PA - Banco Security

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The approved policy is available to the shareholders in the company’s office and will be published in the company’s website
www.inversionessecurity.cl.
d) In accordance with Articles 9; 10, section 2; and 234, section 2 of Law No. 18,045 on securities markets No. 12 B of Decree Law
No. 1,328 of 1976, on Mutual Fund Management, and letter B, Section II of General Regulation No. 30, the significant event
regarding the Groups mutual funds and dated July 29, 2010 is as follows:
In accordance with the current monetary policy environment, the Chilean Central Bank has adjusted interest rates. This has
affected the prices and for rates associated with various investment instruments such as Type I instruments as defined by Circular
Nro. 1,578 of 2002 and which are managed by mutual funds. Note that the Type I instruments included in Administradora
General de Fondos Security S.A.’s investment portfolio include the “Fondo Mutuo Security Check” and “Fondo Mutuo Security
Plus” mutual funds. Specific to these funds, which are valued at acquisition cost in accordance with the first paragraph at item
I, Title I, of Circular Nro. 1,579 of 2002, we disclose the following:
Given the existence of relevant difference between the acquisition cost and the value of the instruments that encompass the
aforementioned mutual funds calculated using the valuation model referred to in Title I, number 1, section I.I.I. letter a) of the
aforementioned Circular, our management decided to value those instruments in accordance with the provision in the second
paragraph of item 1.1, Title I of Circular Nro. 1,579 of 2002 for July 28, 2010.
Management has determined to value the aforementioned mutual fund as previously mentioned to foster greater transparency
and fairness, and to reduce the situation whereby and investment’s valuation does not reflect the value with which it can be
sold in the market. This helps reduce any inequality that may exist between mutual funds participants based on the principles
of the Securities Market with this in mind, see note that letter c) of article 236 of Law Nro. 18,045 mentions that mutual fund
directors must be ensure that the fund’s investments, valuation, and operations are performed in accordance with current laws
and applicable regulations.
Compañía de Seguros de Vida Security Previsión S.A.
a) On March 18, 2010 the Board of Directors schedule an ordinary shareholders meeting on April 12, 2010, and also agreed to a
dividend distribution for Ch$10,601,732,261, which is equivalent to 100% of 2009 net income, or Ch$56.991250341 dividend
per share.
The Board of Directors also agreed to propose to the shareholders a future dividend distribution of at least 50% of the net
income for the year depending on the Company’s actual net income and financial position.
b) On April 12, 2010 on extraordinary shareholders meeting was held where the shareholders agreed to distribute 99.84% of 2009
net income. This amount to a dividend Ch$10,584,757,520, which is equivalent to Ch$56.9 per share.
In the meeting the shareholders accepted the proposal future minimum dividend of at least 50% of the net income for the year
depending on with the company’s actual net income and financial position.
The shareholders also agreed to appoint Deloitte Sociedad de Auditores y Consultores Ltda. as the company’s external auditors
for 2010, considering this entity’s reputation, quality and cost of services.
Finally, the shareholders agreed to appoint the following risk rating agencies: Feller – Rate Clasificadora de Riesgo Ltda. and Fitch
Chile Clasificadora de Riesgo Ltda. for 2010, considering these entities’ reputation, quality and cost of services.