Venezuela issues US$700 million in 10.75% Notes due 2013

The Notes were issued under Regulation S and Rule 144-A of the Securities Act and are listed on the Luxembourg Stock Exchange.

ABN AMRO Incorporated and Citigroup Global Markets, Inc. (formerly Salomon Smith Barney) acted as underwriters in the offering. The issue of the first by Venezuela that has CACs or collective action clauses.

Sullivan & Cromwell acted as NY counsel to the underwriters Partner Robert H Craft, associates F. Dan Almaguer, Rob Chandler and John Messina worked the transaction.

Arnold & Porter, acted as U.S. counsel to the Republic, Partners Mark Stumpf and Neil Goodman and associates Arturo Caraballo, Karen O?Brien and Carl Hurwitz, worked on the transaction.

D?Empaire, Reyna Bermúdez Abogados acted as Venezuelan counsel to the underwriters. Partners Gustavo Reyna and Carlos Omaña as well as Alberto Benshimol worked on the transaction.

Johnson, Cato & Asociados acted as Venezuelan counsel to the Republic under partners Carlos Cato and John Jonson.