROSEMENA VARON HOLDING INC.
• INDUSTRIAL COATINGS AND EQUIPMENT PROGRAMS (ICEP), INC.
• THE STOREHOUSE IN.
• KIBON HOLDING, CORP
• INMOBILIARIA VESTAL S.A.
• INVERSIONES LOGRES, S.A.
• SUPER TRANSPORTE, S.A.
• AVIONS VOISIN S.A.
• GARDEO HOLDINGS, S.A.
• CORRANO S.A.
• VILFU TRADING & SHIPPING ENTERPRISES INC.
• MIRAR ENTERPRISES INC.
• OFIRENT S.A.
• FORMAL MANAGEMENT SYSTEMS, INC. -.-
• CALDERA VAIL HOLDING, S.A.
• PALM HARBOR HOLDING CORP.
• DEOGAP REALTY, S.A.
• MADMARKET TRADING, S.A.

Subscriber

• LINDA VISTA REALTY, S.A.
• MEGA MAQUINAS , S.A.
• POWER LOGISTIC, INC.
• FLINT EQUITY, CORP.
• EURODAN HOLDING, CORP.
• PARK MANAGEMENT, CORP.
• BUENAVENTURA ISTMEA,S.A.
• DOORWAYS TO THE SEA, CORP.
• SUZANO INTERNACIONAL, S.A.
• JONES CAPITAL CORP.
• GRUPO ZELTIA, S.A.
• J & R INTERNATIONAL,INC.
• INVERSIONES MARQUESAS, S.A.
• PORTONES DEL MAR, S.A.
• CRT INVESTMENT CORP.
• OCEAN VIEW REALTY CO., S.A.
• HERA INVESTMENT HOLDINGS, S.A.
• PLATINUM CORPORATION LTD.
• GENERAL PARTNER, S.A.
• NITROCOL CHEMICAL CORPORATION.
• MANTARAYA HOLDING CORPORATION.
• NITROCOL, S.A.
• NEKOS CORPORATION, S.A.
• PREFLEX, S.A.
• BELLEVAIL, INC.
• VERISON SERVICES, INC.
• SIEBLE FINANZAS S.A.
• INDSTIERENGENIERING & SERVICE AG, CORP.
• AGORA FINANCIAL CORP.
• PROMOTORA COMERCIAL DEL ISTMO, S.A
• ECONOTEL PANAMA,S.A.
• ITRADE CORP.
• TU MODA, S.A.
• BON BINI MULTIPLAZA, S.A.
• ADMIRAL COATINGS COMPANY, INC.
• MIDWAY MARINE INVESTORS, S.A.
• COMERCIALIZADORA CENTROAMERICANA DE PRODUCTOS Y DERIVADOS, S.A.
• MATERIA GRIS, S.A.
• CONCRETE CUTTING & CONSTRUCTION, INC.
• MULTI-BRAND MANAGEMENT INC.
• UCOIL, S.A.
• GESTIONAR, S.A
• DORAL TRADING CORP.
• WOLF HOLDING CORP.
• CLIPEN HOLDING, S.A.
• LATINOAMERICANA DE GRASAS VEGETALES, S.A.
• ORGANIZACION MUNDIAL LA CRUZ DE MALTA, CORP.
• INVERSIONES FORETS, INC.
• VENTANAS SOLAR, S.A.
• SOUTH - AMERICAN LEATHERS CORPORATION
• INVERSIONES CHIREL, S.A.
• COMPAöIA BERONIA, S.A.
• BRAND OVERSEAS CORPORATION
• INVERSIONES ALBARIöO IV,S.A.
• INVERSIONES ALBARIöO III,S.A.
• INVERSIONES ALBARIöO II, S.A.
• CONSTRUCCIONES Y PAVIMENTOS, S.A.
• CAYMUS HOLDING CORP.
• PHELPS FINANCE, INC.
• DOMINUS FINANCE CORP.
• FINANZAS CACIQUE INTERNACIONAL,S.A.
• KYPER TRADING CORP.
• INVERSIONES VALDUERO, S.A.
• GRUPO PERLAS, S.A.
• FUNDACIONES INDUSTRIALES,S.A. (FISA)
• JUMALU, S.A.
• DIGITALIZACION DE IMAGENES, S.A.
• HIPOTECAS DE AMERICA, S.A.
• GRUPO IBEROAMERICANO DE TENENCIA E INVERSIONES, S.A.
