Circular Cobros y Pagos Externos COPEX 1 120 and Circular External Operations of the Public Sector SEPEX 1 12 Paris Club

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA COMUNICACIÓN "A" 1001 17/03/87 TO FINANCIAL ENTITIES AUTHORIZED TO OPERATE IN EXCHANGE AND EXCHANGE BROKERS:
Ref.: Circular COBROS Y PAGOS EXTERNOS COPEX - 1 - 120 and Circular OPERACIONES EXTERNAS DEL SECTOR PUBLICO SEPEX - 1 -
12. Paris Club.

We address you and through you to the interested sectors, with reference to the maturities for principal and interest due or to mature in 1986 and 1987 of obligations contracted before 10.12.83 with payment terms greater than one year, in the concept of loans from governments and official agencies of creditor countries subscribing to the Multilateral Agreement and Consolidation of the debt of the Argentine Republic within the framework of the Paris Club financial program, and commercial obligations that have guarantee or insurance granted by said countries or agencies.

In view of the fact that the National Government will request the refinancing of the maturities in an upcoming meeting of the Paris Club, payments abroad of the obligations covered by this regulation are suspended, which include:
a) remaining quotas of obligations due or to mature during the year 1986 and 1987 whose maturities before 31.12.85 have already been restructured or refinanced according to the Paris Club financial program of 1985 (Annexes I and II, which replace the corresponding annexes of Com. “A” 921 of 17.9.86); b) quotas with maturity during 1986 and 1987 and with a grace period until 31.12.85, of obligations contracted before 10.12.83 with said creditors or insurers.

With respect to obligations of the Private Sector without foreign exchange insurance, including those with guarantee from the Secretariat of Treasury or public banks, the regime of Communication “A” 459 remains in force. Consequently, debtors may constitute the deposit in favor of this Bank for the countervalue in australs of the maturities, in all cases, even if they are non-commercial obligations. It will be necessary to present form 4008-C, indicating on the front the legend “Paris Club - Communication “A 1001”. When the regulations governing payments to the various countries are issued, these deposits will be applied under the same conditions stipulated by the Communications issued for maturities occurring until 31.12.85.

• 2 -

Inquiries regarding the inclusion of specific operations within the scope of this regulation may be made by submitting form 4008-A, which will be processed in the manner of practice.

We salute you very attentively. BANCO CENTRAL DE LA REPÚBLICA ARGENTINA Enrique A. Bour Manager of Studies and Statistics of the External Sector Elías Salama General Manager

B.C.R.A.
OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB

• Public Sector -
  Annex I to
  Com. “A” 1001

By creditor country, insurance agency and external debt form SUIZA 003317 003669 013075 004526 (SWISS EXPORT 003326 003675 015386 004526 RISK GUARANTEED) 003453 003676 004535 004148 003677 004537 000059 004159 003678 SUECIA 004557 000156 004171 003579 (EXPORTCREDIT- 004567 000157 004245 003680 NACNNDEN) 004603 000220 004280 003681 004604 000486 004347 003582 001392 004606 000779 004574 003689 001490 004607 000861 004652 003684 001492 004650 001074 004810 003685 003832 004653 001397 004817 003691 004144 004654 001398 012506 003692 004432 004670 001399 012887 003693 004544 004751 001400 019116 003695 004749 004807 001401 003696 011727 004808 001402 003977 019114 004852 001403 FRANCIA 003987 019115 004853 001404 (CO. FA. Ct.) 003983 004857 001405 00411+ 004872 001408 000397 004148 ITALIA 004881 001407 000398 004242 (SEZIONE SPECIALE 004912 001408 000829 004243 PER L’AZZIGNAZIONE 005084 001405 001011 004244 DEL CREDITO ALL) 001410 001060 004312 ESPORTAZIONE) 001411 001073 004453 ESPAÑA 001415 001101 004520 000137 (CIA. ESPAÑOLA 001415 002191 004523 000141 DE CREDITO A 001416 002193 004721 000143 LA EXP.) 001417 002369 004858 000145 001419 002413 004859 000227 001421 002491 004871 000226 000456 001422 002596 004893 001116 001678 001742 003022 004894 002664 003600 001743 003036 004896 002856 003601 001744 003037 005497 003160 003628 001745 003041 009094 003162 003629 002271 003043 009100 003163 003630 003161 003051 009101 003171 003631 003177 003055 009102 003179 003632 003182 003190 009103 003166 003633 003196 003199 010755 003203 003634 003202 003209 010756 003222 003639 003212 003214 011602 003027 003636 003219 003215 011935 004162 003637 003241 003322 011936 004237 003638 003305 003568 011937 004431 003639

