banif finance, ltd.

Income Statement30 June2004111112EurDebitInterest and equivalent costs.................................................................................................... 5,426,938Commissions............................................................................................................................ 28Losses on financial operations ................................................................................................ 2,495Administrative expense ........................................................................................................... 2,073a) Personnel costs ............................................................................................................... 0b) Other Administrative overheads..................................................................................... 2,073Depreciation............................................................................................................................. 0Other Operating Costs ............................................................................................................. 338Provisions for outstanding credit and other risks.................................................................... 173,065Provisions for Financial Fixed Assets ..................................................................................... 0Result from ordinary Operations............................................................................................. 0Extraordinary Losses ............................................................................................................... 803,594Corporate Tax .......................................................................................................................... 0Other Taxes.............................................................................................................................. 15,991Profit for the period ................................................................................................................. 0111112Total ......................................................................................................................................... 6,424,522111112CreditInterest and equivalent earnings .............................................................................................. 5,731,759Earnings from securities.......................................................................................................... 0Commissions............................................................................................................................ 196,083Profits on financial operations................................................................................................. 117,492Adjustments to Credits and Provisions for Contingent Liabilities and Commitments........... 173,180Adjustments to securities with the character of financial fixed assets, to capital holdingsand shares in related companies .......................................................................................... 0Other operating income ........................................................................................................... 10,643Result from ordinary operations.............................................................................................. 0Extraordinary Gains................................................................................................................. 465Loss for the period................................................................................................................... 194,900111112Total ......................................................................................................................................... 6,424,522111112F-18