• PRIMEX TECHNOLOGY,S.A.
• SLIM PRODUCTION, INC.
• LATIN AMERICAN ENERGY, S.A.
• HEAD HUNTERS PANAMA, INC.
• VINTERIORES DISEöOS, S.A.
• THYSSEN CORP.
• INVERSIONES ALBARIöO, S.A.
• COMPAöIA OPERADORA DEL ORIENTE,S.A.
• TREIL HOLDING, INC.
• INTERSOLUTIONS TECHNOLOGIES, INC.
• GANADERA LAS PALMAS,S.A.
• CONDESAGROUP, S.A.
• ULTRA GLOBAL S.A.
• SOFT FINANCIAL, INC
• DISREDES DE PANAMA, S.A.
• VALLEY COMMODITIES COMPAMY,S.A.
• RM TECNOLOGIA, S.A.
• WEST SUPPLY TRADING CORP.
• TRADING SOLUTIONS INC.
• PANAMA TRIPLE S, S.A.
• ADMINISTRACIONES ROGEMENA, S.A.
• AGUAS INTERNACIONALES, S.A.
• SERVICIOS DE AGUA, S.A.
• P & A CONTRACTORS, S.A. (PACSA)
• KARNACK SUPPLY CORP.
• KEMAH HOLDING, INC.
• MESQUITE SUPPLY CORP.
• MOTORING INTERNATIONAL, INC.
• QUEPOS FINANZAS, S.A.
• INTERNATIONAL EXECUTIVE EDUCATIONAL SERVICES, INC.
• PRINTING TECHNOLOGIES, INC.
• SCUDDER TRADING CO. S.A.
• INDITEX TECNOLOGIA, S.A.
• TECNICAS ISTMEöAS, S.A.
• ZELTIA FINANCE CORP.
• TPI TECHNOLOGY INC.
• LSI TECNOLOGIA, S.A.
• CORAL WAY TRADING CORP.
• NTC FINANCE CORP.
• PRISA HOLDING CORP.
• DOYLES INTERNATIONAL ADVISORS, S.A.
• PALAU INTERNATIONAL CORP.
• EUSKARA TRADING CORP.
• CASTELLANA TECH, INC.
• BARAJAS TRADING CORP.
• FOREST GATE HOLDING CORP.
• INVERSIONES GALEON S.A.
• FINANZAS INTERNACIONALES OSUNA, S.A.
• WHITIE TRADING CORP.
• CHALMERS TRADING,INC.
• FOLSOM FINANCE & INVESTMENT CO. INC.
• KENFFIELD TRADING CORP.
• POWER ENGINEERING CONSULTANTS INC.
• COMPAöIA DE INVERSIONES LOS CERRITOS S.A.
• FUTTON INVESTMENT CORP
• SIENA TECNOLOGIA S.A.
• BOLOGNA MERCHANT TRADING CORP.
• INVERSIONES UNIDENSE, S.A.
• VARESE TRADING CORP.
• RICHEL HOLDING CORP.
• F. ICAZA HOLDING INC.
• INMOBILIARIA SALUDABLE, S.A.
• MORRISON MANUFACTURING COMPANY, INC.
• TECSUPPORT, S.A.
• SOS, INC.
• EMPRESAS PINASCO S.A.
• BLACKMANS TRADING CORP.
• INMOBILIARIA LA CENTELLA, S.A.
• PERTH FINANCE CORP.
• COLUZZI TRADING CORP.
• INVERSIONES RSN S.A.
• BERTELSMAN FINANCE CORP.
• AOG ASESORES EN OPERACION Y GESTION, S.A.
• WESFORD TRADING CORPORATION, INC.
• LATINOAMERICANA DE GENERACION, S.A. (LAGENSA)
• CALISA ISTMEöA, S.A.
• INTERBAHIA INVESTMENT, S.A.
• COMTEL, CO. S.A.
• GRUPO FINANCIERO BCH, S.A.
• CALWAY FINANCE CORPORATION.
• LONGEVITY LABORATORIES, INC.
• CISNE INVESTMENT,CORP.
• SOLUCIONES LATINOAMERICANAS DEL AGUA, S.A.
• SIRAC FINANCE GROUP, INC.
• TIZNOW FINANCE, CORP.
• RAMBER LATINOAMERICANA, S.A.
• JD PAGE INC.
• GLOBAL PAYMENT SERVICES INTERNATIONAL HOLDINGS, INC.
