EXECUTIVE SUMARY

1. EXECUTIVE SUMARY The integrated development of the Peruvian Scallop Shell (Agropecten Purpuratus) in a concession of 650.38 ha, near the bay of Sechura in Piura. PROJECT 300 Ha (12 months); 350 Ha (14 monthss); Hatchery (Larvae development laboratory) and Processing and Conservation Plant (transforming the product for exportation). STAGES Long Line suspension system (modules of 100 Ha; 25 Ha / month) CHARACTERISTICS Integrated development of the Peruvian scallop shell: (larvae development, crop management, final product , harvest, laboratory and processing plant).

2. EXECUTIVE SUMARY Total Investment: US$15.5 MM, (US$ 6.8 MM equity and US$ 8.7 MM debt). INVESTMENT Preliminary structure to discuss: (i)Promoter: US$ 2.8 MM; (ii)Particular Shareholder: US$ 1.0 MM; (iii)Investor: US$ 3.0 MM; (iv) Debt: US$ 8.7 MM (Investment+W.C)/ for 100 Has: US$ 1.6 millons Income / 100Has: US$ 2.050 millons PROJECTIONS Price Range / Kgrs: US$ 10.0 – US$13.5 Productivity: 170,760 / 100 Has

3. EXECUTIVE SUMARY TIR Financiero: 39% PROJECT PROFITABILITY TIR Económico: 30% By eliminating the tail (2.5%) of the worst scenario and the tip (2.5%) of the best scenario, we established the performance of the Project at 95% of certainty value. This profitability contemplates a new financing structure define by COFIDE (Corporacion Financiera de Desarrollo), identify in the executive summary.

4. TECHNIFIED PERUVIAN SCALLOP SHELL FARMING PROJECT

5. LOCATION OF MARINE AREAS

6. AREA GRANTS/FRANCHISE AREAS GEOGRAPHICAL COORDINATES: • Vertex Latitude South Longitude West • A 05º30´21.222” 80º59´47.090” • B 05º30´05.096” 80º58´38.519” • C 05º30´53.495” 80º58´38.517” • D 05º30´53.496” 80º59´47.090” 261.312 Hec. • A 05º30´56.753” 81º00´26.894” • B 05º30´56.753” 80º59´50.340” • C 05º31´54.833” 80º59´50.340” • D 05º31´54.833” 80º00´26.895” 200.621 Hec.

7. AREA GRANTS/FRANCHISE AREAS GEOGRAFICAL COORDINATES: • Vertex Latitude South Longitude West • A 05º30´30.582” 81º00´26.894” • B 05º30´21.987” 80º59´50.341” • C 05º30´53.496” 80º59´50.340” • D 05º30´53.496” 81º00´26.894” 93.972 Hec. • A 05º31´58.090” 81º00´26.895” • B 05º31´58.090” 81º00´10.243” • C 05º32´58.436” 81º00´10.243” • D 05º32´58.436” 81º00´26.896” 94.93 Hec.

8. NATURAL METHOD FOR HARVESTING THE SEED

9. TECHNICAL SYSTEM FOR FATTENING THE SHELL(LONG LINE)

10. MISSION To become the leader in sustinable developoment of Acuaculture activity, in marine water, continental water and/or brackish water. Contributing to the development of the country by means of generating greater sources of food materials, increased employment and better living conditions for the population in the areas where the projects have their influence/presence. VISION To become the reference point and leader in the development of Acuaculture activities, through the use of new technologies, improvement of processes and efficiency that guarantees our existence in the course of time. Contributing to generate new opportunities of investment and work on our renewable resources (within a framework of sustainable development).

11. DESCRIPTION OF PROJECT“ARGOPECTEN PURPURATUS” First Stage • Integral cultivation of the scallop shell by means of a "Long Line“ hanging system; consists of the following stages: • This phase includes the development of an extension of approximately 300 Hectares • Collecting of larvae by means of collectors and laboratory acquisition of larvae. • Initial Cultivation of Pearl Nets. • Intermediate cultivation using small and big lantern net-cages • Final Cultivation using lantern net cages • Harvesting

12. DESCRIPTION OF PROJECT“ARGOPECTEN PURPURATUS” Second Stage • Development of the remaining 350 Hec. • Implementation of a laboratory or Hatchery and a Processing Plant.

13. PROCESS IN THE OCEAN

14. POST HARVEST PROCESS

15. LEGAL FRAMEWORK ACUACULTURE PROMOTION AND DEVELOPMENT LAWLAW No. 27460 OBJECTIVE To regulate and promote acuaculture activity in marine waters, continental waters or using brackish waters, as a source of alimentation, employment and income, optimizing the economic benefits in harmony with the environmental preservation and conservation of biodiversity. Scope of application – natural and legal persons/entities who develop acuaculture activities. AREA GRANTS/FRANCHISE AREAS: Franchise area rights are granted for a period of 30 years, renewable for equal periods of time and over the effectively worked up areas.

