FERNANDO URRUTIA

Director

• EQPE PANAMA, S.A.
• GARGOVEYOR SYSTEMS, S.A.
• SHELBY PICTURES-TV, N.V., S. A.
• CHESTERBROOK PROPERTIES, INC.
• RIDGEWAY CORPORATION.
• S. W. FINANCIAL CORPORATION.
• INDUSTRIAL TECNICA NAVAL,S.A.(INTECNA)
• SIGMA DEVELOPMENT AND INVESTMENT COMPANY,S.A.
• RIVER VIEW DEVELOPMENT,S.A.
• ROCKFORD DEVELOPMENT AND INVESTMENT COMPANY,S.A.
• HILLSIDE PROPERTIES,S.A.
• COMEXA COMERCIALIZADORA EXTRANJERA, S.A.
• MERCANTIL DE REY, S. A.
• SAJONIA MERCANTILE, INC.
• OSIRIS MERCANTILE, S.A.
• BANTA MERCANTILE, INC.
• SIRIUS INTERNATIONAL, S.A.
• PRETORIA WORLDWIDE CORPORATION.
• AMSTEL ORNAMENTALS, S.A.
• WESTPORT DEVELOPMENT, S.A.
• ALEXANDRIA MERCANTILE, S.A.
• OFFSHORE MERCANTILE, S.A.
• RICHFIELD INTERNATIONAL INVESTMENTS, INC.
• PEL TRADING INC.
• FIRST COMMERCIAL OVERSEAS INC.
• ALPHA RESEARCH & CONTRACTORS (A.R.C.) INC.
• RAKY INVESTMENT, S. A.
• PARANA GUAZU INC.
• WILTON INVESTMENTS INC.
• INVERSIONES ANLO, S.A.
• WINDSOR TRADING INTERNATIONAL COMPANY, INC.
• MIDLAND MERCANTILE AND TRADING COMPANY INC.
• DEVON MERCANTILE, INC.
• OCEANSIDE PROPERTIES INC.
• MUNDO MERCANTIL, S.A.
• Z.U.M. PANAMA, INC.
• EBONY INVESTMENT COMPANY, S.A.
• ANAHI IMPORT AND EXPORT, S.A.
• CYPRESS INTERNATIONAL COMPANY, S.A.
• MONTERREY HOLDINGS, S.A.
• SAN VOTTORE CORPORATION
• TUREX INTERNATIONAL S.A.
• WALDORF INTERNATIONAL CORPORATION, S.A.
• BENIARAD, S.A.
• INTERAMERICAN REXPO, S.A.
• WESTFOREST DEVELOPMENT COMPANY, S.A.
• DORCHESTER TRADING AND FINANCE CORPORATION, S.A.
• FIDELITY INVESTMENT INCORPORATED
• COMERCIO INTRA REGIONAL, S.A.
• NACIONAL FINANCIERA DE PANAMA, S.A.
• GREENFIELD DEVELOPMENT COMPANY S.A.
• ISLAND GROUP HOLDING COMPANY, S.A.
• SOCIEDAD MERCANTIL INTERNACIONAL S.A.
• OSLO DEVELOPMENT COMPANY, S.A.
• DANIA DEVELOPMENT COMPANY, S.A.
• INTERSTATE INVESTMENTS, INC.
• WEXFORD INVESTMENT AND DEVELOPMENT CORPORATION, S.A.
• CEDRIC DEVELOPMENT, S.A.
• RYDELL FINANCE AND INVESTMENT COMPANY, S.A.
• FINANCIAL HEMISPHERE CORPORATION, S.A.
• NORWEST FINANCE AND TRADE CORPORATION, S.A.
• ANSA, S.A.
• INTERTRA, S.A.
• FIDELITY FINANCE CORPORATION, S.A.
• AJAX FINANCIAL SERVICE, S.A.
• TERRANOVA INVESTMENT, S.A.
• INSTITUTO FINANCIERO PROVEN, INC.
• GLASGOW DEVELOPMENT COMPANY, S.A.
• CENTRAL SOUTH INVESTMENT, INC.
• RETEC DEVELOPMENT COMPANY, S.A.
• TOTAL INVESTMENT, S.A.
