MINISTERY OF ECONOMY AND PUBLISH SERVICES Decree 1.499/96 Authorize the State Department to make irrevocable contributions of capital at the Bank for Investment and Foreign Trade S.A.

Bs. As., 18/12/96

VISTO Issue No. E. 080-005081/96 of the Register of the MINISTERY of ECONOMY AND PUBLIC SERVICES AND

CONSIDERING:

That in order to fulfill the objective of economic policy to stimulate exports and investment as a means to obtain the sustained growth of the national economy in the context of achieved stability, Decree No. 2703 of 20 December 1991 entrusted the MINISTERY of ECONOMY and ARTWORKS and PUBLIC SERVICES, the BANCO of the ARGENTINA NACIONAL TRADE and the BANCO by Public Scripture to the General SCRIBANIA OF GOVERNMENT OF NATION dated 13 January 1992.

That by Resolution of the MINISTERY OF ECONOMY AND PUBLIC SERVICES No. 1016 of 14 September 1993: (i) SECRETARIAT OF HACIENDA was instructed under the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES to proceed to transfer in administration to the BANCO OF INVERSION AND EXTERIOR TRADE S.A. the assets, net of forecasts and at the rates of 30 September 1992, included in Annex I thereof; (ii) the BANCO OF INVERSION AND EXTERIOR TRADE S.A. was authorized to act, acting on account and order of the SECRETARIAT OF HACIENDA under the MINISTERY OF ECONOMY AND ARTH AND SERVICES PUBLICS, to carry out the negotiations for the complete or partial recovery of the acquisitions transferred in administration; and (iii) the text of the convention included in its Annex II was approved and the SUBSECRETARIA DE NORMALIZATION PATRIMONIAL was authorized at that time under the SECRETARIAT OF HACIENDA and currently under the Ministry of Commerce

That by Resolution of the MINISTERY OF ECONOMY AND PUBLIC SERVICES No. 137 of 26 January 1994 provided for the modification of the agreement adopted by the aforementioned Resolution No. 1016 of 14 September 1993 to establish the criteria for the administration of assets transferred to the BANCO OF INVERSION AND EXTERIOR TRADE S.A. by the SECRETARIAT OF HACIENDA under the MINISTERIO DE ECONOMIA YRAS AND PUBLIC SERVICES.

That by Resolution of the MINISTERY OF ECONOMY AND PUBLIC SERVICES No. 557 of 26 April 1994: (i) the provisions of articles 2 and 3 of Resolution No. 1016 of 14 September 1993 were discontinued; and (ii) the text of the convention included in its Annex I was approved authorizing the SECRETARIAT of HACIENDA under the MINISTERY of ECONOMY and ARTH and PUBLIC SERVICES to sign it with the BANCO DE

That by the agreement quoted in the previous consideration: (i) the SECRETARIAT OF HACIENDA dependent on the MINISTERY OF ECONOMY AND ARTWS AND SERVICES PUBLICOS transferred in fiduciary property to INVERSION BANCO and EXTERIOR TRADE S.A. assets included in Annex I to Resolution No. 1016 of 14 September 1993; and (ii) with funds to be perceived by the BANCO OF INVERSION AND EXTERIOR TRADE S.A. Under the aforementioned agreement, private sector financing programmes would be implemented.

That, although the purpose indicated in BANCO DE INVERSON AND EXTERIOR TRADE S.A. is being fulfilled, the amount of the credits that the Bank can agree with the rules of the BANCO CENTRAL OF THE ARGENTINA REPUBLIC and its possibilities of placing debt instruments is conditioned.

That, from the above, to make the BANCO OF INVERSION AND EXTERIOR TRADE S.A. an effective instrument for the expansion of foreign trade and the encouragement of investments in dynamic sectors of the national economy, it is necessary to increase the capital of the same.

That for this purpose is to: (i) authorize the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES, through the SECRETARIAT OF HACIENDA, to make in the BANCO OF INVERSION and EXTERIOR TRADE S.A. irrevocable contributions of capital for the amount of the credits derived from the agreement of trust of 6 May 1994 (providence)

That this Decree is issued in exercise of the powers provided for in Article 99, paragraph 1 of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 . Authorize the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES, through the SECRETARIAT OF HACIENDA, to make in the BANCO OF INVERSION and EXTERIOR TRADE S.A., in the concept of irrevocable capital contributions, the amounts received and those to be received by the BANCO DE INVERSION PUBLICS shall grant the corresponding administrative acts.

Art. 2o Without prejudice to the provisions of the preceding article, the SECRETARIAT OF HACIENDA dependent on the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES and the BANCO OF INVERSION AND EXTERIOR TRADE S.A. will agree on the date on which the same amounts accrue that, at each time, will be capitalized on the BANCO OF INVER

Art. 3o . Facúltase al BANCO DE INVERSION AND TRADE EXTERIOR S.A. and the public sector agencies that are shareholders of that institution to the date of the present, to perform as many corporate acts are necessary to allow the capital contributions provided for in this Decree.

Art. 4o . Facultase the MINISTERY OF ECONOMY AND PUBLIC ARTWS AND SERVICES to dictate the complementary norms that are necessary and convenient for the implementation and implementation of the provisions of this Decree.

Art. 5o . Communicate, publish, give to the National Directorate of the Official Register and archvese. . MENEM. . Jorge A. Rodriguez. . Roque B. Fernández.