INFORMATION ABOUT SEPIDES

SEPIDES starts its activity on November 2002, with the goal of promoting Spain´s economic and social development, through the support and promotion of private investments which generate new companies, wealth and jobs.

SEPIDES carries out the following activities:

SEPIDES collaborates in SEPI´s action plans for its companies, as well as in the general action plans approved by the Government.

SEPIDES has delegations in the Basque Country, in Galicia, in Ceuta and in Melilla, and has as affiliated companies (on 31.12.2003): Sodicaman, Sociedad para el Desarrollo Industrial de Castilla - La Mancha (company for the industrial development of Castilla - La Mancha), Sodiar, Sociedad para el Desarrollo Industrial de Aragón (company for the industrial development of Aragón) and Sodiex, Sociedad para el Desarrollo Industrial de Extremadura (company for the industrial development of Extremadura).

In the year and half since its incorporation, besides the activities which it has continued carrying out through the SODIS, SEPIDES has invested 63 million euros in 22 corporate projects, which it is estimated that will generate a total investment of up to 580 million euros and which will make possible the creation of over 2,900 jobs.

Activity of the company in year 2009:

Grupo SEPIDES has continued developing in 2009 an investment strategy which is focused, on the one hand, on directly financing corporate projects through the acquisition of a temporary and minority shareholding in the company's capital and loan granting, and on the other, in the indirect financing through venture-capital funds and investment companies in which it participates together with other entities, both from the public and the private sectors.

Besides, a third activity line has been added, which entails the management of two new funds for entrepreneurial promotion: the Fund for Supporting the Diversification of the Fishing and Aquiculture Industry, which was set up by the State General Budget Act for 2007, with a 21 Million Euros budget for 2010 in the budget of the Ministry for the Environment and Farming. The first two calls have resulted in the authorization in 2009 of 17 projects, which were financed with 15.2 Million Euros, and on which it is intended to invest a total of over 51 Million Euros.

The Fund for the Promotion and Development of Infrastructures and Services for the Autonomy System and Dependency Care was set up by the General State Budget Act for 2009, and currently it has at its disposal 34 Million Euros in the budget of the Health and Social Policy Ministry. Of the 17 Million Euros received in 2009, and after the public bid made, 16.5 Million Euros have been earmarked for financing 8 projects, which will entail a total investment of 115 Million Euros. For 2010, both Funds have been earmarked with 5 Million Euros and 17 million euros, respectively.

The Grupo SEPIDES approved in 2009 its participation in 10 direct investment projects, which amount to 8.2 Million Euros, while at the same time it disbursed 4 million euros into the Funds and companies in which it participates. Special mention must be made to the set up of the Fondo Ferrol Iniciativas Empresariales FCR (Fund for Entrepreneurial Initiative in Ferrol), with a committed net worth of 12 Million Euros, and in which SEPIDES takes part, together with Enisa and other regional and financial entities; and the Nanotech Fund FCR, with a 5 Million Euros net worth, and which is focused on nanotechnology projects, and in which participate international technologists.

In this way, SEPIDES currently participates in seven venture-capital Funds and investment companies, which are focused on promoting small and medium sized companies, as well as the promotion of the entrepreneurial activity in the regions of Valencia and Castilla-La Mancha, as well as in Teruel and Ferrol, with a committed net wealth for all of them of 131 Million Euros, and the grant of a total of 57 Million Euros in loans.

The portfolio of entrepreneurial projects promoted and participated by Grupo SEPIDES currently amounts to 129 Million Euros, which together with the disbursements in the Funds and in the investment companies, raises its portfolio to 148 Million Euros. If we add the resources provided by third parties through these Funds, which are mostly managed or jointly managed by SEPIDES affiliated company Gestión SGECR, the amount reaches the figure of 189 Million Euros.

In 2009 it recorded a 1.9 Million Euros net loss, as a result of the difficult economic environment, which has significantly affected its portfolio of shareholdings, forcing it to make adjustments in its value, although for a lower amount than the year before within the area of its risk limitation policy.