-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HDS6CQnBzyROHhvJurmIrUldiCKSjgnH3mLk9ivNUxdWcUZQ+LCEOSoJzuoHHaub
 tqbhpCre+c/Y6CtYfCOjUA==

<SEC-DOCUMENT>0001193125-05-123746.txt : 20050611
<SEC-HEADER>0001193125-05-123746.hdr.sgml : 20050611
<ACCEPTANCE-DATETIME>20050610161930
ACCESSION NUMBER:		0001193125-05-123746
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050610
FILED AS OF DATE:		20050610
DATE AS OF CHANGE:		20050610

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELECOM ARGENTINA SA
		CENTRAL INDEX KEY:			0000932470
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13464
		FILM NUMBER:		05890193

	BUSINESS ADDRESS:	
		STREET 1:		MAIPU 1210
		STREET 2:		PISO 9
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			1006
		BUSINESS PHONE:		5419684000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELECOM ARGENTINA STET FRANCE TELECOM SA
		DATE OF NAME CHANGE:	19950809
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

<HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>FORM 6-K </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Report of Foreign Issuer </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Pursuant to Rule 13a-16 or 15d-16 </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>of the Securities Exchange Act of 1934 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>For the month of June, 2005 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Commission File Number: 001-13464 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="17%" SIZE="1"
NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="6"><B>Telecom Argentina S.A. </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Translation of registrant&#146;s name into English) </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR
WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Alicia Moreau de Justo,
No. 50, 1107 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Buenos Aires, Argentina </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>(Address of principal executive offices) </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Indicate by check mark whether the registrant files or will file annual reports under cover
of Form 20-F or Form 40-F: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Form
20-F&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2">Yes&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2">Yes&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Indicate by check mark whether by furnishing the information contained in this Form, the
Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2">Yes&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): N/A </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left">

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>
<A NAME="toc"></A>Telecom Argentina S.A. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">TABLE OF CONTENTS
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>
<TR>
<TD VALIGN="bottom" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>Item</B></FONT><BR><HR WIDTH="23" SIZE="1" NOSHADE COLOR="#000000"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">1.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">
<A HREF="#tx17256_1">Press release dated June 10, 2005, entitled, &#147;Telecom Argentina Announces That Court Approval of its APE Became Final.&#148; </A></FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>
<A NAME="tx17256_1"></A>Item 1 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2"><B><U>FOR IMMEDIATE RELEASE</U></B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right">