• SIGMA MERCANTILE AND INVESTMENT, S.A.
• LEATHER AND HIDES INTERNATIONAL, INC.
• ASIAN PROJECT SERVICES INC.
• NATIONAL TRANSPORT SERVICE, S.A.
• EUROSECURITIES, INC.
• TIVELIO INTERNACIONAL, S.A.
• AMERICUS INVESTMENT COMPANY, S.A.
• SWISS TRADING COMPANY, S.A.
• FRANK-INTER PROMOCIONES E INVERSIONES, S.A.
• MONTESCO INVESTMENT, S.A.
• DANCAL CORPORATION, S.A.
• SOUTH SEAS TRADING CORPORATION, S.A.
• FARELLA, S.A.
• P.S.B., S.A.
• INTERNATIONAL SYSTEMS AND CONTROLS, S.A.
• SILBRE, S.A.
• PROMOVEX CORPORATION
• ROUSSEL AND JONES CORPORATION.
• CEDAR MANAGEMENT & INVESTMENTS, S.A.
• TRANS WORLD TRADING COMPANY S.A.
• WINSTON TOWERS 700, S.A.
• TRANS PACIFIC LINE, S.A.
• ROHAR ENGINEERING INTERNATIONAL CORPORATION.
• SAN JUAN INVESTMENT, S.A.
• TRANS NATIONAL TRADING CO.
• INTRAMARCO, S.A.
• FIDELITY ASSURANCE COMPANY, S.A.
• EUROPEAN AMERICAN FINANCIAL, S.A.
• CANNON TRADING CO., S.A.
• INTERAMERICAN GUARANTY AND FIDELITY CORPORATION
• CUMBRE DE SURAMERICA, S.A.
• KOBO FINANCE AND TRADING COMPANY, S.A.
• FOMENTADORA MERCANTIL S.A.
• MERCANTIL ATLAS, S.A.
• IMPORTACIONES Y EXPORTACIONES PINAR, S.A.
• ERRATEL, S.A.
• BABCOCK & WILCOX LATINOAMERICA, S.A.
• SHIPLEY TRADING CO., S.A.
• KARICAL, S.A. -.-
• RUTLAND DEVELOPMENT, INC.
• PICKFORD DEVELOPMENT, INC.
• OVERSEAS DEVELOPMENT AND TRADING CORP.
• AQUA, INC.
• COMMODITIES INTERNATIONAL DEVELOPMENT, S.A.
• GOLDKIST MERCANTILE, INC.
• SHEFFIELD RESOURCES CORP. -.-
• BELTRAN DEVELOPMENT INTERNATIONAL, INC.
• VALLEY VIEW INVESTMENTS, INC.
• CITRO TRADING CORP.
• BARRINGTON INTERNATIONAL CORPORATION
• VERMONT MERCANTILE, INC.
• CENTRUM CONTINENTAL TRADING AND SHIPPING INC.
• PURDUE CORPORATION.
• DELMONICO INTERNATIONAL INVESTMENTS, INC.
• LEXINGTON TRADING CORPORATION
• CARE EXPRESS S.A.
• BLUEMONT CORPORATION
• TIMBERLANE DEVELOPMENT, S.A.
• LARSA INVESTMENTS, INC.
• INVERSIONES ROBIN, S.A.
• CLARIDGE FINANCIAL CO. INC.
• INVESTMENT PROPERTIES INC.
• TYRREL ENTERPRISES, INC.
• SELWYN ENTERPRISES, INC.
• BRIXELL PROPERTIES,INC.
• MERCANTIL DORAL, S.A.
• PASADENA MERCANTILE, INC.
• BRENTWOOD DEVELOPMENT, INC.
• MARGATE MERCANTILE INC.
• PINEVILLE PROPERTIES, INC.
• WESTERN GEOPHYSICAL CORPORATION.
• FELDA PROPERTIES, INC.
• OIL & MINERALS INVESTMENTS, INC.
• INGLEWOOD PROPERTIES, INC.
• TOPAZ MERCANTILE, INC.
• MARETH ENTERPRISES INC.
• WILLSHIRE INTERNATIONAL FINANCIAL COMPANY, S.A.
