The repeat extraordinary General Assembly of Shareholders of preferred shares of MICHANIKI S.A. that was held on Tuesday the 15th of October 2002, approved all issues of the agenda.

More specifically, the General Assembly approved the decisions made by the Extraordinary General Assembly of Shareholders of common shares, held on September 27, 2002 and the share capital increase, totaling ? 774,220.95, as well as the amendment of articles 5 and 27 of the Chapter about the Share Capital through a capitalization of the following reserves:

a) The total difference from the revaluation of reserves ‘Difference from the revaluation of other fixed assets' amounting to ? 93,205.14 and
b) Part of the reserves ‘Difference from the issue of shares above par' amounting to ? 681,025.81, through the increase of the nominal share value (common and preferred) from ? 1.47 to ? 1.48.

The Company's share capital amounted to ? 113,810,479.65, divided into 77,422,095 shares of nominal value ? 1.47 and specifically into a) 55,781,272 common shares and b) 21,640,823 preferred shares. Now, after the share capital increase it amounts to ? 114,584,700.60 divided into 77,422,095 common and preferred shares of nominal value ? 1.48 and specifically into a) 55,781,272 common shares and b) 21,640,823 preferred shares.