• PFAU INVESTMENT GROUP INTERNATIONAL, INC.
• TALISMAN FINANCE CORP.
• REDMOND TECHNOLOGY TRADING, S.A.
• MONCINO INTERNACIONAL, S.A.
• RED CROWN TRADING COMPANY, S..A
• GREILES INVESTMENT CORP.
• CLINICA DE TRANSPLANTE DE CABELLO AROSEMENA, S.A.
• BURLINGTON INTERNATIONAL CORP.
• WEINBERG TRADING CORP
• MILROY HOLDING CORP.
• REAL PROPERTY INVESTMENT, S.A.
• GUABALA PROPERTY, S.A.
• REAL STATE HOLDING CORP.
• REAL PALACE HOLDING CORP.
• ZANTOX PROPIEDAD INMOBILIARIA, S.A.
• YOPPI INVESTMENT, S.A.
• CARDPRO MERCHANT SERVICES INTERNATIONAL,LTD, INC.
• NOVEY MARINE INC.
• SERVICIOS TECNICOS DE TRANSPLANTE, S.A.
• LATINAMERICAN ENERGY GROUP PANAMA, INC.
• EQUIMODUL, S.A.
• CALIMONT, S.A.
• INTERNATIONAL FINANCE TECHNOLOGY CORP.
• BARNES FINANCE TRADING CORP.
• NOGAL FINANCIAL COMPANY S.A.
• FINANZAS E INVERSIONES ISTMEöAS, S.A.
• CAMARONES DE ALICANTE, S.A.
• SOCIEDAD GENERAL DE INVERSIONES S.A.
• SISTEMAS INTELIGENTES DE PANAMA, S.A.
• SOCIEDAD DE RADIODIFUSION ECONOMICA, S.A.
• INMOBILIARIA DORI0, S.A.
• INVERSIONES QUIMICAS DEL CARIBE, S.A.
• QUIMICOS BASICOS DEL CARIBE (Q.B.C.) S.A.
• INVERSIONES. COM PANAMA, S.A.
• UTC LOGISTICS (PANAMA), INC.
• MONARCH SOLUTIONS CORP.
• KERQUS, S.A.
• GRANDE VISTA TRADING CORP.
• TRANSPORTE AUTENTICO, S.A.
• LA QUEBRADA DE LAS LAGARTIJAS, S.A.
• FRUTOABRE, S.A.
• GLOBUS CAPITAL CORP.
• SERVICIOS DE AGUAS Y ALCANTARILLADOS, S.A.+
• FRANER, S.A.
• MAXFIL LATINOAMERICA CORP.
• AAA DEL ISTMO, S.A.
• ATLAS LATINOAMERICA, S. A.
• COMUNICACIONES GLOBALES LATINOAMERICA,S.A.-LATIN AMERICAN GLOBAL COMMUNICA TIONS,S.A.
• WORLD COMMUNICATIONS AND ASSOCIATES, S. A. - COMUNICACIONES MUNDIALES Y ASOCIADOS, S. A.
• ZEMEX FINANCE, INC.
• TELECOMUNICACIONES BALBOA, S.A.
• SAINT GERMAIN HOLDING CORP.
• ZETA VALORES , S.A.
• VENTAS Y ARRENDAMIENTOS S.A.
• INTERNATIONAL EQUITY FINANCE LIMITED, INC.
• ROCKTWER, INC.
• AGROGANADERA DE COLON,S .A.
• SKYPORT, INC.
• AGROGANADERA PORTOBELO S.A.
• SOCIEDAD DE AGUAS DE AMERICA S.A.
• GRUPO BONANZA S.A.
• FINANZAS INTERNACIONALES REAL S.A.
• GLOBAL PAYMENT SERVICES HOLDINGS, S.A.
• ADMIRALTY SERVICES, INC.
• H.A. ENGINEERING, INC.
• CASTELLANA TECNOLOGIA INTERNACIONAL S.A.
• ENVASES ELOPAK PANAMA S..A
• FINANZAS CIBELES, S.A.
• STAR ALLIANCE TRADING, CORP.
• ESCORIAL INVESTMENT, S.A.
• ATUNES LIMITADA, S.A.
• ATUNES DEL ATLANTICO, S.A.
• NOVDI INVESTMENTS, INC.
• BRUNILDA INVESTMENTS, INC.
• ALQUILA PANAMA, S.A.
