Chile to adopt IFRS in 2009

In Chile, the Accounting Standards Board of the Colegio de Contadores de Chile, in conjunction with the Interamerican Development Bank (BID), has adopted a program of converging to International Financial Reporting Standards (IFRS). Starting January 2009, all business entities are required to prepare their financial statements in conformity with IFRS. For details, see the Deloitte website Chile Country Page and Country by Country Information.