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I All redactions made pursuant to exemptions (b)(6), (b)(7)(C), (b)(7)(F)LA W OFFICESBECKER Bt POLIAKOFF, P.A.

Florida OfficesAdministrative Office3111 Stirling HoadFt Lauderdale. FL 333UUS Toll Free. (8001 432-7712bpSbecker-poliakofUomBoca Raton"F;. MyersFl. Walton BwchHollywoodJack.sonWlleMelbourne'MiamiNaplesOrlandoPort Charlotte'St. PecersbiugS u r s s o t i iTallahasseeTamps)Wi Palm Reich

btcker-poliakoff.com

January 10,2002R. Richard New comb, DirectorOffice of Foreign Assets ControlU.S. Department of the Treasury1500 Pennsylvania Ave., NW . - Annex.Washington, D.C. 20220

RE; Removal of Industria de Pesca Sobre el Pacifico, S.A. (a.k.a.Inpesca, S.A.) from the Specially Designated Narcotics TraffickerListDear Director Newcomb:

This letter is to request, pursuant to 31 CFR 501.807, that the designationof Industria de Pesca Sobre el Pacifico, S.A. (a.k.a. Inpesca, S.A.) as aSpeciallyDesignated Narcotics Trafficker (hereinafter "SDNT") be rescinded because thecircumstances resulting inthe designation no longer apply. What follows arearguments and evidence that Inpesca proposes as remedial steps on Inpesca'sbehalf, including corporate reorganization and resignation of blocked persons fromemployment positions at Inpesca which negate the basis for designating Inpesca asan SDN T. We request, pursuant to 31 CFR 501.80 7(c), a me eting with the Officeof Foreign Assets Control (hereinafter "OFAC") todiscuss this matter prior toOFAC completing its review of this request for reconsideration.

Inpesca, along with anumber of individuals associated with Inpesca, wasadded as an SDNT on May 24, 20 01. See 66 Fed. Reg. 104. According to theOFAC website:

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International andAffiliated OfficesPrague,Czet-h RepublicPans. FranceFrankfurt. GemuimBeijing,People's Republicol ChinaBern. Switzerland

Changes to the SDNT List in 2001' C O N S U L E G I S E E K

Member of Omiulcgis.3n Inicrnjtidliil Atwcijuunuf Lai. fimu.

Network of Leading Law Firms

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R. Richard Newcomb, DirectorJanuary 10, 2002Page 2

4/24/01The following names have been added to OFAC's listing of Specially DesignatedNational and Blocked Persons as "Specially DesignatedNarcotics Traffickers" ISDNTs):INPESCA S.A. (a.k.a. INDUSTRIA DE PE SCA SOBR E E L PAC IFICO S.A.) Km. 5 ElPinal, Buenaventura, Colombia; Av. Simon Bolivar Km. 5 El Pnal, Buenaventura,Colombia; NIT # 890302172-4 (Colombia) [SDNT]Also included on that particular addition were the following persons, each of whom was

or remains a shareholder, m anager, or mem ber of theBoard of Directors of INPE SCA .

INPESCA should be removed from the SDNT list because each of the above persons, andothers that may be on the SDN T list, have been removed from any association with IN PE SCA . Ahistory of the company, INPE SCA , follows. Documentary proof establishing the informationstated below has been enclosed with this request and marked with the Exhibit numbercorresponding to each reference herein.Industria de Pesca Sobre el Pacifico Limitada "Inpesca, Ltda." (the "Company") was

organized and incorporated in 1960 in Buenaventura, Colombia, for the purpose of among otherthings, general fishing, financing independent fisheries and fishermen, purchasing and storinfise af ooi an d to ta io nof se ai oo d Its original owners were H f l H H H H H H M H M H H H Ia n d H H H H H H H H H H H a c h contributed $75,000 Colombian pesos ("CP") (in formof land, personal property, and cash) as capital contributions for a total of $150,000 CP. (EXHIBIT1 ,, PUBLIC WRITING N O . 21 2, April 12, 1960). In 1963, the Company's capital was increased to$250,000 by each of the two ow ners contributing another $50,000 CP . Ag ain in 1964, the capital

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R. Richard Newcomb, DirectorJanuary 10, 2002Page 3

was increased to $450,000 CP by equal contribut ions by ea ch o^ he ow ne rs o^ lO O ^O O C PM n1973, the Company's capital is increased to $2,500,000 and H M ^ ^ H ^ ^ ^ ^ ^ H H M Hand H f l ^ l ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ H wereintroduced as new stock holders in addition to the prev ious o wners. (EXHIBIT 2, PUBLIC WRITINGN o. 1211 December 26, 1973).Over the next twelve years the company's capital was increased to 100,000,000 CP andin 1989 the com pany w as sold to the following parties in the following prop ortions: (1)Maragricola S.A. 94%, (2) Inversiones Holguin Hurtados S. en C.I. 1.5%, (3) N. Hurtado y CIA.S.A. 1.5%, (4) Central Dona Ana S.A. 1.5%, and (5) Distribuidora Dona Ana Ltda 1.5%.

