Sovereign Debt

Represented Barclays Capital as dealer manager in connection the issuance by the Bolivarian Republic of Venezuela of US$825,179,000 in aggregate principal of its 7.00% Bonds due 2038 on November 15, 2007, and the Republic’s VEBONO052013 due 2013 and VEBONO052014 due 2014 (2007).

Represented Barclays Capital as dealer manager in connection with the reopening of the Bolivarian Republic of Venezuela’s 7.00% Bonds due 2038 (2007).

Represented ABN AMROCalyon Securities and Deutsche Bank in connection with the offering of US$1.5 billion Bonds due 2016 and US$1.5 billion Bonds due 2020 issued by the Bolivarian Republic of Venezuela (2005).

Represented Deutsche Bank and UBS Securities in connection with the offering of €1 billion 7% Global Bonds due 2015 issued by the Bolivarian Republic of Venezuela (2005).

Represented CSFB International in the exchange of the Bolivarian Republic of Venezuela JPY17.9 billion Floating Rate Notes due 2008 for the JPY17.9 billion Floating Rate Notes due 2011 (2005).

Represented ABN AMRO and Dresdner Bank in connection with the offering of US$ 500 million 9.375% Global Bonds due 2034 issued bythe Bolivarian Republic of Venezuela (2004).

Represented Merrill Lynch and Barclays Capital in connection with the exchange of Brady Bonds for dollar-denominated 8.5% Global Bonds due 2014 to be issued by the Bolivarian Republic of Venezuela, and with the cash offering of such global bonds (2004). This transaction was considered by Latin Finance the deal of the year for liability management.

Represented Dresdner Bank and UBS Securities in connection with the offering of US$1 billion Floating Rate Notes due 2011 issued by the Bolivarian Republic of Venezuela (2004).

Represented J.P. Morgan Securities and Merrill Lynch in connection with the offering of US$3 billion units of investment consisting of Dollar Notes due September 30, 2004 and Venezuelan Notes (Vebonos) due 2008 and 2009 issued by the Bolivarian Republic of Venezuelaand with the repurchase of Venezuelan Notes (DPNs) (2004).

Represented J.P. Morgan Securities in connection with the offering of US$1 billion 9.375% Global Bonds due 2034 issued by the Bolivarian Republic of Venezuela (2004).

Represented CSFB International and Deutsche Bank in connection with the offering of US$1 billion 7% Notes due 2018 issued by the Bolivarian Republic of Venezuela (2003).

Represented ABN AMRO in connection with the offering of US$470 million 10.75% Notes due 2013 issued by the Bolivarian Republic of Venezuela (2003).

Represented ABN AMRO and Citigroup Global Markets Inc in connection with the offering of US$700 million 10.75% Notes due 2013 issued by the Bolivarian Republic of Venezuela (2003).

Represented CSFB International as financial advisor in connection with an exchange agreement between the Bolivarian Republic of Venezuela and Banco de Desarrollo Económico y Social (BANDES) for the exchange of the Republic’s €180 million Notes due 2008, €94.3 million Notes due 2011; and US$252.8 million Notes due 2018 (2003).

Represented CSFB International in connection with the offering of US$1.5 billion 5.375% Notes due 2010 and the repurchase of US$3.8 billion Brady Bonds issued by the Bolivarian Republic of Venezuela(2003).

Represented CSFB International in the offering of US$300 million 13.625% Notes due 2018 issued by the Bolivarian Republic of Venezuela (2001).

Represented CSFB International in a US$248 million bridge financing to the Bolivarian Republic of Venezuela (2001).

Represented CSFB International in the placement of the JPY17.9 million Floating Rate Notes due 2008 issued by the Bolivarian Republic of Venezuela (2001).

Represented Corporación Andina de Fomento (CAF) in the US$100 million A/B loan to The Bolivarian Republic of Venezuela to finance a project of EDELCA (2001).

Represented the underwriters in the placement of the US$450 million Global Medium Term Notes issued by the Republic of Venezuela(1993).

Represented the underwriters in the placement of the US$300 million Treasury Notes issued by The Republic of Venezuela (1993).

Represented the underwriters in the placement of the US$150 million Treasury Notes issued by The Republic of Venezuela (1993).

Represented the underwriters in the placement of the US$150 million Bearer Bonds issued by The Republic of Venezuela (1993).