Financial Statements - Entel

EMPRESA NACIONAL DE TELECOMUNICACIONES S.A. & SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFor Transalation Purposes Onlyinterest rate (Cross Currency Swap - CCS). Only the foreign currency element of these contracts isincluded in the previous tables.24. FOREIGN CURRENCY TRANSLATION AND INCOME FROM CURRENCY INDEXESThe origins of effects on income from currency translation and the application of currency indexesthroughout the indicated periods are as follows.Foreign currency translationCumulative01/01/2012 01/01/201112/31/2012 12/31/2011Th. CLP$Th. CLP$Other assets (994,622) 1,142,442Commercials creditors and other accounts payable 1,334,648 (2,243,298)Interest accruing loans 23,076,000 (31,876,000)Derivative instruments, effect rates at close (FW) (15,021,635) 21,230,796Derivative instruments, effect rates at close (CCS) (7,992,266) 12,285,600Derivative instruments, effect rates at close (Call) - 117,350Derivative instruments, effect fair value (FW) (9,964,315) (7,520,400)Derivative instruments, effect fair value (CCS) 959,043 (31,056)Derivative instruments, effect fair value (Call) - (174,050)Other liabilities (192,448) 719,239Total foreign currency translation (8,795,595) (6,349,377)Income from currency indexesOther assets 97,301 367,061Derivative instruments, effect rates at close (CCS) (3,206,467) (5,648,688)Other liabilities (161,475) (13,451)Results for currency indexes (3,270,641) (5,295,078)25. OPERATIONAL LEASESThe main operational leasing agreements as lease holder refer to contracts for telecommunicationsignal transmission capacities, vehicle fleets, the provision of cables infrastructure to third-parties,leases, and usage rights for urban and rural real estate for the installation of technical switchs.- 53 -