PROPERTY PROPERTY PROPERTY PARTICIPATE OF THE EXAGENTS OF FIFTH PETROLIFERAL YEACE Law 25,471

NOTE: This Law was observed by Decree No. 1477/2001 published in the 23-11-2001 edition.

PROMULGADA DE HECHO

INFORMATION

03-10-2002

The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:

PROPERTY PROPERTY PROPERTY IN THE EXAGENTS OF FISCAL PETROLIFER

ARTICLE 1 Please clarify the scope of article 8 (c) of Law 24.145, as follows:

Article 8: c): Class C: actions taken by the company ' s staff, up to ten percent (10%) of the social capital, under the system of ownership of Law 23,696. He will be considered a staff member of the company in a position to access the Participated Property Programme, the one who was working in connection with Y.P.F. S.A., as at 1 January 1991, and who had begun his employment relationship prior to that date.

ARTICLE 2 Economic compensation is recognized by the national government for the former Y.P.F. agents. Society of the State .as framed in article 1 of this Law,, that they could not avail themselves of the Participated Property Program, for reasons beyond their will, or because of the delay in the implementation of it, or that, incorporated, they would have been excluded. Compensation will result in the assessment of the following guidelines:

(a) The amount of actions that each former agent would have received according to the guidelines of article 27 of Law 23,696, based on the data of income and income de if corresponding;, state of household burdens and level of salary to the graduate, category of work and seniority in the company;

(b) The economic difference between the value of books of such actions .el that the former agents should have settled, and the market value, discounted the eventual financial commissions for sale.

ARTICLE 3 Suspense from the sanction of this law, and for the period of one hundred and twenty (120) working days, all judicial cases for claims sustained by the former agents of Y.P.F., aimed at obtaining the recognition of their rights to the class C actions of Y.P.F. S.A., or in its default the payment in cash of the value of such actions. ARTICLE 4 In the period of sixty (60) working days, the Ministry of Economy of the Nation shall notify the former agents of Y.P.F. S.A. that they had been found working in the company on 1 January 1991, the corresponding liquidations, taking into account the guidelines set out in article 2 of the present law. In the case of an ongoing judicial case, the Ministry of Economy must submit the settlement in the respective files. ARTICLE 5° Authorize the Executive Power to issue Bonuses for Consolidation of Debt recognized by this Law, in favor of the former agents of Y.P.F. S.A., with the scope and manner provided for by Law 23.982, and/or to reallocate the budgetary or extrabudgetary items resulting from the implementation of this Law. ARTICLE 6 This law will begin to govern the day of its publication in the Official Gazette. ARTICLE 7 Contact the Executive.

IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE VEINTS OF THE OCTOBER OF THE YEAR DOS MIL UNO.

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PASCUAL RAFAEL. . MARIO A. LOSADA. . Guillermo Aramburu. . Juan C. Oyarzún.