• 2 -
  ESPAÑA 005268 ISRAEL 000436 003191 (CIA. ESPAÑOLA 005269 (ISRAEL POREIGH 000457 003204 DE CREDITO A 005270 TRADE RISKS 000458 003208 LA EXP.) 005271 INSURANCE CO.LTD.) 000628 003210 005272 001429 003216 010844 001430 003303 010845 001431 003319 003640 010849 002123 001432 003320 003641 010850 002133 001433 003332 003643 010851 004673 001434 003334 003644 004708 001435 004311 003645 005176 007436 004510 003646 AUSTRIA 001439 004512 003647 (DESTERRICHISCHE 001438 004513 003771 KONTROLLBANK) CANADA 001439 004602 003792 (EXPORT DEVELOPMENT 001440 004612 003785 000222 CORPORATION) 001441 004630 003786 000232 001908 004658 003787 002835 001936 004671 004152 003304 000657 002165 004674 004155 003623 000658 002414 004681 004165 003978 004725 002843 004682 004308 004149 014351 003031 004713 004468 004239 014352 003089 004758 004469 004762 014353 003184 004868 004470 017768 015505 003196 004907 004505 003196 005247 004639 003307 006047 004676 BELGICA HOLANDA 003318 010242 004748 (OFFICE NATIONAL (NEDERLANDSCHE 003321 010243 004809 DU DUCROIRE) CREDIETVER. 003567 010475 004815 NAATSCHAPPIJ) 003576 010476 004904 003577 010477 004906 001117 000431 003595 010478 004909 002397 003038 003625 010479 004919 002398 003052 004558 010480 004921 002399 003057 010481 004926 002847 003662 010482 004930 002877 003671 JAPON 010514 005255 004611 003679 (MITI) 010515 005256 004634 004717 010516 005257 004816 004719 000221 010510 005258 005089 000225 005259 000648 005260 REINO UNIDO 001389 ALEMANIA 005261 FINLANDIA (EXPORT CREDIT 001746 (HERMES) 005262 (VIENTITAKUGLAITOS GUARANTY 002415 005263 EXPORT G. BOARD) DEPART.) 002416 000223 005254 002417 000226 005265 000142 003181 000231 005266 001175 000217 003182 000233 005267 003599 000432 003183 000373

• 3 -
  B.C.R.A.
  OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB

• Public Sector -
  Annex I to
  Com. “A” 1001
  ALEMANIA 004561 000442 001101 (HERMES 004684 000454 001669 004722 001455 001670 000649 004723 001485 003148 000780 004724 001486 003149 001079 004752 002411 004562 001080 004759 002412 004897 001081 004785 202547 001082 004786 002724 001446 004793 003301 ESTADOS UNIDOS 002418 004794 003413 (AGENCIA PARA EL 002419 004795 003414 DESARROLLO 002421 004791 003415 INTERNACIONAL 002422 004796 003462 002423 004801 003544 002424 004802 003819 000352 002634 004803 003828 000353 002976 004804 003820 000354 002885 004805 003830 000355 003153 004806 003831 000356 003154 004913 004103 000357 003155 004933 004212 000358 003156 011746 004929 000362 003158 017074 004931 000363 003167 018549 004992 000364 003172 006825 000365 003173 011957 000366 003174 ALEMANIA 016444 000856 003175 (KREDITANSTALT 016530 000857 003176 FUER WIEDERAUPHAN) 017105 001734 003189 017192 005311 003195 017193 003465 001442 017194 003620 001443 012766 JAPON 003622 001444 017767 (EXPORT IMPORT 004161 001445 017769 BANK) 004303 001447 017896 004313 001448 017897 004357 003291 017898 001489 004496 004495 016099 002916 004497 017075 018100 002921 004498 004238 004499 004240 004503 ESTADOS UNIDOSESTADOS UNIDOS 009111 004517 (EXPORT (FOREIGN CREDIT 004524 IMPORT BANK) INSURANCE AGENCY) 004525 004527 000428 004538 000429 000372

