Comunicado N° 8424 Ref.: Información recibida de Euroclear

F-90822.01

Caja de Valores S.A. 25 de Mayo 362 – Ciudad Autónoma de Buenos Aires – Argentina - C1002ABH- Tel. 4317-8900 www.cajval.sba.com.ar

Comunicado N° 8424

Ref.: Información recibida de Euroclear Bank y Clearstream Banking

sobre ciertos Bonos de la Deuda Pública Nacional.

Códigos ISIN: XS0501195480, XS0501194756, XS0501195134,

XS0501195308, XS0501197262, XS0209139244, XS0501195647,

XS0501195720, XS0501195993, XS0501196025, XS0205545840,

XS0205537581, US040114GL81, US040114GM64 y US040114GK09.

Buenos Aires, 03 de Mayo de 2016

Sres. Depositantes:

Tengo el agrado de dirigirme a Uds., a efectos de hacerles llegar la información enviada por las Centrales

Depositarias Internacionales Clearstream Banking y Euroclear Bank a esta Caja de Valores S.A., en relación

a los títulos de la referencia.

Para mayor referencia de los señores Depositantes, adjuntamos al presente comunicado los reportes

recibidos de dichas centrales (Anexos I, II y III).

Sin otro particular los saluda atentamente,

SEVERO I. RIZZO

GERENTE GENERAL

E.S.

ANEXO I*** S893 START OF PROCESSING FOR RF41N ACCOUNT:91827� +--------------------------------------------+ | ACCOUNT: 91827 - USER #: P2023013 | | DACE NOTICES | | DEFINITIVE INFORMATION | | EUROCLEAR DATE & TIME: 03/05/16 12:00 | +--------------------------------------------+

---------------- EVENT NUMBER 6279044 --- CORRECTION ----

EVENT TYPE 399 OTHER NON-ELECTIVE EVENT NOTICE TO HOLDER CompleteMANDATORY/VOLUNTARY INDICATOR: MANDATORY

CORRECTION: UPDATE 03/05/2016: ADDITIONAL PAYMENT DETAILS AVAILABLE

----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY US040114GK09 ARGENTINE REPUBLIC 2.50000 31/12/38 (STRAIGHT) NOMINAL USD 1 MATURITY 31/12/38 QUOTATION PCT 64.085000 ON 29/04/16

MINIMUM FOR EXERCISE: 1 MULTIPLE FOR EXERCISE: 1

---------------- EVENT DETAILS ------------------------------------

INFORMATION ON OTHER NON-ELECTIVE EVENTELECTR.CERTIF:N/ NO CERTIFICATION REQUIRED

UPDATE 03/05/2016: NEW PAYMENT DETAILS HAVE BEEN PROVIDED

AS A RESULT OF THE 22/04/2016 ORDER, THE RECORD DATE FOR PAYMENTSIS 29/04/2016.

IN ACCORDANCE WITH THIS ORDER, THE TRUSTEE HAS BEEN NOTIFIED THATTHE PAYMENT DATE FOR PAYMENTS TO HOLDERS OF RECORD AS OF29/04/2016, WILL BE 05/05/2016.

ATTACHED TO THE DOCUMENTATION IS A SCHEDULE LISTING THE BONDSBEING PAID BY THE REPUBLIC AND THE AMOUNTS BEING PAID PURSUANT TOTHE COURT'S ORDER AND THE NOTIFICATION DELIVERED TO THE TRUSTEE.

PLEASE REFER TO THE DOCUMENTATION FOR MORE DETAILS

FURTHER PAYMENT DETAILS WILL BE ANNOUNCED VIA SEPARARE EVENT

END OF UPDATE--------------------------------------------------UPDATE 26/04/2016: NEW INFORMATION

RECENT DEVELOPMENTS-------------------ON 20/04/2016, THE TRUSTEE ADVISED HOLDERS THAT THE DISTRICTCOURT ISSUED AN ORDER PROVIDING THAT, UPON TWO PRECEDENTCONDITIONS BEING SATISFIED, THE REPUBLIC WOULD BE AUTHORIZED ANDDIRECTED TO PERFORM ALL OF ITS OBLIGATIONS UNDER THE INDENTURE.ON 22/04/2016, THE REPUBLIC CERTIFIED TO THE DISTRICT COURT THATTHE TWO PRECEDENT CONDITIONS HAD BEEN SATISFIED. ALSO ON22/04/2016, THE DISTRICT COURT FOUND THAT THE CONDITIONSPRECEDENT HAD BEEN SATISFIED AND, ACCORDINGLY, THE INJUNCTION WAS

Page 1

ANEXO IVACATED

RECORD DATE/PAYMENT DATE------------------------AS A RESULT OF THE 22/04/2016 ORDER, THE RECORD DATE FOR SUCHPAYMENTS IS 29/04/2016. ALSO, UNDER THE TERMS OF THE DISTRICTCOURT'S ORDERS, THE PAYMENT DATE SHALL BE NO LATER THAN 15 DAYSFOLLOWING 29/04/2016, AS THE REPUBLIC SHALL INSTRUCT THE TRUSTEEWITH NO LESS THAN THREE BUSINESS DAYS WRITTEN NOTICE. PAYMENTSARE TO BE MADE TO HOLDERS AS OF THE RECORD DATE


END OF UPDATE--------------------------------------------------INFORMATION SOURCE: TRUSTEE, BANK OF NEW YORK MELLON, LONDON

ON 19/04/2016, THE DISTRICT COURT ISSUED AN ORDER, PROVIDING THATUPON TWO PRECEDENT CONDITIONS BEING FULFILLED, THE REPUBLIC ISAUTHORIZED AND DIRECTED TO PERFORM ALL OF ITS OBLIGATIONS UNDERTHE INDENTURE. THE REPUBLIC IS ALSO ORDERED TO IDENTIFY ALLSERIES OF EXCHANGE BONDS TO BE PAID BY THE TRUSTEE, LISTING FOREACH SERIES THE INTEREST TO BE PAID AND THE AMOUNT OF INTERESTPER USD 1,000 OR EUR 1,000 (AS APPLICABLE) PRINCIPAL AMOUNT.

