INDUSTRIAL AND INTELLECTUAL PROPERTY

Bavaria S.A. or its licensors, as the case may be, owns part or all the information, content, data, databases, graphs, interfaces, web pages, texts, archives, software, product names, company names, trademarks, logotypes and trade names included in this web site (hereinafter the “Content"), as well as the way in which the Content is displayed or shown. Consequently, such Content may not be used in any manner, and neither for any purpose, without the written permit of Bavaria S.A., except as herein foreseen.

Without this implying a waiver of the preceding rights, Bavaria S.A. hereby grants a license to access and the authorization to download a copy of the Contents of this site for your personal use (not commercial), provided you do not delete or change any copyright, trade mark or any other warning.

The above authorization must not be considered a concession, license or right to use patents or trademarks of Bavaria S.A. or of any third party.

The modification or use of the Contents of this site for any other purpose implies a breach of the legal rights of Bavaria S.A.

All proprietary rights, either industrial or intellectual, on the Contents of this web page belong to Bavaria S.A. or its licensors, as the case may be.

CONFIDENTIALITY POLICY

The confidentiality policy herein shall be considered effective as of 15th April 2004.

The web page www.geb.com belongs to BAVARIA S.A.; access therein is subject to the terms and conditions set forth in this confidentiality policy.

Please read all the terms and conditions contained herein carefully prior to the use of this web page or before you provide any type of information.

Consent. - The use or access to our web page your knowledge and express consent, without prejudice of the terms and conditions established in this confidentiality policy.

Personal information. – While using or browsing through our web page, you may be requested certain personal information that, once provided by you, its submittal shall be considered free, voluntary and in accordance with our confidentiality policy.

Such information may be disclosed to our associated companies worldwide for their utilization and treatment, in accordance with this confidentiality policy.

Likewise, we may provide personal information to third parties not associated with us in the following events: a. To contractors executing contracts in furtherance of our activities; b. Transfer of a business line associated with the information. At any rate, information shall be handled in accordance with this confidentiality policy.

Personal information is requested to improve, promote and develop our products and those of our partner companies worldwide; furthermore, information may be used by us for marketing, research and other non-commercial purposes that do not infringe the legislation in force in Colombia.

In our opinion, personal information is such information submitted by an individual, which will identify or will make such individual identifiable, such as full name, e-mail, address, telephone numbers, identity document and date of birth.

Bavaria S.A. is aware of its responsibility and the trust you placed in us, and we acknowledge your right to protect and control the personal information you provide us with. You have the right to access, supplement, include, exclude, correct, add or delete the personal information entered into this web site, or submitted via e-mail.

Information obtained in a passive manner. – When you access or use the services contained in the web page, we may collect information in a passive manner through information management technologies such as “cookies”, information on the equipment hardware and software, IP address, explorer type, operative system, domain name, access time and the addresses of the web sites of origin. We also collect information about the web pages you visit often in this web site.

Personal information security. – We will provide the means needed and appropriate for protecting the personal information you provide us with, in order for it to be fully updated and protected against unauthorized access, destruction, undue use, modification or disclosure. We hereby declare that our obligation and responsibility is limited only to having the appropriate means available for such purpose. Notwithstanding the above, we do not guarantee complete security of your information.

License to use your information. – Except for your personal information, you hereby grant us an indefinite, royalty-free, worldwide, non-exclusiveness and irrevocable license to use, exhibit, copy, reproduce through any means, publish, compile, distribute, market, prepare or develop derivative works, adapt, translate, transmit, arrange, modify, sub-license, export, merge in any way, transfer under any title, lend, lease, rent, split, share, publish in the web site, make available to any individual or use in any manner the information or the content you publish in this web site, or which is submitted by e-mail or by any other correspondence means, including, without this implying any limitation whatsoever, any idea, concept, invention, know-how, technical expertise, technical knowledge or any other intellectual feature contained in the information supplied by you for any purpose. We shall not be obliged, in any way, to keep such information or any other right confidential, unless there is a written, prior and express agreement between you and our company otherwise, in accordance with the Colombian laws. You declare that you act on your own behalf and that you have the right to grant the license herein established.

Modifications. – We reserve our right, at our sole discretion, to unilaterally change, modify, add or delete this confidentiality policy in whole or in part at any time, and without prior notice and, therefore, we suggest your visiting this document regularly. To verify if it has been amended or not, we suggest taking the implementation date of each document into account.

LIABILITY, LIMITS AND EXCLUSIONS

Bavaria S.A. will do its best efforts to offer through its Web page accurate, current and full information about its operations and products; however, Bavaria S.A., aware of the permanent evolution of its businesses and operations, does not ensure the validity and accuracy of the information published on its web page.

Bavaria S.A. shall not be obliged to maintain or update its Web page and shall not be liable for any prejudice resulting from the impossibility to access such page.

The information available on Bavaria S.A.’s web page is for information purposes only; consequently, Bavaria S.A. shall not be liable for any prejudice that could be cause for the undue use that a third party may give to the information published on the web page.

Bavaria S.A. shall not be liable for the use that any individual may give to the information published on its web page for investment decision-making, with respect to the stock issued by Bavaria S.A.

Bavaria S.A. assumes no liability for the damages and prejudices that may be caused to a third party, either directly or indirectly, due to viruses or other harmful elements that could be transmitted through its web page.

The user of the Web page shall be liable for any prejudice or damage caused to Bavaria S.A. or to any of its subordinate companies, for the undue use of Bavaria S.A.’s Web page and for any other infringement or failure to comply with the terms and conditions established in our confidentiality policy.

All summoning to the general shareholders’ assemblies shall be made as established in Bavaria S.A.’s by-laws; that is to say, by publishing an ad in at least two (2) newspapers in Bogotá, D.C.

Bavaria S.A.’s shareholders’ right to inspect may only be exercised at the company’s administration offices in the manner and at the times established by law.

Bavaria S.A. complies with its legal obligations of supplying information to the stock exchange market through its year-end, quarterly and material event information, which is submitted to the Colombian Superintendence of Securities. Should there be any contradiction or discrepancy on the information published on Bavaria S.A.’s Web page and that reported to the Superintendence of Securities, the latter shall prevail.

All matters related to this Web page are governed under the laws of the Republic of Colombia.

In the event of controversies, differences or any type of claim arising in relation to this Web page shall be submitted to the decision of an Arbitration Court, which shall adhere to the legal norms in force in the Republic of Colombia, which shall operate in the city of Bogotá D.C. and will be comprised of three arbitrators who shall be directly appointed by the Conciliation and Arbitration Centre of the Chamber of Commerce of Bogotá.