POSTAL AND TELEGRAPHIC SERVICES Decree 840/97 Adjudgation of all postal, monetary and telegraph services provided by the National Post and Telegraph Company Anonymous Society (ENCOTESA) to the Argentine Mail S. A. (e.f.). Approve the social status of the latter. Defer to ENCOTESA in the process of liquidation. Bs. As. 26/8/97.

VISTO is established by the Nros Acts. 19,550 and 23,696, the provisions of the Nros Decrees. 214/92, 2793/92 and 265/97 and file No. 396/97 of the registration of the SECRETARIAT COMMUNICATIONS OF THE NATIONAL REPRESIDENCE; and

CONSIDERING:

That Decree No. 265 of 24 March 1997 called for National and International Public Litigation in order to grant the granting of all postal, monetary and telegraph services currently provided by the NATIONAL COMPANY OF CORREES AND TELEGRAPHES SOCIEDAD ANONIMA (ENCOTESA), the remaining ones that are obliged or empowered to perform, and all those that are in force with these legal services. Including the obligation to provide the Universal Basic Postal Service of a simple letter of up to VEINTE (20) grams, simple telegram of up to VEINTE (20) words and postal turn of up to UN MIL PESOS ($ 1,000), in all the geographical area that currently covers the same.

That by the same decree the Pledge of Bases and Conditions was approved, which established the procedure to be followed in order to award the aforementioned concession.

All acts established by the procedure provided for in that decree have been fulfilled.

That the applicants prequalified by the Admission and Preadjudication Commission established by Article 5 of Decree No. 265/97 submitted their offers, being that the group made up of the companies COOPERATIVA DE TRABAJO AUTOMOTORS CUY T.A.C. LIMITED, SAMUEL LIBERMAN and ROW GROUP S.A., offered a semi-annual canon of PESOS CUARENTA and OCHO MILLONES MIL ($ 48.500.000); the group COMPAÑIA de INVERSIONS IN TELECOMUNICATIONS S.AMIL. and BANCO DE GALICIA and BUENOS AIRES S.A., with the technical postal assistance of the BRITISH POST OFFICE (Office of Posts of the United Kingdom of Great Britain and Northern Ireland) offered the amount of PESOS CINCUENTAY A SEISCIENTS MIL ($ 51.600,000) semesters, in all cases to pay for a semester.

That by virtue of this, the Commission has been issued pursuant to item 9.8.6 of the Base and Conditions Pledge, pre-adjudicating the concession to the group mentioned lastly for presenting the best offer.

That the pre-adjudicatory society has strictly complied with all the requirements set out in the Bases and Conditions, its clarification and annexes circulars, and has submitted an investment plan appropriate to the expectations set out in the bidding process, as dictated by the Admission and Preadjudication Commission.

The supply and enforcement guarantees provided for in numerals 6.7.1 and 9.9.2 of the Bases and Conditions.

It is therefore appropriate to award the concession of the service, as determined by point 10.1 of the Base and Conditions fold, to the group formed by the companies ITRON S.A., SIDECO AMERICANA S.A. and BANCO DE GALICIA and BUENOS AIRES S.A., with the technical postal assistance of the BRITISH POST OFFICE.

That the pre-adjudication group has constituted the society that will operate under the social reason of CORREO ARGENTINO S.A., as provided for in point 9.11. and concordants of the Base and Conditions fold and its Annex I; therefore it is necessary to adopt the social status construed by that group that will raise the corresponding Admission and Pre-adjudication commission by providing that prior to the relevant publication, the IR.

Having completed its work, the Admission and Preadjudication Commission must ratify the action.

That for having ceased its social object, the NATIONAL EMPRESS OF CORREOS AND TELEGRAPHS ANONIMA SOCIEDAD (ENCOTESA) should be delineated on September 1, 1997, date of delivery of the concession. To that end, society shall retain its legal personality, as provided for in Chapter I, Section XIII, Section 101 and concordant of the Commercial Societies Act No. 19.550.

That such liquidation should be carried out within the scope of the SECRETARIAT OF COMMUNICATIONS OF THE NATION because this is the fork of the whole of the share of the NATIONAL COMPANY OF CORREOS AND TELEGRAPHS S.A. (ENCOTESA) on behalf of the National State, must be appointed to the persons who will have the function of liquidators of that society with the rights, powers and obligations that for such office establishes the Law of Companies n° 19,550, who shall carry out the work of the term of the

In the case of the liquidation of a company of the National State, it is appropriate to provide that the credits and debts whatever their cause or nature, that they maintain with any agency or company that belongs to it exclusively, with the exception of the official banks, shall be cancelled by compensation between the parties. The remaining balances in favour of the NATIONAL COMPANY OF CORREO AND TELEGRAPHS ANONIMA SOCIEDAD (ENCOTESA) will be paid to this by the respective debtors, who shall adopt the relevant budgetary forecasts and charges to that end. The remaining balances in favour of any other agency or company that belongs exclusively to the National State, regardless of its legal nature, with the sole exception of the official banks, shall be forwarded in full.