THE RECORD DATE FOR SUCH PAYMENTS SHALL BE THE FIFTH BUSINESS DAYAFTER THE COURT DETERMINES THE TWO PRECEDENT CONDITIONS HAVE BEENMET, AND THE PAYMENT DATE SHALL BE NO LATER THAN 15 DAYSFOLLOWING SUCH RECORD DATE, AS THE REPUBLIC SHALL INSTRUCT THETRUSTEE WITH NO LESS THAN THREE BUSINESS DAYS WRITTEN NOTICE.PAYMENTS ARE TO BE MADE TO HOLDERS AS OF THE RECORD DATE.

THE TRUSTEE WILL ISSUE ADDITIONAL NOTICES TO HOLDERS WHENINFORMATION IS KNOWN AS TO THE RECORD DATE, PAYMENT DATE ANDAMOUNTS OF INTEREST BEING PAID BY THE REPUBLIC.


DOCUMENTATION:--------------YOU MAY REQUEST THE CORPORATE ACTION DOCUMENT(S) EITHER VIAE-MAIL OR VIA THE WEBSITE:

A. E-MAIL:SEND AN E-MAIL TO CADOCS(AT)EUROCLEAR.COM. INDICATE IN THESUBJECT OF YOUR E-MAIL THE FOLLOWING REFERENCE 6279044-399

NOTE: IN THE RARE CASE THAT THE SIZE OF THE CA DOCUMENT EXCEEDS10 MB, IT WILL NOT BE POSSIBLE TO SEND IT VIA E-MAILYOU WILL RECEIVE AN E-MAIL INFORMING YOU THAT THE DOCUMENT WILLBE AVAILABLE ONLY VIA THE WEBSITE

B. THE EUROCLEAR WEBSITE (MY.EUROCLEAR.COM):TO ACCESS THE DOCUMENTATION, LOG IN OR GO THROUGH TO MYEUROCLEARAS A GUEST.YOU CAN DOWNLOAD THE DOCUMENT(S) BY ENTERING THE CORPORATE ACTIONNOTIFICATION NUMBER 6279044 IN THE SEARCH BOX ON MY.EUROCLEAR.COMMY APPS CORPORATE ACTIONS

---------------- ACTION TO BE TAKEN -------------------------------

.

FOR DETAILS, CONTACT CORPORATE ACTIONS - DRIT INFO 4245

Page 2

ANEXO I==================END OF NOTICE===================�---------------- EVENT NUMBER 6279096 --- CORRECTION ----



----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY US040114GL81 ARGENTINE REPUBLIC 5.77000 31/12/33 (STRAIGHT) NOMINAL USD 1 MATURITY 31/12/33 QUOTATION PCT 175.605259 ON 26/04/16


---------------- EVENT DETAILS ------------------------------------









RECENT DEVELOPMENTS-------------------ON 20/04/2016, THE TRUSTEE ADVISED HOLDERS THAT THE DISTRICTCOURT ISSUED AN ORDER PROVIDING THAT, UPON TWO PRECEDENTCONDITIONS BEING SATISFIED, THE REPUBLIC WOULD BE AUTHORIZED ANDDIRECTED TO PERFORM ALL OF ITS OBLIGATIONS UNDER THE INDENTURE.ON 22/04/2016, THE REPUBLIC CERTIFIED TO THE DISTRICT COURT THATTHE TWO PRECEDENT CONDITIONS HAD BEEN SATISFIED. ALSO ON22/04/2016, THE DISTRICT COURT FOUND THAT THE CONDITIONSPRECEDENT HAD BEEN SATISFIED AND, ACCORDINGLY, THE INJUNCTION WASVACATED

RECORD DATE/PAYMENT DATE------------------------AS A RESULT OF THE 22/04/2016 ORDER, THE RECORD DATE FOR SUCHPAYMENTS IS 29/04/2016. ALSO, UNDER THE TERMS OF THE DISTRICTCOURT'S ORDERS, THE PAYMENT DATE SHALL BE NO LATER THAN 15 DAYSFOLLOWING 29/04/2016, AS THE REPUBLIC SHALL INSTRUCT THE TRUSTEEWITH NO LESS THAN THREE BUSINESS DAYS WRITTEN NOTICE. PAYMENTS

Page 3

ANEXO IARE TO BE MADE TO HOLDERS AS OF THE RECORD DATE












.


==================END OF NOTICE===================�---------------- EVENT NUMBER 6279097 --- CORRECTION ----


Page 4

ANEXO I


----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY US040114GM64 ARGENTINA/GDP 00/12/35 (WARRANT) NOMINAL USD 1 MATURITY 31/12/35


---------------- EVENT DETAILS ------------------------------------






THE REPUBLIC OF ARGENTINA IS NOT MAKING PAYMENTS ON THEGDP LINKED BONDS.