• D.G. GROUP INVESTOR TRADING CA., S.A.
• INVERSORES ESTRATEGICOS S.A.
• INSTINET AMERICA, S.A.
• GLOBAL SURVEYS CORPORATION
• YACK FINANCIAL, S.A.
• GLASS TRADING COMPANY S.A.
• ULTRAPARTES PANAMA, S.A.
• ADMINISTRATION WIZARD,INC.
• SMART CONSULTANTS, INC.
• INVERSIONES LOSET, S.A.
• LAZARO DEVELOPMENT, INC.
• RATTAN HOLDING, S.A.
• BORDEN TECHNICAL CORP.
• MATELEC, S.A.
• SPIGIO HOLDING, S.A.
• BATCHEBA, S.A.
• CAESAR'S DEVELOPMENT, INC.
• MAHOGANY INTERNATIONAL TRADING, CORP.
• PROYECTOS CONCABA, S.A.
• SPECIAL MEDIA SYSTEM INC. (S.M. SYSTEM)
• CONTRATISTAS KENTRIK, S.A.
• MULTIVENTAS NACIONALES, S.A.
• DUBLIN BUSINESS, S.A.
• SUPLIVENTAS CARIBE, S.A.
• CARIBBEAN ENERGY RESOURCES COMPANY, S.A.
• GLOBAL VOICE COMMUNICATION (PPANAMA), S.A.
• INVERSIONES SETOL, S. A.
• CAMARONES DEL ORIENTE, S.A.
• JLJ SPORTS, S.A.
• BRISARD FINANCIAL, INC.
• APOLLO CONNECTIONS, S. A.
• OLLIVIERRE MANAGEMENT, S.A.
• MOLYNEAUX ENTERPRISES, CO.
• LETREROS CALSINO, S.A.
• CALSINO INC.
• PALTOO LIMITED, INC.
• OKEIFFE INTERNATIONAL CORP.
• SERGE COMPANY, S.A.
• WHEATLEY TRADING, S.A.
• ZHANG SERVICES, S.A.
• INTERAMERICAN POWER SOLUTIONS, INC.
• IMAGEN FINANCIERA, S.A.
• TRICON SERVICES, INC.
• AROSEMENA VARON HOLDING INC.
• NOB HILL INVESTMENT ,S.A.
• CORPORACION DE DESARROLLO TURISTICO DEL PACIFICO S.A.
• DESARROLLO DE TIERRA PARA LA GANADERIA S.A.
• FETELLY HOLDING COMPANY INC.
• VARADERO TRADE CORP.
• STAR AMERICA, S.A.
• ROW TRANSACTIONS S.A.
• GELAR HOLDING, S.A.
• MIKIOSCO, S.A.
• INMOBILIARIA GIMAL S.A.
• RJD CAPITAL HOLDINGS, S. A.
• S.T. CASTLE INVESTMENT , S.A.
• BATZAK HOLDING CORP.
• PIAZZETA INTERNATIONAL, S.A.
• FERRIS DE PANAMA, S.A.
• INVERSIONES AAI, S.A.
• WORLDQUEST NETWORKS (PANAMA), INC
• NONSTOP COMMUNICATIONS, INC.
• LIMPIOS, S.A.
• INTERNATIONAL GARMENT TRADING, INC
• CORPORACION DE DESARROLLO PARA INVERSIONES GANADERAS S.A.
• BRAMBLE INTERNATIONAL CORP.
• OCEANA FINANZAS, S.A.
• SOLUCIONES AMBIENTALES, S.A.
• TAHOE FINANCE, INC.
• LAGUNA EMPRESA FINANCIERA, S.A.
• AMERICAN HEALTH GROUP S.A.
• GRUPO CAMARONERO DE AGUADULCE, S. A.
• TREESTAR AGRICOLA, S.A.
• INVERSIONES TOSEL, S.A.
• VISTA AMERICA,S.A.
• O.ALVARADO & CO.,INC.
• RIOJA CORP FINANCIERA, S.A.
• QUER INTERNATIONAL, S.A.
• ZUR AMERICA FINANCE, S. A.
• APOLO SYSTEMS, S.A.
• INDUSTRIAL COATINGS AND EQUIPMENT PROGRAMS (ICEP), INC.
• BLACKFIN, CORP.
• ASTRA TRADING CORPORATION.
• TEMEX FINANCIERA INTERNACIONAL, S.A.
• CRISPIN, S.A.
• PARTS AND EQUIPMENT OF AMERICA, INC.
• S.S.C. ASOCIADOS, S.A.
• COPERCO DE AMERICA CENTRAL, S.A.
• SPLIT COMMERCIAL CORPORATION
• CONSTRUCTION EQUIPMENT INTERNATIONAL, INC.
• ZANEX INTERNACIONAL, S.A.
• D.M.C. GROUP, S.A.
• S.A.P. CENTER, S.A.
• M.W.T. ASSOCIATES, S.A.
• SUPER CUB, S.A.
• PAN AMERICAN MARINE ASSOCIATION, S. A.
• VISION FINANCIERA, S.A.
• PINOS TRADING COMPANY, S.A.
• B.C. WALKER & MIREN, INC.
• ATLANTIC CONSULTING AND INVESTMENT CORP
• EAGLERAY ENTERPRISES, S.A.
• CENTRAL AMERICAN FRUIT COMPANY, S.A.
• PIRAMID HOLDING CORP.
• REHABILITACION, S. A. (REHASA).
• DECISION INDUSTRIES, S.A.
• CYFRA INTERNATIONAL TRADING, CO.
• ROCKGAS, S.A.
• INVERSIONES EN AGUAS, S.A.
• TOGOLAISE, S.A.
• MULTIVISION 3000, INC.
• GRUPO GARBO, S.A.
• JOINT FINANCING INVESTMENT, S. A.
• F.G.R.TRADING ALLIANCE, S.A.
• INVERSIONES ENCH, S.A.
• FUELTECH, INC.
• RTZ TRADING CO., S.A.
• FEDERAL TRADING CORPORATION
• ROYAL INTERNATIONAL FINANCIAL , INC.
• M.D.S. HOLDINGS, INC.
• T.D. HOLDINGS, INC.
• GENESIS COMMERCIAL MANEGEMENT, INC.,
• GENESIS GROUP, CORP.
• FELIMERO, INC.
• MEDICAL UNION, INC.
• F.P. GROUP, S.A.
• V.M. CENTER, S.A.
• C.D. CENTER, S.A.
• GROTTO INVESTMENT, INC.
• HORACIO HOLDING, S.A.
• TELET HOLDING CO.,S.A.
• AIDAL PROPERTIES INC.
• ALAID HOLDINGS INC.
• WESTERN OVERSEAS MANAGEMENT, CO. S.A.
• CLARENCE DISCOUNT CORPORATION.
• INVERSIONES LESOT, S.A.
• PANAMA HOUSING INVESTMENT PROJECTS, S.A.
• LETTS FINANCIAL INC
• STOCK CONSULTING CORPORATION
• SKERMENT INTERNATIONAL CO., S.A.
• ZOFRI HOLDING CORP.
• NEY OVERSEAS HOLDING CO., S.A.
• LATIN AMERICAN WATERS ,S.A.
• AIR FINANCIAL CORPORATION
• MANILA SERVICE CORPORATION
• SHENZ INTERNATIONAL HOLDING CO, S.A.
• DOMARI, S.A.
• COMPAöIA INTERNACIONAL DE AGUAS, S.A.
• UNITED PANAMANIAN HOUSING DEVELOPMENT, CORP.
• SOL AMERICAS CORPORATION
• LOCIAMI, INC.
• RACLE TRADING CORPORATION
• COMPUCILINA, INC.
• NECKY INTERNATIONAL, CORP
• INTERAMERICANA DE AGUAS Y SERVICIOS, S.A. (INASA).
• WEDDER TRADING INC.
• KAWAS HOLDING COMPANY, S.A.
• MARDUK COMPAöIA LTDA., S.A.
• PORTO LOKI BUSINESS, INC.
• INVERSIONES CHALULA,S.A.
• LIVY HOLDING COMPANY, S.A.
• OTUS INC., S.A.
• BUSINESS UNIVERSITY OF THE CARIBBEAN, S.A.
• BASTIMENTO HOLDING CORP.
• ZUCK ELECTRIC CORP.
• EPSYN FINANCE CO., S.A.
• CREDITOS DEL ISTMO, S.A.
• V.R.D. INVESTMENT, S.A.
• SCHALLCA CORPORATION.
• GLOBEX FINANCIAL CO., S.A.
• LSE HOLDING CORPORATION
• BANER TRADING COMPANY S.A.
• VALHALLA_REALTY INC.
