looks like ady will win the $83 million

Looks like ADY will win the $83 million

VALLENAR IRON’S CLAIMS AGAINST
BESALCO’S UNDERPERFORMANCE
The Company makes the following announcement with regard to its 60% owned Chilean
subsidiary, Vallenar Iron Company (“Vallenar Iron”).
On March 12, 2008, Vallenar Iron and Besalco Maquinarias S.A. (“Besalco”) entered
into an arbitration process in Chile and on June 13, 2008, Vallenar Iron filed a legal writ
against Besalco for breach of contract and seeking a financial indemnity in favor of
Vallenar Iron in the amount of US $ 83,000,000 for lost production for the period from
February to May 31, 2008. The arbitration process with Besalco is currently ongoing