UGUAYAN SECURITIES MARKET LAW, ACT. 18.627 OR RECORDED IN THE URUGUAYAN CENTRAL BANK ('UCB"). SVCS OFFERED ARE NOT TRADED THROUGH A STOCK EXCHANGE. NO URUGUAYAN REGULATORY AUTHORITY HAS APPROVED OF THIS OFFERING. THIS OFFER IS NOT BEING CONDUCTED IN A MANNER THAT WILL CONSTITUTE A PUBLIC OFFERING. THE PURCHASER EXPRESSLY AGREES