Listado de los peces de la region de Leticia en la Amazonía colombiana

15. Reserves for risks and charges

The provisions for risk and charges as of 31 December 2008 and 31 December 2007 are shown in the following table:

Reserves for risks and charges have gone from Euro 215 thousands to Euro 3.769 thousands with a variation equal to Euro 3.554 thousands.

The change is mainly due to the evaluation of the shareholders’ equity of the joint company Sinergie Italiane S.r.l. that produced an allocation of a fund for the coverage of losses performed on shareholders’ equity of the joint company in 2008, equal to Euro 3.545 thousands, as explained in the paragraph participation of this note.

(in thousands of Euro)

31 December 2008 Value from company acquisitions Net value of company acquisitions 31 December 2007

Provisions fro pensions and similar commitments 0 0 0 0

Other reserves for risks and charges 3.778 10 3.769 215 Reserves for risks and charges 3.778 10 3.769 215

____________________________________________________________________________________________ The changes for 2008 are analysed in the following table:

The use is mainly due to the fund established by ASM DG S.r.l. for the accelerated premium 2007 paid in 2008 equal to Euro 40 thousands.

16. Severance indemnity

The changes in severance indemnity for IFRS (International Financial Reporting Standards) purposes of the Group are analysed in the following table:

The actuarial evaluation of severance indemnity is accomplished on the basis of method “ matured benefits”, through the Projected Unit Credit Method as forecast by IAS 19. This method consists in evaluation that express the average current value of pension bond matured according to the service that the employee gave as of the date of the evaluation, non projecting employee’s retribution according to normative of recent social security reform. The method of calculation can be summarised with these phases:

• Projection for each employee at the date of evaluation of the severance indemnity matured till the probable date of payment.

• Determination for each employee of probable severance indemnity payments, that should be done by the company in case of employee’s leaving for firing, dismissal, inability, death and retirement and also in case of anticipated payments requests.

• Discounting, at the date of evaluation, of each probable payment.

The actuarial model for the evaluation of severance indemnity is based on different hypotheses, both of demographic and economic-financial type. The main hypotheses of the model are:

• mortality rate: survival table ANIA IPS55

• invalidity rate: INPS tables year 2000

• personnel rotation rate: 3,00%

• discounting rate: 4, 5%

• increase in remuneration rate: 3%

(in thousands of Euro)

Other reserves for future risks and charges as of 31 December 2007 215

Net value of company acquisitions 10

Allocations to hedge fund for joint companies consolidated with net assets method 3.545

Allocations to other reserves for risks and charges 68

Utilization other reserves for risks and charges (59)

Other reserves for future risks and charges as of 31 december 2008 3.778

( I n th o u s a n d s o f E u r o ) S e v e r a n c e i n d e m n i t y a s o f 3 1 D e c e m b e r 2 0 0 7 2 .3 0 5 V a lu e f ro m co m p a n y a cq u is it io n 8 2 6 P a ym e n t s ( 5 5 4 ) C o s t o f cu rre n t s e rv ice s a n d w o rk 8 2 1

P rev io u s a ct u a ria l lo s s e s / ( P ro fit s ) reco rd e d ( 3 5 6 )

A ct u a ria l lo s s / ( P ro fit ) re o rd e d 5 6

• inflation rate: 2%

• anticipation rate: 2%

The use of actuarial techniques for the individuation of severance indemnity in accordance with IFRS, at the end of 2008 implied the record of a cost equal to Euro 56 thousands.

In accordance with IAS19 we point out the cost for plan at definite contribution that is equal to Euro 594 thousands.

17. Medium/Long-term loans

The following table shows the make-up of medium/long term loans as of 31 December 2008 and 31 December 2007:

Medium/Long-term maturity loans for the year are analysed in the following table: Long-term Bank Loans received by Ascopiave S.p.A.

The following table shows the loan liabilities of the company Le Cime Servizi S.r.l.: (in thousands of Euro) 31/12/2008

Financial year 2009 23 Financial year 2010 54 Financial year 2011 9 Total Medium/Long-term debt 86 (in thousands of Euro) 31/12/2008 Financial year 2009 1.058 Financial year 2010 851 Financial year 2011 663 Financial year 2012 571 Beyond financial year 2012 1.815 Total Medium/Long-term debt 4.957

(in thousands of Euro)

31 December 2008

31 December 2007 Loans from Cassa Depositi e Prestiti repayable between

2008 and 2016 at a fixed interest rate periodically renegotiated.

4.957

6.648

Loans from Cassa Depositi e Prestiti repayable within 2009 at a fixed interest rate of 6% (ASM DG S.r.l.)

