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Wednesday, 12/06/2006 10:06:52 PM

Wednesday, December 06, 2006 10:06:52 PM

Post# of 114953
PDR:

A PDR is a dollar-denominated negotiable certificate, issued in the Republic of Panama, that represents beneficial ownership of shares in publicly traded companies and/or real estate properties. The structure of a PDR includes a ratio, which correlates the receipt to the real value it represents.

The PDR representing beneficial ownership of shares can be cancelled for its underlying shares at any time. Also, it is negotiable and may be transferred at its current value to a third party through Fundacion PayPro or a designated agent.

The PDR representing beneficial ownership of real estate is negotiable and may be transferred at its current value to a third party through Fundacion PayPro or a designated agent.

PDRs are exclusively for Beneficiaries of FUNDACION PAYPRO, a Panamanian Private Interest Foundation constituted in accordance with Law 25, of 25th June 1995 of the Republic of Panama. It is legally authorized to act as a depository for any type of real or financial assets and to hold such assets in safekeeping on behalf of and for the benefit of its beneficiaries which may be legal entities or natural persons of good standing.


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