Alsacia & Express Disclose Information Provided to Informal Group

Santiago de Chile, October 13, 2016

In connection with negotiations relating to the amendment of its concession agreement with the Chilean Ministry of Transportation and Telecommunications (the "MTT") and the restructuring of its outstanding indebtedness, on June 29, 2016, Inversiones Alsacia S.A. (together with its affiliates, the "Company") entered into a forbearance agreement and confidentiality agreement with the members of an ad hoc group (the "Informal Group") of holders of the 8% Senior Secured Notes due 2018 issued by the Company. The negotiations between the Company and the MTT reached an impasse and the forbearance expired on September 26, 2016.
During the course of the negotiations, the Company provided the members of the Informal Group with the Company projections attached hereto (the "Disclosed Information"), which constitute material non-public information relating to the Company. The Company expects the actual results to lag behind these projections. Pursuant to the confidentiality agreements, the Company agreed to publicly disclose the Disclosed Information upon the termination of the forbearance agreement. The information disclosed herein is being furnished to comply with the Company's obligations under the confidentiality agreement.

Important Note
The Disclosed Information should not be regarded as an indication that the Company or any other person considered, or now considers, this information to be predictive of actual future results, and does not constitute an admission or representation by any person that such information is material, or that the expectations, beliefs, opinions and assumptions that underlie these materials remain the same as of the date of this disclosure and the information or as of the date indicated contained in these materials may have been superseded by subsequent developments. Readers are cautioned not to place undue reliance on these materials.

Projections/ Forward Looking Information
Projections are included in the material set forth herein. Such projections have not been examined by auditors. The projections and other material set forth herein contain certain statements that are "forward looking statements". These statements are subject to a number of assumptions, risks, and uncertainties, many of which are and will be beyond the control of the Company including the continuing availability of sufficient borrowing capacity or other financing to fund future principal payments of debt, existing and future governmental regulations and actions of government bodies and other market and competitive conditions. These statements speak as of the date indicated and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and the Company undertakes no obligation to update any such statements.

The projections, while presented with numerical specificity, are necessarily based on a variety of estimates and assumptions which, though considered reasonable by the Company, may not be realized and are inherently subject to significant business, economic, competitive, industry, regulatory, market and financial uncertainties and contingencies, many of which are and will be beyond the Company's control. The Company cautions that no representations can be made or are made as to the accuracy of the historical financial information or the projections or to the Company's ability to achieve the projected results. Some assumptions may prove to be inaccurate. Moreover, events and circumstances occurring subsequent to the date on which the projections were prepared may be different from those assumed, or, alternatively, may have been unanticipated, and thus the occurrence of these events may affect financial results in a materially adverse or materially beneficial manner.

Non-GAAP Information
The financial information reflected in the Disclosed Information does not purport to present the Company's financial condition in accordance with accounting principles generally accepted in the United States, Chile or any other country. The Company's independent accountants have not audited or performed any review procedures on the Disclosed Information (except insofar as certain historical financial information may have been derived in part from the Company's historical annual financial statements).