JOSE RAUL ARIAS GARCIA DE PAREDES

Director

• ACTIVIDADES CHIRICANAS,S.A.
• ACTIVIDADES NACIONALES II, S.A.
• LOUISVILLE INVESTMENT CORP.
• SPANISH LAKE CORP.
• GRUPO BANISTMO, S.A.
• NEARNAVE, S.A.
• EL CENTRO DEL MUFFLER, S.A.
• ACTIVIDADES NACIONALES, S.A.
• CLUB GALLISTICO DE PANAMA, S.A.
• PRADERAS DE EL VALLE, S.A.
• PUNTA PRIMA S.A.
• TRIBASA PANAMA, S.A.
• FLORIDIAN REAL ESTATE INC.
• NAGAHAM INVESTMENTS S.A.
• BIENES RAICES NEVIS, S.A.
• CORPORACION VIANEY, S.A.
• ROTULOS Y VALLAS, S.A. (ROVASA).
• MARELA, S.A.
• STATUS S.A.
• GEORGIA TRANSWORLD INC.
• CHARENTE ENTERPRISES INC.
• CHALLENGER TRAVELING SERVICES INC.
• SAX-HILL CORP.
• ZAMCO HOLDING COR.
• GRUPO MUNDIAL DE VALORES, S.A.(ESPAÑOL) MUNDIAL ASSETS GROUP CORP . (INGLES)
• VISTAS ALTOPLANO, S.A.
• ARAMO FIDUCIARY SERVICES, INC.
• CORPORACION EL BREÑON, S.A.

Subscriber

• NEARNAVE, S.A.
• THE PINE TRADING CORPORATION
• FRELU INVESTMENTS, S.A.
• TRESVILL INCORPORATED,
• MOVIPAOL INCORPORATED
• VANELIZ INVESTMENTS, S.A.
• EL CENTRO DEL MUFFLER, S.A.
• BALDOSAS ITALIANAS S.A.
• DYNAPOL CORP.
• P.I. PANCONSULT INC.
• INMOBILIARIA MARSON, S.A.
• CEMYGA, S.A.
• CAPITAL APPRECIATION CORP.
• FLORIDIAN REAL ESTATE INC.
• CORALWAY INDUSTRIAL CORP.
• THERMOTEC INGENIERIA Y SERVICIO S.A.
• 3RD MILLENIUM CORP.
• SERVICIOS INTERNACIONALES DE CREMACIONES, S.A, (INCRESA)
• BLUE TRADING INC.
• CANADAMERICA FINANCE INC.
• CORPORACION KILDA, S.A.
• CORPORACION KAIKARI, S.A.
• INVERSIONISTA SEVILLA, S.A.
• INVERSIONISTA SASAKI S.A.
• INVERSIONISTA CHAROMAR, S.A
• CORPORACION ARANJUEZ S.A.
• CORPORACION ALAMO, S.A.
• SMARTEN INVESTMENT CORP.
• A. REYES, S.A.
• VILZAK CORPORATION.
• VICEREGENT CORPORATION
• PKB CORP.
• EIBA INC.
• PLATO INDUSTRIES INC.
• HUCKSTER CORPORATION.
• AMBERPASS CORPORATION.
• HALO INTERNATIONAL CORP.
• ARAZI CORPORATION.
• ALMENA, S.A.
• ARCOS AMERICAN CORPORATION
• CT &, INC.
• MUSMANNI CORP. INC.
• DEPOSITOS DE PETROLEO, S.A.
• LAUSA CORP.
• UNITED CIRCLE INC.
• VECTOR TELECOM INC.
• ERI & YUKARI INVESTMENT COMPANY S.A.
• MULTI INVESTMENTS S.A.
• ECOLOGIA LATINA, S.A.
• A.C.T. INC.
• MANTENIMIENTO Y LIMPIEZA S.A. (MANTELIM)
• HESHVON, INC.
• CASH TRANSFER DE PANAMA, S.A.
• S.B.T. INC.
• BILMA INTERNACIONAL S.A.
• BANGUI INTERNACIONAL S.A.
• BERBERA INTERNACIONAL S.A.
• RICAMAR INTERNACIONAL S.A.
• BAMBARI INTERNACIONAL S.A.
• GLOBAL CAPITAL INVESTMENTS, INC.
