Since the early 1990's our firm has been at the forefront in the analysis and consultation of corporate governance and related issues. D. Jacinto Soler Padró is a founder and sole Spanish member of the International Corporate Governance Network (ICGN). The ICGN, based in New York, is dedicated to promoting and defending principles of corporate governance and brings together some of the largest institutional investors in the world as active participants. We have authored several publications on this issue and work closely with the media in an effort to bring this emerging and vitally important area to the public's attention ( Press ). Our services are provided in collaboration with international experts who are leaders in the field and cover two main areas:

Consultation for Listed Companies:
Since 1991, we have been partners with the consulting firm Morrow & Co. based in New York, In Spain operating under the name Soler-Padró / Morrow, Together we offer a variety of services to listed companies that focus on their relations with institutional investors. These services include

• Preparation for general shareholder meetings.
• Shareholder identification, particularly identifying the "beneficial owners".
• Solicitation of shareholder voting proxies (Proxy solicitation).
• Market research to identify any concerns in the investment community about a specific company.
• Drafting ideal shareholder profiles for companies and enhancement of the investment base ("shareholder targeting").
• Ongoing communication with shareholders particularly in regards to special events such as IPO's).

Consultation for Institutional Investors:
Since 1991, Soler-Padró has been a partner with the European Corporate Governance Service ECGS representing Spain and Portugal. ECGS is Europe’s only continent-wide network of consultants specializing in corporate governance. ECGS offers a variety of services to institutional investors all over the world:

• Evaluate investment portfolios by analyzing each invested-company’s corporate governance practices by applying a standard rating system.
• Proxy department assistance. A new law in Spain requires investors to vote at shareholder meetings. (Number 35, enacted November 4, 2003). In compliance with this law we prepare investors to vote by helping them set up an in-house proxy department. The department collects and organizes all relevant company information to prepare investors to cast an informed vote. Related to this we provide:

• Support in developing a shareholder voting policy.
• Reports briefing the company and its voting agenda and offering voting advice.
• Organizational support for the in-house proxy department.
• Strategies and means of communication with other shareholders.

Soler Padró, in cooperation with the asset management company Gaesco, has recently launched Spain’s first investment fund focused on companies adhering to practices of good corporate governance. The fund, called the ‘Corporate Governance Spain Fund,’ will be managed by Gaesco, one of Spain’s leading independent asset management firms. The Spanish Securities Commission CNMV has authorized the Fund.