Trusts: change of the term to file and publish information throughthe CNV’s web system (Autopista de la Información Financiera)

On October 1, 2005 the Argentine Securities Exchange Commission (“CNV”) issued General Resolution No 484/2005, published in the Official Gazette on December 7, 2005 (the “Resolution 484”), that amends General Resolution No 455/2004 and Section 17 of Chapter XXVI – AUTOPISTA DE LA INFORMACIÓN FINANCIERA – of the CNV Regulations (N.T. 2001) (“Chapter XXVI”), changing the term to file and publish required information referred to issuances by public offering by financial trustees.

Section 3 of the General Resolution No 455/2004 established that, after obtaining the authorization for public offering by the CNV, financial trustees, among others entities, have to file through the AIF, in the CNV’s web site (www.cnv.gov.ar), particular information referred to programs, series and individual financial trusts that have obtained the authorization of the CNV, according to the requirements of the CNV’s web system.

Resolution 484 modifies General Resolution No 455/2004 and Section 17 of Chapter XXVI, establishing that particular information referred to programs, series and financial trusts, required by the CNV’s web system, must be filed and published by financial trustees in the CNV’s web site before the authorization for public offering is granted by the CNV and that prospectus and/or pricing supplements and supplementary notices must be published through the AIF simultaneously with the filing of those documents before the pertinent stock exchange.