• INVERSIONES LAGOMAR, S.A.
• LAREDO INVESTMENTS, S.A.
• SAMSONITE DE INVERSIONES INC.

Subscriber

• KABIR INTERNATIONAL TRADING CO.
• PROMARKETING, S.A.
• GARGOVEYOR SYSTEMS, S.A.
• AMENDARIZ,S.A.
• SHELBY PICTURES-TV, N.V., S. A.
• JOGERA BUENAVENTURA CORPORATION.
• CHESTERBROOK PROPERTIES, INC.
• ROSMAR, S.A.
• RIDGEWAY CORPORATION.
• CA ' BELLO . A.
• S. W. FINANCIAL CORPORATION.
• SIGMA DEVELOPMENT AND INVESTMENT COMPANY,S.A.
• MULTI-TRAK INTERNACIONAL, S.A.
• RIVER VIEW DEVELOPMENT,S.A.
• COMEXA COMERCIALIZADORA EXTRANJERA, S.A.
• KOSMUS INVESTMENT AND TRADING COMPANY, INC.
• DOLOMITE INVESTMENTS, S. A.
• CRANE TRADING CORPORATION.
• MERCANTIL DE REY, S. A.
• CARIBBEAN BASIN INCENTIVE CORPORATION (PANAMA), C.B.I.C. (PANAMA)
• SAJONIA MERCANTILE, INC.
• OSIRIS MERCANTILE, S.A.
• TEBAS INVESTMENT, INC.
• BANTA MERCANTILE, INC.
• SIRIUS INTERNATIONAL, S.A.
• AMSTEL ORNAMENTALS, S.A.
• WESTPORT DEVELOPMENT, S.A.
• ALEXANDRIA MERCANTILE, S.A.
• OFFSHORE MERCANTILE, S.A.
• RICHFIELD INTERNATIONAL INVESTMENTS, INC.
• FIRST COMMERCIAL OVERSEAS INC.
• WESTMINSTER DEVELOPMENT COMPANY, S.A.
• ICANA INVESTMENTS, S.A.
• INVERSIONES Y DESARROLLO PALMA REAL, S. A.
• FIN-Y-PARSA CORPORATION
• EAGLE INTERNATIONAL INVESTMENT CORPORATION
• ADAMAS MANAGEMENT CORPORATION
• ADAMS DIAMOND CORPORATION, S.A.
• MALMSTEN SYSTEM, S.A.
• ROCKWELL INVESTMENTS, INC.
• NORTHWEST TRADING COMPANY, S.A.
• PARANA GUAZU INC.
• WILTON INVESTMENTS INC.
• WINDSOR TRADING INTERNATIONAL COMPANY, INC.
• MONTEALEGRE FINANCIAL COMPANY, S.A.
• MIDLAND MERCANTILE AND TRADING COMPANY INC.
• DEVON MERCANTILE, INC.
• WINGATE INVESTMENTS, INC.
• OCEANSIDE PROPERTIES INC.
• MUNDO MERCANTIL, S.A.
• MARGARITHA INVESTMENTS, S.A.
• PACIFIC JET SALES, INC.
• BALTRA SECURITIES COMPANY, S.A.
• MAYA MERCANTILE, INC.
• COMPANIA BARCA DE SINGAPUR, S. A.
• RICHARD CARTER S.A.
• LABORATORIOS Y REPRESENTACIONES INTERNACIONALES,S.A.
• BROMLEY INDUSTRIES, S.A.
• PAPARAZZI (BALBOA)S.A.
• EBONY INVESTMENT COMPANY, S.A.
• MONTERREY HOLDINGS, S.A.
• HPTI INCORPORATED
• WALDORF INTERNATIONAL CORPORATION, S.A.
• WHITE RIVER INVESTMENT COMPANY, S.A.
• FIRST INVESTMENT AND DEVELOPMENT COMPANY, S.A.
• BENIARAD, S.A.
• FISHERIES MANAGEMENT & CONSULTANTS, S. A.
• CANFER TRADING COMPANY, S.A. (CANFER)
• INTERAMERICAN REXPO, S.A.
• WESTFOREST DEVELOPMENT COMPANY, S.A.
• DORCHESTER TRADING AND FINANCE CORPORATION, S.A.
