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Inabensa informs the public

In relation to articles that have recently been published in the press regarding the awarding of the Project entitled “Electricity Supply System for the city of San José” of Costa Rica (“the Project”) to Instalaciones Inabensa S.A., we hereby wish to inform of the following:

1. Instalaciones Inabensa S.A. has not, nor ever has had either directly or indirectly, throughout its vast industrial and commercial experience, anything to do with payments made to government officials or civil servants to facilitate the possible awarding of tendered for projects, nor specifically with the National Power and Lighting Company and the Costa Rican Electricity Institute.
2. Instalaciones Inabensa S.A., a company that operates in over thirty countries, has never been involved in any type of irregular or illegal activity, and its excellent technical and industrial activities are endorsed by the satisfaction of its customers and providers.
3. Instalaciones Inabensa S.A. participated in the Call for Bids for the Project and presented its bid on October 31, 2000 and therefore complied with all the requirements specified in the afore-mentioned Call for Bids from the National Power and Lighting Company.
4. The Project was awarded to Instalaciones Inabensa S.A. at the meeting the Board of Directors of the National Power and Lighting Company held on January 8, 2001 and was ratified on October 24, 2001. The second bidder offered a price that was considerably higher than that offered by Instalaciones Inabensa S.A.
5. Instalaciones Inabensa S.A. (together with its associated companies) focuses its activity on the design engineering, construction and maintenance of electrical, mechanical and instrumentation infrastructures for the Energy, Industry, Transport and Services sectors. Moreover, its activity also includes the promotion, construction and operation of industrial plants and conventional power plants (cogeneration and combined cycle), renewable energies (bioethanol, biomass, wind, solar and geothermal) and turnkey telecommunications networks and projects. It has a vast customer-endorsed experience in the execution of projects on the national and international markets.
6. Instalaciones Inabensa S.A., as it informed the National Power and Lighting Company on September 14 and 20, 2004, received collaboration, in the preparation of the afore-mentioned Bid and for the execution of the Project, from certain advisors of a different nature, as is customary and necessary for the correct development of a Project, of a legal, fiscal, technical and commercial nature.
7. Instalaciones Inabensa S.A. has a representation and commercial advisory contract signed with the company Aurex Inc., which has widespread knowledge of the national and international markets, and whose rendered services have included collaboration in the elaboration of the technical-commercial bid, the assessment and management of the Project’s FAD funding, relationships with providers, subcontractors and, in general, other service providing companies in Costa Rica. In virtue of this contract, Instalaciones Inabensa S.A. has paid the aforesaid advisor the fees established in the afore-mentioned contract, in relation to the services it provided during the tendering phase, the setting up of Instalaciones Inabensa S.A. in Costa Rica and in the development of the Project. Each and every one of these payments is duly backed by the corresponding invoice and duly entered in the accounts books of Instalaciones Inabensa S.A.
8. The Electricity Supply project for the city of San José of Costa Rica has been prepared and documented by Instalaciones Inabensa S.A. in strict observance of the laws in force, in both Costa Rica and Spain, using in-house duly posted resources, endorsed by the corresponding invoices and contracts.
9. Likewise, the profound knowledge of the electrical sector of Costa Rica acquired by Instalaciones Inabensa S.A. during the execution of the Project has enabled it to gain an advantage over other competing companies, which has enabled it to be awarded further projects that are currently being executed to the entire satisfaction of both the National Power and Lighting Company and the Costa Rican Electricity Institute.

Eduardo Duque García
General Manager
Instalaciones Inabensa S.A