Información estrictamente confidencial

CLIENT PROFILE
The client profile is a description of the basic qualitative aspects of the business of the credit applicant. This complements all
financial and legal information and is a key element for the evaluation and decision making process of the credit process in Banco
GyT Continental.
Reglamento de Administración de Riesgo de Crédito – Resolución de Junta Monetaria del Banco de Guatemala JM-93-2005.

Place and Date of request: San Salvador December 04, 2007San

Relationship Manager Graciela Garcia

Place of Request Banco GyT Continental El Salvador

1. General Information

Legal company name Texspin, S.A. de C.V.

Commercial Name Texspin, Spintex

(NIT) 0614-071106-101-9

Economic activity the company

Textile Manufacturing
dedicates itself to

Address: Zona Franca El Pedregal Edificio 10-B Kilometro 46 ½ Carretera a la Herradura

Phone Numbers (503)2334-6676 Fax: N /A

Legal Representative
Web Site yarntex.com Spiros Pantiziris
of Company:
Country: El Salvador City:
El Rosario, La Paz
Country in which the proceeds
El Salvador
from the loan will be applied

2. Loan Information

Type of Facility: Revolving line of Credit

Amount required: $500,000.00

Partial disbursements:

Form of Payment: Grace Period

Term: Collateral: Full Security

Specific purpose of the funds: Working capital

3. Main Shareholders and percentage of participation in company

Full name of shareholder % of participation in company

%
Refer to Letter %
%
%
%
%
4. Members of the Board of Directors

Full Name Position Years in Board of Directors

Departamento de Análisis de Créditos Corporativo G&T – RS – versión 2- Ag. 2006 1 de 7

 Refer to Letter

5. Name of companies where the applicant has a participation in capital, when investment represents more than
25% of the contributed capital

Name of the companies where the applicant has participation in capital (shares) % of participation in relation to applicants
contributed capital
%
N/A %
%
%
%

6. Administration: Indicate the names of the managers of the company

Full Name Age Profession Position in the Company Amount of time in

company

Spiros Pantziris 47 years Engineer CEO 15 Years

7. Companies that make up the economic group

Commercial Name Affiliates Nit Country Commercial Activity

Cobalt Capital Partners Canada Investment Fund

PAJNA S.A. Panama

Name of Holding Company N/A Country N/A

8. EVOLUTION AND COMPOSITION OF SALES of the last years and projections 2007

Composition of
annual sales 2003 2004 2005 2006 Budget 2008
Información estrictamente confidencial

Total sales
5M
EBITDA 1.3M
% local sales % % % % %
% sales in other
% % % % 100%
countries
% of sales in
% % % % 100%
dollars
% of sales in
% % % % %
foreign currency

9. Composition of annual sales by trimester

% of sales % of sales % of sales % of sales

first trimester Second trimester Third trimester Fourth trimester
10% 30% 30% 30%

10. Explain the seasonality of the business indicating the months of lower and higher levels of sales and the cause of such

No seasonality

11. Description of the products and services that the company produces or commercializes

Business % contribution
Products/ Countries where it % Market
Segment or Target to 100% of Primary competitor
Services sells products Participation
Market sales
Yarn Textile 41 % 80% Textile Products from China
Fleece Fabric Textile % 20% Textile Products from China
% %
% %
% %
% %
% %

12. CLIENTS. Indicate the clients that represent 80% of the total annual sales

Product or Terms of Sale Form of payment (wire Percentage of

Client Name Country services it (Credit, term, transfer, check, Money sales to 100% of
purchases contract) order, standby LC) sales
Refer to Letter %
%

Departamento de Análisis de Créditos Corporativo G&T – RS – versión 2- Ag. 2006 3 de 7

 %
%
%
%
%
%
Description of the sales policy
(Term of credit, amounts, form of
payment)

13. SUPPLIERS. Indicate the suppliers that represent 80% of your annual purchases

Form of Payment
Terms of Sale
Product or service (wire transfer, Percentage of purchases
Supplier’s Name Country (Credit, Term,
it supplies check, Money to 100% of purchases
Contract)
order, standby LC)
Montefibre Spain Fiber L/C 120 Bank Draft 35%
Clip Collector N/A Clips Net 30 Wire Check 65%
%
%
%
%
%
Percentage of National Percentage of purchases in
30% 70%
Purchases foreign countries

