Under 50-years concession, OMA operates and manages 13 international airports in the central and northern regions of Mexico. We serve Monterrey, Mexico's industrial capital;, the tourist destinations of Acapulco, Mazatlan and Zihuatanejo; seven regional cities such as Culiacán, Chihuahua, Tampico, Torreón, San Luis Potosí, Zacatecas y Durango; and two border cities, Ciudad Juárez and Reynosa.. Our airports handle about 14 million terminal passengers per year.

Recently, OMA joined with international hotel operator NH Hoteles from Spain to develop, operate and manage, under a 20-year lease agreement, a 287-room, 5-star hotel and about 5,000 m2 in commercial space inside Terminal 2 of Mexico City International Airport (AICM).
OMA's 960+ employees are dedicated to providing passengers and clients with high quality airport and commercial services that meet international standards for safety and security.

• OMA was incorporated in 1998 as part of the Mexican government's program for the opening of Mexico's airports to private investment, and was granted 50-years concessions to operate 13 airports.
• In 2000, as part of the first stage of OMA's privatization, the Mexican government sold a 15% equity interest to Servicios de Tecnología Aeroportuaria (SETA), which is the strategic partner. SETA is owned by ICA, the largest engineering, construction and procurement company in Mexico, and Aéroports de Paris Management, a leading European airport operator.
• In 2006, OMA carried out an international IPO in which the government sold the balance of its shareholdings to the public.
• In 2009, OMA expanded by opening an NH-branded hotel in Terminal 2 of the Mexico City International Airport, the nation's busiest.

We generate a mix of regulated aeronautical revenues and unregulated non-aeronautical revenues for commercial services.

Most of our revenues are derived from providing aAeronautical services revenues to airlines and passengers. This includes fees charged for each departing passenger, aircraft landing fees, aircraft parking fees, fees for the transfer of passengers from the aircraft to the terminal building, security charges for each departing passenger, and the like. Revenues from aeronautical services are subject to rate regulation.

About 80% of our revenues are generated from aeronautical services.

We also provide nNon-aeronautical revenues are generated services such as theby operatingon of parking facilities, leasing space to restaurants and retailers, and advertising, among other. In SeptemberAugust 2009, together with our partner NH Hoteles from Spain of Spain, we opened a hotel in Terminal 2 of the Mexico City International Airport, providing high quality hotel services to passengers and users. which is expected to provide an important new source of commercial revenues.

Approximately 20% of our revenues come from these non-regulated commercial services.

We have a balanced portfolio in terms of geography, type of passenger, and type of airline customer. During 2008:

• Monterrey airport accounts 46.8% of passenger traffic; tourist destinations account for 18% of passenger traffic; regional cities account 26.7% and border cities account for 8.2% of passenger traffic.
• 83.4% of our passengers are domestic, and the rest are international
• More than 20 airlines serve our airports, including domestic and international carriers.

In a long term return business, our principal goal is having growth and creating value to our shareholders.

Historically, air transport in Mexico has been relatively expensive and used almost exclusively by the more affluent segment of the population. This started to change with the liberalization of the air transport market starting in 2005. Even with the 2008-09 recession, we are confident of the medium term expansion of the market. The year 2009 began with enormous challenges for the air transport industry. OMA undertake strategic initiatives to counteract the effect on company results.

OMA's intent is to capitalize on the expected growth in air travel through:

• Working with airlines to create profitable new routes
• Taking care of main routes
• Turning Monterrey airport into a regional hub
• Increasing traffic at the regional airports through the low cost carriers and regional airline subsidiaries of the major carriers

We also expect to grow revenues through:

• Maintaining aeronautical revenues
• Increasing commercial revenues such as leasing of retail space, parking and advertising, and expanding our cargo operations.
• Opening commercial areas in the Mexico City international Airport Terminal 2
• Developing additional sources of non-aeronautical revenues, through developing our real estate assets and expanding in areas of our core competence

The Mexican Ministry of Communications and Transportation (SCT) is the principal regulator of the airports operation business in Mexico.

OMA's activities are principally regulated by the Airports Law and their regulations and the General Law for National Assets, among other administrative laws.

As part of our concession agreement, we must meet stringent standards of safety and security, as well as service.

Every fifteen years OMA must prepare master development programs (MDP) for each of our airports that detail our expected growth in traffic over the following 15 years and the investments needed to serve this growth. Each five years this master plan is reviewed and modified as needed.