(EXHIBIT 3, PUBLI C W RI TI NG NO. 3758, September 12, 1989). The following year, the companywas changed from limited status to "anonymous" status. (EXHIBIT 4, PUBLI C W RI TI NG NO. 3899August 23, 1990).The next transformation of the company is evidenced in the minutes from its 1993shareholder's meeting that show a sale of the company to the following stockholders in thefollowing percentages:

N A M E STOCK16,00016,00018,0004,0002,0002,000.000130,000010,00010,00010,000

P E R C E N T A G E8%8%9%2%1%1%1%5%5%5%5%

1 For Ease of Reference, I have bolded the names of all the people involved w ho are curren tly on the OFAC listupdated as of October 12, 2001.

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R. Richard Newcomb. DirectorJanuary 10,2002Page 4

TOTAL

10,00020,00020,00010,00010,00010,00020,0000200,000

5%10%10%5%5%5%10%100%

(EXHIBIT 5, AC T No . 4)In the 1995 Share holde r's meeting, it is shown that the ownership was as follows:

Taura, S.A.Galipagos, S.A.Desarollos Agroindu striales, S.A.C.I. del Occidente, S.A.

48,360 shares48,320 shares75,920 shares19,940 shares520 shares6,940 shares

The Minutes for the 1996 Shareholders' meeting reflect the sale of Taura, S.A. andGalapagos, S.A.'s shares of stock. The entire stock ow nership is transferred to new ow ners in thefollowing amounts and propo rtions:N A M E 1 SHARES46,0008,000

8,00014,00060,000

PERCENTAGE2 3 %4%4%7%30 %

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R. Richard Newcom b, D irectorJanuary 10, 2002Page 5

16%2,00032,000 16%200,000 100%

(EXHIBIT 7, A C T N O . 14, April 1,1996).The Minutes for (he 1997 shareholders' meeting reflect(currently on the OFAC list) purchased all 8,000 of

( EXHI BI T 8, ACT NO. 3 8, April 30, 1997). In a separate meeting,one of the directors of the co rporation (EXHIBIT 9, ACT NO. 20, May 30, 1997).shares[replaces

In 1998, a shareholders' meeting was held to elect new Board of Directors, whichincludedBBBBBHI^^BBIBBBi(currently on the OFAC list). (EXHIBIT 10, ACT NO. 22,March 31, 1998). AdditionalIyT^^M______________l (14,000 shares/7%) transferred hisshares to f lHHHH H^HHH| ^^^^HH iH^HHi (32,000 shares/16%) transferred hisshares to____________________^(EXHiBrr 11, ACTNO. 23, October 30, 1998).

The 1999 shareholders' meeting illustrates new transfers of shares resulting in twoshareholders, who are on the OFAC list:| NAME

_______(OFAC list).BUB!.K O F A C l i s t ^ ^ ^ ^ ^ ^ ^

T O T A L

SHARES60,00032,000

32,00016,000

14,00046,000200,000

P E R C E N T A G E30 %16%

16 %8%

7%2 3 %100%

( EXHI BI T 12, A C T N O . 25, August 17, 1999.)According to the Certificate of Existence and Representation from Colombia (EXHIBIT13), as of 1999, the members of the Board of Directors of Inpesca were:Directors:

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1.2.3.4.5.6.

The following steps have been taken by Inpesca which should convince OFAC to removeInpesca from the SDNT list.

jhave been removed from any ownership and management of Inpesca.Consequently, the alleged change in ownership and control of Inpesca may besubstantiated by an investigation by OFAC, and, upon request, submission ofevidence confirming the statements m ade in this letter of requ est.According to the OFAC regulations at 31 C.F.R. 536.408(a):

A change or alleged change in ownership or control of an entitydesignated as a specially designated narcotics trafficker shall not be thebasis for removal of that entity from the list of specially designatednarcotics traffickers unless, upon investigation by the Office of ForeignAssets Control and submission of evidence by the entity, it isdemonstrated to the satisfaction of the Director of the Office of ForeignAssets Control that the transfer to a bona fide purchaser at arm's length islegitimate and that the entity no longer meets the criteria for designationunder $ 536.3 12. E vidence submitted must conclusively demon strate thatall ties with other specially designated narcotics traffickers have beencompletely severed, and may include, but is not limited to, articles ofincorporation; identification of new directors, officers, shareholders, andsources of capital; and contracts evidencing the sale of the entity to itsnew owners.i interests in Inpesca have been validly transferred to a bona fidethird party purchaser in an arm's length transaction, ^ I H H H H i shares were as well

(EXHIBITS 14 and 15). Ad ditiona lly, they have both resigned their positions as |

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of Inpesca, evidenced by a proper shareholder's meeting which named their replacements(EXHIBIT 16).2. Replacement of

I was thefor Inpes ca from M arch 2000 to MarcTformally replaced (EXHIBIT 17).(for lack of a better term)ie SDNT list, but he has since been001, and he was on

The circumstances resulting in the designation of Inpesca as a 'blocked person', asdefined at 31 CFR 50l.8 07 (a) no longer apply. Pursuan t to that section, we have proposedsteps that Inpesca believe s would negate the basis for such continued designation. Inpesca hasaggressively reo rganized its corporate structure, forced ce rtain persons to resign from positions inthe blocked entity, and ta ken other similar actions.

Inpesca d esires to resum e regular business in the Un ited States as soon as possible. Pleasecontact me with any question s regarding this memorandum or this matter generally. Pursuant to31 CFR 501.808(b), please identify any and all further information or documentation that yourequire be submitted to substantiate the statements made in this letter to unblock Inpesca fromdoing business in the United States.

For the FirmEnclosures684243_3 DOC01/10/02

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