As of Iune 30 2008 As of Iune 30 2007

8a|ance Sheet (LL)

Assets
1ota| assets $ 3600000000 $ 4100000000
L|ab|||t|es
8ank |oans 14 $ 1200000000 $ 800000000
8onds 10 $ 3000000000 $ 2000000000
Issued cap|ta| $ 1000000000 $ 1000000000
keta|ned earn|ngs $ 400000000 $ 300000000
1ota| L|ab|||t|es $ 3600000000 $ 4100000000

As of Iune 30 2008 As of Iune 30 2007
rof|t Loss Statemen
Less Interest $ (468000000) $ (312000000)
L81 $ 612000000 $ 338000000
Less 1ax 40 $ (244800000) $ (213200000)
Net Income $ 367200000 $ 322800000
LS Q 1000000 share $ 367 $ 323

As of Iune 30 2008 As of Iune 30 2007
I|nd|ngs
Debt from Loan 2143 1931
Debt from bonds 3337 4878
We|ghted Average kd 1114 1114
1ota| Debt 7300 6829
1ota| Lqu|ty 2300 3171

lrom Lhe prevlous analysls we could reach Lhe followlng facLs
9 grew from 323 Lo 367 (le 137S 9 growLh)
ebL percenLage lncreased from 6829 Lo 7S
Conc|us|on We 'd recommend pursulng Lhe acqulslLlon of eaLlon for Lhe followlng reasons
9 growLh lndlcaLes LhaL Lhe flrm ls growlng
eaLlon ls flnanclng lLs caplLal from debL whlch slgnals a poLenLlal brlghL prospecL
We would also recommend Lo opLlmlze Lhe caplLal sLrucLure ln order Lo maxlmlze Lhe
markeL share prlce 1he currenL debL raLlo (73) looks qulLe hlgh