SFR 432,000

WHEN

EARNING

CONVERTED

COMPOUNDED

4.5% INTEREST

INTO $ IN

YIELD P.A.

YEAR

EXCHANGE

PER YEAR

RESP. YEARS

IN U.S. $

Jan. 1,…

$1=SFR…

SFR

U.S. $

%

1971

4.32

432,000

100,000

0.0

1972

3.92

451,440

115,163

15.2

1973

3.77

471,754

125,133

11.9

1974

3.25

492,983

151,687

14.9

1975

2.54

515,168

202,822

19.3

1976

2.62

538,350

205,477

15.5

1977

2.44

562,576

230,563

14.9

1978

2.00

587,892

293,946

16.7

1979

1.63

614,347

376,900

18.0

1980

1.58

641,993

406,324

16.9

1981

1.76

670,882

381,182

14.3

1982

1.81

701,072

387,332

13.1

1983

1.99

732,620

368,150

11.5

1984

2.18

765,588

351,187

10.1

1985

2.60

800,040

307,707

8.4

1986

2.06

836,041

405,845

9.8

1987

1.62

873,663

539,298

11.1

1988

1.28

912,978

713,264

12.3

1989

1.50

954,062

636,041

10.8

1990

1.55

996,995

643,222

10.3

1991

1.28

1,041,860

813,953

11.1

1992

1.35

1,088,744

806,477

10.5

1993

1.47

1,137,737

773,970

9.8

1994

1.47

1,188,935

808,799

9.5

1995

1.32

1,242,437

941,240

9.8

1996

1.16

1,298,346

1,119,240

10.1

1997

1.35

1,356,772

1,005,016

9.3

1998

1.46

1,417,827

971,114

8.8

1999

1.38

1,481,629

1,073,644

8.9

2000

1.59

1,548,302

973,775

8.2

2001

1.59

1,617,975

1,017,594

8.0

2002

1.65

1,690,784

1,024,717

7.8

2003

1.38

1,766,869

1,280,340

8.3

2004

1.24

1,846,378

1,489,015

8.5

2005

1.13

1,929,465

1,707,491

8.7

2006

1.31

2,016,290

1,539,153

8.1

2007

1.21

2,107,023

1,741,341

8.3

2008

1.12

2,201,839

1,965,928

8.6

2009

1.07

2,300,921

2,162,866

8.5

2010

1.03

2,404,462

2,332,328

8.4