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Loans to related companies

This includes the loan granted by Mediaset Investment, S.R.L.A. to Mediacinco Cartera, S.L. in 2007, which has a single and fnal maturity date i.e., 30 June 2012.

This loan was granted to fnance the acquisition of a 33% ownership interest in Edam Acquisition Holding I Cooperative U,A, It bears interest at Euribor plus 1%, On 30 June 2009, a portion of the balance payable to Mediaset Investment, S.R.L.A. was converted into a participative loan, The portion converted was EUR 27,5 million, The new loan matures on the same date as the original loan and interest payments were linked to the borrower’s business performance.

On 27 July 2010, a further EUR 12,150 thousand was drawn under the same terms and conditions.

The interest accrued in 2010 on this loan was EUR 497 thousand, In 2009 the interest accrued was EUR 1,284 thousand.

Bank borrowings

This heading includes two bank loans that mature in 2012 and bear interest at Euribor plus a market spread, in keeping with the borrower’s solvency, The credit limits on the non-current borrowings are EUR 118 million for 2010, of which no amounts were drawn down, and EUR 50 million for 2009.

18. Short-term provisions

This detail of “Short-Term Provisions” is as follows:

Balance at 31.12.09

Additions Applications Reversions Transfers

Inclusion in consolidated scope

Balance at 31.12.10

Provisions for sales volume rebates

27,226 38,665 (26,992) - - 18,508 57,407

Provisions for contingences

30,244 16,353 (8,105) (33,363) (5,110) - 19

57,470 55,018 (35,097) (33,363) (5,110) 18,508 57,426

Balance at 31.12.08

Additions Applications Reversions Transfers

Balance at 31.12.09

Provisions for sales volume rebates 38,534 26,894 (38,202) - - 27,226 Provisions for contingences 30,035 6,632 (345) (29,773) 23,695 30,244

68,569 33,526 (38,547) (29,773) 23,695 57,470

Short-term provisions for liabilities were reduced considerably in 2010, due to the following:

On 31 May Telecinco signed an agreement with AIE (Spanish Management Company of Actors, Musicians and Performers) resolving the diferences between them regarding the remuneration of publicly broadcast audiovisual recordings, The of reversals in 2010 mostly related to this agreement.

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Gestevisión Telecinco, S.A. AND SUBSIDIARIES