Share and IWF Change for Grupo Financiero Galicia SA-B And Eletrobras-PNB In The S&P Latin America 40 Indices

Standard & Poor’s will make changes in the S&P Latin America 40 Indices effective after the close of trading on Friday September 16, 2005 to correspond with the S&P Global 1200 quarterly rebalancing:

• Grupo Financiero Galicia SA-B (Argentina, Sedol: 2613310) shares will be increased by 149 million. In May 2004, the company issued new, non-voting preference shares as a part of its debt-restructuring plan with creditors. The new shares were recently converted to ordinary class ‘B’ shares. The company’s IWF will also be revised to 0.7892 to reflect the new shareholding structure. Based on pricing from September 12, 2005, the company’s weight in the S&P Latin America 40 Index would have increased to 0.290% from 0.182%.
• Eletrobras-PNB (Brazil, Sedol: 2308445) shares will be increased by 27,246,730,000. In May 2005, shareholders of Eletrobras-PNB, Eletrobras-ON and Eletrobras-PNA (non-constituent) were given the option to subscribe to Eletrobras-PNB shares. The newly subscribed shares were recently distributed to shareholders. The shareholding structure of the company also changed as a result of the subscription. The IWF will be revised to 0.84. Based on pricing from September 12, 2005, the company’s weight in the S&P Latin America 40 Index would have increased to 0.651% from 0.463%.

Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.

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