MIRA INFORM REPORT

Report Date :

27.02.2013

IDENTIFICATION DETAILS

Name :	Gruppo Coin Societa' Per Azioni (due to merger)

Registered Office :	Via Terraglio, 17 Mestre, 30100 – Venezia (VE)

Country :	Italy

Financials (as on) :	31.01.2012

Date of Incorporation :	01.07.1999

Com. Reg. No.:	VE-1999-51125

Legal Form :	Joint stock company with sole shareholder

Line of Business :	Department stores

No. of Employees :	more than 1500

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 :	Merged

Payment Behaviour :	No Complaints

Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Italy

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

ITALY - ECONOMIC OVERVIEW

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but exceptionally high public debt burdens and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, reaching 120% of GDP in 2011, and borrowing costs on sovereign government debt have risen to record levels. During the second half of 2011 the government passed a series of three austerity packages to balance its budget by 2013 and decrease its public debt burden. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to address Italy's long-standing structural impediments to growth, such as an inflexible labor market and widespread tax evasion. The international financial crisis worsened conditions in Italy''s labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but in the longer-term Italy''s low fertility rate and quota-driven immigration policies will increasingly strain its economy. The euro-zone crisis along with Italian austerity measures have reduced exports and domestic demand, slowing Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level.

Source : CIA

Company name & address

Oviesse Societa' Per Azioni

Via Terraglio, 17 Mestre

30100 - Venezia (VE) -IT-

Summary

Fiscal Code	:	03147990273
Legal Form	:	Joint stock company with sole shareholder
start of Activities	:	01/01/2005
Equity	:	Over 2.582.254
Turnover Range	:	over 129.114.224
Number of Employees	:	more than 1500
Group	:	Gruppo COIN
Firm's Status	:	Merged

Activity

Department stores

Retail sale of games and toys in specialised stores

Retail sale of clothing in specialised stores

Retail sale of ladies and menswear

Retail sale of newborn and childrenswear

Legal Data

Legal Form : Joint stock company with sole shareholder

Fiscal Code : 03147990273

Foreign Trade Reg. no. : VE035203 since 21/02/2005

Chamber of Commerce no. : 179461 of since 11/01/2005

Chamber of Commerce no. : 223423 of

Chamber of Commerce no. : 171235 of

Chamber of Commerce no. : 65693 of

Chamber of Commerce no. : 176750 of

Chamber of Commerce no. : 109930 of

Chamber of Commerce no. : 141921 of

Chamber of Commerce no. : 112362 of

Chamber of Commerce no. : 158101 of

Chamber of Commerce no. : 471954 of

Chamber of Commerce no. : 356759 of

Chamber of Commerce no. : 182963 of

Chamber of Commerce no. : 89081 of

Chamber of Commerce no. : 120153 of

Chamber of Commerce no. : 445830 of

Chamber of Commerce no. : 119195 of

Chamber of Commerce no. : 463755 of

Chamber of Commerce no. : 178455 of

Chamber of Commerce no. : 234606 of

Chamber of Commerce no. : 115522 of

Chamber of Commerce no. : 220243 of

Chamber of Commerce no. : 160646 of

Chamber of Commerce no. : 102907 of

Chamber of Commerce no. : 256278 of

Chamber of Commerce no. : 283086 of

Chamber of Commerce no. : 163690 of

Chamber of Commerce no. : 186001 of

Chamber of Commerce no. : 293052 of

Chamber of Commerce no. : 173944 of

Chamber of Commerce no. : 185992 of

Chamber of Commerce no. : 241753 of

Chamber of Commerce no. : 555737 of

Chamber of Commerce no. : 176750 of

Chamber of Commerce no. : 302675 of

Chamber of Commerce no. : 149935 of

Chamber of Commerce no. : 417533 of

Chamber of Commerce no. : 68103 of

Chamber of Commerce no. : 115385 of

Chamber of Commerce no. : 121799 of

Chamber of Commerce no. : 37969 of

Chamber of Commerce no. : 301172 of

Chamber of Commerce no. : 259035 of

Chamber of Commerce no. : 131729 of

Chamber of Commerce no. : 1457173 of

Chamber of Commerce no. : 156731 of

Chamber of Commerce no. : 211417 of

Chamber of Commerce no. : 1767903 of

Chamber of Commerce no. : 161444 of

Chamber of Commerce no. : 193492 of

Chamber of Commerce no. : 1767903 of

Chamber of Commerce no. : 224628 of

Chamber of Commerce no. : 346308 of

Chamber of Commerce no. : 113811 of

Chamber of Commerce no. : 73494 of

Chamber of Commerce no. : 725752 of

Chamber of Commerce no. : 220708 of

Chamber of Commerce no. : 89138 of

Chamber of Commerce no. : 252699 of

Chamber of Commerce no. : 161289 of

Chamber of Commerce no. : 352719 of

Chamber of Commerce no. : 125336 of

Chamber of Commerce no. : 240596 of since 17/01/2005

Chamber of Commerce no. : 156573 of

Chamber of Commerce no. : 90024 of

Chamber of Commerce no. : 513835 of

Chamber of Commerce no. : 230269 of

Chamber of Commerce no. : 162493 of

Chamber of Commerce no. : 159070 of

Chamber of Commerce no. : 245510 of

Chamber of Commerce no. : 130543 of

Chamber of Commerce no. : 192651 of

Chamber of Commerce no. : 162377 of

Chamber of Commerce no. : 255433 of

Chamber of Commerce no. : 109417 of

Chamber of Commerce no. : 58930 of

Chamber of Commerce no. : 1087459 of

Chamber of Commerce no. : 294744 of

Chamber of Commerce no. : 141479 of

Chamber of Commerce no. : 351826 of

Chamber of Commerce no. : 124257 of

Chamber of Commerce no. : 63544 of

Chamber of Commerce no. : 109243 of

Chamber of Commerce no. : 129263 of

Chamber of Commerce no. : 151427 of

Chamber of Commerce no. : 143941 of

Chamber of Commerce no. : 153697 of

Chamber of Commerce no. : 135107 of

Chamber of Commerce no. : 187276 of

Chamber of Commerce no. : 1020613 of

Chamber of Commerce no. : 151271 of

Chamber of Commerce no. : 88502 of

Chamber of Commerce no. : 123221 of

Chamber of Commerce no. : 310951 of

Chamber of Commerce no. : 255495 of

Chamber of Commerce no. : 297751 of

Chamber of Commerce no. : 193670 of

Chamber of Commerce no. : 182880 of

Chamber of Commerce no. : 286627 of since 29/11/1999

Chamber of Commerce no. : 307627 of

Chamber of Commerce no. : 338979 of

Chamber of Commerce no. : 134723 of

Chamber of Commerce no. : 160336 of

Firms' Register : VE-1999-51125 of

Firms' Register : VE-1999-51125 of since 02/12/1999

V.A.T. Code : 03147990273

Foundation date	: 01/07/1999
Establishment date	: 01/07/1999
Start of Activities	: 01/01/2005
Legal duration	: 31/12/2050
Nominal Capital	: 20.015.500
Subscribed Capital	: 20.015.500
Paid up Capital	: 20.015.500

Members

Landi

Paolo

Born in Borgo San Lorenzo

(FI)

on 07/05/1953

- Fiscal Code : LNDPLA53E07B036B

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	15/03/2010

No Prejudicial events are reported

No Protests registered

Zoppas

Giovanni

Born in Vittorio Veneto

(TV)

on 29/05/1958

- Fiscal Code : ZPPGNN58E29M089T

Residence:

Terraglio

, 17

- 30172

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Gruppo Coin - Societa' Per Azioni

In Forma Abbreviata G.c. - S.p.a.