• VERSAL AMERICA,S.A.
• INVERSIONES YMIR,S.A.
• ZOREK INTERNATIONAL CORP.
• INMOBILIARIA EJE, S.A.
• A.J.A. REALTY, INC.
• BMC INTERNATIONAL FINANCE S.A.
• PONTUAL INTERNATIONAL S.A.
• MUNICH & MUNICH CONSULTING (LATIN AMERICA) INC.
• DATA INVESTIGACION Y ANALISIS DE MERCADO, S.A.
• PPB INTERNATIONAL CO. S.A.
• JBL INTERNATIONAL GROUP S.A.
• VILLAS DEL MAR CONTADORA S.A.
• VISENZA CORPORATION.
• PERUGIA LTD,S.A.
• MANTUA TRADING CORP.
• LAMBRUSCO CORP,S.A.
• PUCHINI INTERNATIONAL S.A.
• FRASCATI TRADING CO. S.A.
• NAZZOLA CORPORATION
• TRASTEVERE S.A.
• MOLISSE INTERNATIONAL S.A.
• CORZO INTERNATIONAL CORP.
• APULIA INTERNATIONAL CORP.
• VOLTURNO PANTRADING,S.A.
• MATRIX SERVICE INC.
• COFAR ADMINISTRADORA S.A.
• MKI INTERNACIONAL S.A.
• OFINTEK AMERICA S.A.
• COMERCIALIZADORA EL CAZADOR, S.A.
• ALQUILERES DE EQUIPOS AGUADULCE, S.A.
• INMOBILIARIA INTERNACIONAL SARA S.A.
• FONDO CARIBEöO DE BIENES CULTURALES S.A. (F.C.B.C. , S.A.)
• CONSTRUCCION AND TRADE FINANCIAL INTERNACIONAL S.A. (CONTRUTRADE S.A.)
• FORESTAS DE PALENQUE, S.A.
• UTTER ZONE TRADING, INC.
• SAND HOLDING, S.A.
• BISCON COMPAöIA,S.A.
• ALPHALINK COMMERCIAL CONSULTANTS LTD., S.A.
• E.T. VEHICLE,S.A.
• C. Q. R. PANTRADING. S.A.
• VASCO AMERICA, S.A.
• BELIZE INTERNATIONAL, S.A.
• GUNNAR ENTERPRISES S.A.
• IDUN FINANCE INC
• SERVICIOS ODONTOLOGICOS, S.A.
• MULTIPLE ZONE CENTRO AMERICA Y EL CARIBE, INC.
• GLOBAL REALESTATE & DEVELOPMENT PANAMA, S.A.
• ECU ICS (PANAMA) S.A.
• ADMINISTRADORA INTERNACIONAL, S.A.
• BRADCO COMPANY, S.A.
• OVID LIMITED, S.A
• INTERCOASTAL MARINE, INC.
• J + E HOTEL HOLDING, S.A.
• MONITORES INTENSIVOS S.A.(MISA)
• GANAFACTORING, S.A.
• C+H+HR HOLDING, S.A.
• INVERNET INTERNATIONAL COMPANY S.A.
• GASTRO HOLDING (EUROPE), S.A.
• VITRO AMERICA, S.A.
• GRANJA DEL SOL, S.A.
• TROEZEN INVESTMENT, S.A.
• LOAN & MORTGAGE OF THE AMERICAS, S.A.
• CORPORACION DE COSTAS TROPICALES PANAMA & COLON S.A.
• COMPAöIA DE INVERSION DE LA COSTA ATLANTICA S.A.
• INVERSIONES LA TASITA DE ORO S.A.
• LUNA NUEVA INVESTMENTS, S.A.
• DESARROLLO NUEVO AMANECER, S.A.
• DESARROLLO BAHIA MANZANILLO, S.A.
• GEORGE'S GERMAN HAM & SAUSAGE LTD., S.A.
• DESARROLLO COSTEöO, S.A.
• CONDOF, S.A.
• DESARROLLO BUENA VISTA, S.A.
• TROPICOSTAS DE PANAMA, S.A.
• MUSTER TRADING CO., S.A.
• AMAZILIA INVESTMENTS, S.A.
• NAPA HOLDING CORPORATION.
• PEMASKY HOLDING, CORP.
• DESARROLLO TURISTICO ATLANTICO, S.A.
• DESARROLLO INTERMAR, S.A.
