ALL collaborating with police investigation

In a statement just released, ALL’s management said that it was surprised by the investigation and would like to make clear that the sale of scrap by the concessionaires controlled by the Company has always been conducted in compliance with Clause Nine, Item X of the Concession Agreements, and Items V and XII of the Contracts for the Lease of Goods Related to the Rendering of Public Railway Transportation Service, as follows:

(i) the concessionaire has the right to sell scrap and parts that have been replaced in the process of maintenance and repair of locomotives and rail cars;

(ii) if leased goods are damaged beyond repair, the concessionaire can either replace them or reimburse the Granting Authority at the end of the concession period; and