• 3 -
  B.C.R.A.
  OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB

• Public Sector -
  Annex I to
  Com. “A” 1001

By creditor country, insurance agency and external debt form SUIZA 046385 013358 021451 033728 (SWISS EXPORT 047063 013557 021534 033729 RISK GUARANTEED) 047066 013560 022917 033730 200131 013563 023910 034361 277698 013760 024110 034362 004047 332383 013761 025037 034363 004520 013762 027180 034365 004521 014335 028002 034366 004522 FRANCIA 014379 028295 034367 004523 (CO.FA.CE.) 014380 128315 034368 004524 014397 028316 034369 006474 014661 028317 034370 007056 000299 014833 028318 034371 008626 000401 015024 028319 034372 010493 000404 015025 028320 034373 011242 000742 015112 028321 034374 016467 001763 016113 028322 034375 016626 001764 015115 028324 034376 016627 002255 015116 028325 034377 017085 002958 015357 028328 034378 017290 003748 015358 028329 034379 017475 004113 016657 028330 034380 019127 004339 016746 028331 034381 019978 004468 017475 028332 034382 021224 005012 017818 028333 034797 024509 005702 017819 029397 035001 027143 005725 017820 029929 035070 027144 005881 017821 029930 035150 027145 006003 017822 029932 035746 027146 006005 017823 029933 035747 027147 006006 017824 130214 035757 027148 006007 017825 030616 039039 028558 006009 017826 031612 040510 030135 006225 017838 032044 040684 030137 006537 017843 032107 041293 030139 007114 017844 033218 041294 030473 007541 017845 033714 041295 032090 007658 017846 033715 041296 035755 008723 017847 033716 041297 039789 010215 019887 033717 041296 040516 010763 019912 033718 041299 041562 010767 019913 033719 041300 041563 011706 019914 033720 041301 041746 012802 019916 033721 041302 046283 013251 019922 033722 041303 046347 013274 019926 033723 041304 046384 013275 021223 033727 041305

• 2 -
  FRANCIA 041522 0443287 283069 033928 (CO.FA.CE.) 041523 044388 283070 033929 041524 044389 29481 033930 041525 044390 309748 033932 041306 041526 044391 317843 033933 041307 041527 044392 336369 033934 041308 041528 044393 338499 033935 041356 041529 044394 344564 033936 041357 041530 044395 344565 033937 041358 041531 044396 344816 033938 041359 041536 044397 345008 033939 041360 041566 044398 345009 033940 041361 041773 044399 345010 033941 041362 041773 044400 345011 033942 041363 044006 044401 345012 033943 041364 044007 044402 345013 033944 041365 044006 044403 345015 033945 041366 044009 045784 345215 033946 041367 044079 046302 350728 033947 041368 044329 046310 365742 033948 041488 044330 046322 365743 033949 041489 044333 047078 377562 033950 041493 044334 047632 377563 033960 041494 044335 047673 033961 041495 044337 047674 033962 041496 044338 051239 033963 041497 044339 051470 SUECIA 033964 041498 044340 051562 (EXPORTKREDITN- 033965 041499 044343 051634 NAEMNDEN) 034035 041500 044344 051789 039803 041501 044345 052302 047392 041502 044347 052352 010037 050726 041503 044348 206437 012935 050727 041504 044349 206442 015654 050753 041505 044350 206443 015655 050766 041506 044351 206456 015656 050783 041507 044352 210933 015657 041508 044372 217089 022597 041509 044373 220874 027598 ESTADOS UNIDOS 041510 044374 224447 027500 (FOREIGN CREDIT 041511 044375 251472 028282 INSURANCE AGENCY) 041512 044377 252322 030140 041513 044378 252323 033849 000192 041514 044379 252324 033893 000656 041515 044380 253867 033867 001215 041516 044381 253868 033900 001216 041517 044382 253948 033909 002010 041518 004383 257456 033910 002233 041519 044384 257899 033913 004038 041520 044385 259234 033925 004039 041521 044386 266648 033927 004040

