AND OWNERS AND HOLDERS OF AMERICAN DEPOSITARY SHARES Deposit Agreement Dated as of November 11, 2002 Amended by Amendment No.1 as of April 26, 2006 As Amended and Restated as of ___________________, 2008Deposit Agreement • February 28th, 2008 • Tenaris Sa • Steel works, blast furnaces & rolling mills (coke ovens) • New York
TenarisTenaris Sa • February 28th, 2008 • Steel works, blast furnaces & rolling mills (coke ovens)
By this letter, and pursuant to Section 13 of the Deposit Agreement dated as of November 11, 2002, amended pursuant to Amendment No. 1 dated as of April 26, 2006 (the "Deposit Agreement") among Tenaris S.A. (the "Company"), JPMorgan Chase Bank, N.A., as Depositary (“JPMorgan Chase”), and the holders from time to time of American Depositary Receipts issued thereunder (the "ADRs"), the Company hereby removes JPMorgan Chase as Depositary under the Deposit Agreement and hereby appoints The Bank of New York ("BNY") as successor Depositary thereunder, effective on the date of effectiveness of the Registration Statement on Form F-6 required to be filed with the U.S. Securities and Exchange Commission in connection with the replacement of Depositary under the Deposit Agreement (the “Succession Date”). Capitalized terms used, but not defined, herein shall have the meanings ascribed to them in the Deposit Agreement. By execution of this letter by BNY in the space provided below, BNY accepts its