It has taken the intervention of the Directorate of Legal Affairs of the SECRETARIAT OF COMMUNICATIONS OF THE NATIONAL PRESIDENCE.

That the present measure is determined in accordance with the provisions of the Bases and Conditions Approved by Decree No. 265/97, and in use of the powers assigned by Law No. 23.696, and by article 99, paragraph 1 of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1Approve the social status of CORREO ARGENTINO SOCIEDAD ANONIMA (e.f.) submitted by the pre-adjudictory company, and elevated by the Admission and Pre-adjudication Commission, by ordering its registration in the General INSPECTION OF JUSTICE following its publication in the terms of the provisions of Law No. 19.550, which as annex I is a member of the present. Art. 2o-Adjudicate the granting of all postal, monetary and telegraph services currently provided by the National EMPRESA DE CORREOS y TELEGRAFOS SOCIEDAD ANONIMA (ENCOTESA), the remaining ones that are obligated or empowered to perform and all those that are aligned with these services in the current legal framework, including the obligation to provide the Universal Postal and BANCO DE GALICIA and BUENOS AIRES S.A., in the terms provided for in the Bases and Conditions Approved by Decree No. 265/97, its annexes and circulars issued by the Admission and Preadjudication Commission. Art. 3o-Ratifícase the actions of the Admission and Preadjudication Commission constituted by article 5 of Decree No. 265/97. Art. 4o-Please contact Mr. Secretary of Communications of the NATIONAL PRESIDENCE to sign the respective concession contract. Art. 5o-Determine in the process of liquidation to the NATIONAL EMPRESA OF CORREOS AND TELEGRAPHS SOCIEDAD ANONIMA (ENCOTESA), for having ceased the social object, from the delivery of possession to the concessionaire, as provided for in Chapter I, Section XIII, Article 101 and concordants of the Commercial Societies Act No. 19.550, being that to such legal effect the society. Art. 6o-Please provide that the receivables and debts, whatever their cause or nature, that it maintains with any agency or company that belongs to it exclusively, with the exception of the official banks, shall be cancelled by compensation between the parties. The remaining balances in favour of the NATIONAL COMPANY OF CORREO AND TELEGRAPHS ANONIMA SOCIEDAD (ENCOTESA) will be paid to this by the respective debtors, who shall adopt the relevant budgetary forecasts and charges to that end. The remaining balances in favour of any other agency or company that belongs exclusively to the National State, regardless of its legal nature, with the sole exception of the official banks, shall be forwarded in full. Art. 7o- I quote the Liquidating Commission of the NATIONAL COMPANY OF CORRECT AND TELEGRAPHS S.A. in the area of the SECRETARIAT OF COMMUNICATIONS OF THE PRESIDENCE OF THE NATION, which will be composed of the Doctor Arturo Antonio PURICELLI (DNI. No. 7.819.637); Doctor Alejandro Bernardino CIMA (DAL. No. 12.812.

La GENERAL INSPECTION OF JUSTICE shall immediately register the designation of the designated liquidating body.

Art. 8o-Communicate to the Bicameral Commission on State Reform and Monitoring the Privatizations of the HONORABLE CONGRESS of NATION created by article 14 of Act No. 23,696. Art. 9o-Contact, post, give to the National Directorate of the Official Register and archívese.-MENEM.-Jorge A. Rodríguez.-Roque B. Fernández. NOTE: This Decree is issued without Annex I. Unpublished documentation can be consulted at the Central Headquarters of the Official Gazette (Suipacha 767, Capital Federal). (Note Infoleg: By art. 1 Resolution No. 129/2004 of the Secretariat of Communications B.O. 3/6/2004 declares that the totality of the LICENCIAS FOR THE PRESTATION OF TELECOMMUNICATIONS SERVICES that were transferred to CORREO ARGENTINO S.A. (CUIT 30-69229637-7), under the Agreement approved by the present Decree must be understood to be granted to the NATIONAL STATE ARGENTINO - ADMINISTRATIVE UNITITY OF THE SECRETARIAT OF COMMUNICATIONS (Decree No. 1075/2003) (CUIT 30-70857483-6), all with effect on the day of publication of the Decree No. 1075 of 19 November 2003).