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Dear Clients and Friends:

Please be advised that Mexico and the European Union have successfully concluded negotiations concerning a new, updated Free-Trade Agreement.

The next step regarding the Trade Agreement is to have it approved and signed by the representatives of both parties.

Once the Agreement has been signed, the respective legislative discussions for approval must be carried out.

We will keep you posted on further developments as they become available.

Sincerely,

Ernesto Velarde Danache, Inc.




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