Based on traffic projections, the MDP defined and other financial factors, the SCT sets the maximum rate per workload unit (one terminal passenger or 100kg of cargo) that each airport can charge per year. These rates are set once every five years, but every year it is adjusted for a efficiency factor and for inflation). All the revenues from regulated services must fall within this ceiling, although OMA can set and adjust rates for individual services in accordance with market conditions.

OMA's current MDP is for the period 2006-2010. During 2010, the SCT and OMA will negotiate the investment program and maximum rates for the 2011-2015 period.

OMA Plaza is our retail concept. Our airports have exceptional restaurants, shops, banks, and other stores to offer passengers an enjoyable experience.

OMA Carga is our air freight terminal service. We provide strategically located terminals to companies with air freight needs. Our cargo terminals are located in the airports of Monterrey, Chihuahua, and Ciudad Juárez.

They are the same. Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. is our legal corporate name. OMA is our trade name; our passengers, airlines, and our business partners know us as OMA, which stands for Operadora Mexicana de Aeropuertos.

As of October 31, 2009:

• The public holds approximately 40.2% of OMA's shares.
• OMA holds 1.1% by repurchase program.
• SETA, the strategic partner, holds 16.7%. SETA is owned jointly by Aéroports de Paris Management (25.5%), subsidiary of Aéroports de Paris, one of the Europe's largest airport operators, and Aeroinvest S.A. de C.V. (74.5%), a fully owned subsidiary of Empresas ICA, Mexico's largest engineering and construction company.
• Empresas ICA through Aeroinvest, directly holds an additional 42.0%, bringing its total economic interest in OMA to about 54.4%.

OMA has 400 million share, which 14.7% are Serie BB shares and 85.3% are Serie B shares.

OMA's Serie B shares common shares have been traded on the Mexican Stock Exchange (BMV) since November 2006. Shares in the form of American Depositary Shares (ADSs) are traded on the NASDAQ Global Market from New York; each ADS represents 8 Series B shares.

• The BMV ticker is "OMA"
• The NASDAQ ticker is "OMAB"

In addition, the strategic partner of OMA, SETA owns all OMA's Series BB shares, which are not traded.

Each Series B and Series BB share gives the holder equal dividend rights and the right to one vote in shareholders' meetings. The holders of Series BB shares also have veto rights over certain actions, including the payment of dividends and the nomination or removal of certain members of senior management.

OMA's shares are listed and traded on the NASDAQ Global Market in the form of American Depositary Shares, or ADS's. Each ADS represents 8 Series B shares.

ADS's are quoted and traded in U.S. dollars. Cash dividends declared are paid in U.S. dollars to ADS's holders.

For more information on trading American Depositary Shares, contact the share depositary:

Depositary Bank:
1 Chase Manhattan Plaza, Floor 58
New York, NY 10005
(866) JPM-ADRS (866 576-2377)
adr@jpmorgan.com

Transfer Agent:
J.P. Morgan Service Center:
General: (800) 990-1135
If calling from outside the U.S.: (651) 453-2128
email: jpmorgan.adr@wellsfargo.com

J.P. Morgan Service Center
JPMorgan Chase Bank N.A.
P.O. Box 64504
St. Paul, MN 55164-0854

OMA has adopted strong corporate governance practices that reflect our commitment to the highest standards of corporate ethics, transparency, and compliance with legal requirements.

The board of directors is responsible for management of the business and is the legal representative of the company. The board has 11 members, including 5 independent directors.

There is one Special Committee that assists the board of directors, with responsibilities in the area of audit, corporate practices, and finance and planning. This Committee is made up exclusively by independent board members. The board of directors selects the members of the Special Committee, and the annual shareholders' meeting elects its chairman.
 

Under the policy established in September 2006, OMA's annual cash dividend has a fixed and a variable component. The fixed component is Ps. 325 million per year. The variable component is based on the funds available for distribution in excess of the fixed component, taking into account the next 12 months scheduled investments and the next 6 months' expected operating expenses. Dividends are paid in four quarterly installments (on July 15, October 15, January 15, and April 15) based on the annual dividend declared at the Annual Shareholders' Meeting. The dividend declared for the 2008 fiscal year was Ps. 400 million, or Ps. 1.00 per share.

OMA is a member of the Mexican Stock Exchange's benchmark IPC index of the 35 most active stocks.

E-mail: ir@oma.aero
 

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