MINISTERY OF ECONOMY Decree 1378/90 Please refer to the Undersecretariat of Finance to grant financial advances to the Province of Río Negro.

Bs. As., 23/7/90

VISTO, the Convention between the MINISTERY of ECONOMY and the GOVERNMENT OF THE PROVINCIPLES DE RIO NEGRO to give principle of solution to the problem arising from the transactional agreement that said Provincial Jurisdiction subscribed to HIDRONOR HIDROELECTRICA NORPATAGONICA S.A. regarding a credit that said Society claims to have against the NATIONAL TESORO and consequently to grant in favor of the province, and

CONSIDERING:

That by that Convention and until the proceeding of the provision that would exist against the NATIONAL TESORO is defined, it is agreed in principle to grant a financial advance to the aforementioned Provincial Jurisdiction through the delivery of public values of the characteristics defined in Decree No. 593 of 29 March 1990, aimed at regularizing the financial situation through which the BANCO DE LA PROVINCIA DE RIO NEGRO.

That temporary advances of funds on the participation of the Province in the production of co-participable national taxes can be granted, as it allows for the respective local participation provided for such taxes and authorization; conferred by article 15 of Law No. 20,659 regulated by Decree No. 1357 of 3 March 1974 and incorporated into Law No. 11.672 (Permanent Compleary Budget Act) under article 36,95.

That the NATIONAL EXECUTIVE POWER is empowered to issue public debt values through article 33 of Act No. 11.672 (modified by article 34 of Act No. 16.432 and Act No. 16.911) and article 13 of Act No. 23.763, in force in accordance with article 13 of the Public Accounting Act (Decree No. 23,354 of 31 December 1956).

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 . Includes HACIENDA ' s SUBSECRET to grant financial advances to the NEGRO RIO PROVINCIA in the amount of up to AUSTRALES DOS SENTA AND DOS MIL TRESCIENTOS NOVENTA and TRESCIENTS TRESCIENTS NOVENTA and CUATRO MIL CUATROCIENTS SETENTA 26942.

Art. 2o El The advance will be made through the delivery of so-called values BONOS DE INVERSION AND CHILDANCE with the characteristics specified in Decree No. 593 dated 29 March 1990 for the amount specified in the previous article.

Art. 3o To that end, the CENTRAL BANCO of the ARGENTIN REPUBLIC, in its capacity as a financial agent of the NATIONAL GOVERNMENT, will proceed to issue, in addition to the provisions of Decree No. 593 of 29 March 1990, BONOS DE INVERSION AND CRECmiento for the sum of DOSCIENTS SESENTA AND TRESTROCIENTS

Art. 4o . Facultase the SUBSECRETARIA DE HACIENDA to arrange for the cancellation of the agreed advances, which will be effected by the affectation of the respective participation in the Regime of Law No. 23.548 for an amount equivalent to the value of the capital plus the interest earned on the date of such cancellation.

To that end, the GOVERNMENT OF PROVINCIA DE RIO NEGRO shall be available within a period of up to NOVENTA (90) days of the publication of this Decree:

(a) The impact of their participation in the Tax Resource Distribution Regime between the Nation and the Provinces established by Law No. 23.548 or the regime that replaces it with up to the amounts anticipated.

(b) Authorization of the NATIONAL GOVERNMENT to automatically retain the emerging funds of Law No. 23.548 or the regime that replaces it, in order to cancel the funds granted.

Art. 5o La The General CONTADURY of the NATION shall record the present erogation in advance of funds of the General TESORRY of the NATION and shall bear in mind the amount equivalent of the NEGRO RIO PROVINCIA.

Art. 6th . Communicate, publish, give to the National Directorate of the Official Register, and arched. . MENEM. . Antonio E. González.