ASOCIACIÓN GARANTIZADORA DE PENSIONES
December 31st, 2006

Legal Status
The Asociación Garantizadora de Pensiones is a private corporation that serves as a non-profit, social benefit mutual; it was legally constituted by Decree N??1,625, 18 June 1927, to guarantee, by replacing associated companies, the payment of pensions under the occupational accident law, Ley de Accidentes del Trabajo N??4,055. Because it is non-profit, it is exempted from income tax law regulations.

Purpose
Exclusively for the purpose of paying pensions under the labour accidents law, Ley de accidentes del Trabajo Nº 4,055.

Board of Directors
This is composed of the following people, appointed by the majority affiliate, Codelco.

Directors
José Antonio Álvarez L. (*)
Carlos Urzúa R. (*)
Óscar Salgado W. (*)
Patricio Lustig G. (*)
María Carolina Vargas V. (*)
Alternatives:
María Elena Brahm Z. (*)
Gloria Parada Z. (*)
Gustavo Sippa C. (*)

Manager
Celso Núñez Salgado

Codelco's share of capital and changes during the fiscal year
Codelco's share is 96.688338% and has not changed in recent fiscal years.

Commercial relations with Codelco
This firm has no commercial relations with Codelco.

Contracts with Codelco
This firm has no commercial contracts with Codelco.

Investment as a percentage of total head office
2006 Investment in subsidiary US$657,000.
2005 Investment in subsidiary US$719,000.
Investment in subsidiary 0.005%, 2006