I get to know that the Federal Senate has approved, and I, Ramez Tebet, President, in the terms of art. 48, inciso XXVIII, of the Rules of Procedure, promulgated as follows

RESOLUTION NO. 46, OF 2002

Authorizes the Federative Republic of Brazil to hire external credit operations at the total value of EUR 4,833,247.80 (four million, eight hundred and thirty-three thousand, two hundred and forty-seven euros and eighty cents), with the BNP Paribas Bank.

THE FEDERAL SENATE RESOLVES:

Art. 1º It is authorized for the Federative Republic of Brazil to hire external credit operations worth EUR 4,833,247.80 (four million, eight hundred and thirty-three thousand, two hundred and forty-seven euros and eighty cents), with the BNP Paribas Bank.

Art. 1º It is authorized the Federative Republic of Brazil to hire external credit operation at the total value of Eur 5,332,401.47 (five million, three hundred and thirty-two thousand, four hundred and one euros and forty-seven cents), with the BNP Paribas Bank. (Redaction given by Resolution # 50, of 2002)

Single paragraph. The proceeds from these credit operations are intended for the financing of goods provided by Hôpital Action Services (HAS), within the Program of Modernization and Consolidation of the Academic Infrastructure of Higher Education Institutions and Hospitals University, as well as funding 100% (one hundred percent) of credit insurance.

Art. 2º The basic financial conditions of credit operations are as follows:

I-debtor: Federative Republic of Brazil / Ministry of Education;

II-creditor: Bank BNP Paribas;

III-total value: EUR 4,833,247.80 (four million, eight hundred and thirty-three thousand, two hundred and forty-seven euros and eighty cents), in the terms of the following detailed operations:

III-total value: Eur 5,332,401.47 (five million, three hundred and two thousand, four hundred and one euros and forty-seven cents), being Eur 4,607,414.30 (four million, six hundred and seven thousand, four hundred and fourteen euros and thirty cents) referring to 100% (one hundred percent) of credit insurance in the value of Eur 499,153.67 (four hundred and ninety nine, one hundred and fifty-three euros and sixty cents) and at 85% (eighty and five percent) of the goods in the value of Eur 4,108,260.63 (four million, one hundred and eight thousand two hundred and sixty euros and sixty-three cents) concerning 15% (fifteen percent) of the goods, pursuant to the following detailed operations: (Redaction given by Resolution No. 50, 2002)

a) commercial contract {85% (eighty-five percent)}:

1) value of the financial operation: EUR 4,108,247.80 (four million, one hundred and eight thousand, two hundred and forty-seven euros and eighty cents);

1) value of the financial operation: Eur 4,108,260.63 (four million, one hundred and eight thousand, two hundred and sixty euros and sixty-three cents); (Redaction given by Resolution No. 50, 2002)

2) objective: funding of 85% (eighty and five percent) of the goods and services to be purchased from Hôpital Action Services (HAS);

3) credit insurance: defined by Coface, estimated at EUR 399,323.00 (three hundred and ninety-nine thousand, three hundred and twenty-three euros);

3) credit insurance: Eur 499,153.67 (four hundred and ninety-nine thousand, one hundred and fifty three euros and sixty-seven cents) to be paid to the Coface; (Redação given by Resolution # 50, of 2002)

4) disbursement: up to 360 (three hundred and sixty) days after the commercial contract enters into effectivity;

5) amortization: 20 (twenty) semi-annual, equal and consecutive installments, the first installment being due after 6 (six) months after decorating 9 (nine) months after the commercial contract came into effect;

6) interest: Euribor {interest rate for Euro at 6 (six) months}, increased from 0.60% a.a. (sixty hundres per cent per year);

7) commission of commitment: 0.50% a.a. (fifty hundredths per cent per year) on the undisbursed balance of the financing, to be counted from the fulfilment of the preconditions to the first disbursement, or 3 (three) months from the date of signing of the Contract;

8) administration fee: 0.30% (thirty hundred percent) flat, calculated on the total loan value, due 30 (thirty) days after the signing of the Financial Contract;

9) lives: 1% (one percent) on the rate operational;

10) general expenses: up to 0.1% (one tenth per cent) of the value of the financing, against the presentation of invoices, after the ROF approval;

b) supplementary credit-funding of the sign {15% (fifteen percent)}:

1) value of financial operation: EUR 724,987.63 (seven hundred and twenty-four thousand, nine hundred and eighty-seven euros and sixty-three cents);

1) value of the financial operation: Eur 724,987.17 (setecents and twenty-four thousand, nine hundred and eighty-seven euros and seventeen cents); (Redação given by Resolution # 50, 2002)

2) objectives: financing of 15% (fifteen percent) of the goods and services to be acquired from Hôpital Action Services (HAS);

3) disbursement: at up to 360 (three hundred and sixty) days after the signing of the Contract;

4) amortization: in 13 (thirteen) equal plots, the first instalment due after 12 (twelve) months of the Contract's signature;

5) interest: Euribor {interest rate for Euro at 6 (six) months}, increased from 4% a.a. (four percent a year);

6) Commitment commission: 0.50% a.a. (fifty hundredths per cent per year) on the undisbursed balance of the financing, to be counted from the fulfilment of the preconditions to the first disbursement, or 3 (three) months from the date of signing of the Contract;

7) administration fee: 0.45% (forty five hundthths per cent) flat, calculated on the total loan value, due 30 (thirty) days after the signing of the Financial Contract;

8) mora: 1% (one percent) on the operating fee;

9) general expenses: up to 0.1% (one tenth per cent) of the value of the financing, against the presentation of invoices, after the ROF approval.

Single paragraph. The payment dates of the principal and the financial charges may be changed depending on the date of signing of the Agreement.

Art. 3º The authorization granted by this Resolution is to be exercised within 540 (five hundred and forty) days, counted from the date of its publication. (Vide Resolution # 50, from 2002)

Art. 4º This Resolution takes effect on the date of its publication.

Federal Senate, on July 3, 2002

SENATOR RAMEZ TEBET

President of the Federal Senate