B.C.R.A.
OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB

• Private Sector -
  Annex I to
  Com. “A” 1001
  ESTADOS UNIDOS 020627 207371 016603 044367 (FOREIGN CREDIT 020628 268108 016605 044691 INSURANCE AGENCY) 020899 288438 016632 040288 020901 295314 016633 046305 020902 295316 016948 046324 006320 024440 017088 046387 006321 026174 017291 046583 006322 026175 017474 046750 006328 027969 ITALIA 019133 046751 006329 030042 (NAZIONE SPECIALE 019545 046752 006330 030043 PER L’AZZIGNAZIONE 020612 046753 006777 030046 DEL CREDITO ALL 020865 046754 007480 030049 ESPORTAZIONE) 021172 046755 007695 030209 021536 047606 008140 030259 024160 048395 008141 030260 001614 024858 048396 008143 030261 002101 025036 048415 008144 030282 002551 026655 048416 008320 031209 002747 026656 048512 008322 035815 005931 027442 050673 010329 035816 006020 028675 050674 010630 035817 006021 029104 051459 011312 035818 006022 030211 051903 013227 035819 006348 030546 384662 013392 042271 006455 030780 013393 042924 006851 030817 013394 044680 006903 030818 013395 044681 007124 030970 ESPAÑA 014205 044682 007355 032097 (CIA. ESPAÑOLA DE 014292 044683 007510 032098 CREDITO A LA EXP.) 014293 044686 007598 032099 014647 044687 007622 032100 014648 044698 007665 032101 000964 014649 044710 007946 035798 001284 014650 044711 009057 037142 002393 014651 044712 009171 037143 002893 015659 044763 010124 037144 003220 015660 044806 010550 039135 05191 016198 046505 010745 039145 006082 015754 047411 010782 039146 006160 019122 047419 013533 039663 006162 019120 048874 013555 041287 006505 019124 048938 013787 041288 006506 019125 052076 013788 041564 006701 019490 052246 014073 041566 007113 019491 052317 014074 044365 007568 020626 101071 016602 044366 008709

• 4 -
  ESPAÑA 032050 046186 007458 295210 (CIA. ESPAÑOLA DE 032051 046181 007461 295211 CREDITO A LA EXP.) 032052 047451 007462 295212 033269 047458 007841 297073 033270 047461 00964. 298537 009123 033271 047463 010031 298538 010055 033272 047464 010032 298540 010323 033275 047466 010407 298541 010350 033274 047477 010408 398543 011243 033275 047478 010409 298544 011244 033351 047609 017529 011863 034389 048642 017530 011864 034390 049277 017531 011865 034391 050837 017532 BELGICA 011866 034392 052332 017533 (OFFICE NATIONALE 012257 034393 100110 017534 DU DUCROIRE) 012277 034394 223400 018796 012278 034395 255620 018807 005112 012279 034396 255621 019304 009874 012280 034397 351576 028676 012228 012510 034398 384433 028677 012229 013529 034399 394435 029069 012239 013568 034400 029061 027601 013569 034401 029427 028294 013570 034402 035189 032447 013571 034727 DINAMARCA 035190 214960 013868 034949 (EKEPORTKREDITRAD) 035191 319077 014492 034950 035192 014494 035333 035193 014626 035334 008435 035194 015318 035335 012934 035195 FINLANDIA 016107 038544 014920 035196 (VIENTITAKUULAITOS 018255 038545 014921 035197 EXPORT G. BOARD) 019085 038546 031005 035198 019375 039066 031006 035199 005134 019909 039067 031026 035200 034194 019937 039068 051899 035201 019994 039132 216174 035202 021673 040452 410714 035203 022397 040454 035204 ISRAEL 022398 041127 035205 (ISRAEL FOREIGH 024488 041128 AUSTRIA 035206 TRADE RISKS 024561 041573 (GESTERRICHISCHE 035207 INSURANCE CO. LTD.) 026622 041658 KONTROLLBANK) 037150 028027 042257 037151 029574 042264 002590 040507 001069 029575 042266 002591 042262 001751 030030 042268 002592 046351 002241 030349 042269 003304 048562 003246 030526 042270 003874 202730 003637 031028 046102 007457 214528 003859