Residence:

Cannaregio

, 5793

- 30121

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Sole partner

No Prejudicial events are reported

No Protests registered

Scattolin

Nicola

Born in Treviso

(TV)

on 09/09/1953

- Fiscal Code : SCTNCL53P09L407E

Residence:

Terraglio

, 17

- 30172

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	22/05/2007

No Prejudicial events are reported

No Protests registered

Zeilante

Luca

Born in Rovigo

(RO)

on 07/10/1962

- Fiscal Code : ZLNLCU62R07H620B

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Turi

Ugo

Born in Gioia del Colle

(BA)

on 13/12/1953

- Fiscal Code : TRUGUO53T13E038S

Residence:

Terraglio

, 17

- 30172

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	22/05/2007

No Prejudicial events are reported

No Protests registered

Cocchi

Bruno

Born in Bologna

(BO)

on 06/02/1956

- Fiscal Code : CCCBRN56B06A944Y

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Scussel

Andrea

Born in Venezia

(VE)

on 23/09/1961

- Fiscal Code : SCSNDR61P23L736H

Residence:

Terraglio

, 17

- 30172

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	22/05/2007

No Prejudicial events are reported

No Protests registered

Iacobelli

Massimo

Born in Napoli

(NA)

on 27/08/1960

- Fiscal Code : CBLMSM60M27F839Q

Residence:

Terraglio

, 17

- 30172

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	22/05/2007

No Prejudicial events are reported

No Protests registered

Sama

Francesco

Born in Treviso

(TV)

on 15/12/1964

- Fiscal Code : SMAFNC64T15L407G

Residence:

Tommasini

, 11

- 31100

Treviso

(TV)

- IT -

Position	Since	Shares Amount	% Ownership
General Director	27/10/2011
Director	15/05/2012

No Prejudicial events are reported

No Protests registered

De Martin

Andrea

Born in Pordenone

(PN)

on 06/11/1969

- Fiscal Code : DMRNDR69S06G888L

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Bui

Mirco

Born in Venezia

(VE)

on 09/12/1959

- Fiscal Code : BUIMRC59T09L736I

Residence:

Terraglio

, 17

- 30172

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	22/05/2007

No Prejudicial events are reported

No Protests registered

Margotti

Antonio

Born in Napoli

(NA)

on 16/05/1960

- Fiscal Code : MRGNTN60E16F839W

Residence:

Terraglio

, 17

- 30173

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	11/05/2007

No Prejudicial events are reported

No Protests registered

Comina

Daniela

Born in Venezia

(VE)

on 10/02/1962

- Fiscal Code : CMNDNL62B50L736K

Residence:

Terraglio

, 17

- 30100

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	10/07/2008

No Prejudicial events are reported

No Protests registered

Di Virgilio

Carmine

Born in Caserta

(CE)

on 04/10/1970

- Fiscal Code : DVRCMN70R04B963I

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	12/09/2012

No Prejudicial events are reported

Guadagno

Luciano

Born in Milano

(MI)

on 27/07/1968

- Fiscal Code : GDGLCN68L27F205B

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	12/11/2010

No Prejudicial events are reported

No Protests registered

Civiero

Rosetta

Born in Riese Pio X

(TV)

on 09/01/1954

- Fiscal Code : CVRRTT54A49H280S

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Paccagnan

Paolo

Born in Venezia

(VE)

on 01/07/1960

- Fiscal Code : PCCPLA60L01L736Q

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Perin

Nicola

Born in Padova

(PD)

on 19/01/1966

- Fiscal Code : PRNNCL66A19G224F

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Director	12/05/2010
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Beraldo

Stefano

Born in Venezia

(VE)

on 23/03/1957

- Fiscal Code : BRLSFN57C23L736P

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Director	12/05/2010
Board Chairman	12/05/2010
Managing Director	12/05/2010

No Prejudicial events are reported

No Protests registered

Boni

Claudia

Born in Melzo

(MI)

on 03/06/1962

- Fiscal Code : BNOCLD62H43F119B

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Vecchiato

Franca

Born in Camposampiero

(PD)

on 30/08/1959

- Fiscal Code : VCCFNC59M70B563P

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	01/12/2006

No Prejudicial events are reported

No Protests registered

Faccio

Alessandro

Born in Bassano del Grappa

(VI)

on 15/06/1970

- Fiscal Code : FCCLSN70H15A703Y

Residence:

Terraglio

, 17

- 30100

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	17/04/2012

No Prejudicial events are reported

No Protests registered

Tavilla

Giuseppe

Born in Roma

(RM)

on 25/07/1953

- Fiscal Code : TVLGPP53L25H501O

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	16/03/2011

No Prejudicial events are reported

No Protests registered

Valle

Matteo

Born in Venezia

(VE)

on 27/07/1973

- Fiscal Code : VLLMTT73L27L736D

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	22/10/2010

No Prejudicial events are reported

No Protests registered

Mora

Maria

Born in San Biagio di Callalta

(TV)

on 26/02/1955

- Fiscal Code : MROMRA55B66H781H

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	12/11/2010

No Prejudicial events are reported

No Protests registered

Capociuchi

Piero

Born in Perugia

(PG)

on 18/05/1960

- Fiscal Code : CPCPRI60E18G478L

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	16/03/2011

No Prejudicial events are reported

No Protests registered

Vanuzzo

Elisabetta

Born in Dolo

(VE)

on 05/11/1978

- Fiscal Code : VNZLBT78S45D325Z

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	02/03/2012

No Prejudicial events are reported

Moroni

Davide

Born in Venezia

(VE)

on 07/10/1969

- Fiscal Code : MRNDVD69R07L736K

Residence:

Mameli

, 24/A

- 30038

Spinea

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	17/04/2012

No Prejudicial events are reported

De Zotti

Marzia

Born in Berlino

( )

on 29/07/1977

- Fiscal Code : DZTMRZ77L69Z112V

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	18/07/2012

No Prejudicial events are reported

Capitanio

Marco

Born in Venezia

(VE)

on 29/08/1964

- Fiscal Code : CPTMRC64M29L736G

Residence:

Orlanda

, 269

- 30173

Venezia

(VE)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	12/09/2012

No Prejudicial events are reported

Companies connected to members *

*checkings have been performed on a national scale.

In this module are listed the companies in which members hold or have holded positions.

Gruppo Coin - Societa' Per Azioni

In Forma Abbreviata G.c. - S.p.a.

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Coin Franchising Societa' Per Azioni	Venezia (VE) - IT -	02557390586	Sole partner	-	Ceased
Coin S.p.a.	Venezia (VE) - IT -	08620050016	Sole partner	Active	Registered

Beraldo

Stefano

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Ariete S.p.a.	Campi Bisenzio (FI) - IT -	11205000158	Director	Withdrawn	Registered
C. E Dis. Commercio E Distribuzione S.p.a. Siglabile Cedis S.p.a.senza Vincoli D	Torino (TO) - IT -	01781100019	Director	Withdrawn	Merged
Coin Franchising Societa' Per Azioni	Venezia (VE) - IT -	02557390586	Managing Director	Withdrawn	Ceased
Coin Franchising Societa' Per Azioni	Venezia (VE) - IT -	02557390586	Director	-	Ceased
Coin Franchising Societa' Per Azioni	Venezia (VE) - IT -	02557390586	Managing Director	-	Ceased
Coin Franchising Societa' Per Azioni	Venezia (VE) - IT -	02557390586	Board Chairman	-	Ceased
Dl Radiators S.p.a.	Treviso (TV) - IT -	00730970266	Director	Withdrawn	Registered
Simac Vetrella S.p.a.	Gorgo Al Monticano (TV) - IT -	00857440267	Director	Withdrawn	Ceased
Climaveneta S.p.a.	Treviso (TV) - IT -	02205090265	Director	Withdrawn	Merged
De' Longhi S.p.a.	Treviso (TV) - IT -	11570840154	Director	Withdrawn	Registered
Gruppo Coin - Societa' Per AzioniIn Forma Abbreviata G.c. - S.p.a.	Venezia (VE) - IT -	00047400320	Managing Director	Withdrawn	Merged
Gruppo Coin - Societa' Per AzioniIn Forma Abbreviata G.c. - S.p.a.	Venezia (VE) - IT -	00047400320	Director	Withdrawn	Merged
Gruppo Coin - Societa' Per AzioniIn Forma Abbreviata G.c. - S.p.a.	Venezia (VE) - IT -	00047400320	General Director	Withdrawn	Merged
Elba S.p.a.	Treviso (TV) - IT -	00199160268	Director	Withdrawn	Ceased
Dl Radiators S.p.a.	Treviso (TV) - IT -	01460240276	Director	Withdrawn	Ceased
Fisher E Paykel Appliances Italy S.p.a.	Borso del Grappa (TV) - IT -	03295340263	Director	Withdrawn	Registered
Tre.bi - Spa	Venezia (VE) - IT -	01219500129	Managing Director	Withdrawn	Merged
Tre.bi - Spa	Venezia (VE) - IT -	01219500129	Director	Withdrawn	Merged
Tre.bi - Spa	Venezia (VE) - IT -	01219500129	Board Chairman	Withdrawn	Merged
Climaveneta S.p.A.	Treviso (TV) - IT -	02603430139	Director	Withdrawn	Registered
De Longhi Capital Services S.r.l.	Treviso (TV) - IT -	03281930960	Director	Withdrawn	Registered
Brand Zero S.p.a. In Liquidazione	Venezia (VE) - IT -	03841230273	Managing Director	Withdrawn	Registered
Brand Zero S.p.a. In Liquidazione	Venezia (VE) - IT -	03841230273	Director	Withdrawn	Registered
Brand Zero S.p.a. In Liquidazione	Venezia (VE) - IT -	03841230273	Board Chairman	Withdrawn	Registered
Cosi - Concept Of Style Italy S.p.A.	Venezia (VE) - IT -	03877320279	Director	Active	Registered
Coin S.p.a.	Venezia (VE) - IT -	08620050016	Managing Director	Withdrawn	Registered
Coin S.p.a.	Venezia (VE) - IT -	08620050016	Director	Active	Registered
Coin S.p.a.	Venezia (VE) - IT -	08620050016	Managing Director	Active	Registered
Coin S.p.a.	Venezia (VE) - IT -	08620050016	Board Chairman	Active	Registered
Oviesse Franchising Societa' Per Azioni	Venezia (VE) - IT -	08765310019	Director	Active	Registered
Giorgione Investimenti S.p.a.	Milano (MI) - IT -	04850810963	Director	Withdrawn	Registered
Gruppo Coin Societa' Per Azioni	Venezia (VE) - IT -	04850790967	Managing Director	Active	Registered
Gruppo Coin Societa' Per Azioni	Venezia (VE) - IT -	04850790967	Director	Active	Registered
Gruppo Coin Societa' Per Azioni	Venezia (VE) - IT -	04850790967	General Director	Active	Registered
Upim S.r.l	Venezia (VE) - IT -	05034590967	Director	Active	Registered
Upim S.r.l	Venezia (VE) - IT -	05034590967	Managing Director	Active	Registered
Upim S.r.l	Venezia (VE) - IT -	05034590967	Board Chairman	Active	Registered
Elica Societa' Semplice Societa' Agricola	Venezia (VE) - IT -	03944180276	Partner	Active	Registered
Agricola Nova Silis Societa' Semplice Societa' Agricola	Venezia (VE) - IT -	02066170263	Partner	Active	Registered
Icon Spa	Milano (MI) - IT -	07094260960	Director	Withdrawn	Registered
Gcf S.p.a.	Venezia (VE) - IT -	04135270272	Director	Active	Registered
Gcf S.p.a.	Venezia (VE) - IT -	04135270272	Board Chairman	Active	Registered

