Company Grupo Financiero Valores S.A.

Grupo Financiero Valores Sociedad Anonima, formerly Mercado de Valores de Buenos Aires SA (Merval), is an Argentina-based company engaged in financial and investment activities. The Company operates through two segments: Investment activity and Banking activity, which comprises the activities of Banco de Valores SA, the Company's subsidiary. Banco de Valores SA serves as a trustee and escrow agent of collective investments, such as trusts and mutual funds, an issuer of corporate and government securities, including shares and debt instruments, and an underwriter of initial public offerings (IPOs) on Argentinean capital market. The Company's subsidiaries also include Mercado de Futuros y Opciones SA, which specializes in brokerage of futures contracts and options.