Session Number 174.

The National Free Zone Commission, dated December 16, 2014, held the session of Board of Directors No. 174, in which the following companies were approved:

USERS:

INVASA ZONA FRANCA, SOCIEDAD ANÓNIMA, is a company of national origin, dedicated to the processing and export of sesame. Located at Chinandega Km 133 ½ of Chinandega-Guasaule road, where it occupies an industrial space of 3153.91 m2, generating at the start-up of their operation 120 direct jobs; and an investment of US$ 1.55 Million.

Kentex, S.A.

The company is of Korean origin and it´s dedicated to the manufacture of garments destined for exports. It is located at Saratoga Industrial Park SA, which is located at Km. 14.5 Nueva Leon road, Managua.

This company occupies an industrial area of 9,489.71 m2; generating 940 direct jobs and an investment of US$ 3.17 Million at the start-up of its operations.

SPi Global (NICARAGUA) SOLUTIONS, Inc.

Is a company from the Philippines, dedicated in providing services of high added value telecommunications services (Contact Center and Backoffice). This company is located at Invercasa Building, Tower II, floors five and seven, facing the Salle School, Managua.

It occupies an area of 750 m2; generating 121 direct jobs at the operations start-up; with an initial investment of US$ 3.09 million.

UNION PLASTIC & PACK NICARAGUA, SA

Is a company originally from Taiwan and is dedicated in providing all types of packages for free zone companies. It is located in Zona Franca DINUSA, located from traffic lights of Nuevo Diario, 1 ½ blocks West, Managua.

Occupies an industrial area of six hundred m2 (600 m2), generating during the beginning of its operations Twelve (12) direct jobs; and an investment of six hundred four thousand five hundred dollars of the United States of America (US $ 604,500.00).

GADIE NICARAGUA INTERNATIONAL, SA

Company also called GADIE - INTERNICSA, originally from El Salvador, is dedicated in manufacturing all kinds of plastic products and hygiene disposable products, destined for exports. This company will be located at "Industrial Park Zeta of Nicaragua, SA", located in the Municipality of Mateare, Km. 14 of Nueva Leon road.

Occupies an industrial area of one thousand two hundred square meters (1,200.00 m2), generating at the beginning of its operations Fifty-one direct (51) jobs; and an investment of one million four hundred ninety-five thousand Dollars of the United States of America (US$ 1.495 million).

OPERATORS:

Technologic Investment Park, IDOMAR S. A.

Company of national origin, dedicated in the operation, management and promotion of a Free Zone Operater (Technologic Park), located in Managua, from the traffic lights of Enel Central, four hundred meters south, next to Ofimuebles.

With an industrial capacity area of two thousand four hundred sixty one with 60/100 m2 (2461.60 m2), generating at the beginning of its operations ten (10) direct jobs; and an initial investment of two million five hundred and sixty thousand dollars of the United States of America (US $ 2.560 million).

TRANSFER OF LOCATION:

Concentrix Nicaragua, S. A

Approved at the Annual Meeting number one hundred fifty six of the National Free Zone, held on the 23rd of November in the year two thousand eleven, as a tenant Company in the form of ZOFA, dedicated in providing Outsourced services, BPO and Back Office, currently located in Managua, Beatriz Building, located at Hotel Seminole, 200 vrs down. This company currently has ninety-five (95) stations, in an area of six hundred thirty-four square meters (634 m2).

In order to have greater capacity to accomodate their staff and improve the infrastructure and access, they have decided to move as a Tenant to the new Technologic Park called "INVESTMENT IDOMAR SA", located in Managua, from traffic lights Enel Central, four hunderd meters (400 m.) to the south, next to Ofimuebles.

They changed their current status, from ZOFA to Tenant of this Technologic Park.