• DESARROLLO FRONTMAR, S.A.
• DESARROLLO ZONA ATLANTICO, S.A.
• INVERSIONES INTERMAR, S.A.
• INMOBILIARIA GUIPAR, S.A.
• INVERSIONES GUIPAR, S.A.
• DESARROLLO BAHIA MAR, S.A.
• INMOBILIARIA ESCONDIDA S.A.
• COSNTRUCCIONES TRITOM, S.A.
• JANGURA HOLDING, S.A.
• STERN & CO., S.A.
• REPRESENTACIONES INDUSTRIALES DE PANAMA, S.A.
• BABSON HOLDING, INC.
• PANALCO INTERNACIONAL S.A.
• CASTILLO INVESTMENT, S.A.
• CARIBBEAN SPIRITS, INC.
• CBIT ASSET INVESTMENTS S.A.
• INVERSIONES TRONATTI, S.A.
• REITZAS INVESTMENT CORP.
• CEHI REALTY, INC
• FOSSIL FUELS, S.A.
• BUSINESSLINKS INTERNATIONAL, INC.
• BERINGER & SALOMON, S.A.
• CLARIBEL CACHE, S.A.
• JOCASTA ENTERPRISES, INC
• BUDO ENTERPRISES S.A.
• INVESTMENT & DEVELOPMENT, INC.
• UNLIMITED SEAFOOD, S.A.
• QUMTUN HOLDINGS CORP.
• DOMINI BUSINESS, S.A.
• SCOTTS VALLEY CORPORATION, INC.
• GAMANAMA , S.A.
• MAORI HOLDING CORP.
• BOVRIL INTERNATIONAL CORPORATION
• TURPIAL INTERNACIONAL, S.A.
• QUEMGAS INTERNATIONAL CORP.
• APACHES INTERNACIONALES, S.A.
• INVERSIONES FINANCIERAS PANAMEöAS, S.A.
• LATINOAMERICANA DE MERCADEO DIRECTO, S.A.
• INMOBILIARIA VESTAL S.A.
• LATINOAMERICANA DE RECOBROS E INSPECCIONES, S.A.
• BALDER INVESTMENTS CORPORATION INC.
• HENA HOLDING INC.
• BALYN INVESTMENT INC.
• LYNCEUS INTERNATIONAL CORP.
• AGROPECUARIA LA MANCHURIA, S.A.
• INDRA TRADING CORP.
• KISHAR INTERNATIONAL S.A.
• AMYCUS INTERNATIONAL CORP.
• ASOPUS ENTERPRISES CORP.
• SUMINISTROS ELECTRICOS DE PANAMA, S.A.
• EQUIPOS ATROPOS, S.A.
• HARLOW INVESTMENTS, S.A.
• MAGNA BUSINESS, INC.
• SPECIAL MEDIA SERVICES INC. (S.M. SERVICES )
• CONSORCIO COLOMBIANO DE INGENIERIA PANAMA, S.A. (C.C.I)
• LAUNCE HOLDING CORP.
• FERIN TRADING CORP.
• BRISAS DEL PACIFICO, S.A. -.-
• CONSTRUCTORA BRICE, S.A.
• PLUTARCH HOLDINGS INC.
• PROMOTORA BRISAS DE SAN PABLO S.A.
• CHIRON HOLDINGS CORP.
• VIGRID INTERNATIONAL CORP
• SCYLLA HOLDING INC.
• GRENDEL INC.
• INTERCAPITAL FUND , INC.
• BIENES RAICES V3, S.A.
• TIAMAT, S.A.
• INVERSIONES LOGRES, S.A.
• BACHY-FUNDACIONES, S.A.
• PANAMA DRY-CLEANERS, INC.
• EDUI REALTY S.A.
• ALPASA, S.A.
• PISOS DE PARQUET, S.A.
• MASA REALTY INC.
• JEFFREY ASSOCIATES, S.A
• MERIBA REALTY INC.
• TROPICAL FORESTS INTERNATIONAL INC
• NEW WORLD PRODUCTS CORPORATION
• JOCAR REALTY INC.
• VERTOLIOT SERVICE, S.A.
• BACHY PANAMA, S.A.
• PROYECTOS SALAMANDER, S.A. -.-
• GRAPHIC SHOP, S.A.
• RIAL, INC.
• INTERAMERICAN VISION S.A.
• ROLLS PROPERTY INC.
• CULKIN HOLDING, S.A.