• B.T.& T. INC.
• AFITA INC.
• STRATEGIC MKT CORP.
• SANCEAL CORP.
• SHINYO INVESTMENT S.A.
• CANYON INVESTMENTS INC.
• PLANETEL SHIPIMPEX INC.
• A.M.P. CONSULTING CORP.
• A.L.G. INVESTMENT INC
• INVERSIONISTA ZULEY S.A.
• PTY SYSTEMS, INC.
• PERCOMEX, S.A.
• INVERSIONISTA SOFIA, S.A.
• INVERSIONISTA ZUNI, S.A.
• INVERSIONISTA JOYAMAR, S.A.
• FIRAT OVERSEAS CORPORATION.
• CORPORACION ANIMAS, S.A.
• ALYVIEW CORPORATION,
• INVERSIONISTA SAVONA, S.A.
• NATURIX INC.
• ARKANSAS MINING CORPORATION
• ATWATER CORPORATION
• BAJOS DE LA LOMA, S.A.
• GENERAL MANAGEMENT ASSET GROUP FINANCE, CORP.
• WORLDWIDE CREWING SERVICES INC,
• FOUNTAIN HILL CORPORATION,
• FORBES HILL CORPORATION,
• WARREN OVERSEAS CORP.
• WASHINTON OVERSEAS CORP.
• PARKVILLE INVESTMENTS INC.
• INVERSIONISTA CAROMAR, S.A.
• SISTEMAS Y COMPUTADORES DE PANAMA S.A.
• INVERSIONISTA MONCLOVA, S.A.
• INVERSIONISTA MORELIA, S.A.
• G.I.T. INVESTMENTS, CORP.
• PRINT S S.A.
• FAST INVESTMENT CORP.
• INVERSIONISTA MARIANNA S.A.
• EQUIPMENT DISTRIBUTORS CORPORATION INC.
• F & N INVESTMENTS INC.
• GARMAC, INC., S.A.
• C. P. A. INVESTMENTS INC.
• AGOP TRADING, INC.
• ARGUS POLARIS INTERNATIONAL MORA
• SOUTHAMPTON CORP
• ZAIBATZU CORP
• FAIRFIELD PROPERTIES INC.
• INVERSIONISTA LIMAT, S.A.
• FIRST STAR FINANCE CORPORATION.
• TREMEN FINANCE CORPORATION.
• BLUE STAR CORPORATION.
• INVERSIONISTA LUCERO, S.A.
• CORPORACION VELAMAR, S.A.
• INVERSIONISTA FORTUNA, S.A.
• CORPORACION VICMAR, S.A.
• FAIR STAR FINANCE CORPORATION.
• TWO ISLETS CORPORATION.
• AZALEA HOLDING INC.
• ZZZ INC
• DESARROLLO DEL MAR S.A.
• TGBA CORPORATION.
• SHELLVIEW CORPORATION,
• DUTY FREE PROMOTIONS, CORP.
• YEARWOOD FINANCE CORPORATIPON
• CAVALLI OVERSEAS CORP
• CORPISA INVESTMENTS S.A.
• GILMAR INVESTMENT CORPORATION
• SEBASTIAN0 CORPORATION,
• FAICOURT CORPORATION,
• CANOVA OVERSEAS CORP.
• YIELD FINANCE CORPORATION
• STEFANO CORPORATION,
• SHELLINGTON FINANCE CORPORATION
• PANALEX OVERSEAS CORPORATION.
• ULTREX OVERSEAS CORPORATION
• PANVIEW CORPORATION
• REFRESCOS NACIONALES, S.A.
• ULTRALEX OVERSEAS CORPORATION
• M. T. G. HOLDINGS INCORPORATED.
• CASH INVESTMENT CORPORATION, S.A.
• FAUSTINA CORPORATION
• WATER-WAYS SHIPPING CORP.
• ANNISA TRADING CORP.
• CORPORACION VALIMAR, S.A.
• SPAZIO`S, S.A.
• INVERSIONISTA CARIARI, S.A.
• INVERSIONISTA FLORA, S.A.
• INVERSIONISTA PUEBLA,S.A.
• INVERSIONISTA PASOFINO S.A.
• INVERSIONISTA FLORAZUL S.A.
• CORPORACION GRANADA, S.A.
• SEACORE CORPORATION.
• SEAPLACE CORPORATION.