ON 19/04/2016, THE DISTRICT COURT ISSUED AN ORDER, PROVIDING THATUPON TWO PRECEDENT CONDITIONS BEING FULFILLED, THE REPUBLIC IS

Page 5

ANEXO IAUTHORIZED AND DIRECTED TO PERFORM ALL OF ITS OBLIGATIONS UNDERTHE INDENTURE. THE REPUBLIC IS ALSO ORDERED TO IDENTIFY ALLSERIES OF EXCHANGE BONDS TO BE PAID BY THE TRUSTEE, LISTING FOREACH SERIES THE INTEREST TO BE PAID AND THE AMOUNT OF INTERESTPER USD 1,000 OR EUR 1,000 (AS APPLICABLE) PRINCIPAL AMOUNT.









.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0205537581 ARGENTINE REPUBLIC 2.26000 31/12/38 (STRAIGHT) NOMINAL EUR 1 MATURITY 31/12/38 QUOTATION PCT 61.750000 ON 02/05/16

Page 6

ANEXO I MINIMUM FOR EXERCISE: 1 MULTIPLE FOR EXERCISE: 1

---------------- EVENT DETAILS ------------------------------------














THE RECORD DATE FOR SUCH PAYMENTS SHALL BE THE FIFTH BUSINESS DAYAFTER THE COURT DETERMINES THE TWO PRECEDENT CONDITIONS HAVE BEENMET, AND THE PAYMENT DATE SHALL BE NO LATER THAN 15 DAYSFOLLOWING SUCH RECORD DATE, AS THE REPUBLIC SHALL INSTRUCT THE

Page 7

ANEXO ITRUSTEE WITH NO LESS THAN THREE BUSINESS DAYS WRITTEN NOTICE.PAYMENTS ARE TO BE MADE TO HOLDERS AS OF THE RECORD DATE.








.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0205545840 ARGENTINE REPUBLIC VAR 31/12/33 (STRAIGHT) NOMINAL EUR 1 MATURITY 31/12/33 QUOTATION PCT 144.335122 ON 26/04/16


---------------- EVENT DETAILS ------------------------------------



Page 8

ANEXO I















Page 9

ANEXO IDOCUMENTATION:--------------YOU MAY REQUEST THE CORPORATE ACTION DOCUMENT(S) EITHER VIAE-MAIL OR VIA THE WEBSITE:





.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0209139244 ARGENTINE REPUBLIC 15/12/35 (WARRANT) NOMINAL EUR 1 MATURITY 15/12/35


---------------- EVENT DETAILS ------------------------------------






Page 10

ANEXO I

THE REPUBLIC OF ARGENTINA IS NOT MAKING PAYMENTS ON THEGDP LINKED BONDS













NOTE: IN THE RARE CASE THAT THE SIZE OF THE CA DOCUMENT EXCEEDS

Page 11

ANEXO I10 MB, IT WILL NOT BE POSSIBLE TO SEND IT VIA E-MAILYOU WILL RECEIVE AN E-MAIL INFORMING YOU THAT THE DOCUMENT WILLBE AVAILABLE ONLY VIA THE WEBSITE



.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501194756 ARGENTINE REPUBLIC 8.28000 31/12/33 (STRAIGHT) NOMINAL USD 1 MATURITY 31/12/33 QUOTATION PCT 103.795000 ON 29/04/16


---------------- EVENT DETAILS ------------------------------------









Page 12

ANEXO I












B. THE EUROCLEAR WEBSITE (MY.EUROCLEAR.COM):TO ACCESS THE DOCUMENTATION, LOG IN OR GO THROUGH TO MYEUROCLEARAS A GUEST.YOU CAN DOWNLOAD THE DOCUMENT(S) BY ENTERING THE CORPORATE ACTIONNOTIFICATION NUMBER 6279044 IN THE SEARCH BOX ON MY.EUROCLEAR.COM

Page 13

ANEXO IMY APPS CORPORATE ACTIONS


.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501195134 ARGENTINE REPUBLIC VAR 31/12/33 (STRAIGHT) NOMINAL EUR 1 MATURITY 31/12/33 QUOTATION PCT 161.003700 ON 26/04/16


---------------- EVENT DETAILS ------------------------------------









RECENT DEVELOPMENTS-------------------ON 20/04/2016, THE TRUSTEE ADVISED HOLDERS THAT THE DISTRICTCOURT ISSUED AN ORDER PROVIDING THAT, UPON TWO PRECEDENTCONDITIONS BEING SATISFIED, THE REPUBLIC WOULD BE AUTHORIZED ANDDIRECTED TO PERFORM ALL OF ITS OBLIGATIONS UNDER THE INDENTURE.ON 22/04/2016, THE REPUBLIC CERTIFIED TO THE DISTRICT COURT THATTHE TWO PRECEDENT CONDITIONS HAD BEEN SATISFIED. ALSO ON22/04/2016, THE DISTRICT COURT FOUND THAT THE CONDITIONS

Page 14

ANEXO IPRECEDENT HAD BEEN SATISFIED AND, ACCORDINGLY, THE INJUNCTION WASVACATED













.


Page 15

ANEXO I




----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501195308 ARGENTINE REPUBLIC VAR 31/12/33 (STRAIGHT) NOMINAL EUR 1 MATURITY 31/12/33


---------------- EVENT DETAILS ------------------------------------










RECORD DATE/PAYMENT DATE------------------------AS A RESULT OF THE 22/04/2016 ORDER, THE RECORD DATE FOR SUCHPAYMENTS IS 29/04/2016. ALSO, UNDER THE TERMS OF THE DISTRICTCOURT'S ORDERS, THE PAYMENT DATE SHALL BE NO LATER THAN 15 DAYSFOLLOWING 29/04/2016, AS THE REPUBLIC SHALL INSTRUCT THE TRUSTEEWITH NO LESS THAN THREE BUSINESS DAYS WRITTEN NOTICE. PAYMENTS

Page 16

ANEXO IARE TO BE MADE TO HOLDERS AS OF THE RECORD DATE












.




Page 17

ANEXO I


----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501195480 ARGENTINE REPUBLIC 8.75000 02/06/17 (STRAIGHT) NOMINAL USD 1 MATURITY 02/06/17 QUOTATION PCT 120.500000 ON 26/04/16


---------------- EVENT DETAILS ------------------------------------













ON 19/04/2016, THE DISTRICT COURT ISSUED AN ORDER, PROVIDING THATUPON TWO PRECEDENT CONDITIONS BEING FULFILLED, THE REPUBLIC ISAUTHORIZED AND DIRECTED TO PERFORM ALL OF ITS OBLIGATIONS UNDER

Page 18

ANEXO ITHE INDENTURE. THE REPUBLIC IS ALSO ORDERED TO IDENTIFY ALLSERIES OF EXCHANGE BONDS TO BE PAID BY THE TRUSTEE, LISTING FOREACH SERIES THE INTEREST TO BE PAID AND THE AMOUNT OF INTERESTPER USD 1,000 OR EUR 1,000 (AS APPLICABLE) PRINCIPAL AMOUNT.









.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501195647 THE REPUBLIC OF ARG 31/12/38 (STRAIGHT) NOMINAL USD 1 MATURITY 31/12/38 QUOTATION PCT 63.750000 ON 02/05/16

Page 19

ANEXO I MINIMUM FOR EXERCISE: 1 MULTIPLE FOR EXERCISE: 1

---------------- EVENT DETAILS ------------------------------------














THE RECORD DATE FOR SUCH PAYMENTS SHALL BE THE FIFTH BUSINESS DAYAFTER THE COURT DETERMINES THE TWO PRECEDENT CONDITIONS HAVE BEENMET, AND THE PAYMENT DATE SHALL BE NO LATER THAN 15 DAYSFOLLOWING SUCH RECORD DATE, AS THE REPUBLIC SHALL INSTRUCT THE

Page 20

ANEXO ITRUSTEE WITH NO LESS THAN THREE BUSINESS DAYS WRITTEN NOTICE.PAYMENTS ARE TO BE MADE TO HOLDERS AS OF THE RECORD DATE.








.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501195720 THE REPUBLIC OF ARG 31/12/38 (STRAIGHT) NOMINAL USD 1 MATURITY 31/12/38 QUOTATION PCT 64.125000 ON 02/05/16


---------------- EVENT DETAILS ------------------------------------



Page 21

ANEXO IAS A RESULT OF THE 22/04/2016 ORDER, THE RECORD DATE FOR PAYMENTSIS 29/04/2016.














DOCUMENTATION:

Page 22

ANEXO I--------------YOU MAY REQUEST THE CORPORATE ACTION DOCUMENT(S) EITHER VIAE-MAIL OR VIA THE WEBSITE:





.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501195993 ARGENTINE REPUBLIC 31/12/38 (STRAIGHT) NOMINAL EUR 1 MATURITY 31/12/38 QUOTATION PCT 59.933333 ON 02/05/16


---------------- EVENT DETAILS ------------------------------------






Page 23

ANEXO I














NOTE: IN THE RARE CASE THAT THE SIZE OF THE CA DOCUMENT EXCEEDS10 MB, IT WILL NOT BE POSSIBLE TO SEND IT VIA E-MAIL

Page 24

ANEXO IYOU WILL RECEIVE AN E-MAIL INFORMING YOU THAT THE DOCUMENT WILLBE AVAILABLE ONLY VIA THE WEBSITE



.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501196025 ARGENTINE REPUBLIC 2.26000 31/12/38 (STRAIGHT) NOMINAL EUR 1 MATURITY 31/12/38 QUOTATION PCT 61.250000 ON 02/05/16


---------------- EVENT DETAILS ------------------------------------









Page 25

ANEXO IRECENT DEVELOPMENTS-------------------ON 20/04/2016, THE TRUSTEE ADVISED HOLDERS THAT THE DISTRICTCOURT ISSUED AN ORDER PROVIDING THAT, UPON TWO PRECEDENTCONDITIONS BEING SATISFIED, THE REPUBLIC WOULD BE AUTHORIZED ANDDIRECTED TO PERFORM ALL OF ITS OBLIGATIONS UNDER THE INDENTURE.ON 22/04/2016, THE REPUBLIC CERTIFIED TO THE DISTRICT COURT THATTHE TWO PRECEDENT CONDITIONS HAD BEEN SATISFIED. ALSO ON22/04/2016, THE DISTRICT COURT FOUND THAT THE CONDITIONSPRECEDENT HAD BEEN SATISFIED AND, ACCORDINGLY, THE INJUNCTION WASVACATED












Page 26

ANEXO I


.





----------------MAIN UNDERLYING SECURITY--------------------------- SECURITY XS0501197262 REPUBLIC OF ARGENTINA VAR 15/12/35 (STRAIGHT) NOMINAL USD 1 MATURITY 15/12/35 QUOTATION PCT 10.100000 ON 02/05/16


---------------- EVENT DETAILS ------------------------------------






THE REPUBLIC OF ARGENTINA IS NOT MAKING PAYMENTS ON THEGDP LINKED BONDS



RECENT DEVELOPMENTS-------------------ON 20/04/2016, THE TRUSTEE ADVISED HOLDERS THAT THE DISTRICTCOURT ISSUED AN ORDER PROVIDING THAT, UPON TWO PRECEDENTCONDITIONS BEING SATISFIED, THE REPUBLIC WOULD BE AUTHORIZED ANDDIRECTED TO PERFORM ALL OF ITS OBLIGATIONS UNDER THE INDENTURE.ON 22/04/2016, THE REPUBLIC CERTIFIED TO THE DISTRICT COURT THATTHE TWO PRECEDENT CONDITIONS HAD BEEN SATISFIED. ALSO ON22/04/2016, THE DISTRICT COURT FOUND THAT THE CONDITIONS

Page 27

ANEXO IPRECEDENT HAD BEEN SATISFIED AND, ACCORDINGLY, THE INJUNCTION WASVACATED













.


Page 28

ANEXO I

==================END OF NOTICE===================

*** S867 NORMAL END OF PROCESSING*** S893 START OF PROCESSING FOR RF42N ACCOUNT:91827*** S845 NO DATA RECORDED FOR THIS SELECTION*** S867 NORMAL END OF PROCESSING*** S888 NORMAL END OF MULTIPLE COMMAND PROCESSING

Page 29

ANEXO IIGeneral InformationCorporate Action Reference0000000391467091 - Version 2 of 2Action StatusFYI - UrgentProcessing StatusAmendedSafekeeping Account71269 - CAJA DE VALORES S.A.Event TypeOTHR - Other EventMandatory / VoluntaryMandatoryNotification Timestamp03/05/16 11:37 Underlying Financial InstrumentISIN CodeUS040114GL81Common Code020937173 - SingleDescriptionUSD 8,28 ARGENTINA DISCOUNT 04-2033Place of SafekeepingDTCYUS33XXX - DEPOSITORY TRUST COMPANY, THE NEW YORK,NYTypeBondAttributes

Currency of DenominationUSD Minimum Nominal Quantity

FAMT1 BalancesBalance As Of03/05/16 11:37Settlement Position DetailsAnnouncement Date26/04/16 Narratives

Party Contact NarrativeATTENTION: SECURITIES ADM/CORPORATE ACTIONS/REORG FOR INQUIRIES PLEASE CONTACT YOUR REGULAR CUSTOMER SUPPORT TEAM

Additional TextGENERAL EVENT ++ EVENT DETAILS ++ ++ ADDITIONAL INFORMATION +++++UPDATED DATED03MAY2016+++ . NOTICE OF PAYMENT IS AVAILABLE ON REQUEST BY SENDING AN EMAIL TO CADATABASE.CS(AT)CLEARSTREAM.COM STATING IN THE SUBJECT: PCP ARGENTINA OTHR 03052016 . +++ORIGINAL+++ . PLEASE NOTE THAT A NOTICE TO NOTEHOLDERS REGARDING THE LITIGATION PROCEEDINGS DATED 25APRIL2016 IS AVAILABLE ON REQUEST BY SENDING AN EMAIL TO CADATABASE.CS(AT)CLEARSTREAM.COM STATING IN THE SUBJECT: PCP ARGENTINA OTHR 26042016

Disclaimer. THIS SUMMARY IS JUST FOR YOUR INFORMATION AND DOES NOT SUBSTITUTE FOR THE AMENDMENTS MADE TO THE DOCUMENTATION. THIS NOTIFICATION CAN NOT BE REPRODUCED ORTRANSMITTED IN ANY FORM OR BY ANY MEANS, IF NEITHER YOU NOR THE ADDRESSEE IS ENTITLED TO PARTICIPATE IN THE RELEVANT CORPORATE ACTION. YOU SHALL BEAR SOLE RESPONSIBILITY FOR ANY AND ALL HARMFUL CONSEQUENCES, LOSSES OR DAMAGES, WHICH MAY BE SUFFERED FOR ANY REASON BY YOURSELVES, THE ADDRESSEE, THIRD PARTIES OR

Page 1

ANEXO IICLEARSTREAM BANKING BY REPRODUCING OR TRANSMITTING THE NOTIFICATION. .

General InformationCorporate Action Reference0000000391467407 - Version 2 of 2Action StatusFYI - UrgentProcessing StatusAmendedSafekeeping Account71269 - CAJA DE VALORES S.A.Event TypeOTHR - Other EventMandatory / VoluntaryMandatoryNotification Timestamp03/05/16 11:42 Underlying Financial InstrumentISIN CodeUS040114GM64Common Code020937181 - SingleDescriptionUSD FL.R ARGENTINA, REP.OF GDP 03-2035Place of SafekeepingDTCYUS33XXX - DEPOSITORY TRUST COMPANY, THE NEW YORK,NYTypeBondAttributes


FAMT1 BalancesBalance As Of03/05/16 11:41Settlement Position

General InformationCorporate Action Reference0000000391467408 - Version 2 of 2Action StatusFYI - UrgentProcessing StatusAmendedSafekeeping Account71269 - CAJA DE VALORES S.A.Event TypeOTHR - Other EventMandatory / VoluntaryMandatoryNotification Timestamp03/05/16 11:42Related References0000000384980712 Underlying Financial InstrumentISIN CodeUS040114GK09Common Code020937122 - SingleDescription

Page 2

ANEXO IIUSD 1,33 ARGENTINA PAR BASKET A/B 03-2038Place of SafekeepingDTCYUS33XXX - DEPOSITORY TRUST COMPANY, THE NEW YORK,NYTypeBondAttributes





Disclaimer. THIS SUMMARY IS JUST FOR YOUR INFORMATION AND DOES NOT SUBSTITUTE FOR THE AMENDMENTS MADE TO THE DOCUMENTATION. THIS NOTIFICATION CAN NOT BE REPRODUCED ORTRANSMITTED IN ANY FORM OR BY ANY MEANS, IF NEITHER YOU NOR THE ADDRESSEE IS ENTITLED TO PARTICIPATE IN THE RELEVANT CORPORATE ACTION. YOU SHALL BEAR SOLE RESPONSIBILITY FOR ANY AND ALL HARMFUL CONSEQUENCES, LOSSES OR DAMAGES, WHICH MAY BE SUFFERED FOR ANY REASON BY YOURSELVES, THE ADDRESSEE, THIRD PARTIES OR CLEARSTREAM BANKING BY REPRODUCING OR TRANSMITTING THE NOTIFICATION. .

DetailsAnnouncement Date26/04/16 Narratives



Disclaimer

Page 3

ANEXO II. THIS SUMMARY IS JUST FOR YOUR INFORMATION AND DOES NOT SUBSTITUTE FOR THE AMENDMENTS MADE TO THE DOCUMENTATION. THIS NOTIFICATION CAN NOT BE REPRODUCED ORTRANSMITTED IN ANY FORM OR BY ANY MEANS, IF NEITHER YOU NOR THE ADDRESSEE IS ENTITLED TO PARTICIPATE IN THE RELEVANT CORPORATE ACTION. YOU SHALL BEAR SOLE RESPONSIBILITY FOR ANY AND ALL HARMFUL CONSEQUENCES, LOSSES OR DAMAGES, WHICH MAY BE SUFFERED FOR ANY REASON BY YOURSELVES, THE ADDRESSEE, THIRD PARTIES OR CLEARSTREAM BANKING BY REPRODUCING OR TRANSMITTING THE NOTIFICATION. .

General InformationCorporate Action Reference0000000391467414 - Version 2 of 2Action StatusFYI - UrgentProcessing StatusAmendedSafekeeping Account71269 - CAJA DE VALORES S.A.Event TypeOTHR - Other EventMandatory / VoluntaryMandatoryNotification Timestamp03/05/16 11:42Related References0000000360715912 Underlying Financial InstrumentISIN CodeXS0501195480Common Code050119548 - SingleDescriptionUSD 8,75 ARGENTINA, REP.OF 10-2017Place of SafekeepingIRVTGB2XGPT - ******TypeBondAttributes





Additional TextGENERAL EVENT ++ EVENT DETAILS ++ ++ ADDITIONAL INFORMATION +++++UPDATED DATED03MAY2016+++ . NOTICE OF PAYMENT IS AVAILABLE ON REQUEST BY SENDING AN EMAIL TO CADATABASE.CS(AT)CLEARSTREAM.COM STATING IN THE SUBJECT: PCP ARGENTINA OTHR 03052016 . +++ORIGINAL+++ . PLEASE NOTE THAT A NOTICE TO NOTEHOLDERS REGARDING

Page 4

ANEXO IITHE LITIGATION PROCEEDINGS DATED 25APRIL2016 IS AVAILABLE ON REQUEST BY SENDING AN EMAIL TO CADATABASE.CS(AT)CLEARSTREAM.COM STATING IN THE SUBJECT: PCP ARGENTINA OTHR 26042016






Page 5

ANEXO IIAdditional TextGENERAL EVENT ++ EVENT DETAILS ++ ++ ADDITIONAL INFORMATION +++++UPDATED DATED03MAY2016+++ . NOTICE OF PAYMENT IS AVAILABLE ON REQUEST BY SENDING AN EMAIL TO CADATABASE.CS(AT)CLEARSTREAM.COM STATING IN THE SUBJECT: PCP ARGENTINA OTHR 03052016 . +++ORIGINAL+++ . PLEASE NOTE THAT A NOTICE TO NOTEHOLDERS REGARDING THE LITIGATION PROCEEDINGS DATED 25APRIL2016 IS AVAILABLE ON REQUEST BY SENDING AN EMAIL TO CADATABASE.CS(AT)CLEARSTREAM.COM STATING IN THE SUBJECT: PCP ARGENTINA OTHR 26042016


General InformationCorporate Action Reference0000000391467420 - Version 2 of 2Action StatusFYI - UrgentProcessing StatusAmendedSafekeeping Account71269 - CAJA DE VALORES S.A.Event TypeOTHR - Other EventMandatory / VoluntaryMandatoryNotification Timestamp03/05/16 11:43Related References0000000366678376 Underlying Financial InstrumentISIN CodeXS0501195134Common Code050119513 - SingleDescriptionEUR 7,82 ARGENTINA, REP.OF 10-2033Place of SafekeepingIRVTGB2XGPT - ******TypeBondAttributes

Currency of DenominationEUR Minimum Nominal Quantity

FAMT1 BalancesBalance As Of03/05/16 11:43Settlement PositionDetailsAnnouncement Date26/04/16 Narratives

Party Contact NarrativeATTENTION: SECURITIES ADM/CORPORATE ACTIONS/REORG FOR INQUIRIES PLEASE CONTACT

Page 6

ANEXO IIYOUR REGULAR CUSTOMER SUPPORT TEAM


Disclaimer. THIS SUMMARY IS JUST FOR YOUR INFORMATION AND DOES NOT SUBSTITUTE FOR THE AMENDMENTS MADE TO THE DOCUMENTATION. THIS NOTIFICATION CAN NOT BE REPRODUCED ORTRANSMITTED IN ANY FORM OR BY ANY MEANS, IF NEITHER YOU NOR THE ADDRESSEE IS ENTITLED TO PARTICIPATE IN THE RELEVANT CORPORATE ACTION. YOU SHALL BEAR SOLE RESPONSIBILITY FOR ANY AND ALL HARMFUL CONSEQUENCES, LOSSES OR DAMAGES, WHICH MAY BE SUFFERED FOR ANY REASON BY YOURSELVES, THE ADDRESSEE, THIRD PARTIES OR CLEARSTREAM BANKING BY REPRODUCING OR TRANSMITTING THE NOTIFICATION. ..

