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<body lang=ES link=blue vlink=purple>

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<p class=MsoNormal style='background:white'><font size=3 color=black
face=Calibri><span lang=ES-MX style='font-size:12.0pt;font-family:Calibri;
color:black'> <o:p></o:p></span></font></p>

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0px'><font size=3 color=black face=Calibri><span lang=ES-MX style='font-size:
12.0pt;font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

<p class=MsoNormal style='background:white;widows:2;orphans:2;word-spacing:
0px'><font size=3 color=black face=Calibri><span lang=ES-MX style='font-size:
12.0pt;font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

<p class=MsoNormal align=center style='text-align:center;widows:2;orphans:2;
word-spacing:0px'><font size=3 color=black face=Calibri><span lang=ES-MX
style='font-size:12.0pt;font-family:Calibri;color:black'><a
href="http://observatorio.azc.uam.mx/pdf/RemacFebrero12.pdf" target="_blank"><span
style='text-decoration:none'><img border=0 width=742 height=1049
id="_x0000_i1025" src="cid:9740064BA36D40CE8A9C070D007EA452@FChavez1"
alt=Febrero02></span></a><o:p></o:p></span></font></p>

<p class=MsoNormal align=center style='text-align:center;widows:2;orphans:2;
word-spacing:0px'><font size=3 color="#454545" face=Arial><span lang=ES-MX
style='font-size:12.0pt;font-family:Arial;color:#454545'> </span></font><font
color=black face=Calibri><span lang=ES-MX style='font-family:Calibri;
color:black'><o:p></o:p></span></font></p>

<p class=MsoNormal style='background:white;widows:2;orphans:2;word-spacing:
0px'><font size=3 color=black face=Calibri><span lang=ES-MX style='font-size:
12.0pt;font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

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size=3 color=black face=Calibri><span lang=ES-MX style='font-size:12.0pt;
font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

<p class=MsoNormal style='line-height:14.4pt;background:white;widows:2;
orphans:2;background-origin:initial;background-clip:initial;word-spacing:0px'><font
size=3 color=black face=Calibri><span lang=ES-MX style='font-size:12.0pt;
font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

<p class=MsoNormal style='line-height:14.4pt;background:white;widows:2;
orphans:2;background-origin:initial;background-clip:initial;word-spacing:0px'><font
size=3 color=black face=Calibri><span lang=ES-MX style='font-size:12.0pt;
font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

<p class=MsoNormal style='line-height:14.4pt;background:white;widows:2;
orphans:2;background-origin:initial;background-clip:initial;word-spacing:0px'><font
size=3 color=black face=Arial><span lang=ES-TRAD style='font-size:12.0pt;
font-family:Arial;color:black'>Consúltalo en:</span></font><font color=black
face=Calibri><span lang=ES-MX style='font-family:Calibri;color:black'><o:p></o:p></span></font></p>

<p class=MsoNormal style='line-height:14.4pt;background:white;widows:2;
orphans:2;background-origin:initial;background-clip:initial;word-spacing:0px'><font
size=3 color=black face=Calibri><span lang=ES-MX style='font-size:12.0pt;
font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

<p class=MsoNormal style='line-height:14.4pt;background:white;widows:2;
orphans:2;background-origin:initial;background-clip:initial;word-spacing:0px'><font
size=3 color=black face=Calibri><span lang=ES-MX style='font-size:12.0pt;
font-family:Calibri;color:black'><a
href="http://observatorio.azc.uam.mx/pdf/RemacFebrero12.pdf" target="_blank"><font
face=Arial><span style='font-family:Arial'>http://observatorio.azc.uam.mx/pdf/RemacFebrero12.pdf</span></font></a></span></font><font
color=black><span lang=ES-MX style='color:black'> </span></font><font
color=black face=Calibri><span lang=ES-MX style='font-family:Calibri;
color:black'><o:p></o:p></span></font></p>

<p class=MsoNormal style='line-height:14.4pt;background:white;widows:2;
orphans:2;background-origin:initial;background-clip:initial;word-spacing:0px'><font
size=3 color=black face=Calibri><span lang=ES-MX style='font-size:12.0pt;
font-family:Calibri;color:black'><a href="http://observatorio.azc.uam.mx/"
target="_blank"><font color="#0658b5" face=Arial><span lang=ES-TRAD
style='font-family:Arial;color:#0658B5'>http://observatorio.azc.uam. mx/</span></font></a><o:p></o:p></span></font></p>

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<p class=MsoNormal style='line-height:14.4pt;background:white;widows:2;
orphans:2;background-origin:initial;background-clip:initial;word-spacing:0px'><b><font
size=3 color=black face=Arial><span lang=ES-TRAD style='font-size:12.0pt;
font-family:Arial;color:black;font-weight:bold'>Atentamente,</span></font></b><font
color=black face=Calibri><span lang=ES-MX style='font-family:Calibri;
color:black'><o:p></o:p></span></font></p>

<p class=MsoNormal style='line-height:14.4pt;background:white;widows:2;
orphans:2;background-origin:initial;background-clip:initial;word-spacing:0px'><font
size=3 color=black face=Calibri><span lang=ES-MX style='font-size:12.0pt;
font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

<p class=MsoNormal style='background:white;widows:2;orphans:2;background-origin:initial;
background-clip:initial;word-spacing:0px'><st1:PersonName
ProductID="Fernando Chávez," w:st="on"><b><font size=4 color=black face=Arial><span
 lang=ES-MX style='font-size:13.5pt;font-family:Arial;color:black;font-weight:
 bold'>Fernando Chávez,</span></font></b></st1:PersonName><b><font size=4
color=black face=Arial><span lang=ES-MX style='font-size:13.5pt;font-family:
Arial;color:black;font-weight:bold'> Coordinador de El Observatorio Económico
de México.</span></font></b><font color=black face=Calibri><span lang=ES-MX
style='font-family:Calibri;color:black'><o:p></o:p></span></font></p>

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0px'><font size=3 color=black face=Calibri><span lang=ES-MX style='font-size:
12.0pt;font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

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0px'><font size=3 color=black face=Calibri><span lang=ES-MX style='font-size:
12.0pt;font-family:Calibri;color:black'> <o:p></o:p></span></font></p>

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