• NEW HIGH CORPORATION.
• YUMA INVESTMENT CORP.
• LINCOLN OVERSEAS CORPORATION.
• LUBBOCK OVERSEAS CORPORATION.
• SEACRETE CORPORATION.
• T. INTERNATIONAL S.A. (PANAMA) SHIPPING CO.
• ULTRACORP S.A.
• ULTRALEX, S.A.
• INVERSIONISTA VARAMAR, S.A.
• FIDELUZ S.A.
• INVERSIONISTA ZARAGOZA S.A.
• INVERSIONISTA ZARATI S.A.
• THALBERG CORPORATION.
• LONGSEA CORPORATION.
• LEEWAY CORPORATION.
• TARAMAR CORPORATION.
• VINEVIEW CORPORATION.
• VINELODGE CORPORATION.
• FRANKLIN GUARANTEE INVESTMENT COMPANY, INC.
• PHOENIX CAPITAL INC.
• DIVERSIFIED COMMUNICATION SERVICES, INC.
• VALDIVIA EXPLORACION S.A.
• DAL CONSULTING INTERNATIONAL S..A (DAL CONSULTING)
• INVERSIONISTA CLINE, S.A.
• INVERSIONISTA VERAMAR, S.A.
• INVERSIONISTA CENTAURO, S.A.
• INTERGRATED CONSULTING ENGINEERING S,A.
• ASKIN FINANCIAL CORPORATION.
• INVERSIONISTA VENTURA, S.A.
• GATBORO CORPORATION.
• ATLANTIC CONSTRUCTION GROUP INC.
• OPERACION FINANCIERAS INTERNACIONALES, S.A. (OFINSA):
• AVAL CARD INTERNATIONAL INC.
• SMI INTERNATIONAL CORP.
• BANANAS & FRUIT CORPORATION.
• INVERSIONISTAS HINOJOSA, S.A.
• WEST AFRICA MARITIME SERVICES INC.
• SISTEMAS ENERGETICOS, S.A.
• BANOVA, S.A.
• BOCAMAR, S.A.
• FOUR-L, INC.
• BALIFAX CORPORATION
• BRETONCOVE CORPORATION
• BROOKCORNER CORPORATION.
• INVERSIONISTA CLOVIS, S.A.
• INVERSIONISTA CENTENARIO, S.A.
• CORPORACION ACEDO, S.A.
• CORPORACION HINTON, S.A.
• IRONHORSE CORPORATION
• FBS SYSTEMS INC.
• OCEANVIEW HOLDINGS INC.
• ADMINISTRACION FINANCIERA CONTINENTAL S.A. -.-
• CENTRAL COMMUNICATION CORP.
• NORTH SHIELD CORPORATION
• BLU INTERNATIONAL S.A.
• WORLDMARKET TRADING CORP.
• MARJANI CORPORATION
• RAZIYA OVERSEAS INCORPORATED
• CEDRIC FINANCE INC.
• WALLEM INVESTMENTS INC.
• ROYAL IMPERIAL FINANCE CORP
• CORPORACION CONTINENTAL DE BIENES RAICES ,S.A
• BECTEL CORPORATION S.A.
• PUNTO APARTE PUBLICIDAD S.A. -.-
• FINE EXPORTS INC.
• CONSULT - AMERICA, S.A.
• INVERSIONES EL TESON, S.A.
• S A N, INC.
• FONTE CINDAM PANAMA INC.
• GUAYNABO HOLDINGS INC.
• SIM INVESTMENT CORP.
• CONTINENTAL INTERNATIONAL LEASING INC.
• MERCADO DE INVERSIONES, S.A.
• TALLER HOSPICAR, S.A.
• SQUARE HOLDINGS CORP.
• LATIN AMERICA FINANCE CORP.
• PANAMA BROADCASTING SERVICE ,S.A.
• LONEMAR, S.A.
• CUSMAR CORPORATION.
• ACCESS INVESTMENTS CORP.
• RESOURCES INTERNATIONAL INVESTMENTS INC.
• INVERSIONES PUNTA UVA ,S.A.
• KONA ENTERPRISES INC.
• FLAMINGO IMPORTS, INC.
• FARVIEW HOLDINGS CORPORATION.
• METROVENTAS, S.A.
• PARISTOP, INC.
