EMPRESA DE TRANSPORTE COLECTIVO DE PASSAGEIROS

INDEX EVOLUTION OF TRANSCOR, (State-Owned Company)

FOUNDATION OF THE NEW COMPANY - TransCor SV SA – BY THE EMPLOYEES

FINANCING

RESULTS OBTAINED

PROSPECTIVE PROJECTS

EVOLUTION FOUNDATION - (TRANSCOR EP, was established in 1979

through the Law 159/79 of 31 December)

CAPITAL (Capital of the Company was CVE 21 M and was endorsed by the Cape Verdean Institute for Solidarity (ICS) with 50% of the shares and the 14 oldest municipalities in the country with the remaining 50%.

MONOPOLY (From 1979 to 1989 the company carried on its business as a monopoly in the two main urban areas: SANTIAGO, S.VICENTE and S.ANTÃO

FOUNDATION OF TRANSCOR SV SA

The 63 emplyees of Transcor EP proposed to the Government the purchase of existing assets on the island of São Vincente (Mindelo). A new company was founded with a capital of 50M CVE) called TransCor SV SA-Empresa de Transporte Colectivo de Passageiros S.A.

MISSION

The Mission of Transcor SV SA is the service of urban public transport of passengers, driven by sustainability criteria.

STRATEGY Anticipate and respond on time to market needs and

customer expectations

Ensure the service offered with high social and financial effectiveness

Contributing to the sustainable development of urban transport system

Improving the image of Company

INVESTMENTS Year Financial Institutions Status

BCA CEVC BCN BAI

2004 45.345€ Paid

2006 292.930€

90.690€

151.435 €

Paid

Paid

Paid

2009 235.795€ Paying

2010 432.000 € Paying

RESULTS OBTAINED AFTER THE INVESTMENT

The first and most important result was undoubtedly the continuation of jobs for all former employees the old company as well as the continuation of urban transportation on the island.

RESULTS OBTAINED AFTER THE INVESTMENT

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Nº of Buses 19 45

Age of the

fleet10,5 6,5 4,5

Nº of

employees63 130

Net Profit1

07

.00

0 €

10

6.0

00

€

11

6.0

00

€

26

5.5

67

€

21

5.7

15

€

PROSPECTIVE PROJECTS Within the strategy of the company, TransCor SV SA

plans to expand its activities to the Islands of Sal and Santiago

Ilha do Sal

Area of 216 km2 with a population of around 9,100 inhabitants.

Santiago is the country's largest island and also the most populated (with 52% of the population approximately 185,000).

The island is home to the Cape Verdean capital, Cidade da Praia.

PROSPECTIVE PROJECTS The Island of Sal has no service of public

transportation. We intend to be pioneers in this business providing our services to the main cities of the island;

We will also offer reduced prices to students and youth workers.

For Island of Sal, we intend to start with:

PROSPECTIVE PROJECTS A modern fleet of 12 buses with a capacity to 35 seats.

Hire more 42 employees.

To implement this project we need an investment of around CVE 90 M approx. € 900.000

Expand our services to the Island of Santiago: start with 40 buses with a capacity slightly larger for 50 seats between standing and sitting

PROSPECTIVE PROJECTS Expand our services to the Island of Santiago: start with

40 buses with a capacity slightly larger for 50 seats between standing and sitting

To have a workforce of 140 employees.

For implementation on the island of Santiago we want a funding of around 300 M CVE approximately 2,7 M€.

With the expansion to the two islands, we intend to increase our business volume and consequently increase in profits.

Thank You For Your Attention