<IMG SRC="g17256imge_01.jpg" ALT="LOGO"></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B><U>Market Cap: Pesos
7.0 billion </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B><U>June 10, 2005 </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B><U>Contacts: </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2"><B>Pablo Caride </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Pedro Insussarry </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2"><B>Telecom Argentina </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>(54-11) 4968-3627/3743 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B><U>TELECOM ARGENTINA ANNOUNCES </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B><U>THAT COURT APPROVAL OF ITS APE BECAME FINAL </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2"><B>Buenos Aires, June 10, 2005&#150; Telecom Argentina S.A. (BASE: TECO2, NYSE: TEO)</B> (&#147;<B>Telecom Argentina</B>&#148;) today announced that, as of today, the court approval of its Acuerdo Preventivo
Extrajudicial (&#147;<B>APE</B>&#148;) has become final. As informed on May 30, 2005, the Argentine court approved on May 26, 2005 the <B>APE</B> that was entered into by <B>Telecom Argentina</B> and its financial creditors. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Telecom Argentina</B> will soon initiate, as ordered by the Argentine court, the
publication of notices in widely circulated national and foreign newspapers informing non-consenting creditors of the court&#146;s decision to permit them to select among any of the options offered by <B>Telecom Argentina</B> in its <B>APE</B>,
within ten (10) court days following the last publication of notices. The Argentine court has provided that non-consenting creditors that do not submit an election before the Argentine court within such timeframe shall be allocated to Option A.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">For additional information please contact: </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Telecom Argentina S.A. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Pedro Insussarry </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Moira Colombo </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Gast&oacute;n Urbina </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(54-11) 4968-3743 </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(54-11) 4968-3627 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(54-11) 4968-3628 </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Morgan Stanley &amp; Co. Incorporated</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2"><B>MBA Banco de Inversiones S.A.</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Carlos Medina</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Diego Steverlynck</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">(1-212) 761-6520</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">(54-11) 4319-5865</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>********
</B></FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>Telecom Argentina</B> is a company incorporated under the laws of Argentina with its registered office at Alicia
Moreau de Justo 50, Piso 10, C1107AAB, Buenos Aires, Argentina. <B>Telecom Argentina</B> is one of Argentina&#146;s largest telecommunications operators. It provides local and long-distance telephony, mobile communications (through its subsidiary
<B>Telecom Personal</B>), data and Internet access services in Argentina. It also operates a mobile license in Paraguay through one of its subsidiaries. <B>Telecom Argentina</B> common stock is listed on the Buenos Aires Stock Exchange under the
ticker &#147;<B>TECO2</B>&#148; and <B>Telecom Argentina</B> ADSs are listed on the New York Stock Exchange under the ticker &#147;<B>TEO</B>&#148;. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>******** </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2"><B><I><U>Disclaimer:</U> </I></B>This document may contain statements that could constitute forward-looking statements. Forward-looking statements may be identified by words such as &#147;believes,&#148;
&#147;expects,&#148; &#147;anticipates,&#148; &#147;projects,&#148; &#147;intends,&#148; &#147;should,&#148; &#147;seeks,&#148; &#147;estimates,&#148; &#147;future&#148; or other similar expressions. Forward-looking statements involve risks and
uncertainties that could significantly affect <B>Telecom Argentina&#146;s</B> expected results. The risks and uncertainties include, but are not limited to, the risks and uncertainties disclosed under the caption &#147;Risk Factors&#148; in the
registrations statement on Form F-1 (File No. 333-111790) in Amendment No. 2 to the registration statement (filed with the SEC on June 21, 2004), and in any additional amendments to such registration statement. Readers are cautioned not to place
undue reliance on forward-looking statements, which speak only as of the date of this document. <B>Telecom Argentina</B> undertakes no obligation to release publicly the results of any revisions to forward-looking statements which may be made to
reflect events and circumstances after the date of this press release, including, without limitation, changes in <B>Telecom Argentina&#146;s </B>business or to reflect the occurrence of unanticipated events. Readers are encouraged to consult
<B>Telecom Argentina&#146;s </B>registration statement on Form F-1 as well as periodic filings made on Form 6-K, which are filed with or furnished to the SEC. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>******** </B></FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">SIGNATURES </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">

