Banco de Valores S.A., acting as trustee, has issued three different classes of Peso denominated trust securities for a value of $57,932,146.- under Series XXIX Tarjeta Shopping Financial Trust. The trust was created under the bank’s global program for the issuance of trust securities “Tarjeta Shopping”. Tashop S.A. acted as trustor and administrative agent. The deal closed on February 2, 2007.

The principal characteristics of the trust securities are the following:

Trust Securities Class A for the amount of $ 50,400,967.- and a fixed rate.
Trust Securities Class B for the amount of $ 2,317,286.- and a floating rate.

Participation Certificates: for the amount of $5,213,893.

The Participation Certification is a subordinated class, as have the right to receive the residual funds, only once Trust Securities Class A , Trust Securities Class Bare cancelled.

The Trust Securities Class A were placed at a YTM 11.43.%

The Trust Securities Class B were placed at a YTM 14.09%

Underlying asset: The securities were backed by credit card receivables issued by the trustor.

This transaction was authorised for public offering by the Comisión Nacional de Valores (the Argentine Securities Commission - CNV) and for listing on the Buenos Aires Stock Exchange and MAE (the over-the-counter-market).

The series was principally sold to pension funds and other institutional investors.

Standar and Poors rating agency assigned “raAAA” the Class A Trust Securities and “raA –“ the Class B Trust Securities. The Certificates of Participation have not been qualified.

Banco de Valores S.A., Banco de la Ciudad de Buenos Aires, Banco Macro S.A. and Nuevo Banco Industrial de Azul S.A. acted as placement agents. The securities have been deposited at the Argentine clearing agency Caja de Valores SA.

Deloitte & Touche Corporate Finance S.A. acted as controller and financial advisor to the transaction.

Estudio Nicholson & Cano Abogados, through partner Mario Kenny and associate Juan Martín Ferreiro, acted as legal advisor to the Series XXXIX Tarjeta Shopping Financial Trust.