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| El Sitio, Inc. |
| Avenida Belgrano 845, Buenos Aires, Argentina 1092 |
| Business Description | The company is an Internet network providing country-specific and regional content for Spanish-and Portuguese speaking audiences in Latin America and the United States. |
| Offering Information Company has | |||
| Trading As | LCTO (NASNTL) | Industry | Internet (SIC 7379) |
| Type of Stock Offered | Common Shares | Filing Date | 11/19/99 |
| Domestic Shares Offered | 8,200,000 | Offer Date | 12/9/99 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 8,200,000 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.120 |
| Gross Proceeds | $131,200,000 | Selling | $0.670 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 38,574,460 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Fidelity Capital Markets | Co-manager | |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Wit Capital Corporation | Co-manager | (212) 253-4400 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | |||
| Revenues | - | - | - | 0.267 | 0.780 | 0.609 | 1.524 |
| Income from Oper. | - | - | - | -0.904 | -3.497 | -1.762 | -13.385 |
| Net Income | - | - | - | -1.014 | -3.517 | -1.792 | -13.903 |
| E.P.S | - | - | - | -10.140 | -1.150 | -0.870 | -1.180 |
| Revenue Growth (%) | - | - | - | 192.135 | 150.25 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -3.22 | -2.00 | -11.22 | ||||
| Cash Flow - Inv. | -0.73 | -0.37 | -1.55 | ||||
| Cash Flow - Fin. | 4.11 | 2.71 | 36.82 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 33.12 | Current Assets | 26.58 | Current Ratio | 4.20 |
| Total Liab. | 44.68 | Current Liab. | 6.33 | Debt Ratio | 134.89% |
| Total Equity | -11.56 | Working Cap. | 20.26 | Debt to Equity Ratio | - |
| Cash | 24.39 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to fund our sales and marketing, and branding and advertising activities; to develop new services and products, and to develop our network infrastructure; to pay dividends in respect to our Class A convertible preferred shares, for general corporate purposes and working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Paul, Hastings, Janofsky & Walker |
| Bank's Law Firm | Simpson, Thacher & Bartlett |
| Auditor | Deloitte & Touche |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| IAMP Investments, Ltd. | 20.70 | |
| IMPSAT Corporation | 20.20 | |
| SLI.com Inc | 16.10 | |
| Militello Limited | 15.20 | |
| Tower Plus International | 7.60 | |
| Note: represents ownership of 5% or more prior to the offering. | ||