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Subsidiaries of Entel S.A.Company Name Micarrier Telecomunicaciones S.A. or Micarrier S.A. Entel Servicios Empresariales S.A.(Formerly Red de Transacciones Telefónicas S.A.)Legal Status Private Corporation. Private Corporation.228Constituting DocumentsBusiness PurposeSubscribed and Paid-in Capital on December 31, 2011Micarrier was incorporated as a limited company by publicdeed on December 30, 1988, in accordance with the laws of theRepublic of Chile. The company initially traded under the nameEntel Servicios de Datos S.A. until March 26, 1996 when it wasagreed to amend the articles of incorporation to establish thecurrent name of the company.The company installs, operates, runs and provides publicand private telecommunications services at national andinternational level, both directly and through third parties.The company’s subscribed and paid-in capital isTh.CLP $4,141,581.Direct and Indirect Stock of Entel S.A. Entel Chile S.A.: 99.990%Entel Inversiones S.A.: 0.010%Percentage of Investment in Entel Chile S.A. Assets 0.15% 0,03%Entel Servicios Empresariales S.A. was incorporated as alimited company by public deed on June 9, 1993, in accordancewith the laws of the Republic of Chile.The company provides: software analysis, design,development, operation and maintenance, consultancyservices and technical support; third-party administrationservices for infrastructure, systems and business processes;e-commerce, business and accounting transactions using allelectronic media; representation of national and internationalsuppliers for software, hardware, and other tools andequipment related to IT, telephone support, and the continuityof technology platforms.The company’s subscribed and paid-in capital isTh.CLP $737,071.Entel Chile S.A.: 99.9855%Entel Inversiones S.A.: 0.0145%Report 2011Income for 2011 Financial Year Th.CLP $35,244 Th.CLP $186,367Board of DirectorsRichard Büchi B., ChairmanAntonio Büchi B., DirectorAlfredo Parot D., DirectorJosé Luis Poch P., DirectorFelipe Ureta P., DirectorFelipe Ureta P., ChairmanJulian San Martín A., DirectorVictor Hugo Muñoz A., DirectorCEO Pablo Pfingsthorn O. Pablo Pfingsthorn O.Positions Held at Entel S.A.Richard Büchi B., Executive Vice-ChairmanAntonio Büchi B., CEOAlfredo Parot D., Vice-Chairman of Technology and OperationsJosé Luis Poch P., Vice-Chairman Consumers MarketFelipe Ureta P., Corporate Finance and Financial PlanningPablo Pfingsthorn O., Financial Planning & Control SupportExecutiveCommercial Relationship with Entel Chile S.A. Micarrier S.A. provides long distance national andinternational services to Entel Chile S.A. In return Entel ChileS.A. provides Micarrier S.A. with the administration, operationand maintenance of its networks.Agreements and Contracts Micarrier S.A. contracted operation and maintenanceservices for telephone exchanges and switching equipment,administration and computer services and leases officesfrom Entel for the value of Th.CLP $25,930. Entel Chile S.A.contracted the leasing of telecommunications from MicarrierS.A. for Th.CLP $31,316.Felipe Ureta P., Corporate Finance and Financial PlanningJulian San Martín A., Vice-Chairman Corporations MarketVictor Hugo Muñoz A., IT Services ExecutivePablo Pfingsthorn O., Financial Planning & Control SupportExecutiveEntel Servicios Empresariales S.A. provides technologyplatform continuity services to Entel Chile S.A. to supportcustomers operations.Entel Servicios Empresariales S.A. provides services in thefield of technology platform continuity to Entel S.A. to supportthe customers operations for Th.CLP $2,271,303.