CREDIT REPORT: The key element of this report is the assessment of joint stock and limited liability companies, expressed by a Rating, a concise credit judgement on the creditwothiness of the company, with particular reference to its capacity to cope with short term trade payables.

CREDIT REPORT

Credit information, rating, reports and scores. Cerved is the leading business information supplier in Italy. We stand out due to our extensive and complete data bases, our timely and thorough analyses and the efficiency and innovation of our services. Credit information, rating, reports and scores. Founded in 1974, Cerved B.I. serves over 14,000 clients in Italy and abroad, including over 90% of Italy's 200 largest banks and over 50% of Italy's 500 major corporations, as well as small and medium enterprises and professionals. Cerved has databases of economic, financial and commercial information about individuals and companies. On the basis of the extensive public (official) sources Cerved develops high value added essential services and products enabling users to have a comprehensive view of Italian enterprise, including: Reports and accounts, economic and financial performances, their trends over time, comparisons against industry averages; Commercial creditworthiness; Directors and stockholders; Group structure; Stock holdings and real estate ownership real estate mortgages; Payment defaults, bankruptcies and other prejudicial events relating to companies or their directors. Credit Report The key element of this report is the assessment of joint stock and limited liability companies, expressed by a Rating, a concise judgement on the reliability of the company, with particular reference to its capacity to cope with short term trade payables. Credit information, rating, reports and scores. Our services are designed for the marketing and commercial units of production and distribution companies, finance companies and banks, information agencies, professionals, and research units - in practice for all those interested in knowing their partners better, finding new ones, deepening their knowledge of new markets and of the ones where they are already active. 90% of the top 200 Italian banks and a good part of the most important Italian companies are already our customers. All our services are available on Internet, with the exception of Infocenter, Financial Statement Analysis - Cebi (Analisi di Bilancio - Cebi), Import/Export Italian Companies - SDOE (Imprese Italiane Operanti con L'estero - Sdoe), and a few monitoring services. For more information you can contact our Customer Centre, which is available to help you from Monday to Friday from 8.30 a.m. to 6.30 p.m. and on Saturdays from 9 a.m. to 1 p.m. Toll-free number in Italy: 800- 86 02 84 Number if calling from abroad: +39. 0984.836449 Fax: ++39-0984/83 62 60 E-mail: cerved@cerved.com Credit information, rating, reports and scores. Online Credit Reports and Credit Reporting from a Leading Credit . Now you can view your online the report before making major purchases and see exactly what information is available to potential lenders and employers. ... One of three national consumer credit repositories.Credit information, rating, reports and scores. Data all for free, plus online credit reports, expert credit file analysis. Cerved: the premier credit ratings organization that presents credit ratings. Who is allowed to see my credit report? Not only do lenders look at your credit report, but many others use it as a yardstick to determine your financial history. Here are examples: 1. Lenders 2. Auto Insurance Companies 3. Life Insurance Companies 4. Employers 5. Renters Most anyone who has obtained a home mortgage in the past 5 years or so has heard about credit scoring. How many of you have been told "your scores are great", or "if your score were 10 points higher, your rate would be better by 1/4 point"? Probably most of you. We in the industry started to become aware of "scoring models", as they are called, as early as 1994. The use of scoring models in the mortgage industry came about as the major secondary market players, known as Fannie Mae and Freebie Mac, started to develop automated underwriting systems.