• BONEFRO FINANCIAL, S.A.
• BREFARO INVESTMENT INC.
• SAEKI PLAZA CORP.
• IWASAKI FINANCE CORP.
• PROSPECT STREET FINANCE, INC.
• GREENBERG CAPITOL, CORP.
• COOKE FINANCE, INC.
• SINERGY INVESTMENTS INC.
• MSG INVESTMENTS S.A.
• NAGODA TRADING CORP., S.A.
• CENTRO AUDITIVO TOMATIS, S.A.
• AKIO ELECTRONIC JAPAN LTD .SA
• PANASKA, S.A.
• PRODUCTOS AUTOADHESIVOS S.A.
• HELICOPTEROS DEL ISTMO, S.A.
• INVERSIONES CATAMARAN S.A. (INVERAN S.A.)
• HIGHGROUND INVESTMENTS CORP.
• HIGHRETURNS INVESTMENTS CORP.
• ACME FISHING CORP
• COMPAöIA DE FINANZAS DIRO S.A.
• M.T. V. INTERNATIONAL S.A.
• INTERNATIONAL BUREAU OF EXCHANGE INCORPORATED
• MAY JUNE CORP.
• INTERNATIONAL AMERICAN CARGO, S.A.
• GLOBAL IMPORT & EXPORT INC.
• TROPICAL SEAS IMPORT & EXPORT CO
• CBI INVESTMENTS INC.
• VITRUVIO S.A.
• LA CHOZA DE LUCRE, S.A.,
• MATERIALES OROZCO, S.A.
• BRAZILINTERPART INTERNATIONAL CORP.
• BRAZILINTERPART INTERNATIONAL CORP
• ITACA INTERNATIONAL CORPORATION
• DOMINICAN IMPORT AND EXPORT, INC.
• INVERSIONES TOWER,S.A.
• INVERSIONES OROFIEL S.A.
• GOLDEN FOODS INC.
• INTRINSIC VALUES CORP.
• PROMOCIONES OLIMPICAS Y DEPORTIVAS IBEROAMERICANAS, CORP.(PODIAOLIMPIC),
• ROVIPA, S.A.
• PRIESTLEY CORPORATION
• HAMER FINANCIAL INC.
• BUCKLEY CORPORATION.
• M.M.K.OF NEW YORK LTD. INC.
• SAFARIS OVERSEAS INC.
• PORTAFOLIO OVERSEAS CORP.
• COORS INVESTMENT CORP. -.--
• SHEBOYGAN CORPORATION
• MORTON INC.
• PALMARSOL, S.A.
• GRUPO DETER S.A.
• COMPANIA DE INVERSIONES VELAIR, S.A.
• COMPANIA DE INVERSIONES OLD STAR, S.A.
• NINER CORPORATION
• DESDEMONA FINANCIAL CORP.
• AIRPAK FINANCIAL CORP. (AIFCO)
• INVERSIONES PRIMOROSAS, S.A.
• CORPORACION FINANCIERA MAYA, S.A.
• INVERSIONES PINO AZUL, S.A.
• OLDTREE CORP.
• QUENTIN INTERNATIONAL CORP.
• ROLAND OVERSEAS INC.
• ELSINOR CORPORATION
• DOWAGER ENTERPRISES INC.
• CORPORACION PENORA, S.A.
• CORPORACION POMEDA, S.A.
• DELAIN FINANCIAL SERVICES CORP.
• INVERSIONES CHANGUI, S.A.
• ALEWAY HOLDING INC.
• COMPANIA AMOLY,S.A.
• L.C.TRADING INC.
• SILVER BULLET HOLDINGS INC.
• BROWSON ENTERPRISE CORP.
• GARLDAND TRADING SECURITIES INC.
• VIEWMORE CORPORATION
• RIVERSIDE VIEW INC.
• BIENES RAICES SANTA FE, S.A.
• MONTERO SOCIEDAD DE INVERSIONES, S.A.
• CROKER HOLDING INC.
• TRAMITES Y COBROS, S.A.
• LIMAN CORP
• MASWAL HOLDING INC.
• DESARROLLO EL VALLE, S.A.
• DOUBLE BAY I985, INC.
• JAMER INVESTMENT CORP.
• SIR JONATHAN INVESTMENT CORP.
• KENDOR CORP.
• AMERICAN DOMINION CORP.
