Duncan Fox S.A. Stock

Duncan Fox SA is a Chile-based holding company. The Company’s main activities include the administration of its 40.51% stake in the joint venture Sociedad Pesquera Coloso SA, a company engaged in the processing of fish flours, sea canned food and the aquaculture of salmons; the provision of hostelry services, through the operation of the Holiday Express Inn hotels chain; the processing and distribution of fresh and frozen horticultural products, as well as in the import and distribution of ready meals, and the development of real estate projects in Argentina. As of December 31, 2011 the Company owned such subsidiaries as Talbot Hotels SA, Inversiones El Ceibo SA, Inversiones Los Olivillos SA, Maguey Shipping SA and Inversiones Los Cerezos SA.