OPERATION: Average of 12 Operations

(USD$ '000)

Exchange rate per USD$

C$1.174

Initial Investment

Land

219

Buildings

2,428

Cash

238

Inventory

1,125

Fixed Assets

4,710

Initial Financing

Debt

4,311

Equity

4,410

10-Year Average Profit & Loss

Sales

15,587

Location-Sensitive Costs

Salary and wages

4,315

Statutory plans

274

Other benefits

879

Total labor

5,468

Facility lease

87

Road Freight

476

Air Freight

25

Sea Freight

104

Total transportation

606

Electricity

165

Gas

92

Telecommunications

62

Total Utilities

318

Total Operating Costs

6,479

Interest

5

Depreciation

752

Income Tax, National

538

Income Tax, Regional

328

Property Tax

53

Total Taxes (net of grants)

919

Location-Insensitive Costs

Materials

4,081

Other operating expenses

1,475

Total location-sensitive costs

5,557

Total costs

13,712

Net Profit After Tax

1,875

% of Sales

12.0%

SUMMARY RESULTS

Net Profit Before Income Tax

2,740

Effective Income Tax Rate

31.6%

Property-based taxes per sq. ft.

$0.72