Description and Philosophy

MECK is a privately held company with investments in South America and the United States.  Our headquarters are in Santiago, Chile and we maintain a physical presence in Sao Paulo, Buenos Aires, Montevideo and Palo Alto.

Our investment philosophy is one of capital preservation and long-term capital appreciation.

We seek to invest in established companies that are profitable now, have a history of being profitable, and that we judge are able to remain profitable in the future. We invest in publicly or privately held companies, in debt or in stock. Our group intends to maintain its participation in these businesses for as long as they exist.

MECK prefers to have shareholding control in the businesses in which it becomes involved, but it will consider minority participation whenever reasonable rights can be guaranteed.  We prefer businesses that distribute most of their profits in the form of dividends to maximize the capital’s yield and so that we may make our own decisions as to how to reinvest it.

We invest in companies whose management show ample experience, a financial commitment to the business, and values in line with ours: honesty and responsibility. Our policy does not allow partners free rides; our efforts are structured in such a way that we share risk, failure, and financial success.

Description of MECK’s Investments

MECK is currently an investor in the following companies:

Lemon Group ( ) Retail bank for the under-banked and unbanked. Based in Sao Paulo, Brazil. - Majority participation.-

Bling Nation ( Alternative Payment Network for Financial Institutions  and Credit Unions.  Based in Palo Alto, California, United States. - Majority participation.-

Creditel ( ) Provider of consumer credit loans with operations in Uruguay and Santa Fe, Argentina. Based in Montevideo, Uruguay. – Minority participation-.

Inelectra ( ) Company dedicated to the engineering and construction for the oil, petrochemical, steel, aluminum, power, telecommunications and mass transportation industries, executing major projects in Venezuela and abroad. Based in Caracas, Venezuela. – Minority participation-.

Endriven ( ) Developer of energy businesses. Based in Buenos Aires, Argentina.  – Minority participation-.

Gas Meridional ( ) Natural gas services including transportation, trading and operations. Based in Buenos Aires, Argentina. – Minority participation-.

Explora S.A. Biodiesel production plant. Based in Buenos Aires, Argentina. - Majority participation.-

C3 Plus.  LPG Gas production plant and distributor. Based in Buenos Aires, Argentina. – Minority participation-.

Fit & Proper ( ) Banking and Finance International Consulting firm. Based in Miami, Florida, USA. – Minority participation-.

MECK was an investor in the following companies:

Clasified Media Group ( , , , ) Online classifieds with operations in Venezuela, Colombia, Puerto Rico, Panama and the State of Florida.  Sold to Mercado Libre (Nasdaq: MELI) in January 2008

Wanako Games ( ) Videogame developer. Based in New York City and Santiago, Chile. Majority participation, sold to Vivendi Games (Paris: VIV) in December 2006

Mercantil Servicios Financieros ( ) Venezuela’s largest retail banking group. Based in Caracas, Venezuela. Minority participation, sold October 2006.

Directors and Executives of Meck

MECK has four directors: Meyer Malka, Guillermo Kirchner, Wenceslao Casares and Michael Esrubilsky.

Meyer Malka is based in Palo Alto, California, United States. Meyer participated in the development of the Internet financial services portal Patagon ( ) by founding and developing its Venezuelan branch. After Patagon established a presence in Latin America, the United States, and Europe, it was sold to Banco Santander in Spain where he was the interim CEO of the spaniard  Banco Openbank . Meyer also participated in the developing of Lemon Bank an the other affiliates owned by Meck in Brasil. Meyer also founded Wendy’s Hamburger Franchise for Venezuela ( ) , and the broker dealer Heptagon Financial Group. He is a board member of Climax magazine ( ) and Wenco Servicios de Comida Rapida (Wendy’s franchisee). Meyer is an Economist from the Universidad Católica Andrés Bello, Caracas. Venezuela.

Guillermo Kirchner is based in Buenos Aires, Argentina. He was one of the founding partners Patagon ( ) . Guillermo has worked in the investment bank J.P. Morgan & Co in New York, as a financial analyst in the area of mergers and acquisitions in Latin America.  He has a degree in business administration from the Universidad de San Andrés in Buenos Aires.

Wenceslao Casares is based in Palo Alto, California, United States. Wenceslao is an entrepreneur specialized in technology and finance.  He founded Patagon ( . He also founded Wanako Games (, and Internet Argentina ( ). Wenceslao was selected “Global Leader of Tomorrow” by the World Economic Forum of Davos (  ) and as Endeavor Entrepreneur by Endeavor ( ), an organization of which he later became a board member.  As part of its nonbusiness activities, he founded the Fundación Síntesis ( ). Wenceslao studied business administration for three years at the Universidad de San Andrés, in Buenos Aires, and completed the Owner/President Management program in the Harvard University.

Michael Esrubilsky is based in Sao Paulo, Brazil. He developed Patagon Brazil ( ) and later founded and developed Lemon Bank.  Among the businesses of which Michael is in charge are Lemon Bank and the payment networks associated with it like MuitoFácil, Ltda. and MultiBank S.A. Before joining Patagon, Michael worked in the investment bank Goldman Sachs & Co., in New York City, as a financial analyst in the area of mergers and acquisitions in Latin America.  Michael is an Economist from Harvard University.

Diego Valenzuela is the legal vice president of MECK and general manager of Inversiones MECK Chile, Ltda.  Diego also participated in the development of the Patagon project, which he joined in early 2000 as the Latin America lawyer at the project’s headquarters, in Miami, Florida, Before joining the group, he worked at prestigious law firm in Chile (Cariola & Company, as an associate) and in Spain (Cutrecasas, as a visiting lawyer). Diego received his law degree from the Universidad Católica de Chile and took postgraduate courses at various institutions in the United States (P.I.L. Harvard Law School 2001, INTA 2002).

Victor Dachille is the Chief Financial Officer (CFO) of MECK. Victor is certified public accountant of the Facultad de Ciencias Económicas of the Universidad Católica Andrés Bello, in Caracas, Venezuela. He worked at accounting/finance department of well-known companies based in Venezuela (manufacture, finance and services), and then he joined KPMG, where he specialized in diverse accounting, consulting and tributary topics. He was the CFO of Patagon Venezuela before joining MECK.

Juan Collao is the internal auditor of MECK; he joined the company at the beginning of 2006. Prior to that he worked for top-ranked companies of consulting auditors, like Price Waterhouse Coopers and Deloitte. Juan is Accountant-Auditor of the Facultad de Ciencias Económicas y Administrativas of the Universidad Diego Portales, Chile, teaching specialized courses in the subjects of accounting and auditing standards.

Cruz del Sur #133, Ofic 703, Las Condes, Santiago Chile. +56 2 242-0278