Approval of the Preemptive Legal Agreement of Empresas La Polar S.A. 

Messrs
Participants:

 We hereby inform that DCV has been formally notified of the Approval of the Preemptive Legal Agreement of Empresas La Polar S.A., regarding which we highlight the following:

1. Credit payability is suspended and the totality of credits is extended until the Suspension Condition established is met or until 31 July of 2012. 
2. The previous term may be extended by the Creditors Commission under the terms established. 
3. The Suspension Condition requires that Empresas La Polar S.A. agree to, and place a capital increase in order to pay in cash the shares actually issued and enter within the term expiring on 31 July 2012 in the corporate treasury, an amount of no less than $120 billion - in cash.
4. Once the condition has been met, new terms will begin to apply for credit payment in the terms set forth by the agreement.

Download Specific Terms of the Agreement (SPANISH ONLY)

Sincerely yours,

Depósito Central de Valores; Depósito de Valores S.A.

Javier Jara Traub
Legal Affairs Manager and Product Development