José María Ayuso is regional head of products for Visa Inc. Latin America and Caribbean (LAC) Region since June 2001. His main responsibilities include leading product management and development, and consulting services in the Region. Some of his most outstanding accomplishments include the creation of the consulting services area, and the launch of Visa Signature and Debit for businesses. Mr. Ayuso has more than 15 years of experience in the payment system industry. He joined Visa in February 2001 as senior vice president, in charge of business development with multinational banks, merchant relations and consulting services. Before this, he was senior vice president of Visa Europe and general manager of the Visa Iberian Office since July 1998. For the previous three years, he was assistant general manager for Visa Spain, a Visa International group member in Spain. From November 1992 through June 1995, he was the regional manager of Southern Europe for EUROPAY International. Earlier in his career, he was the marketing director for System 4B as well as the head of new products and payment systems for Banco Atlántico in Spain. Mr. Ayuso graduated with a degree in communication sciences from the Universidad Complutense de Madrid. He has completed graduate coursework in financial marketing, resource management and business administration.

Chaomei Chen is the Chief Risk Officer at Washington Mutual Card Services, in charge of Credit and Business Risk Management. Prior to coming to Washington Mutual Card Services, (formerly Providian Financial) Ms. Chen held executive risk management positions at FleetBoston Credit Card Services, and at PNC National Bank Credit Card Division. She also held risk management positions at Household Credit Services, American Express and Citicorp. Ms. Chen holds a Master of Science and Engineering in Mathematical Science from The Johns Hopkins University and a Bachelor of Science degree in mathematics from Southwestern Jiao Tong University, China.

Jacinto Cofiño is senior business leader of payment systens risk at Visa Inc. Latin America and the Caribbean Region (LAC) since May 2002. His primary goal is to implement programs related to mitigate fraud-risk and its impact on the profitability of financial institutions by the proactive development of detection and prevention initiatives, as well as best practices implementation. Mr. Cofiño joined the Visa Systems area in 1985, where he later managed the Systems Engineering Team, the department that was responsible for all VisaNet Access Points* throughout the region. He was also responsible for the Certification Area and other Visa technical products. In 1996, he was appointed vice-president of special projects where he successfully managed, among other initiatives, Visa Cash implementations in several countries and the Y2K transition project. In 1999, Cofiño undertook the Y2K Transition Project for the region, managing all business and technical aspects. As part of this effort, he was responsible for the Event Management Center that involved over 200 staff members. Prior to his move to the Risk Management Area, he was responsible for the Chip Technology Team, where among other things helped launch the first LAC EMV card. With more than 20 years of experience at Visa, Mr. Cofiño has contributed to the development of a culture of information protection, thus helping keep Visa at the forefront of the technological revolution with high standards of security. Jacinto Cofiño was born in Cuba and is specialized in information systems.

•Responsible for Process Engineering •Coordinate all Back Office functions (Credit & Debit Card, Loans, Investments, Demand Deposits, Swift, Fraud Prevention, and Customer Service •Operation & Technology Integration of three banks (Bancentro, Banpais and Bancrecer) with Banco Mercantil del Norte •Create operations process for the new credit card products

Economista, 57 anos, com Ms of Science em Economia Rural e funcionário do Banco Central do Brasil-BACEN (36 anos); - Presidente do Banco de Crédito Real de Minas Gerais; - Vice-Presidente Executivo do Conselho Política Financeira do Estado de Minas Gerais; - Diretor Financeiro e Presidente Interino da Caixa Econômica Federal-CEF; - Diretor de Gestão de Recursos de Terceiro do Banco Cooperativo do Brasil; - Coordenador de Gestão das Empresas Estatais do Ministério do Planejamento e Orçamento; - Diretor do Banco Interamericano de Ahorro e Préstamo – BIAPE (Venezuela); - Presidente do Banco Nossa Caixa (São Paulo); - Membro do Conselho Diretor da Febraban.

Bhairav Trivedi is Managing Director, Global Head of Remittance Services at Citi’s Global Transaction Services. He joined Citi as part of its acquisition of PayQuik, Inc., an infrastructure and service provider to banks and financial institutions in the international money transfer space, which he founded in 2002. He has over 20 years of experience working with banks and financial institutions, in areas of profitability, strategy development and product/market development. Prior to founding PayQuik, Bhairav worked at McKinsey and Company in New York, where he served banks and financial institutions on strategic issues related to globalization of their portfolios and profitability maximization. Before joining McKinsey, he headed up a group of strategy consultants serving Total Systems (TSYS) customers at Fair Isaac, a specialty consulting firm. He was responsible for providing strategic advice to some of the world’s largest credit card issuers in maximizing revenue and managing credit risk exposure on their portfolios. Prior to Fair Isaac, he worked at Providian Bancorp, where he helped develop the Secured Credit Card product and grew it to one of the largest portfolios in the industry. Bhairav has an MBA from the Wharton School of the University of Pennsylvania and a Masters in Engineering Economic Systems from Stanford University. He also holds an undergraduate degree in engineering from India.

March 2005 to date: Title: Chief Treasury Officer and Head of Capital Markets. CEO of the brokerage house. Line of reporting: CEO of the group Responsibilities: In charge of the Treasury of GFNorte; the Brokerage House; Banorte Securities in New York and Investor Relations. Member of the Executive Committee as well as of the Treasury, the Credit, the Audit and the Risk Committees. Board Member of the Brokerage House and Chairman of Banorte Securities.