Company Profile For Acerinox, S.A.

Acerinox SA is a Spain-based company principally engaged in the manufacture, distribution and sale of flat and long stainless steel products. Its products portfolio comprises slabs, billets; black coils; plates; hot-rolled coils, sheets, re-bars, black bars and flat bars; engraved sheets, cold-rolled coils and sheets, circles and wired rods, among others. The Company’s facilities include a production plant located in Algeciras, as well as service centers operating in Barcelona, La Coruna and Madrid. The Company is a parent of Grupo Acerinox, a group which comprises a number of controlled entities with operations established in North and South America, Europe, Africa, Asia and Oceania. In addition, the Company is a 23.77%-owned affiliate of Alba Participaciones SA.

BRIEF: For the six months ended 30 June 2009, Acerinox SA's total revenue decreased 59% to EUR1.3B. Net loss totaled EUR255M, vs. a profit of EUR154.6M. Total revenue reflects a decrease in sales in the Plane Stainless Steel Products and Large Stainless Steel Products business segments as well as in Spain, Europe, America, Africa and Asia. Net loss reflects lower financial income as well as loss on financial instruments and equity in affiliates.