• SECURITY SYSTEMS, INC.
• SUPER TRANSPORTE, S.A.
• RAPID REPAIR A.C., INC.
• FAIRCHILD GROUP INTERNATIONAL INC.
• INVERSIONES GANESA S.A.
• PARVATI INC.
• MAöANA V, S.A.
• NATIONAL BUSINESS CORPORATION
• KAYE FINANCIAL CORPORATION
• MUHLEBERG HOLDING INC.
• SCAVENGER INTERNATIONAL INC.
• INTERNATIONAL COAL FINANCIAL-FONDO INDIVIDUAL DE CAPITAL EXTRANJERO, S.A.
• BODEGAS DE AMERICA, S.A.
• INVERSIONES EN SALUD, S.A.
• GERENCIA DE HOSPITALES S.A.
• CLINICA DE CIRUGIA G. DE P. S. A.
• LINCOLN & CO., INC.
• ALARMAS Y COMUNICACIONES DE CHIRIQUI, S.A.
• ALARMAS Y COMUNICACIONES DE CHIRIQUI, S.A.
• TREX AMERICA INC.
• AMORGO ENTERPRISES INC.
• VILFU TRADING & SHIPPING ENTERPRISES INC.
• DAIKE MANAGEMENT CORPORATION
• NOMAR TRADING CORPORATION
• DAIRENE CORPORATION
• CALDERA VAIL HOLDING, S.A.
• PALM HARBOR HOLDING CORP.
• DEOGAP REALTY, S.A.
• ANTIBLAZE CIELOS S.A.
• FORTUNA VENTURE GROUP INCORPORATED
• QUEEN LEASING GROUP INC.
• 22 MARINA BLUE CORP.
• BELLAMY PANAMA ENTERPRISE INC.
• HEAND FINACE EQUITY CORP.
• NORTHERN PALMS HOLDING CORP.
• GRUPO EGEN,S.A.
• RRA LOFT MIRAMAR, S.A.
• VALUE ADVISOR, INC.
• WADELL EQUITY CORP.
• SKIPPEN CONSULTANTS, INC.
• WORLDMARK DEVELOPMENT, CORP.
• ROYAL PALM EQUITY CORP.
• RAMBLAS FINANZAS, S.A.
• KING PACIFIC TRADING CORP.
• MANDARIN ASSET CORP
• FONCO TRADING SERVICES INC.
• STARMON HOLDING S.A
• ASOTECH HOLDING CORP
• FACTURE, CORP.
• HATHOR PROPERTIES, INC.
• IBERIAN MARKETING CORP.
• ATTUS HOLDING CORP.
• GALDIANO PANAMA, S.A.
• CONSORCIO AQUA, S.A.

Agent

• PROPIEDAD ILIMITADA, S.A.
• MUQUEL, S.A.
• CARIGUANA, S. A. SE TRANSFOMO EN SOCIEDAD COMANDITA
• THE STOREHOUSE IN.
• PERLAS CRUISER INC.
• LABORATORIOS BOYD, S.A.
• AVIONS VOISIN S.A.
• SIMPSONVILLE TRADING INC.
• ALLIED CONTRACTORS COMPANY INC.
• PRAIRIE INTERNATIONAL FINANCING INC -.-
• ACCESORIOS INDUSTRIALES, S. A. -.-
• MEDITERRANEAN PROPERTIES INC.
• SPAIN REALTORS INC.
• FERSO HOLDINGS INC.
• DL SERVICIOS ESPECIALIZADOS, S.A.
• PORTA FELT TRADING (PANAMA) INC
• PROFITEX AG.
• AMORGO ENTERPRISES INC.
• VILFU TRADING & SHIPPING ENTERPRISES INC.
• MIRAR ENTERPRISES INC.
• DAIKE MANAGEMENT CORPORATION
• OROPEC INTERNATIONAL CORPORATION
• NOMAR TRADING CORPORATION
• COMPANIA PANAMENA DE MAIZ, S.A.
• ATLAS CHEMICAL DISTRIBUTORS INC.
• INTERSALT INC.
• CONCRETE & ASPHALT INC
• RENOVA UNIVERSAL, S.A.
• GRUPO DURENA, S.A.
• POINT TEK INC.
• PINE FOREST HOLDING CORP.
• TRANS EX CORP.
• TRANS EUROPE ENTERPRISES CORP.
• EDMA GROUP INC.