MEMORY AND STRUCTURE

PECMAR -"Pesqueria y Cultivos Marinos, S.A.C." was founded in 2003, when it obtained the first concession of 41,5 hectares in "Bahia de Samanco, Carretera Panamericana Norte (CPN) Km. 410, Ancash , PERU".

Since its commencement PECMAR has carried out the cultivation of Coquille St. Jacques (Scallops) using the Long Line method, otherwise known as the suspended system.

Since then it has always been our objective to achieve a quality product, revising and controlling the product in order to obtain a high quality standard suitable for the most demanding of markets.

In the year 2006 we obtained a new concession next door to the previous one, also of 41,5 hectares, in which we doubled our productive capacity, which is now about 200 tons IQF.

These concessions are inscribed in the Registry of Areas habilitated by DIGESA -Public Health Directorate General- with the Code ZPC-RN-SAN-013 of the "Bahia de Samanco", Code 011.

In order to program our future growth we have recently been given an area in Sechura of 200 hectares.

We are also negotiating a further 200 hectares in the area of Casma which is near to our present installations.

On the beach opposite our present concessions, PECMAR has a camp with a surface area of 2.000 metres which houses the laboratory, maintenance zone, stores, dormitories, dressing rooms etc.

The Company offices are located in the centre of the town called Chimbote, near to the cultivation area.

In this same town and in an industrial area PECMAR has an industrial depot for the cleaning and subsequent elimination of residuals of the cleaning of deactivated systems.

In the area of cultivation there are:

Two work platforms with mechanical sieve.
Two embarkations with cranes and winches for deactivation of systems.
Four embarkations for sowing.

Two embarkations with diver and compressor for inspection, monitoring and refloats.

Our human resources are of great value to us, due to their collaboration, work and responsibility we are achieving our desired goals.
Sixty people now work in PECMAR in different working zones:

Deactivation of systems and sowing.
Divisions in platforms / rigs.
Transfers and transports.
Divers.
Chauffeurs and machinists.
Collections.
Monitoring.
Systems maintenance.
Offices and storerooms, etc.
The management team, except for the General Manager and Administrative Director is made up of 5 biologists and engineers, in charge of:

• General Technical Manager in charge of all works in general.
• Cultivation Chief, responsible for sowing, dividing and harvesting.
• Chief Monitor at sea, and assistant, responsible for monitoring and control of the product during the productive process.
• Quality control and expedition chief, working permanently in the Plant for the direct control and follow up on our behalf of the primary process, freezing, packaging and expedition of our product.

Chimbote, May 2007