Cisneros Group Denies Involvement with Investments of the City Council of Seville in Dominican Republic

Caracas  - July 25, 2009

Mr. Angel Expósito
Director
DIARIO ABC-Nacional

Dear Mr. Expósito:

We send a cordial greeting on behalf of the Cisneros Group.

This letter is intended to reject, categorically, the information published in the ABC Seville newspaper on July 20th and 21st of this year and republished in the ABC National edition, with regards to alleged subsidies to the City Council of Seville for business projects of the Cisneros Group.

We would like to convey that it is absolutely false that the Cisneros Group has any connection with such a project as is being mentioned by the publications in question. Nor is the information true about an alleged grant from the City Council of Seville for a private business project of the Cisneros Group in the Dominican Republic. We clarify that - unlike what was stated in the two newspapers - this is a real estate development with low environmental impact.

We also reject the assertion that Mr. Gustavo Cisneros is a member of a committee called "Pro-Tourism Development and Conservation of the Natural Resources of Miches Committee.”

Additionally, it is important to note that the Cisneros Group - through the Fundación Cisneros – is currently advancing a number of initiatives for positive social, economic and environmental impact in the area of Miches, Dominican Republic. These actions are part of a socially responsible business strategy, giving particular importance to the preservation of the environment. Highlights include: educational programs, organic farming and recycling of solid waste, which we are developing in closely with the communities in the area.

As I mentioned during our telephone conversation we are available to provide additional data required to clarify and factually present this issue to the readers of this influential newspaper you direct.

We appreciate that for the sake of fairness that information appears in a prominent position, with the dissemination of news in the ABC Seville and ABC National editions.

We will proceed to send a similar communication to the Director of ABC Seville for the same purpose.

Sincerely,
Antonieta Mendoza de López
President of Corporate Affairs
Organización Cisneros
Caracas, Venezuela