<TR>
<TD WIDTH="47%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>Telecom Argentina S.A.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">Date: June 10, 2005</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">/s/ Carlos Alberto Felices</FONT></P><HR WIDTH="79%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="left"></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Carlos Alberto Felices</FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Chief Executive Officer</FONT></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g17256imge_01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g17256imge_01.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`0@!]`P$1``(1`0,1`?_$`+\```$$`@(#````````
M```````'"`D*!08"`P$$"P$!``("`P$!``````````````4&`@,!!P@$"1``
M``8!`P,"`P0%!@T%`````0(#!`4&!P`1""$2"3$3010*46&1(G&!,A46L4)2
M,U,7\*'18G(C)$0E-;5VMB<8>!DY$0`!`@0$`@<#"`<)`0`````!``(1`P0%
M(1(&!S%!46%Q@9$B$]$R%:&Q4F(C%!8(\,'A0I(S0_%R@N)S@Y,D5A?_V@`,
M`P$``A$#$0`_`(?O.SXU^77BGG:-D^U\Y[?E.,Y.Y.R\]KU=J4]E*KJ4QE#/
M(ZQ)MGZLE;7K1Z4S:T)H%!`I`**`CMVB&B*T/]-SXH^2'&A>C<^LH\OGF;:#
MR:XH5]U7L3R*U_=2-,>Y$=4V\M7;U]9K%)0KUQ$LHX[0ZB+=,YC*B)![=^XB
MJ[>0**R!R+^HGY+\7I?F#;.,F.[]R=FZRXR3,Y#G8FBXVCD:6TEB/G+%>WUF
M$:,3N&0(%(9RV3!1</S!HBL^>%WQ,UCB1S9C<V5WS%4KG`M"XTOL&ZPC6KBA
M8WQF=C0CF!+6NT;9CNX(-();LW4,Q$H&5*4#E$0W(HU/K4,F9(H.>N##>C9!
MO%+0D,0995D$*G;)ZN(/ED+I6R(K/$(9^R2<K)$,)2F.43%`1`-@T17L^+3A
MP[XQ\<W;M==TZ<X(Q"X<NG*JB[ARX6Q]7E%EW"ZICJK+K*&$QSF$3&,(B(B.
MB+YPWG?0OF7_`*C*<XU#RCM7&_'N3GO&BGR5]<7V<@:-CAG8L2U`K^T23`MF
MKT,W8M53BLN)EVY3&$3&/N(B)%,?XN/#?3^.7/#`^:(#S@4+EC(X^E+3*EP#
M`WQK/2M\:KTR>B'2"<6US?:SKHPZ,J+Y0?D%RI^P!A`-NX").OJ3O,AR]J/*
MVC^*_@%:+%CR^V9I1FF3;S1G";+(=IN.6U"-J;BVISXF,I4HTD7)-G$@]:^P
M\.JY*0%DTDC@H1:/C[Z5KR<4RNTG+<#Y6)JM\C81U#VIS549W,)ZO#SP.$G4
MA%-LE-K<YD7KMNF=1,[K]S"@LKW!V^V;NT1.,^J4\O/)#AFUP5P7XH7J5H&5
M\N4)*Z9;R?5G:PY`CJRM(_PE6JG4)<2_.0DG<)>.>K.I!(`>"@FF1(Z8J'-H
MBBGSSX%/*CPGX1__`&-P_D'R*\SGB6HQV<<BXG@+ADMM.4Z)6*C)V!:OWES:
MW;6RV2J1[X5I%%=@BW<%2<`F<X`0#D5F7Z9[RF95\F/#6V)\A)(+'GSCA=FF
M/[G>BLV<<;(];L,0,U3+;)L(])LQ1L1$&SEB^,BDF1=1J5?M**I@T1?.+SMF
MWE;7^6W*[*5'RYEP8C!/*6ZV%Y[>1K@,;"!_?C.,JHDI'EF?9"-4EFB3;L[/
M:*!BD$-A`-$5SSZC+R@2>4?$OP%BN/UFE(;(7D9>XUOPH4^9?1EF8UJM0D/*
MST`R=P[A-XE[V4IMC&*`14#*&;*ICN'<&B*D##W7E<:`R)B0V7,P#DE'D;AK
M&*46.4[B+A.VN(W.\`O"$=?O[VRF6GFJ:!A`WMB<A1'T`=$5S;ZX0?\`TY\?
MO_>N>/\`H.//\NB*UGXC?_R]X`__`!+P=_X#"Z(OFG^0YEQ2DOJ1N3S+G#(S
MT3Q3<<I)XF9I&L'G"3K6M?P,T%NI'&K31_.`K^^@:@;Y9(ZG9OTVW'1%:=\)
M[[Z<#'O-F,C?&1?LS3/*+(F.;K3XJ,OB&8G4,\I[1!I<+60JMUK,7",W9&U8
M35`ZBQ3B"7:0!W$-$48GUO8;\@>!9>X!'^YS+P[B/:(@%VK.X_=OHBG^\?GU
