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FINANCIAL STATEMENTS

Type of loan Provider Balance as at 31 December 2009 Interest rate

Short term Long term 7,40%
6,97%
EIB loan A 5,88%
6,60%
1st Finance contract European Investment Bank 5,58%
5,49%
1st Tranche 1.596.356 9.893.293 6,64%

2nd Tranche 2.665.876 16.310.211 7,10%
6,67%
3rd Tranche 1.847.553 10.921.092 5,58%
6,30%
2nd Finance contract 14.632.917 88.497.212 5,28%
5,19%
3rd Finance contract 1.533.647 8.990.297 6,34%

4th Finance contract 8.726.730 50.969.665

5th Finance contract 17.319.166 104.835.416

EIB loan B

1st Finance contract European Investment Bank

1st Tranche 0 15.727.185

2nd Tranche 0 25.348.318

3rd Tranche 0 16.038.255

2nd Finance contract European Investment Bank 0 89.569.390

3rd Finance contract European Investment Bank 0 13.009.158

4th Finance contract European Investment Bank 0 73.412.312

5th Finance contract European Investment Bank 0 205.521.587

Total loans 48.322.245 729.043.391

The amortised cost of the long term financial liabilities at fixed interest rates (i.e. EIB Loan) is determined using the
effective interest rate method, by discounting the future contractual cash flows with the effective interest rate applied
to those liabilities. The fair value of the financial liabilities at fixed interest rates is determined by discounting the future
contractual cash flows with the current mid-swap interest rate for the average loan life period of such liabilities.

Fair value of the borrowings 2009 2008
Carrying amount 777.365.635 822.882.563
Fair value 915.730.679 933.100.439
Excess of fair value over carrying amount (138.365.044) (110.217.876)

All borrowings are denominated in the functional currency.

Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 59 OF 69