The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.

Capital Shareholders

Shareholders' list as at date of data collection:

Firm's Style / Name	Seat / Residence	Fiscal Code	Owned Shares	% Ownership
Gruppo Coin - Societa' Per Azioni In Forma Abbreviata G.c. - S.p.a.	Venezia - IT -	00047400320		100,00

Firm's location and structure

Legal and operative seat

Terraglio

, 17

- 30170

- Venezia - Mestre

(VE)

- IT -

Total Surface: 1.400 Sq.mt.

PHONE

: 0412398000

PHONE

: 0412398042

PHONE

: 04123982727

Branch

(Shop)

since 01/01/2005

E. Mattei

, 9/D

- 30020

- Marcon

(VE)

- IT -

Trading Style: OVIESSE

Total Surface: 1.400 Sq.mt.

Branch

(Shop)

since 01/01/2005

Don F. Tosatto

, 18

- 30100

- Venezia

(VE)

- IT -

Trading Style: OVIESSE

Total Surface: 2.024 Sq.mt.

Branch

(Shop)

since 01/01/2005

Gran Viale S. Maria Elisabetta

, 39

- 30100

- Venezia

(VE)

- IT -

Trading Style: OVIESSE

Total Surface: 1.857 Sq.mt.

Branch

(Shop)

since 15/02/2005

Colle Delle Api

, 44

- 86100

- Campobasso

(CB)

- IT -

Trading Style: OVIESSE

Branch

(Shop)

since 01/01/2005

Battaglione

, 5

- 11100

- Aosta

(AO)

- IT -

Trading Style: OVIESSE

Branch

(Shop)

since 01/01/2005

Del Commercio

, 520

- 63100

- Ascoli Piceno

(AP)

- IT -

Trading Style: OVIESSE

Total Surface: 520 Sq.mt.

Branch

(Shop)

since 01/01/2005

Giusti

, 4

- 44100

- Ferrara

(FE)

- IT -

Trading Style: OVIESSE

Total Surface: 1.530 Sq.mt.

Branch

(Shop)

since 01/01/2005

Degli Aviatori

, 126

- 71100

- Foggia

(FG)

- IT -

Trading Style: OVIESSE

Total Surface: 1.560 Sq.mt.

Branch

(Shop)

since 01/01/2005

Vittorio Emanuele Ii

, 28

- 26100

- Cremona

(CR)

- IT -

Total Surface: 2.280 Sq.mt.

Branch

(Shop)

since 01/01/2005

Commenda

, 120/132

- 72100

- Brindisi

(BR)

- IT -

Trading Style: OVIESSE

Total Surface: 1.012 Sq.mt.

Branch

(Shop)

since 04/05/2006

Mazzini

, 102

- 30031

- Dolo

(VE)

- IT -

Trading Style: OVIESSE

Total Surface: 925 Sq.mt.

Branch

(Shop)

since 27/09/2006

Vizzotto

, 104

- 30027

- San Dona' di Piave

(VE)

- IT -

Trading Style: OVIESSE

Total Surface: 860 Sq.mt.

Branch

(Shop)

since 12/07/2007

Xxvii Ottobre

, 1-2

- 30100

- Venezia

(VE)

- IT -

Trading Style: OVIESSE

Branch

(Shop)

since 24/04/2008

Venezia

, 20

- 30016

- Iesolo

(VE)

- IT -

Trading Style: OVIESSE

Total Surface: 970 Sq.mt.

Branch

(Shop)

since 02/08/2009

Luigi Broglio

, 8

- 30100

- Venezia

(VE)

- IT -

Trading Style: OVIESSE

Total Surface: 50 Sq.mt.

Branch

(Shop)

since 25/11/2010

Pratiguori

, 29/A

- 30026

- Portogruaro

(VE)

- IT -

Trading Style: OVIESSE

Total Surface: 1.496 Sq.mt.

Branch

(Shop)

since 01/01/2005

Gioieni

, 39/41

- 92100

- Agrigento

(AG)

- IT -

Trading Style: OVIESSE

Total Surface: 2.082 Sq.mt.

Branch

(Shop)

since 25/09/2010

Campobello

, 159

- 92027

- Licata

(AG)

- IT -

Trading Style: OVIESSE

Branch

(Shop)

since 04/12/2010

Vittorio Emanuele

, 112

- 92019

- Sciacca

(AG)

- IT -

Trading Style: OVIESSE

Total Surface: 730 Sq.mt.

Branch

(Shop)

since 01/01/2005

Spalto Marengo

- 15100

- Alessandria

(AL)

- IT -

Trading Style: OVIESSE

Total Surface: 1.098 Sq.mt.

Branch

(Shop)

since 01/01/2005

Roma

, 47

- 15033

- Casale Monferrato

(AL)

- IT -

Trading Style: OVIESSE

Total Surface: 1.545 Sq.mt.

Branch

(Shop)

since 01/01/2005

Per Viguzzolo

, 2

- 15057

- Tortona

(AL)

- IT -

Trading Style: OVIESSE

Total Surface: 1.400 Sq.mt.

Branch

(Shop)

since 01/03/2009

, 7

- 15030

- Villanova Monferrato

(AL)

- IT -

Total Surface: 957 Sq.mt.

Branch

(Shop)

since 27/08/2009

Chiozzo

- 15100

- Alessandria

(AL)

- IT -

Trading Style: OVIESSE

Total Surface: 1.160 Sq.mt.

Branch

(Shop)

since 01/10/2010

Ferrara

, 9/11

- 15100

- Alessandria

(AL)

- IT -

Trading Style: OVIESSE

Total Surface: 150 Sq.mt.

Branch

(Shop)

since 01/10/2010

Carducci

, 7

- 15011

- Acqui Terme

(AL)

- IT -

Trading Style: OVIESSE

Total Surface: 90 Sq.mt.

Branch

(Shop)

since 01/01/2005

Sbrozzola

, 28

- 60027

- Osimo

(AN)

- IT -

Trading Style: OVIESSE

Total Surface: 1.482 Sq.mt.

Branch

(Shop)

since 01/01/2005

Iv Novembre

, 44/46

- 60019

- Senigallia

(AN)

- IT -

Trading Style: OVIESSE

Total Surface: 1.735 Sq.mt.

Branch

(Shop)

since 30/05/2007

Caduti Del Lavoro

, 4

- 60035

- Jesi

(AN)

- IT -

Trading Style: OVIESSE

Total Surface: 566 Sq.mt.

Branch

(Shop)

since 01/03/2009

Grand Chemin

, 60

- 11100

- Saint Christophe

(AO)

- IT -

Total Surface: 683 Sq.mt.

Branch

(Shop)

since 01/01/2005

Trieste

, 33/35

- 67051

- Avezzano

(AQ)

- IT -

Trading Style: OVIESSE

Total Surface: 2.047 Sq.mt.

Branch

(Shop)

since 01/01/2005

Vittorio Veneto

- 67039

- Sulmona

(AQ)

- IT -

Trading Style: OVIESSE

Total Surface: 1.320 Sq.mt.

Branch

(Shop)

since 12/05/2011

R. Carabba

, SNC

- 67100

- L'Aquila

(AQ)

- IT -

Trading Style: OVIESSE

Total Surface: 900 Sq.mt.

Branch

(Shop)

since 01/01/2005

Dei Montefeltro

, 1/C

- 52037

- Sansepolcro

(AR)

- IT -

Trading Style: OVIESSE

Total Surface: 1.000 Sq.mt.

