MIRA INFORM REPORT

Report Date :

25.09.2007

IDENTIFICATION DETAILS

Name :	COMERCIAL IMPORTAÇÃO E EXPORTAÇÃO LA RIOJA LTDA.

Registered Office :	Rua Cantareira, 719 – Mercado, 01024-100 São Paulo / SP

Country :	Brazil

Date of Incorporation :	July 01, 2002

Com. Reg. No.:	35.217.685.250

Legal Form :	Private Limited Company

Line of Business :	Trade wholesaler of nutritious

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

Company name

COMERCIAL IMPORTAÇÃO E EXPORTAÇÃO LA RIOJA LTDA.

Trade Name

LA RIOJA

Address

Rua Cantareira, 719 - Mercado

01024-100 São Paulo / SP

Tele/Fax: (55-11) 3328 0000 / 3313 7756

E-mail: monicalarioja@com.br

arthur@larioja.com.br

Web Site: www.larioja.com.br

Legal information

Legal Status: Private Limited Company

Incorporation date: July 01, 2002

Tax contributor (CNPJ): 05.222.234/0001-05

Registered capital: R$3.000.000,00

State Registration #: 116.430.083.116

Municipal Registration#: 3.387.422-0

Number of employees: 432

Branches: 04

History

Established on July 01, 2002, chartered at the State Commerce Registration Office of São Paulo (JUCESP) under # 35.217.685.250, into the present registered name.

The Grupo La Rioja began in the forties, when the patriarch Salvador González Rodriguez began your activities with a Newsstand of Green vegetables in the Central Market of São Paulo, marketing côco, onion and vegetables.

Partnership / Management: (joined 07/2002)

Rodrigo Simonini Gonzales - 50,0%

Brazilian, Married, CPF: 127.052.958-79

Rosa Ignez Simonini Gonzales - 50,0%

Brazilian, CPF.: 127.052.938-25

Properties

Others properties:

Machines R$4.581.0000,00

Computers R$ 216.000,00

Vehicles R$1.813.200,00

Registered line of business:

Trade wholesaler of nutritious

Main Products:

Cod, Olives, dried fruits, Drinks, Cheeses, Preserves

Import countries:

Argentina, Spain, Italy, Turkey, India, Arab Emirates, Mexico, Holland, Vietnam, USA, China, Portugal,Syria, Denmark

Export countries:

Argentina, Spain, Italy, Turkey, India, Arab Emirates, Mexico, Holland, Vietnam, USA, China, Portugal, Syria, Denmark

Related Companies

Stock Participation:

RUBBER DO BRASIL COM. IMPORTAÇÃO E EXP.LTDA. - CNPJ: 05.694.186/0001-40

- Rodrigo Simonini Gonzales - 80,0%

MALBEC DO BRASIL COML.IMPORTADORA E EXPORT. - CNPJ:04.387.661/0001-72- Rodrigo Simonini Gonzales - 95,0%

- Rosa Ignez Simonini Gonzales - 5,0%

LA RIOJA COM. IMPORTAÇÃO, EXPORTAÇÃO LTDA. - CNPJ: 64.111.735/0001-75

- Rodrigo Simonini Gonzales - 80,0%

ISSA MOTORS COM. DE VEÍCULOS E PEÇAS LTDA. - CNPJ: 04.741.470/0001-67

- Rodrigo Simonini Gonzales - 50,0%

- Rosa Ignez Simonini Gonzales - 50,0%

ISSA ANALIA FRANCO COM.DE VEÍCULOS E PEÇAS - CNPJ: 05.292.518/0001-60

- Rodrigo Simonini Gonzales - 50,0%

- Rosa Ignez Simonini Gonzales - 50,0%

Financial Data

According to the Brazilian Law Private Limited Companies are not obliged to file financial accounts for public inspection.

It was not possible to find out financial statement through outside sources consulted.

Information completary:

Monthly revenue in real R$3.875.000,00

(Dollar rate US$1.00 = R$1,862 on 21/09/2007).

Remark: The company made option for the Regime of Conceited Profit, carrying was spared of the emission of the balance sheet and accounting demonstrations.

Banking

Banco Unibanco S/A branch 0111 - São Paulo/SP

Banco Sudameris S/A branch 1655 - São Paulo/SP

Remark : banking comments could not be obtained due to legal restrictions from the Brazilian Law.

No returned cheques were foundeither in the name of the company or partners.

Insurance

Not informed.

Public Trade Payment

84 Invoices:

Information on purchases:

Aug/2007 Last: R$1.068 Average: R$15.905

Information on invoicing:

MAR/2007 Highest: R$144.000 Average: R$21.947

Information on accumulation:

APR/2007 Highest: R$246.300 Average: R$31.841

94% - Prompt payments

02% - Delays from 08 up to 15 days

04% - Delays from 31 up to 60 days

Trade References

Main Suppliers - Brasil:

JTC Distribuidora Ltda.

Mad Product Distribuidora Ltda.

Importadora de Frutas La Violetera Ltda.

Porto de Mar Com. De Gêneros Alimentícios Ltda.

Cefri Armazenagem Frigorificada e Agroindústria Ltda.

Main Suppliers - Exterior:

West-Norway - Denmark

Peter Skarbovig A/S - Denmark

Brodrene Sperre - Denmark

Caves Aliança - Portugal

Aceites Del Sur S/A - Spain

Brasita - Italy

Agro Aceitunera - Argentina

Transco Food - Canada

Zafco Trading - China

Hojas Export Ltda - Chile

Main clients:

Grupo Fatura

Empório Chiapetta

Rebela Comercial Exp.

Condor Supercenter

JK Com.Gen.Alimentícios

DMA Comercial

BM Comercial Ltda

Assai Comercial Imp.Ltda

Sonda Hipermercados

Pão de Açúcar Hipermercados

Public Records Information

Negative information was found:

01 protested bills,

Juny 19, 2007 – R$4.856,31 - Mairinque/SP

01 Executive Lawsuit. On December 18, 2006, in the city of São Paulo/SP

Remarks

The information in this report were obtained outside sources and public records consulted.

Final Opinion

Based on overall information, the company can be considered normal for business dealings at usual trade terms and conditions.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions