The Republic of Peru announced an offering of up to US$500 million in Global Bonds due 2033

The coupon rate was set at 8.75% to be paid semi-annually in arrears, beginning on May 21st, 2004, and thereafter on November 21st and May 21st of every year.

J.P. Morgan Securities, Inc. acted as underwriter and representative for the underwriters in this transaction.

Sullivan & Cromwell and Estudio Rubio, Leguía, Normand & Asociados acted as counsel to the underwriters.

Cleary, Gottlieb, Steen & Hamilton and Estudio Echecopar acted as counsel to the Republic of Peru.

Estudio Rubio, Leguía, Normand & Asociados advised the underwriters through partners Fernando Zuzunaga and Juan García Montúfar.

Sullivan & Cromwell represented the underwriters through Carlos J. Spinelli-Noseda, Diego E. Parise, Niko Veilleux, Roberto Arguelles, Jeffrey D. Hochberg, and Silvia K. He.

Cleary, Gottlieb, Steen & Hamilton advised the Republic of Peru in US law through Carmen Corrales, Patrick J. Barrett, Lizbeth Flores, Francisco Paniagua, Douglas Borisky, and Maureen Smith.

Estudio Echecopar advised the Republic of Peru in Peruvian law through Ismael Noya, Marco Alarcón and Yasmin Farah.