General InformationCorporate Action Reference0000000391467423 - Version 2 of 2Action StatusFYI - UrgentProcessing StatusAmendedSafekeeping Account71269 - CAJA DE VALORES S.A.Event TypeOTHR - Other EventMandatory / VoluntaryMandatoryNotification Timestamp03/05/16 11:47 Underlying Financial InstrumentISIN CodeXS0501197262Common Code050119726 - SingleDescriptionUSD FL.R ARGENTINA, REP.OF 10-2035Place of SafekeepingIRVTGB2XGPT - ******TypeBondAttributes



Page 7

ANEXO IIParty Contact NarrativeATTENTION: SECURITIES ADM/CORPORATE ACTIONS/REORG FOR INQUIRIES PLEASE CONTACT YOUR REGULAR CUSTOMER SUPPORT TEAM



General InformationCorporate Action Reference0000000391467424 - Version 2 of 2Action StatusFYI - UrgentProcessing StatusAmendedSafekeeping Account71269 - CAJA DE VALORES S.A.Event TypeOTHR - Other EventMandatory / VoluntaryMandatoryNotification Timestamp03/05/16 11:47 Underlying Financial InstrumentISIN CodeXS0209139244Common Code020913924 - SingleDescriptionEUR FL.R ARGENTINA, REP.OF GDP 04-2035Place of SafekeepingIRVTGB2XGPT - ******TypeBondAttributes




Page 8

ANEXO II







Page 9

ANEXO II DetailsAnnouncement Date26/04/16 Narratives






FAMT1 Balances

Page 10

ANEXO IIBalance As Of03/05/16 11:47Settlement Position DetailsAnnouncement Date26/04/16 Narratives






Page 11

ANEXO II






Page 12

ANEXO II


FAMT1





Page 13

BNY MELLON

May 2, 2016

Notice of Payment to Holders of

The Republic of Argentina Debt Securities Issued in 2005 and 2010

CUSIP Nos.: 040114GL8, 040114GM6, 040114GKO

ISIN Nos.: XS0501195480, XS0501194756, XS0501195050, XS0501195134, XS0501195308, XS0501197262, XS0209139244, XS0501195647, XS0501195720, XS0501195993,

XS0501196025, XS0205545840, XS0205537581

Note: This notice contains important information that is of imerest to the registered and beneficial owners of the subject Notes. Each registered holder of the Notes should fonvard a copy of this Notice immediately to any beneficial owners(s) of the Notes for whom the holder acts as nominee or i11 any other capacity.

The Bank of New York Mellon (the "Trustee") is indenture trustee under the Indenture (the "Indenture"), dated as of June 2, 2005 and supplemented as of April 30, 2010, between The Republic of Argentina (the "Republic") and The Bank of New York (n/k/a The Bank of New York Mellon), pursuant to which the Republic issued certain Debt Securities (the "Exchange Bonds"). The Exchange Bonds were issued in exchange for certain securities previously issued by the Republic. Except as otherwise expressly provided, all terms used in this Notice which are defined in the Indenture have the meanings assigned to them in the Indenture.

Background

The Trustee previously advised Holders that the United States District Court for the Southern District of New York (the "District Court") enjoined the Republic from making payments on the Exchange Bonds unless the Republic made ratable payments to certain holders of non-exchanged securities (the "Injunction"). The Injunction also prohibited certain nonparties, including the Trustee and the clearing corporations, from processing payments of debt service on the Exchange Bonds unless the Republic complied with the Injunction. On June 5, 2015, the District Court entered partial summary judgment against the Republic in thirty-six additional actions, in which it declared that the Republic violated the pari passu clause of the underlying bond agreements with the plaintiffs by making payments on the Exchange Bonds while failing to make payments on the plaintiffs' non-exchanged securities.

Recent Developments

On April 20, 2016, the Trustee advised Holders that the District Court issued an Order providing that, upon two precedent conditions being satisfied, the Republic would be authorized and directed to perform all of its obligations under the Indenture. On April 22, 2016, the Republic certified to the District Court that the two precedent conditions had been satisfied. Also on April 22, 2016, the District Court found that the conditions precedent had been satisfied and, accordingly, the Injunction was vacated.

Payment Details

Under the terms of the District Court's Orders, the Republic is required to identify all series of Exchange Bonds to be paid by the Trustee, listing for each series the interest to be paid and the amount of interest per $1,000 or €1,000 (as applicable) principal amount.

As a result of the April 22, 2016 Order, the record date for such payments is April 29, 2016.

In accordance with this Order, the Trustee has been notified that the payment date for payments to holders of record as of April 29, 2016, will be May 5, 2016.

Attached is a schedule listing the Bonds being paid by the Republic and the amounts being paid pursuant to the Court's Order and the notification delivered to the Trustee.

Please be advised that the Republic is not malting payments on the GDP Linked Bonds.

Pursuant to Section 4.11 of the Indenture, the Holders of a Majority in aggregate principal amount Outstanding of the Debt Securities of any Series shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee by the Indenture with respect to the Debt Securities of such Series. As more fully set forth in Section 5.l(g) of the Indenture, the Trustee has no obligation to expend, advance, or risk its own funds or otherwise incur any liability in the performance of any of its duties or in the exercise of any of its rights or powers if there shall be a reasonable ground for believing that the repayment of such funds or adequate indemnity against such liability is not satisfactorily assured to it. Additionally, as more fully set forth in Section 5.2(v) of the Indenture, the Trustee has no obligation to exercise any of the trusts or powers vested in it by the Indenture at the request, order, or direction of any of the Holders of Debt Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses, and liabilities which might be incurred therein or thereby. Further, as more fully set forth in Section 5.2(xx), the Trustee has no obligation to do anything illegal or which may cause it to risk its own funds or

incur any liability absent adequate assurances of repayment of such funds or adequate indemnity against such risk or liability.

