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Affordable entry level” refers to housing developed by us in Mexico with a per unit sales price up to Ps.384,000.

Canadevi” means Cámara Nacional de la Industria de Desarrollo y Promoción de la Vivienda, the Mexican Home Building and Development Industry Chamber of Commerce.

CNBV” means the Comisión Nacional Bancaria y de Valores, the CNBV.

Conafovi” means the Comisión Nacional de Fomento a la Vivienda, the Housing Development Agency.

Conapo” means Consejo Nacional de Población, the Mexican National Population Council.

Conavi” means Consejo Nacional de Vivienda, the Mexican National Housing Council.

Fonhapo” means Fideicomiso Fondo Nacional de Habitaciones Populares, the Mexican Fund for Popular Housing.

Fovi” means Fondo de Operación y Financiamiento Bancario a la Vivienda, the Mexican Housing Operation and Bank Financing Fund.

Fovissste” means the Fondo de la Vivienda del Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado, the Mexican Social Security and Services Institute of the Public-Sector Workers’ Housing Fund.

FSU” means Financial Services Unit. FSUs are not separate legal entities or subsidiaries of Urbi.

High middle income” refers to housing developed by us in Mexico with a per unit sales price exceeding Ps.576,000 but not more than Ps.1.3 million.

INEGI” means the Instituto Nacional de Estadística, Geografía e Informática, the Mexican Institute of Statistics, Geography and Computer Sciences.

Infonavit” means the Instituto del Fondo Nacional de la Vivienda para los Trabajadores, the Mexican National Workers’ Housing Fund Institute.

Low middle income” refers to housing developed by us in Mexico with a per unit sales price exceeding Ps.384,000 but not more than and Ps.576,000.

MFRS” refers to accounting principles generally accepted in Mexico issued by the Consejo Mexicano para la Investigación y Desarrollo de Normas de Información Financiera.

Mortgage Commitment Backlog” means the number of homes for which the mortgage providers have confirmed to us that mortgage financing will be made available once we locate qualified home buyers.

NAFTA” means the North America Free Trade Agreement.

NCPI” means the Indice Nacional de Precios al Consumidor, the Mexican National Consumer Price Index.

NIF” means Normas de Información Financiera, the Mexican Financial Reporting Standards.

Northern States” means the Mexican states of Baja California, Chihuahua, Coahuila, Nuevo León, Sonora and Tamaulipas.

Official Gazette” means Diario Oficial de la Federación.

SBU” means Strategic Business Unit. SBUs are not separate legal entities or subsidiaries of Urbi.

Sedesol” means the Secretaría de Desarrollo Social, the Mexican Ministry of Social Development.

SHF” means the Sociedad Hipotecaria Federal, S.N.C., Institución de Banca de Desarrollo, the Mexican Federal Mortgage Bank.

SMG” means Salario Mínimo General Mensual del Distrito Federal, the minimum monthly general wage in Mexico City, Federal District. At December 31, 2006, one SMG was equivalent to Ps.1,537. Unless otherwise specified, all references herein to SMGs and Dollar equivalents of SMG multiples are calculated based on the SMG as adjusted, and the Peso-Dollar exchange rate, as of December 31, 2006.

Sofoles” means Sociedades Financieras de Objeto Limitado or limited purpose financial companies.

Sofomes” means Sociedades Financieras de Objeto Múltiple or multiple purpose financial companies.

TIIE” refers to the 28-day Mexican interbank rate (Tasa de Interés Interbancaria de Equilibrio), which was 7.3675% as of December 29, 2006.

UDIs” means Unidades de Inversión, a unit of account the value of which in Pesos is indexed to inflation on a daily basis, as measured by the change in the NCPI.

Upper income” refers to housing developed by us in Mexico with a per unit sales price of more than Ps.1.3 million.

Urbi” means Urbi, Desarrollos Urbanos, S.A.B. de C.V. References to “we,” “us” or “our” mean Urbi and its subsidiaries, collectively.

Urbi VidaResidencial” is the registered trademark under which we commercialize and advertise our housing developments.

 

 



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