16. LEGAL FRAMEWORKACUACULTURE PROMOTION AND DEVELOPMENT LAWLAW No. 27460 Labour Rules Labour benefits as per articles No. 7 and 10 of Law No. 27360 – Agricultural Sector Promotion Law - will be applicable to acuaculture producers. Tax benefits. As applicable to acuaculture activity vide paragraph 4.1 of Article No.4, Article No.5 and 8 of Law No. 27360 – Agricultural Sector Promotion Law (Tax policy – Income tax of 15% for 10 years. Drawback of 5% of FOB Invoice value).

17. WORLDWIDE FISH PRODUCTION

18. PROJECTION UPTO 2025

19. Scallop Shell Producing countries % 20 Major Exporting Countries % Major Scallop Shell Importing countries China 47.35 China 33.42 % Japan 29.28 Canada 12.93 EEUU 28.28 USA 9.51 Argentina 8.71 France 21.40 Canada 4.81 United Kingdom 7.30 Spain 9.17 Argentina 2.58 Japan 7.01 EEUU 6.27 United Kingdom 1.5 Italia 5.10 Japan 6.02 France 1.21 Canada 3.82 Denmark 4.87 Republic of Korea 2.80 Chile 0.79 France 4.61 Hong Kong 2.68 Peru 0.68 Chile 3.20 Australia 2.42 México 0.50 Italia 2.30 Belgium 2.17 Russia 0.48 Russia 2.05 Denmark 2.04 Australia 0.29 Australia 1.79 China 1.91 Iceland 0.26 Peru 1.41 Taiwan 1.15 New Zealand 0.23 Singapore 1.15 México 1.15 Isle of Man 0.13 Germany 1.15 Belgium 1.15 Greenland 0.12 Holland 0.64 Iceland 0.77 Ireland 0.06 Switzerland 0.38 Greenland 0.64 Norway 0.04 United Kingdom 0.38 Ireland 0.64 Thailand 0.03 Sweden 0.38 New Zealand 0.38 Indonesia 0.02 Malaysia 0.38 Netherlands 0.38 Rest 0.13 Rest 5.61 100 100 Total Total 100 Total DISTRIBUTION OF WORLD MARKET IN VOLUME

20. PERUVIAN EXPORTS Scallop Exports

21. PRICE PER TON IN US$ FROM 1990 TO 2006

22. ITEMS NO. OF UNITS PRICE PER UNIT US$ TOTAL US$ 25 Hec 50 Hec 75 Hec 100 Hec TOTAL Lines - cabos 3 *Has 55.00 13.80 13.80 13.80 13.80 55.00 Net cage Lanterns 300 *Has 13.00 390.00 97.50 97.50 97.50 97.50 390.00 Trimaran – boat with 3 pieces 1 25.00 25.00 25.00 25.00 Boats 3 8.00 24.00 8.00 8.00 8.00 8.00 24.00 Buoy 30 mm 34000 4.00 136.00 34.00 34.00 34.00 34.00 136.00 Buoy 37 mm 1470.0 7.20 10.58 2.70 2.70 2.70 2.70 10.80 SLP36G+M+G 1 60.00 60.00 60.00 60.00 Various Equipmentt 6.50 6.50 6.50 Others 25.00 25.00 25.00 Craft of 19" 1 20.00 20.00 20.00 20.00 Sieve 2 7.50 15.00 7.50 7.50 7.50 15.00 Total US$ 793.10 300.00 163.50 156.00 163.50 782.80 IGV 19% 150.70 57.00 31.10 29.60 31.10 148.70 TOTAL INVESTMENT IN US$ 931.50 356.90 194.50 185.60 194.50 931.50 * ALL FIGURES IN THOUSANDS OF US DOLLARS INVESTMENTS

24. EVALUATION OF VOLATILITY WITH 95% DEGREE OF CERTAINTY

25. REFERENCES • RICARDO GORDILLO URIBE • ADDRESS : Manuel A. Fuentes 849 - San isidro. Lima - Perú • TELEPHONE : (511) 440 3591 / (551) 513 8107 • MOBILE : (511) 9595 5809 • E-MAIL : rgordillo@infonegocio.net.pe rgordillo@mibanco.com.pe • RICARDO GORDILLO CORNO • ADDRESS : Manuel A. Fuentes 849 - San isidro. Lima - Perú • MOBILE : (511) 9580 5045 • E-MAIL : ricardo.gordillo@gmail.com