Resolution 095/98

BOARD RESOLUTION NO. 095/98 SUBJECT: MANAGEMENT OF THE FINANCIAL SYSTEM - APPROVES MODIFICATION OF ITEM A) OF ARTICLE 1 OF BOARD RESOLUTION NO. 015/96 AND AUTHORIZES THE PRESIDENT TO SIGN AN ADDENDUM TO THE PORTFOLIO PURCHASE CONTRACT WITH REPURCHASE AGREEMENT SIGNED WITH BANCO BOLIVIANO AMERICANO.

VIEWED: The Law 1670 of the Central Bank of Bolivia of October 31, 1995. The Board Resolution No. 015/96 dated January 26, 1996. The Civil Code, articles 641 to 650. The Portfolio Purchase Contract with Repurchase Agreement signed between the Central Bank of Bolivia and Banco Boliviano Americano S.A. on March 1, 1996. The Note from Banco Boliviano Americano S.A. PRES. 081/98 dated September 21, 1998. The Report from the Management of the Financial System No. 135/98 of October 6, 1998. The Report from the Legal Advisory Office ALEG No. 355/98 of October 8, 1998.

CONSIDERING: That clause seventh of the portfolio purchase contract with repurchase agreement signed between the Central Bank of Bolivia and Banco Boliviano Americano S.A. on March 1, 1996, establishes a maximum and non-extendable term of fifteen years for the execution and fulfillment of the repurchase, starting from the date of signing said document.

// 2. B.R. No. 095/98 That the payment of the price established in the portfolio purchase by the CBB was made on March 29, 1996. That Banco Boliviano Americano S.A. has requested the modification of the payment dates of the installments from March 1 to March 29 of each year, because the strengthening plan and its respective disbursements were effectively carried out on March 29, 1996. That according to articles 641 to 650 of the Civil Code, the contract in general is perfected with the delivery of the thing and the payment of the price and that, by equity, the start of the repurchase must take into account the payment date. That the report of the Management of the Financial System considers it reasonable to attend the request of Banco Boliviano Americano S.A. That in the opinion of the Legal Advisory, the Board is empowered to add, clarify and/or modify aspects or clauses of its resolutions or contracts, when the documents have some difference with the equity resulting from the current norms.

THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES: Article 1.- Modify the sixth paragraph of item a) of Article 1 of Board Resolution No. 015/96, in the following terms: SAYS: Term and form of the repurchase: Successive provision in 15 years computable from the signing of the contract, including three years of grace. Starting from the fourth year of validity of the contract, the BBA will cancel to the CBB on the dates listed below the following fixed amounts:

//3. B.R. No. 095/98 On March 1 of the year 2000 US$ 3,000,000.- On March 1 of the year 2001 US$ 3,000,000.- On March 1 of the year 2002 US$ 3,000,000.- On March 1 of the year 2003 US$ 4,500,000.- On March 1 of the year 2004 US$ 4,500,000.- On March 1 of the year 2005 US$ 4,500,000.- On March 1 of the year 2006 US$ 4,800,000.- On March 1 of the year 2007 US$ 5,000,000.- On March 1 of the year 2008 US$ 5,000,000.- On March 1 of the year 2009 US$ 5,000,000.- On March 1 of the year 2010 US$ 5,000,000.- On March 1 of the year 2011 US$ 5,326,304.- TOTAL 52,626,304.-

SHOULD SAY: “Term and form of the repurchase: Successive provision in 15 years computable from the date of payment of the total price agreed for the portfolio purchase, including three years of grace. Starting from the fourth year of validity of the contract, the BBA will cancel to the CBB on the dates listed below the following fixed amounts: On March 29 of the year 2000 US$ 3,000,000.- On March 29 of the year 2001 US$ 3,000,000.- On March 29 of the year 2002 US$ 3,000,000.- On March 29 of the year 2003 US$ 4,500,000.- On March 29 of the year 2004 US$ 4,500,000.- On March 29 of the year 2005 US$ 4,500,000.- On March 29 of the year 2006 US$ 4,800,000.- On March 29 of the year 2007 US$ 5,000,000.- On March 29 of the year 2008 US$ 5,000,000.- On March 29 of the year 2009 US$ 5,000,000.- On March 29 of the year 2010 US$ 5,000,000.- On March 29 of the year 2011 US$ 5,326,304.- TOTAL 52,626,304.-

// 4. B.R. No. 095/98 Article 2.- Authorize the President to sign an addendum to the portfolio purchase contract with repurchase agreement signed between the Central Bank of Bolivia and Banco Boliviano Americano S.A. on March 1, 1996, which incorporates the modifications established in Article 1 of this Resolution. Article 3.- The Presidency and the General Management are in charge of the execution and fulfillment of this Resolution. La Paz, October 13, 1998

---

Juan Antonio Morales A.

---

Armando Pinell S. Jaime Ponce G.

---

Juan Medinaceli V.