1. AIR CARGO TRANSPORT AND TRADE DEVELOPMENT IN PERU Eduardo García-Godos M. Legal Adviser Calgary, September 2006

3. WHERE IS THE AIR CARGO?

4. AIR CARGO TRANSPORT IN AMERICA

5. Peru has maintained its economic growth for the last three years Growth of GDP (Variation compared to the same month of previous year, %) Estimated GDP 2005: 6.4 % Source: Central Reserve Bank of Peru 2 3 4 5 6 7 8 IIQ 03 IIIQ 03 IVQ 03 IVQ 04 IQ 0 4 IIQ 0 4 IIIQ 0 4 IQ 05 3,6 3,5 2, 9 4 , 9 3,6 4,8 6,6 6,4 6,2 IIQ 05 6,4 IIIQ 05 7,7 IVQ 05 7,3 IQ 06 6,0 IIQ 06

6. Source: Bloomberg Update August 31, 2006 Country risk has remained below the Latin America average JP Morgan Index EMBI+ ( basic points differential on US Treasury Bonds) 200 400 México 1 000 600 529 136 207 323 111 203 222 209 Argentina Perú Venezuela Ecuador Colombia Brasil Latinoamérica 800

7. EXPORTS GROWTH AND FORECAST 2006 Peru: Exports to the world billions US$ FOB Fuente: SUNAT PROJECTION 2006: US$ 21 billions

8. FOREIGN MARKETS AND TRADE NEGOTIATIONS AGENDA

10. AIR CARGO MARKET IN PERU Gap between maritime and air transport is one of the largest in Latin America 1/ En volúmenes 1/ En volúmenes 1/ En volúmenes Fuente: CEPAL

12. AIR CARGO MARKET IN PERU

13. MAIN PRODUCTS EXPORTED THROUGH AIR CARGO 100,00 % 4 269 676 899 TOTAL 11,51 % 491 525 380 OTHERS 0,56 % 23 872 374 OTHERS COTTON APPAREL 0,60 % 25 754 687 OTHERS COTTON SHIRTS AND APPAREL FOR WOMEN AND GILRS 0,70 % 29 958 938 PINPOINT COTTON SHIRTS FOR MEN ONE COLOR 0,89 % 37 816 277 OTHER COTTON "T-SHIRTS“. 1,87 % 79 770 081 PLAIN SILVER 1,96 % 83 712 623 COTTON “T-SHIRTS” WOVEN ONE COLOR 2,12 % 90 453 982 JEWELERY 3,07 % 131 240 935 ASPARAGUS (FRESH OF REFRIGERATED 4,77 % 203 682 124 CARBUROREACTORES TIPO QUEROSENO PARA REACTORES Y TURBINAS DESTINADOS A EMPRESAS DE AVIACION 71,95 % 3 071 889 497 GOLD IN OTHER FORMS EN BRUTO % FOB FOB US$ PRODUCTS 100,00 % 4 269 676 899 TOTAL 11,51 % 491 525 380 OTHERS 0,56 % 23 872 374 Garments of cotton 0,60 % 25 754 687 Others, of yarn of different colours for women and boys 0,70 % 29 958 938 Of man-made fibres 0,89 % 37 816 277 Others, of yarn of different colours 1,87 % 79 770 081 Silver non alloy 1,96 % 83 712 623 Of one uniform colour dyed yarn, including bleached yarn 2,12 % 90 453 982 Of other precious metal, whether or not plated or clad with precious metal 3,07 % 131 240 935 Asparagus 4,77 % 203 682 124 Carburoreactors type Kerosene for reactors and turbines (Turbo A1) destined to the businesses of aviation 71,95 % 3 071 889 497 Gold other unwrought forms % FOB FOB US$ PRODUCTS