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Altamira Assessing Exploration Services Player in Growth Strategy Development

Madrid, November 22nd, 2010 – Industrial Services

Altamira has entered into talks with Aretech Solutions for the purchase of its Exploration Services (AES) arm.

AES is specialized in airborne geophysical exploration for the Mining and Oil & Gas industry, mostly focusing on countries in Sub-Saharan Africa and South America, with operations in Brazil and South Africa.

With an aggressive growth plan involving capacity increases, technology upgrades and planned mergers, AES is ideally positioned to play an active role in the industrial consolidation of a highly fragmented sector dominated by Fugro of The Netherlands.

Altamira will be fronting a pool of three investors who have decided to join forces for the acquisition.

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