• MINI-MAX INCORPORATED
• EQUIPO DEL NORTE, S. A.
• NACIONAL FINANCIERA DE PANAMA, S.A.
• GREENFIELD DEVELOPMENT COMPANY S.A.
• SOLIMAR INTERAMERICANA, S.A.
• PONCE DEVELOPMENT, S.A.
• SOCIEDAD MERCANTIL INTERNACIONAL S.A.
• RAMYSA INVESTMENT, S.A.
• GRIFFIN INVESTMENTS, S.A.
• PARTICIPACIONES FINANCIERAS CORP. (PAFICORP).
• KENT INVESTMENT AND DEVELOPMENT COMPANY, S.A.
• WEXFORD INVESTMENT AND DEVELOPMENT CORPORATION, S.A.
• NORWEST FINANCE AND TRADE CORPORATION, S.A.
• FIDELITY FINANCE CORPORATION, S.A.
• AJAX FINANCIAL SERVICE, S.A.
• GLASGOW DEVELOPMENT COMPANY, S.A.
• RETEC DEVELOPMENT COMPANY, S.A.
• SIGMA MERCANTILE AND INVESTMENT, S.A.
• TECNICA NAVIERA Y PORTUARIA (PANAMA), S.A.
• INVERSIONES Y ADMINISTRACION ATLANTICO, S.A.
• ASIAN PROJECT SERVICES INC.
• NATIONAL TRANSPORT SERVICE, S.A.
• SPANISH AMERICAN MERCANTILE, S.A.
• SOUTH SEAS TRADING CORPORATION, S.A.
• NAHILCE, S.A.
• P.S.B., S.A.
• STATUS ENTERPRISES, S.A.
• OMNI INTERNATIONAL, S.A. (DISUELTA) -.-
• INTERNATIONAL SYSTEMS AND CONTROLS, S.A.
• CONSOFT INTERNACIONAL, INC.
• ZUMAYA PANAMA, S.A. -.-
• SILBRE, S.A.
• ASESORES ESPECIALIZADOS, S.A.
• GENERAL INTERNATIONAL TRADING, S.A.
• TARIC CORPORATION, S.A.
• PROMOVEX CORPORATION
• ROUSSEL AND JONES CORPORATION.
• CEDAR MANAGEMENT & INVESTMENTS, S.A.
• INVESTMENT CORPORATION OF PANAMA S.A.
• TRANS WORLD TRADING COMPANY S.A.
• WINSTON TOWERS 700, S.A.
• MALAGA MERCANTILE, S.A.
• CENTRO INTERNACIONAL DE EXPORTACIONES, S.A.
• MARISOL INVESTMENT, S.A.
• CHAMPION MERCANTILE AND INVESTMENT CO., S.A.
• VENEZUELAN TOURISM SERVICES, S.A.
• SEA PACIFIC LINE, S.A.
• GERENCIA Y DESARROLLO, S.A.
• IMPORTACIONES Y EXPORTACIONES PINAR, S.A.
• EKIMER CORP. S.A.
• SHIPLEY TRADING CO., S.A.
• INVERSIONES PB TRADING CO., S.A.
• REDWOOD HOLDINGS INC.
• RUTLAND DEVELOPMENT, INC.
• PICKFORD DEVELOPMENT, INC.
• LUCKY VENTURE CORPORATION
• OVERSEAS DEVELOPMENT AND TRADING CORP.
• ALBERTO MCGREGOR, S.A.
• LAKE FOREST DEVELOPMENT, INC.
• TROPICUS PROPERTIES, INC.
• GOLDKIST MERCANTILE, INC.
• QUEEENSLAND ENERGY INC. S.A.
• ORINOCO HOLDING CORP.
• GRANE, INC.
• RESTAGMARI, INC.
• RHEINGOLD MANAGEMENT INC.
• ALLSEAS HOLDING COMPANY, INC. -.-
• ALLSEAS OFFSHORE SERVICES, INC. -.-
• EJECUN, S.A.
• INTERNATIONAL REALTY INVESTMENT CONSULTANTS INC.(IRIC) INC.
• FOLSOM CORPORATION.
• BIG CREEK INTERNATIONAL, INC.
