• Since 1953 in mining.

• Mining of gold and silver in Peru.- Six majority-owned operating mines.- Aggressive and proven exploration program.- 43,6% stake in Yanacocha, Latin America’s largest gold

mine.

• Best geological information in Peru.

• Joint ventures with Newmont, Teck-Cominco, SPCC, BHP Billiton & Meridian Gold.

• Growing reserves, production and earnings.

• Quoted on the Lima Stock Exchange (BUE.LM) since 1971 and NYSE: BVN since 1996.

Cia. de Minas Buenaventura

• Focus on precious metals mining in Peru.

• Remain strong operating company.

• Upgrade operations.

• Generate reserves throug effective exploration.

• Pursue acquisitions preferably in Southamerica.

• Share risks through joint ventures.

• Long-term hedging policies.

• Permanent contact with our investors.

Strategy

Cost / Benefit of Allocation(US$ millions)

BEFORE OFFERING MAY 1996:Capital 42.8Investment shares 6.9Additional capital 5.0Total Equity 54.7

AFTER OFFERING MAY 1996:Capital 50.7Investment shares 7.9Additional Capital 163.6Total Equity 222.2

BENEFIT (OFFERING 1996): US$ 167.5

TOTAL NET EQUITY (09/30/02): US$ 518.5

Ownership structure

International Institutional

Investors, 47.1%

Peruvian AFPs, 10.8%

Treasury Stock, 7.7%

Private Investors, 34.0%

Outcomes

• Enhanced shareholder value.

• Increased our gold & silver production. Solid reserve base.

• Increased benefits for stakeholders.

• Improved our economic results. Raised the competitiveness and performance of the company.

• Improved and strengthened image and corporate reputation and good practices of corporate governance..

400

600

800

1.000

1.200

1.400

1.600

1.800

2.000

Aug-98 Feb-99 Aug-99 Feb-00 Aug-00 Feb-01 Aug-01 Feb-02 Aug-02

150

170

190

210

230

250

270

290

310

330

350

Market Cap. Gold Price

Improving Shareholders’ Value

US$/oz

US

$ m

il lio

ns

Corporate governance inLatin America - 2001

Rank Company Country Wtd CG

1 Aracruz Brasil 89,3

2 Itaú Brasil 84,1

3 Ultrapar Brasil 82,8

4 CVRD Brasil 77,7

5 Embraer Brasil 75,3

6 Bancomer Mexico 74,2

7 Unibanco Brasil 73,4

8 Antofagasta Chile 72,2

9 Grupo Pao de Acucar Brasil 71,7

10 Buenaventura Peru 71,5

Source: CLSA, 2002

1. Rights of shareholders of Buenaventura.

• Rights of shareholders are sufficiently defined and protected.

• Including the right of shareholders to participate in, and to be sufficiently informed on, decisions concerning fundamental corporate changes.

• Shareholders participate and vote in Annual and Extraordinary General Meetings.

Following principles ofcorporate governance

2. Equitable treatment of shareholders of Buenaventura.

• There is a equitable treatment of shareholders, including minority and foreign shareholders.

• Members of the board and managers can be required to disclosure any manterial interests.

• Change capital structure: one type of share.

Following principles ofcorporate governance

3. Role of stakeholders

• Recognise the rights of stakeholders as established by law.

• Implementing mechanisms to increase stakeholder participation.

Following principles ofcorporate governance

4. Disclosure and transparency

• In order to ensure that timely and accurate disclosure is made on all material matters regarding the corporation.

• Disclosure include material information on financial and operating results, company objectives, etc.

• Information is prepared, audited and disclosed in accordance with high quality standards of accounting.

• Annual audit is performed by an independent auditor.

• Channels for disseminating information are provide for fair and cost-efficient access to information by users.

Following principles ofcorporate governance

5. Responsibilities of the board

• They act on a fully informed basis and in the best interest for the company and the shareholders.

• The board is able to exercise objective judgement on corporate affairs. There is not conflict of interest.

• Board members have access to accurate, relevant and timely information.

• Functions: reviewing guiding corporate strategy, major plans of action; propose and appoint directors, etc.

• Ensuring the integrity of the company’s accounting and financial reporting systems.

Following principles ofcorporate governance

• Be careful with the environment.

• Respect to communities.

• Apply sound corporate governance.

Our principles

50 years in mining

www.buenaventura.comContact Person: Denise Garrido Telephone: (511) 419-2538 e-mail: dhuguet@buenaventura.com.pe

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Compañía de Minas

Compañía de Minas