B.C.R.A.
OPERATIONS INCLUDED IN THE AGREEMENT WITH THE PARIS CLUB

• Private Sector -
  Annex I to
  Com. “A” 1001
  ISRAEL 007016 017295 043286 003264 (ISRAEL FOREIGN 007110 018922 043826 004427 TRADE RISKS 007496 020962 046282 004548 INSURANCE CO. LTD.) 007694 020870 046285 004830 007753 028884 046286 004936 006818 008323 020886 046293 005245 007085 008324 023914 046295 005833 008993 008361 023915 046297 007057 010432 008382 023916 046298 007058 010457 009236 023917 046299 007623 011710 009237 023918 046321 007624 014104 009451 023919 046788 008620 019825 009463 024284 047096 008687 020567 009685 024285 047373 009331 025206 009757 024286 047396 009444 028017 010015 024737 047661 010008 028568 010016 025175 050704 010886 035303 010017 025871 051969 011586 046494 010018 025954 052077 012037 047420 010019 026467 052116 012167 052002 010423 027997 052230 012168 052003 010450 037998 052231 012169 052232 012304 029000 208196 012170 052233 013287 029073 211115 012171 014203 029074 216788 013347 014204 029375 251528 013348 CANADA 014641 032641 254366 013349 (EXPORT DEVELOPMENT 014642 032042 256415 013530 CORPORATION 014643 032168 295312 013532 014644 032169 295313 015127 048881 014645 033671 295315 015128 050745 014899 034839 295318 016158 050746 015041 035208 295319 016816 357740 015042 035497 319006 016817 015481 035869 368764 016925 015649 035972 368772 017189 REINO UNIDO 015650 035973 391713 017190 (EXPORT CREDIT 015651 035974 391719 017464 GUARANTY DEPART.) 015979 035975 017740 015981 037084 017778 000193 015983 037140 ALEMANIA 017779 000678 015985 037717 (HERMES) 017781 001803 015990 037718 017872 003634 015993 037719 000490 017873 004908 016277 037720 001724 017874 006318 016278 037721 002449 017875 006319 014279 040877 003262 017876 006778 016601 042279 003263 019746

• 6 -
  ALEMANIA 033770 047587 (HERMES) 034142 047635 034714 047876 019247 035343 051444 019917 035344 051447 019920 035345 052234 019927 035345 208445 019928 035347 228801 019929 015499 256967 019930 035754 268121 019931 037056 277905 020869 037068 328561 020871 037066 354223 022402 037070 354224 022403 037071 404349 023786 037079 404350 023791 037080 023793 037083 024103 037086 ESTADOS UNIDOS 024104 037087 (EXPORT IMPORT 024105 037088 BANK) 024106 039551 024107 039662 007304 024108 040238 018631 024109 040239 023347 026181 040845 027415 027142 040847 033778 027602 040875 033781 027603 040981 048648 028290 040982 048656 029077 040983 048972 030136 040984 052165 030212 040985 052166 030318 041022 381084 032025 041565 032025 046495 032027 046496 032047 046497 HOLANDA 032048 046498 (NEDERLANDECHE 032049 047056 CREDIETVER 033686 047062 MAATSCHAPPIJ) 033687 047117 033689 047391 216175