Branch

(Shop)

since 24/10/2006

Area Gd1

- 14100

- Asti

(AT)

- IT -

Trading Style: OVIESSE

Total Surface: 1.300 Sq.mt.

Branch

(Shop)

since 01/03/2009

Casale

, 319

- 14100

- Asti

(AT)

- IT -

Branch

(Shop)

since 01/01/2005

Nazionale Torrette

- 83013

- Mercogliano

(AV)

- IT -

Trading Style: OVIESSE

Total Surface: 1.100 Sq.mt.

Branch

(Shop)

since 30/08/2007

Appia

, 136/H/I/

- 83042

- Atripalda

(AV)

- IT -

Trading Style: OVIESSE

Total Surface: 2.023 Sq.mt.

Branch

(Shop)

since 01/01/2005

S.s. 170 Andria-barletta

- 70031

- Andria

(BA)

- IT -

Trading Style: OVIESSE

Total Surface: 1.600 Sq.mt.

Branch

(Shop)

since 01/01/2005

Noicattaro

, 2

- 70010

- Casamassima

(BA)

- IT -

Trading Style: OVIESSE

Total Surface: 1.400 Sq.mt.

Branch

(Shop)

since 01/01/2005

Aldo Moro

, 1

- 70059

- Trani

(BA)

- IT -

Trading Style: OVIESSE

Total Surface: 1.000 Sq.mt.

Branch

(Shop)

since 21/06/2005

Loiacono - Via Toscanini

- 70100

- Bari

(BA)

- IT -

Trading Style: OVIESSE

Total Surface: 601 Sq.mt.

Branch

(Shop)

since 01/03/2008

Olivetti

- 70056

- Molfetta

(BA)

- IT -

Trading Style: OVIESSE

Total Surface: 1.175 Sq.mt.

Branch

(Shop)

since 04/09/2008

Sparano

, 28

- 70100

- Bari

(BA)

- IT -

Trading Style: OVIESSE

Total Surface: 250 Sq.mt.

Branch

(Shop)

since 05/09/2009

Melo

, 116

- 70100

- Bari

(BA)

- IT -

Trading Style: OVIESSE KIDS

Total Surface: 220 Sq.mt.

Branch

(Shop)

since 20/04/2011

C.da Semeraro

, 1/A

- 70010

- Locorotondo

(BA)

- IT -

Trading Style: OVIESSE

Total Surface: 810 Sq.mt.

Branch

(Shop)

since 01/01/2005

Gerolamo Tiraboschi

, 53

- 24100

- Bergamo

(BG)

- IT -

Trading Style: OVIESSE

Branch

(Shop)

since 01/01/2005

Brusaporto

, 41

- 24068

- Seriate

(BG)

- IT -

Trading Style: OVIESSE

Total Surface: 1.250 Sq.mt.

Branch

(Warehouse)

since 01/01/2005

Nazionale

, 116

- 24068

- Seriate

(BG)

- IT -

Trading Style: OVIESSE

Branch

(Shop)

since 01/01/2005

Piemonte

- 24049

- Verdello

(BG)

- IT -

Trading Style: OVIESSE KID'S

Total Surface: 500 Sq.mt.

Branch

(Shop)

since 23/02/2009

E. Fermi

, 2

- 24035

- Curno

(BG)

- IT -

Trading Style: OVIESSE

Total Surface: 1.499 Sq.mt.

Branch

(Shop)

since 23/02/2009

Vittorio Veneto

- 24041

- Brembate

(BG)

- IT -

Trading Style: OVIESSE

Total Surface: 1.499 Sq.mt.

Branch

(Shop)

since 01/03/2009

Portico

, 71

- 24050

- Orio Al Serio

(BG)

- IT -

Total Surface: 795 Sq.mt.

Branch

(Shop)

since 22/04/2009

Del Commercio

, 3

- 24051

- Antegnate

(BG)

- IT -

Trading Style: OVIESSE

Total Surface: 1.070 Sq.mt.

Branch

(Shop)

since 01/10/2010

Tre Passi

, 1

- 24100

- Bergamo

(BG)

- IT -

Trading Style: OVIESSE

Total Surface: 42 Sq.mt.

Branch

(Shop)

since 01/03/2009

Cavour

, 60

- 13052

- Gaglianico

(BI)

- IT -

Total Surface: 950 Sq.mt.

Branch

(Shop)

since 01/01/2005

Dei Martiri

, 56/62

- 32100

- Belluno

(BL)

- IT -

Trading Style: OVIESSE

Total Surface: 1.154 Sq.mt.

Branch

(Shop)

since 01/01/2005

Panfilo Castaldi

, 7

- 32032

- Feltre

(BL)

- IT -

Trading Style: OVIESSE

Total Surface: 1.305 Sq.mt.

Branch

(Shop)

since 01/07/2008

Napoli

, 216

- 82100

- Benevento

(BN)

- IT -

Trading Style: OVIESSE

Branch

(Shop)

since 01/01/2005

Degli Etruschi

, 2/9

- 40033

- Casalecchio di Reno

(BO)

- IT -

Trading Style: OVIESSE

Total Surface: 1.500 Sq.mt.

Branch

(Shop)

since 03/01/2005

Martiri 1943-1945

, 1/H

- 40100

- Bologna

(BO)

- IT -

Trading Style: OVIESSE

Total Surface: 2.842 Sq.mt.

Branch

(Shop)

since 03/01/2005

T. Carnacini

- 40100

- Bologna

(BO)

- IT -

Trading Style: OVIESSE

Total Surface: 2.002 Sq.mt.

Branch

(Shop)

since 16/11/2006

Amendola

, 129

- 40026

- Imola

(BO)

- IT -

Trading Style: OVIESSE

Total Surface: 1.400 Sq.mt.

Branch

(Shop)

since 01/10/2010

San Felice

, 123

- 40100

- Bologna

(BO)

- IT -

Trading Style: OVIESSE

Total Surface: 116 Sq.mt.

Branch

(Shop)

since 01/01/2005

Rovato

, 44

- 25030

- Erbusco

(BS)

- IT -

Trading Style: OVIESSE

Total Surface: 1.390 Sq.mt.

Branch

(Shop)

since 01/01/2005

Giorgione

, 13

- 25100

- Brescia

(BS)

- IT -

Trading Style: OVIESSE

Total Surface: 1.300 Sq.mt.

Branch

(Shop)

since 05/03/2009

Tadini

, 37

- 25100

- Brescia

(BS)

- IT -

Total Surface: 1.945 Sq.mt.

Branch

(Shop)

since 05/03/2009

Mantova

, 98

- 25100

- Brescia

(BS)

- IT -

Total Surface: 1.100 Sq.mt.

Branch

(Shop)

since 01/03/2009

Caduti Dei Lager

, 23

- 25015

- Desenzano del Garda

(BS)

- IT -

Total Surface: 800 Sq.mt.

Branch

(Shop)

since 01/01/2005

Piazza Walther Von Vogelweide

, SNC

- 39100

- Bolzano

(BZ)

- IT -

Trading Style: OVIESSE

Total Surface: 1.450 Sq.mt.

Branch

(Shop)

since 07/01/2009

Via Portici

, 321/3/5

- 39012

- Merano

(BZ)

- IT -

Trading Style: OVIESSE

Total Surface: 1.096 Sq.mt.

Branch

(Shop)

since 01/01/2005

La Plaia

, 15

- 09100

- Cagliari

(CA)

- IT -

Trading Style: OVIESSE

Total Surface: 1.495 Sq.mt.

Branch

(Shop)

since 01/01/2005

Delle Serre

, Loc: SU IDANU

- 09044

- Quartucciu

(CA)

- IT -

Trading Style: OVIESSE

Total Surface: 1.647 Sq.mt.

Branch

(Shop)

since 01/10/2010

San Benedetto

, 11/B-C

- 09045

- Quartu Sant'Elena

(CA)

- IT -

Trading Style: OVIESSE

Total Surface: 75 Sq.mt.

Branch

(Shop)

since 01/01/2005

G.m.bosco Via Settembrini

- 81100

- Caserta

(CE)

- IT -

Trading Style: OVIESSE

Total Surface: 3.500 Sq.mt.

Branch

(Shop)

since 26/04/2007

Piave Comparto D3-9

- 66020

- San Giovanni Teatino

(CH)

- IT -

Trading Style: OVIESSE

Total Surface: 1.854 Sq.mt.

Branch

(Shop)

since 01/10/2010

Venezia Ang. Via Butera

, 93012

- 93012

- Gela

(CL)

- IT -

Trading Style: OVIESSE

Total Surface: 540 Sq.mt.

Branch

(Shop)

since 01/01/2005

Langhe

, 8

- 12051

- Alba

(CN)

- IT -

Trading Style: OVIESSE

Total Surface: 2.150 Sq.mt.

Branch

(Shop)

since 01/03/2009

Cuneo

, 78

- 12011

- Borgo San Dalmazzo

(CN)

- IT -

Total Surface: 1.169 Sq.mt.

