June 17th – 19th, 2012

After Sales Service Market Visit 2012

BREITLING C a r i b b e a n

Panama

Mr. Yvan Yerly

PANAMA

After Sales Service Market Visit 2012

BREITLING C a r i b b e a n

Sunday June 17th 1:50 p.m. Y. Yerly arrives in Panama; Juan Carlos will pick up from airport

Transfer to hotel

DINNER

Monday June 18th

9:00 a.m. Grupo Wisa Watchmaker Audit; Betzabel pick up from hotel

1:00 p.m. Lunch – Betzabel, Marissa Mendieta, Ramon Barrios

7:00 p.m. DINNER – Marisa Mendieta, Ramon Barrios

Tuesday June 19th

5:00 a.m. Juan Carlos will pick up at hotel to transfer to airport

7:15 a.m. Y. Yerly flight departs

PANAMA

Panama officially the Republic of Panama is the southernmost country of Central America. The Panama Tourist Attractions comprise the parks, beaches, national reserves and wildlife forests that exemplify the culture and the tradition of the country and the strong roots of the past that the country and its people still harbor in their buzzing lifestyle. While the beaches are the biggest resort for relaxation and calmness, the city centers with their numerous malls and plazas offer the luxury that one can only imagine of. The reserve forests are home to some of the most beautiful animals and plants. Amidst the karaoke of bird songs, one is sure to forget all the qualms and delve into the bounty of mother nature. A little step ahead is the solemn isolation of islands that are ideal for a meditative mood. 

Panama Country Statics

• Location: Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica

• Climate: Tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May)

• Capital: Panama City

• Population: 3,510,045 (July 2012 est.)

• Government Type: Constitutional Democracy

• Head of Government: President Ricardo MARTINELLI Berrocal (since 1 July 2009); Vice President Juan Carlos VARELA (since 1 July 2009)

• Industries: Construction, brewing, cement and other construction materials, sugar milling

• Economy Overview: Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. Services include operating the Panama Canal, logistics, banking, the Colon Free Zone, insurance, container ports, flagship

registry, and tourism. Economic growth will be bolstered by the Panama Canal expansion project that began in 2007 and is scheduled to be completed by 2014 at a cost of $5.3 billion - about 10% of current GDP. Panama's booming transportation and logistics

services sectors, along with aggressive infrastructure development projects, have lead the economy to continued growth in 2011. Strong economic performance has not

translated into broadly shared prosperity, as Panama has the second worst income distribution in Latin America.

• GDP – composition by sector: Agriculture: 4.3%

Industry: 16.6%Services: 79.1% (2011 est.)

La Hora - Wisa I Tocumen Airport La Hora Multi Pacific La Hora Allbrook Mall La Boutique - Colon Free Zone TOTAL

2009 293113.9 184957.38 13820 33484 525375.279999999

2010 408813.48 81501.49 28965 23825 543104.97

2011 527096.789999999 209157.95 32767.36 24568 793590.1

09 / 10 %+- 0.394725668076472 -0.559349889147435 1.09587554269175 -0.288466133078486 0.0337467153003467

10 / 11 %+- 0.289333194198978 1.56630829694034 0.13127429656482 0.0311857292759707 0.461209423290676

$50,000

$150,000

$250,000

$350,000

$450,000

$550,000

$650,000

$750,000

$850,000

Breitling Caribbean Panama Market Retail Sales "sale out" Dollars Comparison Active Locations 2009 - 2011 YTD Jan - Dec

Panama Market Jan - Dec Retail Sales Dollars Increased 46.12%

La Hora - Wisa I Tocumen Air-port

La Hora Multi Pacific La Hora Allbrook Mall La Boutique - Colon Free Zone TOTAL

2009 76 35 2 8 121

2010 103 21 8 8 140

2011 130 43 8 5 186

09 / 10 %+- 0.355263157894737 -0.4 3 0 0.15702479338843

10 / 11 %+- 0.262135922330097 1.04761904761905 0 -0.375 0.328571428571429

25

75

125

175

Breitling Caribbean Panama Market Retail Sales "sale out" Pc's Comparison Active Locations 2009 - 2011 YTD Jan - Dec

Panama Market Jan - Dec Retail Sales Pc's Increased 32.86%

La Hora - Wisa I Tocumen Airport

La Hora - Wisa III Tocumen Airport

La Hora Multi Pacific La Hora Allbrook Mall La Boutique - Colon Free Zone TOTAL

2009 104740 0 89220 0 5500 199460

2010 107615.96 0 27512.01 17635 9200 161962.97

2011 177466.81 0 55351.19 14130 0 246948

2012 204781.6 45562.4 60338 6974.36 0 317656.36

09 / 10 %+- 0.0274580866908536 -1 -0.691638533960996 1 0.672727272727273 -0.187992730372005

10 / 11 %+- 0.649075192936067 -1 1.01189189739317 -0.198752480861923 -1 0.524718890990947

11 / 12 %+- 0.153914920767438 1 0.0900939979790859 -0.506414720452936 -1 0.286328943745242

$25,000

$75,000

$125,000

$175,000

$225,000

$275,000

$325,000

Panama Market Retail Sales "sale out" Dollars Comparison Active Locations 2009 - 2012 YTD Jan - Apr

Panama Market YTD Retail Sales Dollars Increased 28.63%

La Hora - Wisa I Tocumen Airport

La Hora - Wisa III Tocu-men Airport

La Hora Multi Pacific La Hora Allbrook Mall La Boutique - Colon Free Zone

TOTAL

2009 29 0 14 0 1 44

2010 22 0 7 5 2 36

2011 46 0 11 4 0 61

2012 45 12 13 2 0 72

09 / 10 %+- -0.241379310344828 -1 -0.5 1 2 -0.181818181818182

10 / 11 %+- 1.09090909090909 -1 0.571428571428572 -0.2 -1 0.694444444444445

11 / 12 %+- -0.0217391304347826 1 0.181818181818182 -0.5 -1 0.180327868852459

5

15

25

35

45

55

65

75

Panama Market Retail Sales "sale out" Pc's Comparison Active Locations 2009 - 2012 YTD Jan - Apr

Panama Market YTD Retail Sales Pc's increased 18.03%