• CORPORACION NANZAL, S.A.
• CORPORACION VIANEY, S.A.
• AMERICAN FOREIGN CURRENCY & FINANCIAL SERVICES CORPORATION (AFCORP)
• SERVICENTRO VILLA DE LAS FUENTES, S.A.
• METROPOLITAN INVESTMENTS CORPORATION INC. (METROCORP)
• A.L.INVESTMENTS, INC.
• ILAN, S.A.
• NEGOCIOS DE CAMBIO, S.A.
• FINANCIERA Y VALORES CORPORATIVOS, INC. (FINCORP)
• MEBLAB-PHARMACIA INTERNATIONAL INC.
• CORPORACION MUNDIAL DE CORRETAJES, S.A.
• URRACA HOLDING COMPANY INC.
• SANBRITCRHY, S.A.
• ADMINISTRACION VACAMONTE, S.A.
• ROTULOS Y VALLAS, S.A. (ROVASA).
• LIBRADA INTERNATIONAL,S.A.
• OVERSEAS UNION CREDIT AND FINANCE CO. S.A. (OUC&FSA;)
• STATUS S.A.
• PESCADO DEL GOLFO S.A.
• STAR WAY S.A.
• MONACO GROUP FUND, S.A.
• PAN-ASIAN TRADE EXPORT, S.A.
• MEGA SEAFOOD TRADERS, INC.
• SEGUROS DEL MAR, S.A.
• GEORGIA TRANSWORLD INC.
• CHARENTE ENTERPRISES INC.
• INVERSIONES MALTA, S.A.
• ADMINISTRADORA PALO ALTO, S.A.
• DOMAR INVESTMENTS, S.A.
• APOLSI INVESTMENTS, INC
• G.H.S. INTERNATIONAL, INC.
• INMOBILIARIA HATO PINTADO, S.A.
• LUBRICANTES DELTA S.A.
• TAIS PARFUMS, S.A.
• EMPRESA FILATELICA Y NUMISMATICA, S.A.
• L.K. INVESTMENTS, INC.
• DISTRIBUIDORA L. M. , S. A.
• ALEXANDRA DE FRANCIA, S. A.
• CHIQUILINAS INVESTMENT CORP.
• CHALLENGER TRAVELING SERVICES INC.
• CASEL REALTY INVESTMENTS CORPORATION.
• PETROFINANCIERA, S.A.
• PRECIOUS METALS-WORLDWIDE, INC.
• VENAM, S.A.
• INVERSIONES OLANI, S.A.
• MEREDOSIA INVESTMENT, S.A.
• PANAMEöA DE PETROLEO, S.A. -.-
• SOCIEDAD URBANIZADORA DE LAS PERLAS, S.A.
• INMOBILIARIA ESCAZU, S.A.
• INVESTMENTS RESORTS INTERNATIONAL, INC.
• AIRFAIR, INC
• INVERSIONES TISMA, S.A.
• STRATHSPEY CORPORATION
• GUABRO INCORPORATED.
• DELOTAJO CORPORATION
• KASHAMIN FINANCIAL SERVICES INC.
• JUEGOS CIENTIFICOS DE EL SALVADOR, S.A.
• JUEGOS CIENTIFICOS DE HONDURAS, S.A.
• JUEGOS CIENIFICOS DE GUATEMALA, S.A.
• GRENH SECURITIES CORP.
• ELLENDER OVERSEAS CORP.
• G.E.C. PANAMA INC.
• LIBERTY PEAK CORP.
• GRAYSHORE INVESTMENTS CORP.
• COLVILLE HOLDING INVESTMENTS INC.
• KOOSKIA CORPORATION,
• OAK HARBOR OVERSEAS INC.
• RED OWL INVESTMENTS CORP.
• ELDEREW HOLDING CORP.
• SPORTSWEAR GROUP INC.
• H. T. S. INC.
• ABADDON INVESTMENTS INC.
• ROSEBURG INVESTMENTS INC.
• JORDAL CORPORATION.
• KEOS CORPORATION.
• TAROL CORPORATION
• GADAN CORPORATION.
• OLIVE BIRCH CORP.
• INVERSIONES JOMAFI, S.A.
• ARRENDADORA DEL ISTMO, S.A.

Agent

• CHIQUILINAS INVESTMENT CORP.