Holders who have questions concerning this Notice may contact the Trustee by e-mail at [email protected].

Holders should not rely on the Trustee as their sole source of infonnation. The Trustee makes no recommendations and gives no investment or legal advice as to the above matters. Holders should consult their own professionals with regard to the Exchange Bonds and the litigation referenced herein. The Trustee reserves all rights, remedies, and immunities under the Indenture, at law, or in equity.

The Bank of New York Mellon, as Indenture Trustee

Note: The CUSIP and ISlN numbers appearing herein have been included solely for the convenience of the holders of the Exchange Bonds. The Bank of New York Mellon assumes no responsibility for the selection or use of such CUSIP and ISIN numbers and makes no representation as to the correctness of the CUSIP and ISIN numbers listed above or printed on the Exchange Bonds.

REPUBLIC OF ARGENTINA

Argentina2005 & 2010 Bonds Payments

InterestPayment First Payment Payment Payment Payment Payment Payment Payment Payment Total Interest Payments

Issue Description ISIN/Cusip #s Dates Missed Amount Date Amount Date Amount Date Amount To Be Paid Per $1,000 or Per €1,000

Republic of Argentina ‐ 8.75% Global bonds due 06/02/2017 XS0501195480 6/2 & 12/2 12/2/2014 $42,253,036.96 6/2/2015 $42,253,036.96 12/2/2015 $42,253,036.96 $126,759,110.88 $131.2500

Discount Bands:

Republic of Argentina ‐ US$ 8.28% Discount Bonds due 2033 XS0501194756 6/30 & 12/31 6/30/2014 $53,646,818.38 12/31/2014 $53,646,818.38 6/30/2015 $53,646,818.38 12/31/2015 $53,646,818.38 $214,587,273.52 $232.1772

Republic of Argentina ‐ US$ 8.28% Discount Bonds due 2033 XS0501195050 6/30 & 12/31 6/30/2014 $328,337.57 12/31/2014 $328,337.57 6/30/2015 $328,337.57 12/31/2015 $328,337.57 $1,313,350.28 $232.1772

Republic of Argentina ‐ EURO 7.82% Discount Bonds due 2033 XS0501195308 6/30 & 12/31 6/30/2014 €183,901.14 12/31/2014 €183,901.14 6/30/2015 €183,901.14 12/31/2015 €183,901.14 €735,604.56 €215.2224

Republic of Argentina ‐ EURO 7.82% Discount Bonds due 2033 XS0501195134 6/30 & 12/31 6/30/2014 €103,879,565.45 12/31/2014 €103,879,565.45 6/30/2015 €103,879,565.45 12/31/2015 €103,879,565.45 €415,518,261.80 €215.2224

Republic of Argentina ‐ EURO 7.82% Discount Bonds due 2033 XS0205545840 6/30 & 12/31 6/30/2014 €121,789,009.07 12/31/2014 €121,789,009.07 6/30/2015 €121,789,009.07 12/31/2015 €121,789,009.07 €487,156,036.28 €215.2224

Republic of Argentina ‐ US$ 8.28% Discount Bonds due 2033 040114GL8 6/30 & 12/31 6/30/2014 $176,947,365.19 12/31/2014 $176,947,365.19 6/30/2015 $176,947,365.19 12/31/2015 $176,947,365.19 $707,789,460.76 $232.1772

PAR Bonds:

Republic of Argentina US$ Par Bonds due 2038 ‐ 2.50% XS0501195720 3/31 & 9/30 9/30/2014 $20,429.49 3/31/2015 $20,429.49 9/30/2015 $20,429.49 3/31/2016 $20,429.49 $81,717.96 $50.0000

Republic of Argentina US$ Par bonds due 2038 ‐ 2.50% XS0501195647 3/31 & 9/30 9/30/2014 $1,191,310.25 3/31/2015 $1,191,310.25 9/30/2015 $1,191,310.25 3/31/2016 $1,191,310.25 $4,765,241.00 $50.0000

Republic of Argentina EURO Par bonds due 2038 ‐ 2.26% XS0501196025 3/31 & 9/30 9/30/2014 €126,369.30 3/31/2015 €126,369.30 9/30/2015 €126,369.30 3/31/2016 €126,369.30 €505,477.20 €45.2000

Republic of Argentina EURO Par bonds due 2038 ‐ 2.26% XS0501195993 3/31 & 9/30 9/30/2014 €16,126,544.21 3/31/2015 €16,126,544.21 9/30/2015 €16,126,544.21 3/31/2016 €16,126,544.21 €64,506,176.84 €45.2000

Republic of Argentina EURO Par bonds due 2038 ‐ 2.26% XS0205537581 3/31 & 9/30 9/30/2014 €56,894,507.50 3/31/2015 €56,894,507.50 9/30/2015 €56,894,507.50 3/31/2016 €56,894,507.50 €227,578,030.00 €45.2000

Republic of Argentina US$ Par bonds due 2038 ‐ 2.50% 040114GK0 3/31 & 9/30 9/30/2014 $66,208,614.94 3/31/2015 $66,208,614.94 9/30/2015 $66,208,614.94 3/31/2016 $66,208,614.94 $264,834,459.76 $50.0000

Documents

Comunicado N° 8424 Ref.: Información recibida de Euroclear