LuizaCred LuizaCred, a Fininvest subsidiary, posted equity income of R3 million in 4Q04, with annualized roae.8 for the period.
It is important to mention that in 2004, the Company desconto valor economico won contracts for a total of US 263 million, that start production in 2004 to 2007, mainly in the transmission, rim, axle, stamping and cardan shaft businesses.
34 exhibitions of fine arts and visual arts were held.Banking fees reached R445 million in 4Q04 and R1,662 million in 2004, representing an increase.9 Y-o-Y.Operating results reflect a P45 million gain in both quarters, attributable to the proportional consolidation of ciesa.Edenor: Argentina S P Maintains Default Ratings on Bonds Standard Poor's International Ratings, Ltd.Bodegas DEL oeste: Court OKs Creditor's Bankruptcy Request.Exim ranking with an amount of R857 million disbursed in 2004.EDC: Invites Shareholders to March 4 Meeting.Clients started being served on a regional level with access to new products such as derivatives linked products.Clorinda Donato, Trustee Maipu 42 Buenos Aires action fans: Asks Court for Reorganization Action Fans.R.L., a restaurant operating in Buenos Aires, has requested voluntary liquidation after failing to pay its liabilities, says La Nacion.Funding in foreign currency posted.8 drop in the last twelve months, amounting to R12,748 million at the end of December 2004, mainly due to the Real appreciation during the period.Contact: Petrobras Energia Participaciones.A.Accordingly, both Genelba plant factor and availability factor fell.3 from.2 and.7 from.1, respectively. .Guerra said pdvsa received US32.5 billion in oil export revenues last year, but the Central Bank says its expenses only amounted to US29.3 billion, leaving US3.52 billion in profits that should have been handed over to the Bank but were not.Con descuento con cotizacion a 5 anos de vencimiento, monto original" with undated maturity.Electricity Breakdown of operating income for Affiliates under Joint Control included in the table above in relation to the proportional consolidation of Distrilec is as follows: Net sales of electricity generation increased to P64 million.3 in 2004 quarter, mainly boosted by.9.Biloba.A.: Enters Bankruptcy on Court Orders Biloba.A.The bankruptcy will conclude with the liquidation of the Company's assets to pay its creditors.

4Q04 - Sales and exports increased.5 and.6 versus 4Q03.
Sale OF constant velocity joint business On February 1, 2005, the Company announced the sale of its 51 stake in Velcon to GKN Industries.
The funds obtained from the transaction will mainly be used to continue lowering the Company's debt levels, lowering leverage levels and financial costs, thus strengthening Desc's financial structure and allowing it to grow and focus on businesses with greater potential to generate value and growth.