MercoPress, Uruguay
July 22 2004

New Carrasco air terminal.

Carrasco, Uruguay’s main airport is undergoing a rapid expansion and
renewal process involving millions of dollars and with the objective
of converting it in a regional hub for Mercosur countries.

Carrasco’s air strip

The company that holds the thirty year concession of Carrasco made
this week the official presentation of the new air terminal project
that should be ready for 2009 at a cost estimate in over 100 million
US dollars.
Eduardo Eurnekian the Armenian Argentine born businessman who holds
the concession with the company `Puerta del Sur’ indicated the new
air terminal was designed and will be built by architect Rafael
Viñoly, among the world’s top rated professionals in his field of
expertise.

The new air terminal when finished will be able to handle 8 million
passengers annually.

Mr. Eurnekian who manages over 30 airports mainly in Argentina and in
Italy with Italian associates said Carrasco is `the most valuable of
our holdings and with greatest potential’, adding that the main air
strip will be extended to three kilometres.

`We expect to create a thousand jobs with the building of the new
terminal that will be a real architectural impact for the region’,
added Mr. Eurnekian.

The Armenian-Argentine investor is also the main donator of funds (an
estimated one million US dollars) for the Memorial built in the
Falkland Islands to honour Argentine combatants of the 1982 South
Atlantic conflict.