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PUBLISHED IN OFFICIAL GAZETTE EXCHANGE CONVENTION Nr. 14

Last Friday February 8th, 2013, it was published in the Official Gazette of the Bolivarian Republic of Venezuela Nr. 40.108, the Exchange Convention Nr. 14, which provides on its First Article that “From February 9th, 2013, the exchange rate is set on six bolivars with two thousand eight hundred and forty two ten thousandth (Bs. 6,2842) per American Dollar for purchases, and six bolivars with thirty cents (Bs. 6,30) per American Dollar for sales.”

Also, on its Article 12 it provides that “The National Executive will create a superior entity, in which strategic direction will participate the Central Bank of Venezuela through the President of its Directory, aimed to promote the transformation of the social productive model under the orientation of the National Plan of Economic and Social Developments, to assure the balance of currency flow in the national economy, the efficient allocation of currency, as well as the disposition of priorities for such ends.

Finally, the before mentioned Exchange Convention Nr. 14, repeals the following: a. Exchange Convention Nr. 14, dated December 30th, 2010, published in the Official Gazette Nr. Nº 39.584 dated December 30th, 2010; b. Exchange Convention Nr. 15, dated January 10th, 2011, published in the Official Gazette Nr. Nº 39.603, dated January 27th, 2011; and, c. Article 5 of the Exchange Convention Nr. 12, dated July 15th, 2010, published in the Official Gazette Nr. Nº 39.485, dated August 11th, 2010.