S $2.300.00 $800.00 5-8 WEEKS 9.10 WEEKS Notes Material pamt grade sold maple paint grade solid maple paint grade solid maple EFTA00731672 ARGENT e CUSTOM FURNITURE Argent Custom Furniture REVISED LSJ Kitchen Quotation 101 To: Jorge Porta Date: 10.7.10 Zeff Design Vendor Name: Argent Cu

Paul You bought EUR 1,000,000 ARGENT 5''A 01/15/28 Corp (X51715303779) at Clean Price 100.85%: Dirty Price 102.173288% You enter into a EURUSD Cross Currency Swap Initial Exchange Cl

igure 1: Real exchange path implied by market curves and a trend inflation of 5% 130 120 110 100 90 so 70 imps] foal achinga fan pod, - by ARGENT/SOWS Curve offolmolod by 607ES.CER woo - Wel of PEER 2017 2019 2021 2023 2025 Scurf Drab dont When we assume that inflation follows the imp

erparts due to real investors increasing their overweight on the latter. Interestingly, BONAR 25s and 27s are actually trading inside corresponding ARGENT bonds. The value on the SONAR curve clearly concentrate at the front end (up to the 22s), but liquidity could be an issue. Going provincial Amon

Barrett CC: Martin Zeman Subject: Paul RE: Argentina Long Dated Bonds EUR XCCY ; Davide-A Sferrazza Stewart Oldfield You bought EUR 1,000,000 ARGENT 3 % 01/15/23 Corp (X51715303779) at Clean Price 100.85%: Dirty Price 102.173288% You enter into a EURUSD Cross Currency Swap Initial Exchange Cli

with research and trading, let's discuss the below. Thanks Bond ISIN CCY Size(bio) Maturity Type ARGENT 5 % US040114HQ69 USD 01/11/28 Corp ARGENT 5 'A X51715303779 EUR 01/15/28 Corp ARGENT 7.82 X50205545840 12/31/33 Corp 4.20 1.00 1I-Jan- 28 15-Jan- 28 ('lean Bond Price Con pun

55,154 0% O'CONN FAMILY 0% 44,200,444 0% 58,113 0% UNITY 0% 43,493,491 0% (14,466) 0% GRASSIE FAMILY 0% 43,465,142 0% 111,496 0% ARGENT LOANS 0% 43,425,024 0% 52,720 0% LOCKHART JM 0% 43,205.628 0% 14.184 0% ASIEL/LEHMAN 0% 43,180,192 0% 84,033 0% LYNCH BILL 0% 43,

cluded Not Included Not Included Mamma: pant grade seed maple paint grade solid maple paint grade solid maple EFTA02418699 l9L4841.0—L8—Vid3 ARGENT CUSTOM FURNITURE Argent Custom Furniture REVISED LSJ Kitchen Quotation 101 To: Jorge Porta Date: 10.7.10 Zeff Design Vendor Name: Argent Cust