Circular Letter Nº 194 "Cancellation of CEFINDESAR’s registration "

On Wednesday, October 19th, 2011 the Santiago Chamber of Commerce canceled the “Real Estate Development Investment Fund, in Liquidation” (CEFINDESAR) as the Investment Funds Administration company, Independencia S.A., advised of the decision to approve the final account presented by the Administrator in the Depositors’ Extraordinary Meeting held on the 30th of September 2011.

The Administrator also advised that Fund Depositors would be reimbursed the value of their installments as per their value on the day immediately preceding the date set for payment. This payment will be executed as of Monday, October 24th, 2011 at the offices of the administrating dompany located at Coyancura N°2.283, suite 1102, Providencia, Santiago, from Monday to Friday between 9:00 and 18:00 hours. In turn, electronic funds transfers will be made as of the same date, in the corresponding demand deposit accounts as instructed by Depositors.

The depositors division of the company for the Real Estate Fund, CFINRENTAS, will continue to be serviced at the DCV Registries offices located in Huérfanos 770, floor 22, Santiago Centro.

According to the provisions set forth in DCV’s internal regulation (number 6.1.3), depositors who hold installment positions issued by the “Real Estate Development Investment Fund, in Liquidation” (CEFINDESAR), as of the present communication, shall withdraw those securities within a period of 30 days.

In the event you require any further information please contact; telephone (56) 393 9285, Huérfanos 770, Floor 22 Santiago Centro, or the Customer Service Desk, MAC at This email address is being protected from spambots. You need JavaScript enabled to view it. or telephone (56 2) 393 9001

Yours sincerely,
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES.

Fernando Yáñez González
General Manager
Santiago, october 21, 2011