Branch

(Shop)

since 27/05/2010

Roma

, 62

- 12100

- Cuneo

(CN)

- IT -

Trading Style: OVIESSE KIDS

Total Surface: 61 Sq.mt.

Branch

(Shop)

since 01/01/2005

Lombardia

, 68

- 22063

- Cantu'

(CO)

- IT -

Trading Style: OVIESSE

Total Surface: 1.150 Sq.mt.

Branch

(Shop)

since 01/01/2005

Leopardi

, 2/A

- 22070

- Grandate

(CO)

- IT -

Trading Style: OVIESSE

Total Surface: 410 Sq.mt.

Branch

(Shop)

since 21/02/2009

E. Ratti

, 1/D

- 22070

- Montano Lucino

(CO)

- IT -

Trading Style: OVIESSE

Total Surface: 661 Sq.mt.

Branch

(Shop)

since 01/03/2009

Prealpi

- 22036

- Erba

(CO)

- IT -

Total Surface: 400 Sq.mt.

Branch

(Shop)

since 01/03/2009

G. La Pira

, 18

- 26013

- Crema

(CR)

- IT -

Total Surface: 900 Sq.mt.

Branch

(Shop)

since 01/03/2009

Castelleone

, 108

- 26100

- Cremona

(CR)

- IT -

Total Surface: 1.032 Sq.mt.

Branch

(Shop)

since 01/01/2005

Mazzini

, 90/98

- 87100

- Cosenza

(CS)

- IT -

Trading Style: OVIESSE

Total Surface: 5.428 Sq.mt.

Branch

(Shop)

since 01/01/2005

Verdi

, 40

- 87036

- Rende

(CS)

- IT -

Trading Style: OVIESSE KID'S

Branch

(Shop)

since 01/01/2005

Etnea

, 287

- 95100

- Catania

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 1.458 Sq.mt.

Branch

(Shop)

since 01/01/2005

Callipoli

, 61/67

- 95014

- Giarre

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 1.035 Sq.mt.

Branch

(Shop)

since 01/01/2005

Carlo Marx

, 34/50

- 95045

- Misterbianco

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 1.356 Sq.mt.

Branch

(Shop)

since 01/01/2005

Xx Settembre

, 76

- 95100

- Catania

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 990 Sq.mt.

Branch

(Shop)

since 22/12/2005

Valcorrente

, 23

- 95032

- Belpasso

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 1.711 Sq.mt.

Branch

(Shop)

since 04/02/2011

Europa

, SNC

- 95041

- Caltagirone

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 488 Sq.mt.

Branch

(Shop)

since 01/01/2005

Acri

, 2-5-7

- 88100

- Catanzaro

(CZ)

- IT -

Trading Style: OVIESSE

Total Surface: 2.970 Sq.mt.

Branch

(Shop)

since 12/12/2005

Macchia

, Loc: ZONA ASI

- 71037

- Monte Sant'Angelo

(FG)

- IT -

Trading Style: OVIESSE

Total Surface: 800 Sq.mt.

Branch

(Shop)

since 12/05/2007

Guida Rossa

- 71016

- San Severo

(FG)

- IT -

Trading Style: OVIESSE

Total Surface: 600 Sq.mt.

Branch

(Shop)

since 01/01/2005

S. Quirico

, 165

- 50013

- Campi Bisenzio

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 1.900 Sq.mt.

Branch

(Shop)

since 01/01/2005

Nazionale

, 29

- 50100

- Firenze

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 1.200 Sq.mt.

Branch

(Shop)

since 01/01/2005

Dalmazia

, 12-14

- 50100

- Firenze

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 3.465 Sq.mt.

Branch

(Shop)

since 01/01/2005

Panzani Ang.via Del Giglio

- 50100

- Firenze

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 1.967 Sq.mt.

Branch

(Shop)

since 01/01/2005

Gioberti

, 158/160R

- 50100

- Firenze

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 988 Sq.mt.

Branch

(Shop)

since 01/01/2005

Dei Mille

- 50100

- Firenze

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 1.710 Sq.mt.

Branch

(Shop)

since 01/01/2005

S.p. Per S.gimignano

- 50021

- Barberino Val d'Elsa

(FI)

- IT -

Trading Style: OVIESSE

Branch

(Shop)

since 31/08/2006

Fucecchiello

, 7

- 50054

- Fucecchio

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 518 Sq.mt.

Branch

(Shop)

since 18/10/2007

Raffaele Sanzio

, 199

- 50053

- Empoli

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 1.200 Sq.mt.

Branch

(Shop)

since 12/05/2011

Petrosa

, 19

- 50019

- Sesto Fiorentino

(FI)

- IT -

Trading Style: OVIESSE

Total Surface: 642 Sq.mt.

Branch

(Shop)

since 21/05/2011

Gelso Bianco

, SNC

- 95100

- Catania

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 199 Sq.mt.

Branch

(Shop)

since 10/06/2011

54 - Co.da Cubba

, SNC

- 95045

- Misterbianco

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 515 Sq.mt.

Branch

(Shop)

since 25/08/2011

Domenico Modugno

, 4/A

- 13051

- Biella

(BI)

- IT -

Trading Style: OVIESSE

Total Surface: 1.150 Sq.mt.

Branch

(Shop)

since 25/08/2011

Lazzaretto

, 20

- 95024

- Acireale

(CT)

- IT -

Trading Style: OVIESSE

Total Surface: 968 Sq.mt.

Branch

(Shop)

since 20/10/2011

Novi

, 35

- 15069

- Serravalle Scrivia

(AL)

- IT -

Trading Style: OVS INDUSTRY

Total Surface: 1.350 Sq.mt.

Branch

(Shop)

since 24/11/2011

Ungheria

, 8/B

- 50063

- Figline Valdarno

(FI)

- IT -

Trading Style: OVS

Total Surface: 1.000 Sq.mt.

Branch

(Shop)

since 01/01/2012

Barche

, 34

- 30035

- Mirano

(VE)

- IT -

Trading Style: IANA

Total Surface: 48 Sq.mt.

Branch

(Shop)

since 01/01/2012

Borgarelli

, 56/58/60

- 15057

- Tortona

(AL)

- IT -

Trading Style: IANA

Total Surface: 145 Sq.mt.

Branch

(Shop)

since 01/01/2012

Vittorio Veneto

, 127

- 52100

- Arezzo

(AR)

- IT -

Trading Style: IANA

Total Surface: 130 Sq.mt.

Branch

(Shop)

since 29/02/2012

Roma

, 61-63

- 83042

- Atripalda

(AV)

- IT -

Trading Style: IANA

Total Surface: 68 Sq.mt.

Branch

(Shop)

since 30/11/2011

Santa Catarina

, 17

- 70100

- Bari

(BA)

- IT -

Trading Style: OVS

Total Surface: 1.500 Sq.mt.

Branch

(Shop)

since 01/01/2012

Dante Alighieri

, 17

- 70100

- Bari

(BA)

- IT -

Trading Style: 17

Total Surface: 79 Sq.mt.

Branch

(Shop)

since 01/01/2012

Dante

, 33

- 70033

- Corato

(BA)

- IT -

Trading Style: IANA

Total Surface: 130 Sq.mt.

Branch

(Shop)

since 01/01/2012

Umberto

, 63

- 70056

- Molfetta

(BA)

- IT -

Trading Style: IANA

Total Surface: 80 Sq.mt.

Branch

(Shop)

since 06/03/2012

Italia

, 27-27/A

- 70059

- Trani

(BA)

- IT -

Trading Style: IANA

Total Surface: 88 Sq.mt.

Branch

since 19/04/2012

Rezzara Nicolo'

, 11/B

- 24100

- Bergamo

(BG)

- IT -

Trading Style: IANA

Total Surface: 84 Sq.mt.

Branch

(Shop)

since 01/12/2011

Benevento

, SNC

- 82016

- Montesarchio

(BN)

- IT -

Trading Style: OVS

Total Surface: 600 Sq.mt.

Branch

(Shop)

since 01/01/2012

Vittorio Emanuele

, 50/52

- 72015

- Fasano

(BR)

- IT -

Trading Style: IANA

Total Surface: 120 Sq.mt.

Branch

(Shop)

since 01/01/2012

Brescia

, 48/50

- 25086

- Rezzato

(BS)

- IT -

Trading Style: IANA

Total Surface: 227 Sq.mt.

Branch

since 20/04/2012

Garibaldi

, 17

- 25049

- Iseo

(BS)

- IT -

Trading Style: IANA

Total Surface: 47 Sq.mt.

Branch

(Shop)

since 01/01/2012

Via Gries

, 14

- 39011

- Lana

(BZ)

- IT -

Trading Style: IANA

Total Surface: 55 Sq.mt.

Branch

(Shop)

since 01/01/2012

Via Bastioni Maggiori

, 17

- 39042

- Bressanone

(BZ)

- IT -

Trading Style: IANA

Total Surface: 88 Sq.mt.

Branch

(Shop)

since 01/01/2012

Piazza Della Rena

, 1

- 39012

- Merano

(BZ)

- IT -

Trading Style: IANA

Total Surface: 125 Sq.mt.