96

143

Loans from Banca Regionale Europea repayable within 2011 at a euribor interest rate of 3/6 months plus 2 percentage points (Le Cime Servizi)

52

164

Total Medium/Long-term loan 5.105 6.955

Less: current portion of medium / long-term loans (1.135) (1.790)

____________________________________________________________________________________________ The following table shows the mortgage relations with Cassa depositi e Prestiti and the company ASM D.G. S.r.l.

Medium/Long-term loans refer to:

- residual liabilities to the Cassa Depositi e Prestiti S.p.a. equalling Euro 4.957 thousands, of which Euro 3.899 thousands non-current share, against investments in extension works to the gas distribution networks. This overall payable is made up of various payables positions towards the above mentioned institution, with due dates falling between 2006 and 2016 and with fixed rates between 6% and 7.5%;

- funding from the European Regional Bank equalling Euro 52 thousands, of which Euro 52 thousands is a current share, to the charge of the subsidiary Le Cime Servizi S.r.l, due in 2011 with Euribor 3/6 month rate increased by 2 percentage points.

- the mortgages agreed by ASM DG S.r.l. with Cassa Depositi e Prestiti S.p.A. for the construction of the methane gas distribution network of Rovigo.

The reductions in funding result in the regular payment of instalments due in the financial year.

18. Other non-current liabilities

The value of this heading at the end of each related period is analysed below:

'Other non-current liabilities’ include primarily caution money paid by users according to their gas supply contracts.

19. Non-current financial liabilities

The value of this heading at the end of each related period is analysed below:

Non-current financial liabilities equal to Euro 749 thousands are represented by liabilities contracted by the company Le Cime Servizi S.r.l. in relation to the subscription of a financial leasing contract with the company Locafit S.p.A., for the co-generation plant located in Mirano (Veneto).

(in thousands of Euro) 31 December 2008 31 December 2007

Leasing financing 794 839

Acegas-APS S.p.A. financial liabilities 0 3350

Total non current financial liabilities 794 4.189

(i n th ou san d s of E u r o) 3 1 De c e mb e r 2 0 0 8 Val u e fr om com p an y ac q u i si ti on s N e t valu e of com pan y acqu i s iti on s 3 1 Dec e m b e r 2 0 0 7

L ong-term deferred income _{7 3 5 0 7 35 7 3 9}

Caution money 8 .0 0 8 1 .6 12 6 .3 96 5 .8 4 5

Other payables _{0 0 0 8 6}

Total oth er n on c u r r e n t

l i ab il i ti e s _{8 .7 4 4 1.6 12 7 .13 2 6 .6 7 0}

(in thousands of Euro) 31/12/2008 Financial year 2009 9 Financial year 2010 10 Financial year 2011 11 Financial year 2012 11 Beyond financial year 2012 56

The following table shows the due dates per period of financing:

Moreover, the following table shows the information demanded by the IAS 17 in relation to financial leasing agreement:

The financing agreement provides the index-linking rate on the basis of the Euribor quarterly trend.

The following table shows the due dates per period of financing:

20. Deferred tax liabilities

The provision for deferred taxation at the end of each related period is analysed below: 31/12/2008 31/12/2008

(thousands of Euro) Lowest payments for leasing rentals

Current value of lowest payments

Within the next financial year 81 47 Since the 2nd to the 5th financial year 360 214 In the future 760 613 Total 1.201 874

(thousands of Euro) 31/12/2008

Value of future rental 1201

Interest share 327

Total annual value for leasing rental 874

Non current assets for financial locations 794

Current assets for financial locations 81

Total financial liabilities for financial locations 874 Other information

Total financial costs settled during 2007 54

Totale higher costs for taxes indexation 9

(thousands of Euro) 31 December 2008

Value from company acquisitions Net value of company acquisitions 31 December 2007

Deferred tax liabilities 25.544 7.325 18.218 19.607

Total deferred tax 25.544 7.325 18.218 19.607

(in thousands of Eur o) 31/12/2008 Financial year 2009 47 Financial year 2010 50 Financial year 2011 52 Financial year 2012 55 Beyond financial year 2012 670 Total Medium/Long-term debt 874

____________________________________________________________________________________________ The heading 'deferred tax liabilities' contains primarily the deferred tax liabilities allocated to temporary differences in the tax base between tax laws and balance sheet values, relative to the amortisation surpluses of tangible fixed assets and of the goodwill for tax purposes. The calculation of deferred taxation made reference to the IRES (company earnings tax) rate and, where applicable, to the IRAP (regional business tax) rate applicable at the time when the temporary differences are expected to be reversed. Specifically, the rate of 27,5% was used for IRES and 3,9% for IRAP, and for some selling companies the additional tax, in consideration of law no. 112 of 25 June 2008 has been recorded as equal to 5,5%.

The change is mainly explained by the effect of deductibility of customer list amortizations registered on the occasion of the contribution of the selling branch of Bimetano servizi S.r.l in Ascotrade S.p.A. for an amount of Euro 1.004 thousands.