IMPORTANT NEWS ON MINIMUM SALARY

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Dear Clients and Friends:

Please be advised that on December 11, 2015, it was announced that the Mexican Council of Representatives of the National Minimum Salary Commission unanimously agreed to grant a 4.2% (four point two percent) increase on the daily minimum salary in Mexico for 2016.

The new daily minimum salary that will be in effect in Mexico as of January 1st , 2016 shall be MX$73.04  (Seventy Three 04/100 pesos, Mexican currency).

We will keep you posted on further developments as they become available.

Sincerely,

Ernesto Velarde Danache, Inc.