• C.D.C. (1985) CONSTRUCTION AND DEVELOPMENT CORPORATION
• ATLANTIC POINT INC. -,-
• OSHAP (PANAMA) CORPORATION.
• CITRO TRADING CORP.
• BARRINGTON INTERNATIONAL CORPORATION
• VERMONT MERCANTILE, INC.
• S.T.K.INTERNATIONAL PANAMA, S.A.
• CENTRUM CONTINENTAL TRADING AND SHIPPING INC.
• PREMIER INTERNATIONAL FINANCE CORPORATION
• PURDUE CORPORATION.
• INVERSIONES RIVERSAY PLAZA S.A.
• WYNDFORD TRADING CORPORATION
• MECAPARTS DISTRIBUTORS INC.
• SEVEN SEAS TRADING CORP.
• EXPRINTER RELATED TO TRAVEL; INC:
• DELMONICO INTERNATIONAL INVESTMENTS, INC.
• BLUEMONT CORPORATION
• ALDEN DEVELOPMENT INC.
• TIMBERLANE DEVELOPMENT, S.A.
• MAXWELL & GROSS INC.
• CORONA ROYAL, S.A.
• WYNNE CORPORATION.
• SEA FARMING, INC.
• MARION INTERNATIONAL, INC.
• FAIRFIELD MERCANTILE, INC
• CLARIDGE FINANCIAL CO. INC.
• AMEROPA FINANCIAL INC.
• INVESTMENT PROPERTIES INC.
• INMOBILIARIA IPIRANGA S.A.
• BLANCO Y NEGRO, S.A.
• MANAURE, S.A.
• TYRREL ENTERPRISES, INC.
• BIRCHFIELD INTERNATIONAL FUND INC
• SELWYN ENTERPRISES, INC.
• BRADFORD INVESTMENTS,INC.
• WELLINGTON DEVELOPMENT CO.,S.A.
• CARIBBEAN BASIN ECONOMIC DEVELOPMENT CORP.
• AMBROSIA INTERNATIONAL CORPORATION
• BUCKNER ENTERPRISES, S.A.
• SUFFOLK INVESTMENTS, INC.
• CONCORD FINANCE INTERNATIONAL, CORP.
• MERCANTIL DORAL, S.A.
• BARBICAN TRADING CORPORATION
• PASADENA MERCANTILE, INC.
• MERCANTIL BELLO MONTE, S.A.
• BRENTWOOD DEVELOPMENT, INC.
• MAIDA HOLDINGS INC.
• THE EAGLE GROUP LIMITED, INC.
• K.I.D.S. DISTRIBUTORS, INC.
• MARGATE MERCANTILE INC.
• PINEVILLE PROPERTIES, INC.
• WESTERN GEOPHYSICAL CORPORATION.
• KYOWA DE PANAMA, S.A.
• HENLEY MERCANTILE INC.
• EAST LONDON PARTNERS LTD. (S.A.)
• BUFFALO PARTNERS LTD.(S.A.)
• SYDNEY PARTINERS LTD. (S.A.)
• WELLINGTON PARTNERS LTD. S.A.
• BARBADOS PARTNERS LTD.S.A.
• ASSETS MANAGEMENT & OFFSHORE SERVICES, S.A.
• INGLEWOOD PROPERTIES, INC.
• TOPAZ MERCANTILE, INC.
• MARETH ENTERPRISES INC.
• ENTERPRISES INTERNATIONAL (PANAMA) INC.
• WILLSHIRE INTERNATIONAL FINANCIAL COMPANY, S.A.
• KEDAR DEVELOPMENT COMPANY, INC.
• MIRAMAX DEVELOPMENT, INC.
• INVERSIONES LAGOMAR, S.A.
• AFIRA LTD., S. A.
• PLANTA FIDUCIARIES LTD., S. A.
• SEAWAY INTERNATIONAL, S.A.
• LIMA-RIO INVESTMENTS,INC.
• STAR COAL TRADING, S.A.

Agent

• MEDIBALLE S.A.
• HOME SHOPPING CLUB SOUTH, INC.
• FEDERICO GUERRA, S.A.
• TALLER HIDALGO, S.A.