Press Releases

LAN Airlines has become the first Chilean company to be certified under the Sarbanes-Oxley act

Santiago, May 4th, 2007

In the first quarter of 2007, LAN Airlines became the first Chilean company to successfully meet the requirements of Section 404 of the Sarbanes-Oxley Act regarding the effectiveness of internal controls on consolidated corporate financial statements.

This legislation requires all companies operating in the United States market to certify before the Securities and Exchange Commission (SEC), the authority that regulates the United States securities markets, the effectiveness of internal controls related to the creation and reporting of corporate financial statements. This organization ensures the stringency and transparency of financial information that companies deliver to the market.

In compliance with the requirements of this authority, this year LAN registered its financial statements for fiscal year 2006 with the SEC, including the certification issued by independent auditors of the company attesting that the controls were effective in all material aspects.

Alejandro de la Fuente, Vice President of Corporate Finance for LAN Airlines stated: “LAN became the first Chilean company to obtain this important certification, which points to our stringency as to the strict compliance with the regulation, and confirms the commitment of the company to the highest ethical standards of corporate governance, as well as its on-going concern for ensuring transparency, the highest level of controls in its procedures, and the creation of value for its investors."