International Factors

Mexican economic, political and social conditions may change and adversely affect Rio Vista’s operations.  Assuming that the TLP Transaction is not consummated, Rio Vista may not be able to continue operations in Mexico if Mexico restricts the existing ownership structure of its Mexican operations, requiring Rio Vista to increase its reliance on Mexican nationals to conduct its business.  The LPG market in Mexico has yet to be deregulated.   Upon deregulation Rio Vista will still be dependent on TransMontaigne because Rio Vista can only transport LPG on behalf of TransMontaigne using the Retained Assets.  Rio Vista cannot predict the effect of deregulation on Rio Vista.    Rio Vista’s contracts and Mexican business operations are subject to volatility in currency exchange rates which could negatively impact its earnings.

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