UNDERWRITING AGREEMENT Dated March 29, 2007 REPÚBLICA ORIENTAL DEL URUGUAY, acting through the Ministry of Finance AND MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED DEUTSCHE BANK SECURITIES INC. UNDERWRITING AGREEMENTUnderwriting Agreement • April 25th, 2007 • Uruguay Republic Of • Foreign governments • New York
Contract Type FiledApril 25th, 2007 Company Industry JurisdictionREPÚBLICA ORIENTAL DEL URUGUAY acting through the Ministry of Finance (the “Republic”) proposes to issue and sell to the underwriters named in Schedule II hereto (the “Underwriters”) the Ps. 12,135,000,000 aggregate principal amount of 4.25% UI Bonds due 2027 (the “Securities”). The Securities will be issued pursuant to an Indenture, dated as of May 29, 2003 (the “Indenture”), among the Republic, Banco Central del Uruguay (“Banco Central”), as the Republic’s financial agent, and the trustee named therein (the “Trustee”). A copy of the executed Indenture was filed on June 9, 2003 as an exhibit to a post-effective amendment to a registration statement (333-103739), under Schedule B of the Securities Act of 1933, as amended (the “Securities Act”), dated March 11, 2003, of the Republic. The Securities will be issued in the form of one or more registered global securities (the “Global Securities”) deposited with a custodian for, and registered in the name of a nominee of the Depository Trus