VAZCORP Sociedad Financiera S.A. acquired FINANWARE™ Credit Risk IRBa (November 2004)

Under our new business arrangement (leasing) aimed at medium and small Financial Institutions, VAZCORP Sociedad Financiera S.A. obtained the specialized credit risk module FINANWARE™ Credit Risk IRBa in the form of licensing and service leasing in compliance with Regulations 601 and 602 issued by the Banking and Insurance Superintendency of Ecuador on December 2003.