14. DISTRIBUTIONS AND LOGISTICS

Describe your distributions channel

• Producer– Consumer
• Producer – Wholesale-Consumer
Producer - Producer
• Number of points of sale
1 pt. of Sale
• Are the points of sale leased?
¿Do you use Storage Company Name of the
services? No Storage N/A
Yes/ No Company

10. INSURANCE: indicate the risks covered, policies’ expiration date, insured assets, and Insurance company’s
name
Is your insurance Expiration date of
Covered Risks Amount Insured Insurance Company Name
policy effective? insurance policy
Earthquake, fire, and
allied lines Yes June 2008 $2M AIG

Machinery and
Equipment Yes June 2008 $ 10 M AIG

Vehicles and other

transportation
Yes June 2008 mcl AIG

Computer Equipment Yes June 2008 mcl AIG

Inventory Yes June 2008 $2M AIG

Work in Process Yes June 2008 mcl AIG

Interruption of labor Yes June 2008 $1M AIG

Performance Bond
(Fulfillment of
production budgets as
N/A
stipulated in contracts)

Insurance Company
AIG
Información estrictamente confidencial

11. BANKS: Short and long term obligations with other Banks: Indicate the type of loan.

Name of
Type of Purpose of Expiration Balance to Payment Interest
Financial Term Original Amount Collateral
Loan Loan of Term date Form Rate
Institution
EDC Open Install 10 Years $ 1.2 M $ 1.2 M None 0%

12. PRODUCTS AND SERVICES GENERALLY UTILIZED IN FINANCIAL INSTITUTIONS:

Indicate the bank’s name. In Certificates of Deposit indicate the average monthly balance. In other products
mark with an X the products and services utilized.

FX Purchases
We W
Certificates of Indicate currency Tax
b P ire
Name of Financial Deposit (indicate purchased and Pay
Ban ayr Tra
Institution average monthly monthly average me
kin oll nsf
balance) balance nts
g ers
N/A

13. LEASING CONTRACTS – Description of leasing contracts, operating lease, financial lease, lease back
operations

Type of Lease
Suppliers Name Operating Monthly Value of
Type of Fixed Asset Value of Contract Term of Contract
Lease Company Financial leasing
Lease Back

N/A

¿How does the company reflect leasing operations in the balance

sheet) (Are they reflected as a liability)

14. OUTSOURCING SERVICES: Administrative or production processes that are outsourced

Is there a Expiration date of

Supplier’s Name Type of Service Term of Contract Monthly Payment
Contract Contract

N/A

Departamento de Análisis de Créditos Corporativo G&T – RS – versión 2- Ag. 2006 5 de 7

 15. HUMAN RESOURCES: Indicate the number of personnel hired in the past 4 years and Human Resource
management policies

2004 2005 2006 2007

Is there a credit policy for

employees?
Is there a universal policy for
Yes No
Compensation or severance
payments?

Is there a Union?
No

16. Accounting Policies

Policy for the creation of

Policy for reserves for
reserves for obsolete or
unobtainable accounts Yes Yes
damaged merchandise?
receivables (client debt)
Policy for the creation of
reserves for investment in
Yes Dividend Payout Policy Yes
obsolete technology

Policy for sales or

Policy for the creation of
intercompany loans
reserves for labor liabilities Yes Yes
between subsidiaries or
related companies

17. ACCOUNTING METHODS:

Inventory valuation method Depreciation and

Cost 10 Years Straight Line
LIFO, FIFO, average Amortization Method

18. Indicate the existence of any accounting fiscal, or legal contingency that may affect the contributed capital of
the company

None

19. Business Opportunities derived from the Free Trade Agreement: A brief description of the way the company
will assume business opportunities and threats derived from the various free trade agreements from the
perspective of your business plan and strategies applicable in product development.
Información estrictamente confidencial

Refer to Business Plan

Legal Representative Relationship Manager

Signature Signature
Spiros Pantziris
CEO

Departamento de Análisis de Créditos Corporativo G&T – RS – versión 2- Ag. 2006 7 de 7