Branch

since 26/04/2012

Piazza Citta'

, 7/A

- 39049

- Vipiteno

(BZ)

- IT -

Trading Style: IANA

Total Surface: 58 Sq.mt.

Branch

(Shop)

since 26/04/2012

Via Centrale

, 11

- 39031

- Brunico

(BZ)

- IT -

Trading Style: IANA

Total Surface: 40 Sq.mt.

Branch

(Shop)

since 03/03/2012

C. Battisti - L. Ferritto

, 42

- 81055

- Piedimonte Matese

(CE)

- IT -

Trading Style: IANA

Total Surface: 67 Sq.mt.

Branch

(Shop)

since 05/04/2012

Cerea

, 15

- 12084

- Mondovi'

(CN)

- IT -

Trading Style: OVS

Total Surface: 1.350 Sq.mt.

Branch

since 19/04/2012

Marconi

, 10/B

- 12050

- Magliano Alfieri

(CN)

- IT -

Trading Style: OVS

Total Surface: 750 Sq.mt.

Branch

(Shop)

since 01/01/2012

Stradivari

, 18

- 26100

- Cremona

(CR)

- IT -

Trading Style: IANA

Total Surface: 137 Sq.mt.

Branch

(Shop)

since 22/03/2012

Gelso Bianco

, SNC

- 95100

- Catania

(CT)

- IT -

Trading Style: OVS KIDS

Total Surface: 188 Sq.mt.

Branch

(Shop)

since 01/01/2012

Folegatti

, 30

- 44022

- Comacchio

(FE)

- IT -

Trading Style: IANA

Total Surface: 40 Sq.mt.

Branch

(Shop)

since 01/01/2012

San Romano

, 72/74

- 44100

- Ferrara

(FE)

- IT -

Trading Style: IANA

Total Surface: 244 Sq.mt.

Branch

(Shop)

since 01/01/2012

Del Giglio

, 72

- 50053

- Empoli

(FI)

- IT -

Trading Style: IANA

Total Surface: 74 Sq.mt.

Branch

(Shop)

since 05/10/2012

Aosta

, 12-13-14

- 92024

- Canicatti'

(AG)

- IT -

Trading Style: OVS

Total Surface: 948 Sq.mt.

Branch

(Shop)

since 06/08/2012

V. Abbagnano

, 7

- 60019

- Senigallia

(AN)

- IT -

Trading Style: IANA

Total Surface: 135 Sq.mt.

Branch

(Shop)

since 23/08/2012

De Tiller

, 9

- 11100

- Aosta

(AO)

- IT -

Trading Style: IANA

Total Surface: 105 Sq.mt.

Branch

(Shop)

since 16/06/2012

Alfieri

, 48

- 14100

- Asti

(AT)

- IT -

Trading Style: OVS KIDS

Total Surface: 179 Sq.mt.

Branch

(Shop)

since 23/08/2012

Cavour

, 26

- 14100

- Asti

(AT)

- IT -

Trading Style: IANA

Total Surface: 49 Sq.mt.

Branch

(Shop)

since 18/10/2012

Nazionale Torrette

, 139/A

- 83013

- Mercogliano

(AV)

- IT -

Trading Style: OVS

Total Surface: 1.200 Sq.mt.

Branch

(Shop)

since 10/09/2012

Martiri

, 21

- 32100

- Belluno

(BL)

- IT -

Trading Style: IANA

Total Surface: 130 Sq.mt.

Branch

(Shop)

since 07/06/2012

Viale S. Giovanni

, 20

- 39034

- Dobbiaco

(BZ)

- IT -

Trading Style: IANA

Total Surface: 140 Sq.mt.

Branch

(Shop)

since 08/11/2012

Ex S.s. 131 Km 10,800

, SNC

- 09058

- Sestu

(CA)

- IT -

Trading Style: OVS

Total Surface: 813 Sq.mt.

Branch

(Shop)

since 21/11/2012

Interporto Maddaloni

, SNC

- 81025

- Marcianise

(CE)

- IT -

Trading Style: OVS

Total Surface: 1.300 Sq.mt.

Branch

(Shop)

since 13/09/2012

Corridoni

, 44R 46R

- 50100

- Firenze

(FI)

- IT -

Trading Style: IANA

Total Surface: 58 Sq.mt.

Branch

RAGGIUNTO IL N. MAX DI UNITA LOCALI

- VISUALIZZABILI

Employees

: 3.195

Fittings and Equipment for a value of 40.490.000

Eur

Stocks for a value of 198.300.000

Eur

Traded Brands / Suppliers

- Oviesse, Act

Historical Information and/or Firm's Status

COMPANY STYLE MODIFICATIONS:

Former Style	New Style	Changement Date
Open Space Srl	Oviesse Srl	31/10/2004

EX-MEMBERS / EX-POSITIONS:

Zoppas

Giovanni

Born in Vittorio Veneto

(TV)

on 29/05/1958

- Fiscal Code : ZPPGNN58E29M089T

Residence:

Terraglio

, 17

- 30172

Venezia

(VE)

- IT -

Ex-Postions

Director

Bohm

Antonio

Born in Marostica

(VI)

on 18/09/1951

- Fiscal Code : BHMNTN51P18E970F

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Ex-Postions

Procurator

Zonta

Fabio

Born in Padova

(PD)

on 20/09/1962

- Fiscal Code : ZNTFBA62P20G224W

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Ex-Postions

Procurator

Sama

Francesco

Born in Treviso

(TV)

on 15/12/1964

- Fiscal Code : SMAFNC64T15L407G

Residence:

Tommasini

, 11

- 31100

Treviso

(TV)

- IT -

Ex-Postions

Director

Furfaro

Nadia

Born in Cosenza

(CS)

on 23/01/1955

- Fiscal Code : FRFNDA55A63D086S

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Ex-Postions

Procurator

De Vivo

Mario

Born in Venezia

(VE)

on 22/07/1967

- Fiscal Code : DVVMRA67L22L736H

Residence:

Terraglio

, 17

- 30100

Venezia

(VE)

- IT -

Ex-Postions

Procurator

Cortellazzo Wiel

Roberto

Born in Venezia

(VE)

on 27/05/1958

- Fiscal Code : CRTRRT58E27L736T

Residence:

Palestro

, 16

- 31100

Treviso

(TV)

- IT -

Ex-Postions

Permanent Auditor

Pampani

Fabio

Born in Napoli

(NA)

on 11/09/1961

- Fiscal Code : PMPFBA61P11F839N

Residence:

Pratolini

, 7

- 31021

Mogliano Veneto

(TV)

- IT -

Ex-Postions

Procurator

General Director

Director

Artuso

Stefano

Born in Treviso

(TV)

on 11/08/1964

- Fiscal Code : RTSSFN64M11L407C

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Ex-Postions

Procurator

Tassetto

Giovanni

Born in Pianiga

(VE)

on 26/10/1959

- Fiscal Code : TSSGNN59R26G565M

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Ex-Postions

Procurator

Breda

Alessandra

Born in Venezia

(VE)

on 29/01/1966

- Fiscal Code : BRDLSN66A69L736Z

Residence:

Terraglio

, 17

- 30174

Venezia

(VE)

- IT -

Ex-Postions

Procurator

CEASINGS/INCORPORATIONS/MERGES:

Firm dissolved ex officio.

Date

: 01/01/2013

The firm took over the activity of

Gruppo Coin - Societa' Per AzioniIn Forma Abbreviata G.c. - S.p.a.

Cannaregio

, 5793

, 30121

, Venezia

(VE)

- IT -

Fiscal Code: 00047400320

Date

31/10/2004

Project of merging by taking over of

Melablu Trento S.r.l

Terraglio

, 17

, 30170

, Venezia

(VE)

- IT -

Fiscal Code: 01808580227

Date

Merging/splitting-up project:

15/12/2008

The firm absorbed by merging of

Tre.bi - Spa

Terraglio

, 17

, 30170

, Venezia

(VE)

- IT -

Fiscal Code: 01219500129

Date

26/02/2009

Project of merging into

Gruppo Coin Societa' Per Azioni

Terraglio

, 17

, 30174

, Venezia

(VE)

- IT -

Fiscal Code: 04850790967

Date

Merging/splitting-up project:

28/06/2012

Firm dissolved owing to merging into

Date

01/01/2013

The firm merged into

Gruppo Coin Societa' Per Azioni

Terraglio

, 17

, 30174

, Venezia

(VE)

- IT -

Fiscal Code: 04850790967

Date

28/11/2012

Protests

Protests checking on the subject firm has given a negative result.

Data Base Prejudicial Events Search

Search performed on a National Scale

Prejudicial Events Search Result: NEGATIVE

Search performed on a specialized data base.

Legal Procedures

None reported, standing to the latest received edition of the Official Publications.

Financial and Economical Analysis

The company is active since 2005

An eco-fin analysis has been made on the base od the b/s fo the years 2010, 2011 and 2012.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 1,79% in 2012 keeping the turnover steady during the last two years.

