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Press Release Source: Grupo Aeroportuario del Pacifico, S.A.de C.V. Grupo Aeroportuario del Pacifico Announces Investments
in Los Cabos International Airport GUADALAJARA, Mexico, July 24 /PRNewswire-FirstCall/ -- Grupo Aeroportuario del Pacifico, S.A. de C.V. (NYSE: PAC; BMV: GAP) ("the Company" or "GAP") announced today that on Thursday, July 27, 2006 GAP will select the construction company for the Ps. 200 million expansion at the Los Cabos International Airport in accordance with the investment obligations of the 2005-2009 Master Development Plan. The expansion will include the construction of a taxiway parallel to the runway, the expansion of airplane parking platforms, the construction of new gates, etc. With these modifications, the airport will increase its arrival and departure capacity by 50%. In addition, Grupo Aeroportuario del Pacifico is in the final stages of adapting the airport to meet future demand and will present at the end of this fall an extensive construction plan of considerable investment, which will include amplifications to the terminals as well as platforms. Finally, during the four-year period of 2000-2004, Ps. 568 million was invested at the Los Cabos Airport, per the Master Development Plan of Ps. 500 million, which exceeded its commitment by 113%. For the first year-an-a half of the 2005-2009 period, GAP has invested Ps. 35 million, out of a committed Ps. 23 million, representing a commitment of 150%. A further update is pending when additional details become available. Company Description: Grupo Aeroportuario del Pacifico, S.A. de C.V. (GAP) operates 12 airports throughout the Mexican Pacific region, including the main cities such as Guadalajara and Tijuana, four tourist destinations in Puerto Vallarta, Los Cabos, La Paz and Manzanillo in addition to six other medium-size cities such as Hermosillo, Bajio, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, the shares of GAP were listed on the New York Stock Exchange under the symbol "PAC" and in the Mexican Stock Exchange under the symbol "GAP". This press communication may contain in the statements some estimates. These statements are non-historical facts and are based upon the current vision of the administration of GAP on the future economic circumstances, industry conditions, performance of the company and financial results. The words "anticipated," "believes," "estimates," "expects," "plans" and such other similar expressions, in connection with the Company, are intended to identify the estimations or expectations. The statements regarding the statement or payment of dividends, the implementation of the main operation and financial strategies and capital investment plans, the course of future operations and the factors or streams that affect the financial condition, cash flow for prompt payment or the results of operations are examples of the stated estimations. Such statements show the current vision of the management and are subject to several risks and possible future events. There is no guaranty that the expected events, streams or results will actually occur. The statements are based upon several assumptions and factors, including the general economic and market conditions, industry conditions and the operation factors. Any change in such assumptions or factors could cause the actual results to be materially different from the current expectations. |
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