Wells Fargo made a demand upon the Republic for the above-referenced Notes pursuant to Condition 10 of the Notes, declaring such remaining outstanding Notes and accrued interest thereon to be immediately due and payable,

Upon receiving the final results of the debt exchange, Wells Fargo made a demand upon the Republic for the above-referenced Notes pursuant to Condition 10 of the Notes, declaring such remaining outstanding Notes and accrued interest thereon to be immediately due and payable, and demanding payment of all said principal and interest amounts be made prior to December 5, 2005. The Republic has not responded to the demand made nor contacted Wells Fargo in any manner. Condition 12 of the Notes provides that at any time after the Notes become due and payable, the Trustee may, at its discretion and without further notice, institute such proceedings against the Republic as it may think fit to enforce the terms of the Trust Deed, the Notes and the Coupons, but it need not take any such proceedings unless (a) it shall have been so directed by an Extraordinary Resolution or so requested in writing by Noteholders holding at least 25 per cent in nominal amount of the Notes of the relevant Series outstanding, and (b) it shall have been indemnified to its satisfaction. No Noteholder or Couponholder may proceed directly against the Republic unless the Trustee, having become bound so to proceed, fails to do so within the reasonable time and such failure is continuing. Instituting an action against the Republic would be costly and lengthy and with no certainty that the Republic will pay any funds as a result of such action. Accordingly, Wells Fargo, in accordance with Condition 12 of the Notes is only prepared to take such action if it is fully indemnified by the Holders of the Notes directing the Trustee to take such action.

NOTICE TO NOTEHOLDERS
REPUBLIC OF ARGENTINA
US $20,000,000,000 MEDIUM TERM NOTE PROGRAMME
USP0450KAB901
AT0001912331
XS0084071421
XS0089277825
XS0096960751
XS0105224470
XS0105694789
XS0109203298
XS0113833510
XS0124528703
XS0070531420
XS0071898349
XS0076397248
XS0078502399
XS0080809253
XS0081057589
XS0084832483
XS0088590863
XS0064910812
XS0065490988
XS0066125559
XS0070808166
XS0076249308
XS0100354066
US04011NAS71
Wells Fargo Bank, N.A. , (“Wells Fargo”) formerly known as Wells Fargo Bank, Minnesota, N.A., serves as Delegate to the Trustee (pursuant to a Deed of Delegation dated as of July 17, 2002 between Wells Fargo and J.P. Morgan Trustee and Depositary Company Limited, as “Trustee”) under that certain Trust Deed dated July 27, 1993 attached to the Fifteenth Supplemental Trust Deed dated December 20, 2001, in each case entered into between The Republic of Argentina and the Trustee (the “Trust Deed”). All capitalized terms not otherwise defined herein shal