Directors

Neil Arthur Bleasdale (Chairman)
Neil is the Vice Chairman of EDEMSA. He is a businessman and holds a B.A. (with honours) from the University of Leeds, England. He also acts as a non-executive director of Chatham S.A., Supercanal Holding S.A., Supercanal Internacional S.A., Supercanal S.A., Comunicaciones Austral S.A., DTH S.A., Grupo Vitivinícola de Tupungato S.A., Televisora del Oeste S.A., MSO Supercanal S.A., BTC S.A., Jorge Estornell S.A., and an alternate director of Primera Fila S.A.

Luis Enrique Alvarez Poli Petrungaro (Chief Executive Officer)
Luis graduated as a Certified Public Accountant and Corporate Administrator from the Universidad Católica Argentina in Buenos Aires. He also has a postgraduate MBA from the Instituto de Altos Estudios Empresariales IAE. Luis has 15 years of experience in capital markets, investor relations and financial restructuring. He was previously a financial director and manager in, among others, Transportadora de Gas del Sur and Petrobras (formerly Perez Companc) and has also worked for Banco Macro in the capital markets department.

Nigel John Duxbury (Chief Financial Officer)
Nigel has extensive experience both as a finance director and senior executive in small and large quoted and unquoted companies within Europe, Asia and the USA. He has a background in finance and accountancy, having qualified as a chartered accountant with Touche Ross, London. He is currently a director of a number of AIM quoted companies.

Marcelo Alberto Comba (Non-executive Director)
Marcelo graduated as a solicitor from the University of Buenos Aires in 1988 and became a Master in Business Law in 1994. After working in the legal departments of Siemens S.A. and Ferrovials SAC, he has worked since 2002 as a Partner in the law firm of Aidar Bestene-Garcia Moreno & Associates. In 2004 he also became President of HASA.

Ricardo Nicolás Mallo Huergo (Non-executive Director)
Nicolas graduated from the Universidad Católica Argentina in 1993 with a law degree, and obtained a Master in Law (LLM.) with honours at Northwestern University School of Law, Chicago, U.S.A, in 1999. He has been and is a director of a number of local and foreign companies. Previously, he practised as a lawyer in the firm Marval, O'Farrell & Mairal.

Keith Robert Wills (Non-executive Director)
Keith was a stockbroker for 30 years. He was Head of the European Retail Team at Goldman Sachs where he spent 15 years of his career and became Managing Director. Since leaving Goldman Sachs in 2004 he has worked as an independent consultant.

Corporate Goverance

The Directors are committed to maintaining high standards of corporate governance, so far as is practicable given the Company's size and nature, to comply with the Combined Code.

The Directors will implement such corporate governance procedures and establish such committees of the Board as are required for it to comply with the terms of the Combined Code following any significant site acquisition by the Company.

The Company has adopted the Share Dealing Code for the Directors and senior employees and procedures are in place to ensure compliance by the Directors and any relevant employees with the terms of this code.

The Directors have established financial controls and reporting procedures that are considered appropriate given the size of and structure of the Company. These controls will be reviewed and amended as appropriate and necessary.

Remuneration Committee

The remuneration committee consists of Keith Wills, Marcelo Comba and Ricardo Nicolas Mallo Huergo and is chaired by Keith Wills. The remuneration committee will review the performance of the executive directors and will set and review the scale and structure of their remuneration and the terms of their service agreements with due regard to the interests of Shareholders.

Audit Committee

The audit committee consists of Keith Wills, Marcelo Comba and Nicolas Mallo Huergo and is chaired by Keith Wills. The audit committee will be responsible for ensuring that the financial performance of the Company is properly reported on and monitored and for meeting the auditors and reviewing the reports from the auditors relating to accounts and internal control systems. It will meet at least once a year with the auditors without executive board members present.

Nominations Committee

The nominations committee consists of Keith Wills and Marcelo Comba and is chaired by Marcelo Comba. The nominations committee will meet as required for the purpose of considering new or replacement appointments to the Board.

Company Secretary and Registered Office
Nigel John Duxbury
3rd Floor
16 Dover St
London
W1S 4LR