UNDERWRITING AGREEMENT Dated March 16, 2006 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 US$500,000,000...Underwriting Agreement • April 25th, 2006 • Uruguay Republic Of • Foreign governments • New York
and Morgan Stanley & Co. Incorporated (the “Underwriters”). Capitalized terms used herein but not otherwise defined shall have the meanings ascribed to them in the Underwriting Agreement.