The operating result in 2012 was positive (6,8%) falling within the field's average.

The amount of the operating result for the year 2012 is of Eur. 35.985.359 with a -59,43% drop.

During the latest financial year the gross operating margin amounted to Eur. 91.311.730 with a -36,96% fall.

Short-term debts volume if compared to net worth, as it comes out from the total indebtedness (14,93) and increasing if compared to the previous year.

With regard to equity capital, an amount of Eur. 26.658.982 is registered. with a -85,96% fall.

Total debts recorded amounted to Eur. 454.368.219 (Eur. 52.061.516 of which were m/l term debts) , showing an upward trend if compared to 2011.

Both financial indebtedness as well as exsposure to suplliers are rated as fairly high but lined up with the field's average.

Liquid assets are not adequatel to subject's needs.

On average trade credits are collected in 5,49 days. , lower than the sector's average.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 53.853.577

Labour cost expenses amount to Eur. 143.125.574 , representing 15,28% on the total of production costs. , whereas the incidence of such costs on sales revenues is equal to 15,24%.

High incidence of financial charges on turnover.

The presence of detrimental items, apart from the financial-economic analysis, makes the company not suitable for business transactions on credit basis.

Financial Data

Complete balance-sheet for the year

31/01/2012

(in Eur

x 1)

Item Type	Value
Sales	939.177.616
Profit (Loss) for the period	477.206

Complete balance-sheet for the year

31/01/2011

(in Eur

x 1)

Item Type	Value
Sales	961.352.781
Profit (Loss) for the period	52.712.000

Complete balance-sheet for the year

31/01/2010

(in Eur

x 1)

Item Type	Value
Sales	861.274.537
Profit (Loss) for the period	43.743.424

Complete balance-sheet for the year

31/01/2009

(in Eur

x 1)

Item Type	Value
Sales	792.913.298
Profit (Loss) for the period	41.372.354

Complete balance-sheet for the year

31/01/2008

(in Eur

x 1)

Item Type	Value
Sales	806.990.693
Profit (Loss) for the period	37.550.145

Balance Sheets

From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.

- Balance Sheet as at 31/01/2012 - 12 Mesi - Currency: - Amounts x 1

- Balance Sheet as at 31/01/2011 - 12 Mesi - Currency: - Amounts x 1

- Balance Sheet as at 31/01/2010 - 12 Mesi - Currency: - Amounts x 1

Years

2012

2011

2010

BALANCE SHEET ACCOUNTS

ASSETS
CREDITS VS PARTNERS
. Deposits not yet withdrawn
. Deposits already withdrawn
Total credits vs partners
FIXED ASSETS
. INTANGIBLE FIXED ASSETS
. . Start-up and expansion expenses	341.969
. . Research,develop. and advert.expens.
. . Industrial patent rights	1.650.488	2.280.515	1.750.445
. . Concessions,licenses,trademarks,etc.	61.132.330	77.790.129	95.042.689
. . Goodwill	30.964.859	38.379.121	45.997.302
. . Assets in formation and advance paymen.	67.581	146.349	407.628
. . Other intangible fixed assets	33.496.911	33.432.044	38.677.308
. Total Intangible Fixed Assets	127.654.138	152.028.158	181.875.372
. TANGIBLE FIXED ASSETS
. . Real estate	36.407.809
. . Plant and machinery		37.598.386	42.969.555
. . Industrial and commercial equipment	40.489.219	41.103.968	49.116.318
. . Other assets	1.223.371	3.695.376	3.706.912
. . Assets under construction and advances	310.719	105.534	274.924
. Total Tangible fixed assets	78.431.118	82.503.264	96.067.709
. FINANCIAL FIXED ASSETS
. . Equity investments	22.232.719	20.763.635	19.472.393
. . . Equity invest. in subsidiary companies	19.470.000	19.470.000	19.470.000
. . . Equity invest. in associated companies	2.756.512	1.287.428
. . . Equity invest. in holding companies
. . . Equity invest. in other companies	6.207	6.207	2.393
. . Financial receivables	1.384.204	1.014.301	957.581
. . . . Within 12 months
. . . . Beyond 12 months	1.384.204	1.014.301	957.581
. . . Receivab due from subsidiaries
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from assoc.comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from third parties	1.384.204	1.014.301	957.581
. . . . Within 12 months
. . . . Beyond 12 months	1.384.204	1.014.301	957.581
. . Other securities
. . Own shares
. . . Total nominal value
. Total financial fixed assets	23.616.923	21.777.936	20.429.974
Total fixed assets	229.702.179	256.309.358	298.373.055
CURRENT ASSETS
. INVENTORIES
. . Raw materials and other consumables
. . Work in progress and semimanufactured
. . Work in progress on order
. . Finished goods	198.295.897	175.035.997	135.894.678
. . Advance payments
. Total Inventories	198.295.897	175.035.997	135.894.678
. CREDITS NOT HELD AS FIXED ASSETS
. . Within 12 months	78.610.556	125.418.313	82.067.552
. . Beyond 12 months
. . Trade receivables	14.335.282	10.305.484	5.126.987
. . . . Within 12 months	14.335.282	10.305.484	5.126.987
. . . . Beyond 12 months
. . Receivables due from subsid. comp.	8.635.425	9.080.354	13.617.379
. . . . Within 12 months	8.635.425	9.080.354	13.617.379
. . . . Beyond 12 months
. . Receivables due from assoc. comp.	10.614.666	32.531.939	197.508
. . . . Within 12 months	10.614.666	32.531.939	197.508
. . . . Beyond 12 months
. . Receivables due from holding comp.	4.230.620	41.371.738	35.565.748
. . . . Within 12 months	4.230.620	41.371.738	35.565.748
. . . . Beyond 12 months
. . Fiscal Receivables	2.205.299	10.344	118.081
. . . . Within 12 months	2.205.299	10.344	118.081
. . . . Beyond 12 months
. . Receivables for anticipated taxes	34.753.996	30.007.387	25.582.859
. . . . Within 12 months	34.753.996	30.007.387	25.582.859
. . . . Beyond 12 months
. . Receivables due from third parties	3.835.268	2.111.067	1.858.990
. . . . Within 12 months	3.835.268	2.111.067	1.858.990
. . . . Beyond 12 months
. Total Credits not held as fixed assets	78.610.556	125.418.313	82.067.552
. FINANCIAL ASSETS
. . Equity invest. in subsidiary comp.
. . Equity invest. in associated companies
. . Equity invest. in holding companies
. . Other equity investments
. . Own shares
. . . Total nominale value
. . Other securities
. Total Financial Assets
. LIQUID FUNDS
. . Bank and post office deposits	299.188	189.064	93.773
. . Checks
. . Banknotes and coins	3.886.885	3.786.888	4.003.424
. Total Liquid funds	4.186.073	3.975.952	4.097.197
Total current assets	281.092.526	304.430.262	222.059.427
ADJUSTMENT ACCOUNTS
. Discount on loans
. Other adjustment accounts	18.080.988	15.076.447	15.183.786
Total adjustments accounts	18.080.988	15.076.447	15.183.786
TOTAL ASSETS	528.875.693	575.816.067	535.616.268

LIABILITIES
STOCKHOLDERS' EQUITY
. Capital stock	20.015.500	20.015.500	20.015.500
. Additional paid-in capital	413.938	111.499.963	111.499.963
. Revaluation reserves
. Legal reserve	4.003.100	4.003.100	4.003.100
. Reserve for Own shares
. Statute reserves
. Other reserves	1.522.223	1.450.988	1.341.354
. Accumulated Profits (Losses)	227.015	227.015	227.015
. Profit( loss) of the year	477.206	52.712.000	43.743.424
. Advances on dividends
. Partial loss of the year Coverage
Total Stockholders'Equity	26.658.982	189.908.566	180.830.356
RESERVES FOR RISKS AND CHARGES
. . Reserve for employee termination indem.	106.190
. . Taxation fund, also differed	3.257.302	3.466.079	3.465.165
. . Other funds	3.869.109	3.152.545	1.730.342
Total Reserves for Risks and Charges	7.232.601	6.618.624	5.195.507
Employee termination indemnities	30.985.632	32.913.929	35.781.994
ACCOUNTS PAYABLE
. . . . Within 12 months	402.306.703	289.331.956	256.090.371
. . . . Beyond 12 months	52.061.516	49.077.069	49.077.069
. . Bonds
. . . . Within 12 months
. . . . Beyond 12 months
. . Convertible bonds repayable
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to shareholders for financing
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to banks	53.834.731	49.077.081	51.695.857
. . . . Within 12 months	1.773.215	12	2.618.788
. . . . Beyond 12 months	52.061.516	49.077.069	49.077.069
. . Due to other providers of finance
. . . . Within 12 months
. . . . Beyond 12 months
. . Advances from customers
. . . . Within 12 months
. . . . Beyond 12 months
. . Trade payables	240.666.114	217.379.644	188.136.318
. . . . Within 12 months	240.666.114	217.379.644	188.136.318
. . . . Beyond 12 months
. . Securities issued
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to subsidiary companies	5.684	178
. . . . Within 12 months	5.684	178
. . . . Beyond 12 months
. . Due to associated companies	5.670.698	2.736.734	1.392.828
. . . . Within 12 months	5.670.698	2.736.734	1.392.828
. . . . Beyond 12 months
. . Due to holding companies	99.385.513	31.492.394	23.648.145
. . . . Within 12 months	99.385.513	31.492.394	23.648.145
. . . . Beyond 12 months
. . Due to the tax authorities	23.271.156	17.403.594	21.376.007
. . . . Within 12 months	23.271.156	17.403.594	21.376.007
. . . . Beyond 12 months
. . Due to social security and welfare inst.	3.739.880	3.804.430	3.360.321
. . . . Within 12 months	3.739.880	3.804.430	3.360.321
. . . . Beyond 12 months
. . Other payables	27.794.443	16.514.970	15.557.964
. . . . Within 12 months	27.794.443	16.514.970	15.557.964
. . . . Beyond 12 months
Total accounts payable	454.368.219	338.409.025	305.167.440
ADJUSTMENT ACCOUNTS
. Agio on loans
. Other adjustment accounts	9.630.259	7.965.923	8.640.971
Total adjustment accounts	9.630.259	7.965.923	8.640.971
TOTAL LIABILITIES	528.875.693	575.816.067	535.616.268

