To the Board of Directors of PROYCONTEC, S.L.
We have audited the financial statements of PROYCONTEC, S.L. which form the balance sheet as of December 31, 2006, the profit and loss account and the notes to the financial statements for the year then ended. The preparation of these financial statements is responsibility of the Directors of the Company. Our responsibility is to express an opinion on these financial statements based on our work performed in accordance with generally accepted auditing standards, which require the examination, by means of selective tests, of the documentation supporting the financial statements and evaluation of their presentation, of the accounting principles and of the estimates made.
According to the mercantile legislation, the Administrators of PROYCONTEC, S.L. present besides comparative balance sheet as of December 31, 2006, the profit and loss account, the financing chart and the figures to the financial statements for the year then ended. Our audit opinion refers only to the financial statements as of December 31, 2006. Other auditors issued an audit report as of June 15, 2006 for the year ended at December 31, 2005, in which they expressed a favorable opinion.
In our opinion, the financial statements 2006 show, in all material respects, a true and fair view of the equity and financial situation of PROYCONTEC, S.L., as of December 31, 2006 and of the results of their operations and resources obtained and applied during the year and contain the enough and necessary information to be appropiately interpreted and understood, required by the International Financial Reporting Standards which are uniform as the one applied in the preparation of the previous financial statements.
The accompanying management report for the year 2006 contains the explanations which the Directors of PROYCONTEC, S.L consider appropriate about the Company situation, the evolution of its business and other matters, but it is not an integral part of the financial statements. We have checked that the accounting information in the above-mentioned management report is consistent with that contained in the financial statements for 2006. Our work as auditors is confined to checking the management report with the aforementioned scope and does not include a review of any information other than that drawn from the accounting records of the Company.
Signed: Rafael Gómez García
Partner-auditor
Malaga, June 15, 2007