Circular Letter Nº 188 "Information of MILA"

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Circular Letter N° 188

Circular	Appendix	Date	Reference	Status	Download
188	yes	05.30.2011	Information of MILA	In effects

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

Dear Participant

In the context of the Latin-American Integrated Market (MILA) project with the stock markets of Colombia and Peru and in compliance with what is stated in Title 16 of the Internal Rules of DCV, we inform you that DCV has been admitted as Depositor of DECEVAL S.A. and CAVALI I.C.L.V., entities of securities deposit in Colombia and Peru respectively. DECEVAL and CAVALI have been admitted as Depositors of DCV as well.

We hereby inform our Depositors on the form of operation with these securities and on the regulation that will regulate this service.

1- The foreign securities that are acquired in MILA will be kept in the country of origin of the security (Peru and Colombia), in omnibus or global accounts opened by DCV, in the respective security deposits of these countries and these securities will be reflected in the DCV system.

2- For all the legal effects that may occur, the Peruvian and Colombian securities that are traded inside MILA will be kept in custody by the DCV, and the rules of their country of origin with their respective modifications will be applicable.
3-The negotiation of the foreign securities will be informed to the DCV by the Depositors through the Registration Form of International Operations (FROI).

(SPANICH ONLY) To download Registration Form of International Operations (FROI)

4- The capital events will be informed directly to DCV by DECEVAL and CAVALI and will be subject to the current operating practices in DCV regarding the information that the latter will provide its Depositors

5-The proprietary equities will be paid in the currency and in the country of origin of the security where DCV receives the payment; therefore each Depositor must instruct DCV to send the funds to an account abroad or to a local account in the country of origin of the security.

6-The clearing and settlement of securities will be performed in the form and by the corresponding entities, according to the laws of the country of origin of the security.

7- The foreign securities that DCV keep on behalf of its Depositor in the deposits of securities in Colombia and Peru - their movements and position balances -, will be reflected locally in the special position accounts that DCV will open in the SADE system for that purpose. Each Depositor will be able to have access to inquire mentioned accounts through the application that DCV will make available.

8- The service will be ruled by the provisions of the Internal Rules of DCV, especially the ones contained in the title: Custody of Foreign Securities; by the terms agreed in the Appendix of International Custody; by the provisions of the Operational Guidance of the Integrated Market; by the Rate Form and Operational Expenses of Integrated Market – the latter are informed together with this circular – and; by the special rules that the Deposits of Securities of Peru and Colombia impose DCV to operate, to which the Depositors will have access to on the website of DCV or directly from their own deposit of foreign securities.

(SPANISH ONLY) To download the Operational Guidance of Integrated Market

(SPANISH ONLY) To download Rate Form and Operational Expenses of Integrated Market

9- In the case of Depositors who operate on behalf of third parties, it will be their responsibility to inform their mandates of all the rules referred to above, the fact that they are binding on them, and obtain from their mandates the statements and authorizations that are relevant according to such rules, including those necessary to comply with regulatory requirements of the Colombian and Peruvian markets to reveal their identification.

10- The Depositors who are interested must sign the respective Appendix of International Custody current with DCV and the agreements of service with the brokers of the foreign markets and must have been authorized by the respective Stock Exchange

If you have any inquiries please send them to Mirna Fernández Durán, This email address is being protected from spambots. You need JavaScript enabled to view it., 56 2 393-9235 Claudia Soto, This email address is being protected from spambots. You need JavaScript enabled to view it. 56 2 393-9366 or to the email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Sin otro particular, saludamos atentamente a usted,

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

Fernando Yañez Gónzalez

general Manager

Santiago, May 30, 2011