MEMORANDUM ACCOUNTS

Third party goods
Investment accounts
Risk accounts
Civil and fiscal norms relation

PROFIT AND LOSS ACCOUNTS

VALUE OF PRODUCTION
. Revenues from sales and services	939.177.616	961.352.781	861.274.537
. Changes in work in progress
. Changes in semi-manufact. products
. Capitalization of internal work
. Other income and revenues	33.398.425	29.157.111	21.657.030
. . Contributions for operating expenses
. . Different income and revenues	33.398.425	29.157.111	21.657.030
Total value of production	972.576.041	990.509.892	882.931.567
PRODUCTION COSTS
. Raw material,other materials and consum.	504.312.220	495.131.052	373.143.292
. Services received	123.921.861	124.789.717	120.088.235
. Leases and rentals	112.229.779	107.517.920	106.308.287
. Payroll and related costs	143.125.574	143.886.956	136.492.088
. . Wages and salaries	102.753.568	103.526.224	98.471.614
. . Social security contributions	31.590.891	31.912.264	30.186.645
. . Employee termination indemnities	8.034.567	7.769.218	7.465.247
. . Pension and similar
. . Other costs	746.548	679.250	368.582
. Amortization and depreciation	53.376.371	54.546.577	54.003.315
. . Amortization of intangible fixed assets	31.973.834	32.381.695	32.152.547
. . Amortization of tangible fixed assets	21.402.537	21.510.764	20.944.426
. . Depreciation of tangible fixed assets		449.980	704.000
. . Writedown of current receiv.and of liquid		204.138	202.342
. Changes in raw materials	-16.616.398	-39.141.319	9.805.773
. Provisions to risk reserves	1.950.000	1.601.013	200.000
. Other provisions
. Other operating costs	14.291.275	13.473.549	14.541.301
Total production costs	936.590.682	901.805.465	814.582.291
Diff. between value and cost of product.	35.985.359	88.704.427	68.349.276
FINANCIAL INCOME AND EXPENSE
. Income from equity investments			2.694.408
. . In subsidiary companies
. . In associated companies
. . In other companies
. Other financial income	148.642	80.060	56.389
. . Financ.income from receivables
. . . Towards subsidiary companies
. . . Towards associated companies
. . . Towards holding companies
. . . Towards other companies
. . Financ.income from secur. t.f.assets
. . Financ.income from secur. cur.assets
. . Financ.income other than the above
. . . - Subsidiary companies
. . . - Associated companies
. . . - Holding companies
. . . - Other companies
. Interest and other financial expense	-17.321.993	-6.282.154	-2.608.341
. . Towards subsidiary companies
. . Towards associated companies
. . Towards holding companies
. . Towards other companies
Total financial income and expense	-17.173.351	-6.202.094	142.456
ADJUSTMENTS TO FINANCIAL ASSETS
. Revaluations
. . Of equity investments
. . Of financ.fixed assets not repres.E.I.
. . Of securities incl.among current assets
. Devaluation
. . Of equity investments
. . Of financial fixed assets (no equity inv)
. . Of securities included among current ass
Total adjustments to financial assets
EXTRAORDINARY INCOME AND EXPENSE
. Extraordinary income	2.463.339	3.422.542	2.161.486
. . Gains on disposals
. . Other extraordinary income	2.463.339	3.422.542	2.161.486
. Extraordinary expense	-11.155.231	-712.992	-642.871
. . Losses on disposals
. . Taxes relating to prior years
. . Other extraordinary expense	-11.155.231	-712.992	-642.871
Total extraordinary income and expense	-8.691.892	2.709.550	1.518.615
Results before income taxes	10.120.116	85.211.883	70.010.347
. Taxes on current income	9.642.910	32.499.883	26.266.923
. . current taxes
. . differed taxes(anticip.)
. Net income for the period	477.206	52.712.000	43.743.424
. Adjustments in tax regulations pursuance
. Provisions in tax regulations pursuance
. Profit (loss) of the year	477.206	52.712.000	43.743.424

RATIOS	Value Type	as at 31/01/2012	as at 31/01/2011	as at 31/01/2010	Sector Average
COMPOSITION ON INVESTMENT
Rigidity Ratio	Units	0,43	0,45	0,56	0,13
Elasticity Ratio	Units	0,53	0,53	0,41	0,85
Availability of stock	Units	0,37	0,30	0,25	0,54
Total Liquidity Ratio	Units	0,16	0,22	0,16	0,22
Quick Ratio	Units	0,01	0,01	0,01	0,04
COMPOSITION ON SOURCE
Net Short-term indebtedness	Units	14,93	1,50	1,39	4,36
Self Financing Ratio	Units	0,05	0,33	0,34	0,14
Capital protection Ratio	Units	0,23	0,62	0,65	0,56
Liabilities consolidation quotient	Units	0,21	0,28	0,33	0,15
Financing	Units	17,04	1,78	1,69	5,86
Permanent Indebtedness Ratio	Units	0,21	0,47	0,50	0,31
M/L term Debts Ratio	Units	0,16	0,14	0,16	0,10
Net Financial Indebtedness Ratio	Units	1,86	0,24	0,26	0,98
CORRELATION
Fixed assets ratio	Units	0,48	1,06	0,89	2,02
Current ratio	Units	0,70	1,05	0,87	1,15
Acid Test Ratio-Liquidity Ratio	Units	0,21	0,45	0,34	0,36
Structure's primary quotient	Units	0,12	0,74	0,61	1,06
Treasury's primary quotient	Units	0,01	0,01	0,02	0,07
Rate of indebtedness ( Leverage )	%	1983,86	303,21	296,20	707,22
Current Capital ( net )	Value	-121.214.177	15.098.306	-34.030.944	61.776
RETURN
Return on Sales	%	5,73	11,16	11,35	2,62
Return on Equity - Net- ( R.O.E. )	%	1,79	27,76	24,19	6,19
Return on Equity - Gross - ( R.O.E. )	%	37,96	44,87	38,72	15,72
Return on Investment ( R.O.I. )	%	6,80	15,40	12,76	3,25
Return/ Sales	%	3,83	9,23	7,94	2,94
Extra Management revenues/charges incid.	%	1,33	59,42	64,00	31,16
Cash Flow	Value	53.853.577	107.258.577	97.746.739	20.178
Operating Profit	Value	35.985.359	88.704.427	68.349.276	23.558
Gross Operating Margin	Value	91.311.730	144.852.017	122.354.591	40.605
MANAGEMENT
Credits to clients average term	Days	5,49	3,86	2,14	26,46
Debts to suppliers average term	Days	168,09	124,52	128,00	152,76
Average stock waiting period	Days	76,01	65,55	56,80	158,60
Rate of capital employed return ( Turnover )	Units	1,78	1,67	1,61	1,10
Rate of stock return	Units	4,74	5,49	6,34	2,21
Labour cost incidence	%	15,24	14,97	15,85	10,29
Net financial revenues/ charges incidence	%	-1,83	-0,65	0,02	-1,31
Labour cost on purchasing expenses	%	15,28	15,96	16,76	10,25
Short-term financing charges	%	3,81	1,86	0,85	2,10
Capital on hand	%	56,31	59,90	62,19	90,76
Sales pro employee	Value	214.033	221.051	204.045	267.102
Labour cost pro employee	Value	32.617	33.085	32.336	30.754

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.65
UK Pound	1	Rs.82.66
Euro	1	Rs.71.21

INFORMATION DETAILS

Report Prepared by :

MNL

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	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
----	NB	New Business	----

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%)

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