UNDERWRITING AGREEMENT Dated May 26, 2005 REPÚBLICA ORIENTAL DEL URUGUAY, BANCO CENTRAL DEL URUGUAY, AS FINANCIAL AGENT OF THE REPUBLIC AND CITIGROUP GLOBAL MARKETS INC., AND MORGAN STANLEY & CO. INCORPORATED UNDERWRITING AGREEMENT U.S.$200,000,000...Underwriting Agreement • June 17th, 2005 • Uruguay Republic Of • Foreign governments • New York
