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CLARIFICATION

octubre 17, 2011

CLARIFICATION

In response to articles published in which the company PALMAT International is being mentioned as an intermediary for businesses conducted in Venezuela, Alvaro Lowenthal and Juan de Dios Santucci make clear that:

PALMAT S.A. Argentina, presided by Alvaro Lowenthal, was founded in 1967, has been inactive since 2001.

PALMAT USA LLC NYC, used for transactions with pre-frozen food from Argentina has been inactive since 2004.

We would also like to make clear that we have no partnership relation with the corporations mentioned in newspapers: PALMAT International, PALMAT Caracas and PALMAT Intertrade Panama.

The right of use for the PALMAT name and brand was acquired by PALMAT C.A. Caracas in 1977.

                      Alvaro Lowenthal                                    Juan de Dios Santucci

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