POSTAL AND TELEGRAPHIC SERVICES

Decree 819/97

Refer to the representative of the National Executive in the subscription of 1 Social Statute for the Class A actions corresponding to the Participated Property Programme, as well as the Director and Syndicate, holders and alternates, corresponding to the workers of the National Post and Teleographic Company S.A. (ENCOTESA).

Bs. As., 25/8/97

B.O. 28/8/97

VISTO Decree 265/97, and

CONSIDERING:

That in accordance with the provisions of paragraph 9.11 of the Bases and Conditions for National and International Public Litigation for the granting of all postal, monetary and telegraph services provided by the NATIONAL COMPANY OF CORRETS and TELEGRAPHS S.A. (ENCOTESA) of the Technical Agreement, the Commission of Admission and Prequalification has appointed the date of the aforementioned Decree

In order to complete with the timetable established in the text, the NATIONAL EXECUTIVE PODER must designate the official representing him in the subscription of the Social Statute for the Class A actions corresponding to the Participated Property Program, as well as the Director and Syndicate, holders and alternates, corresponding to the workers of the NATIONAL EMPRESA of CORREOS and TELEGRAPHS, both program.

That the present is given in the use of the powers conferred by Law 23.696 and Article 99(1) of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 Please advise the representative of the NATIONAL EXECUTIVE PODER for the purpose of formalizing the act of subscription of the Statute of the Concessionary Society that will be responsible for the postal, monetary and telegraph services that today is provided by the NATIONAL COMPANY OF CORREES AND TELEGRAPHS S.A. (ENCOTESA), the remaining ones that are obliged or empowered to carry out the legal framework, 16

Art. 2o- Mr. Gandi HEZZE (DNI 4.274.223), and Director Suplente al señor Mahamad Rodolfo CHAIN (DNI 7.065.831), both representing the fourteen percent (14 %) of the Class A shares of the share capital to subscribe to the concessionaire company until the Participated Property Programme is implemented in the terms of the 23.696.

Art. 3o- Indicate Title to Doctor José Manuel ANCIOLA (DNI 6.604.007), and Syndicate Supplement to Elias SALOMON National Public Accountant (DNI 10.787.568), both representing the same percentage, class of shares and share capital mentioned in the preceding article.

Art. 4o-Contact, post, give to the National Directorate of the Official Register and archvese.-MENEM.-Carlos V. Corach.