CNMV WARNS THE PUBLIC ON UNREGISTERED FIRM

Pursuant to the second paragraph of Article 13 of Law 24/1988, July 28th, the Securities Market
Act, the Comisión Nacional del Mercado de Valores advises that:

CISA MANAGEMENT, S.L.

Commercial name:

CISA, S.L., CORPORATE INVESTMENT SERVICES

C.I.F.: B- 63734974
Domiciles: Calle Balmes, nº 152, 3º, 2ª
08080 BARCELONA
Marqués de Barberá, nº 7
08001 BARCELONA
Web page: www.cisasl.org

Is not authorised to provide the investment services

detailed in paragraph 1 and letters
a) and c) of paragraph 2 of Article 63 of the Spanish Securities Market Act, in relation to the
financial instruments detailed in paragraph 4 of the said Article, including, to such effects,
transactions on foreign currency.

To date, the above mentioned company seems to be targeting non-resident citizens.
Additionally, the CNMV warns that the following persons and entities are business-related to
the referred company:

CARLOS VEZ DE BÚFALA

CORNHILL MANAGEMENT, S.L.

(www.cornhillmanagementsl.com).

For any query, please contact the Comisión Nacional del Mercado de Valores
enquiry line at 902 149 200 or visit the CNMV’s web site

(www.cnmv.es)

Oprettet d. 23.07.2003 og sidst redigeret d. 16.05.2007

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