CONVENTIONS Decree 814/95 Approve the agreement known as the Fifth Refinancing Convention for Hidronor S.A. to be signed with Export Import Bank of Japan.

Bs. As., 14/6/95

VISTO Issue No. 080-004178/95 of the Register of the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES and the agreement on the consolidation of the debt of the ARGENTINA REPUBLIC, reached at the meetings held in the city of Paris, FRANCESE REPUBLICA, on 21 and 22 July 1992 and

CONSIDERING:

That the regularization of the debts owed to the official export credit agencies of the countries signatories to the above-mentioned Paris Agreement agrees with the national interest, since it will facilitate the importation of capital goods by our country, essential for its economic development.

It is necessary to adopt the text of the Convention called the Fifth Refinancing Convention for NORPATAGONICA SOCIEDAD ANONIMA (HIDRONOR S.A.) to be signed between the aforementioned company and the EXPORT IMPORT BANK of JAPAN.

That the committed national interest justifies that the ARGENTINA REPUBLIC guarantees the contract to be signed, which conforms to the usual terms and provisions in the matter.

That the NATIONAL EXECUTIVE POWER is entitled to the dictation of this act pursuant to Article 16 of Law No. 11,672 Permanent Supplementary to Budget (T. 1994), and Articles 99 (1), 100 (1) and the Duodecima Transitional Provision of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 . Approved in all its parts the agreement called the Fifth Refinancing Convention for HIDRONOR S.A. and its annexes, which in authenticated copies in English and their translation into Spanish form an integral part of this Decree as Annex I to be subscribed between HIDRONOR S.A. and the EXPORT IMPORT BANK of JAPANPU together with a group of Japanese banks, with the guarantee of

Art. 2o al Authorize Mr. MINISTER OF ECONOMY AND ARTWORKS AND SERVICES PUBLICS to subscribe, by itself or by the person who designates the agreement, to the guarantee of the agreement in accordance with article 1 of this Decree, on behalf of and representation of the ARGENTINA REPUBLIC.

Art. 3o . Communicate, publish, give to the National Directorate of the Official Register and archvese. . MENEM. Doomingo F. Cavallo.

NOTE: This Decree is published without Annex I. Unpublished documentation can be consulted at the Central Headquarters of this National Directorate (Suipacha 767, Capital Federal).