TEAKECUADORIAN

IDIOMA:

Río Congo 2003

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General Information

Company:	Río Congo
Sector:	Forestry
Product:	Teak
Location:	Provincia del Guayas, Cantón Balzar 20 Km al norte de la Cabecera Cantonal y 5 Km al oeste de la carretera Balzar - El Empalme

Plantation Data

Property surface:	148 ha.
Planted surface:	125 ha.
Sowing distribution:	1.5 ha year 1997, 1.5 ha year 1999, 19.0 ha year 2001, 19.0 ha year 2002, 84.0 ha year 2003

Public Offering

Placement:	Secondary Public Offering
Number of shares:	90,000 shares
Placement price:	US $12.00 per share
Profitability:	15% annual *
Profitability perception:	At plantation’s cut down.
Estimated cut down age:	20 years after sowing.

Entities of Management and Support

Financial and Administrative Management:	SIEMBRA (Integrated System of Companies Based in Environmental Resources)
Attorney at Law:	Pandzic & Asociados
Accounting and Taxes:	Auditing & Taxes
Audit:	Deloitte & Touche
Marketing:	FreeMarket S.A.
Stock Placement:	Albion Casa de Valores S.A
Insurance Company:	Seguros Sucre
Forest Seed:	CATIE (Tropical Agronomic Center of Investigation and Education, Costa Rica)

* Calculation of return is based on the projected growth of wood, on conservative estimates of prices, costs and expenses. The project involves accumulating all the necessary resources for the maintenance until the cutting, from the beginning of the operation. The company does not expect the existence of financial liabilities.

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