The table below presents, in accordance with the Company´s Financial Statements, prepared according to the IFRS definitions, Hotéis Othon S.A.´s Capitalization:
| R$ Million | As of June 30, 2012 |
|---|---|
| Total Capitalization (1) | 440,2 |
| Total Indebtness | 13,2 |
| Short-term debt | 11,2 |
| Long-term debt | 2,1 |
| Tax liabilities | 279,1 |
| Short-term | 7,3 |
| Long-term | 2571,8 |
| Total Shareholders Equity / (Liabilities Short Position) | (147,9) |
(1) Total Capitalization represents Total debt (short and long term debt) + Tax Liabilities and Shareholders´ Equity.