M'_C)S0XXC<-:';<O/,UVVMXGPM"L'^(YJ/KRMW:5.)@E4%["L\^70C0D&*A?
MF!()1*&^W71%4R\^[;CD\^I1G&G+I[-1_&-9_P`7$\XO:X,J$\VQV?$%,-85
M8H8)L\F`>E;&_)\LD=;^B&_71%-!XKW7TN>,N=F!Y7@ADC.K[E98)B8H^)65
MQ0SD\K[^6MM=E8>0:OPL]38P+;WXA9P4JKE9(A3"&PB.VB*/+ZE3!F?>"7F)
MQ)Y3:W3'EQQ1/VG!F2J_8EX]56K0^2\+C"Q\KC2T23=$4HI>=8UQNZ9**F(9
M8CLP)B8Z(AHBL1T_ZMSQ$3^.J_:9BZ9@KM]EVT8G(XC'$-ED[-&SKSV$7,:E
M/-")TI^S;/5A(1T$B0%$B]_84=R`108_6(<:<GP_(;B;Y%*37Y>:Q:XQ[6L?
M62?(S.^B:->JC:WMVI:5B%JBLG&L+9%V`2(*+'%)5PT43`>X2`8B=%SZ^J5X
M,<A/%%E+&F/4[T\Y6<AL(NL33^(I*G2K&'QQ/6Z*)7KE/2EV432K,I`1;8[E
M=B5@LX7=&.B4Z:8>YVD3BOHU^*>5<)<+<[9TR-`R=8@N363JW(8MC)ALJR?3
M%+QU!R$0O<RM'"*2Z49-SDVX19G'\KA)G[A-R&*82*NAXV>+Z',KDG]07QY^
M6^:F[;@+DS/4DH)D5.GD&@<GHJ[4DR1#;G]U:>@TD-RAN)5C!N&^^B)'_`E0
M,G>13R4>/S!F65RS^&_'_"7')<7"NV!A3B*G4+O(9,:0$J950X.0E,NV!B@8
MIRE`&@>UML4!T1,(AES?^]')"_\`.'RK847]1_:#*^?S_M;]VVXZ(OK[<F>$
M/$SF6SJ4?RHX_8TSVRHCF6>4]KD>`1G&]==3B+5O+.(Q-8P`W6D$&:13CL/]
M6`]!`-$2]8]H5.Q91ZKC?'M9BJ;1*-!1M7J%4@FY6D-7:]#-4V45#QC8AC%0
M9,&B14TR_`H!HB8EE/Q#^,K.&1[?EO+O"'C_`)$R7?992?N=YM5*:2=@LDRL
M@BV5D)-XJH)UW!T&Z91'8H;%]-$6?P=XL?';QER1$9AX^\.L'8CRC7V<JQA+
MU1Z>TA;'&M)QBK&2S=H^2.82$?QZQTC@(;=AA#XCHBWODKX_^&',B9JL]RHX
MU8HSS,4B.DHFI2>1ZVA/NJ]&2[E%[),8LRYP%!L]=MR*'#J/<4/U$208V\0?
MC$PQD&HY4Q7P>X^4+)%"FFMDI=TK=&:L)ZM3S$3"SE8MZD?W&SIL)A$I@UR`
M3P7,.Q;!F_Q9>.SDYDJ9S'R$X=8.R[E.Q,XIE.7R\TYM,6"3:03!O%0[9T[7
M5$3)QT:T213#8.TA`#KI`H1`1/!8/%WB*\9.#\B5#+>(>$/'_'N3*#+IS],N
M]5I#.+L-;F4D5FR4C%/TC]Z#A-!R<H=!#8WIOMI`K@8\()]E\H%#RE4Y>B9*
MIE5R#39YM\K-U.Z0$99:Y+(;]WM2$/,-'K!T4I_S%[TS"4P`("`@`ZP+@WC'
MP*QS-C#FHYV?A2\2\;--K`R\>_%Y"7:2)91L[+C.'5!)\DN#@C@K94ORGY%O
MS`02"0!#TT:\.X1PZBN20/V8J1:U8\H=[I4ACNZTFK6^ART8G#2E*L\#%SE7
MD(I(B:2,<]A))JYC7+1!-(G80R8@3L`2["`"&2`@\%'Q`>%[Q1UFTL[K"^/O
MBZPL\=*?OAE(EQA!.BH2/>*P.B,7:*T</:J81!,R(IA\`T7*DQ:,6<>S:L(]
MHU8LV+5!FQ:-&Z+9JS:M4RHMFK5L@0B#=LW2(!2)D*!2%`````-$32L(\!>&
MG&S)5YS%@3C;BG$^4LEMY9M?KW3:RVBY^VMYV:)8YA";>%54,\3DIX@.U0$`
M[E0`1]-$75Q_X!<,N*EXN62N.'&?$V%K[D)FK&W6W8^K+2#F[''N9<)YPUDG
M:>_O(+3``N<@``&4*`_`-B)'$_#SXP$;&\MZ7!SCV2S2-\C,FOILM)0"2<WZ
M&?RTI%6U5U[_`'FG&,E.O%DUO4IG!PVZZ(I*-$1HB-$1HB-$70L8I`[SJ$2(
M4!$QCB4I``/M,80`/QUR&!YAE+G=2Q<X,!<X-R#B3R2>V'+F,*F4XV;(5*@2
MI@/N#,6>%8=NP[=2KO2F#4I2V.^USPRCHZB87'"#'&/@%`5VK])6T'XC<:*2
M&\0Z:T0\2DE=<UN)+$YTW?(W#R*B8B4Y/XXA#F*(>H#[;DW4-2PT)K5W"VU7
M>QP^=5JHW;VOIOYE[M[?]UJ]R*YC<4YI0$HOD/B!ZL<0`J2=Z@2G$P^A.T[L
MH[_=MOK7.T5J^F&:?;ZP-_TG0\0%NI]U=MJL#[O>;>Z(Y3&I7H3(5&M)"*UF
MXU>>2';8\1/1,@4W<`_L"W='W]-0\^V7BE_G4LY@YYF.'ZE9:#4%BNF8VRX4
MTP-AFR/8Z$>$8?(MT3-N4-S`(_=M\?T".O@)(P?@XJ9;YAF#@YO2%VZ+)&B(
MT1&B(T1&B+@;UW#UV]-]:G>68'D^6"X,81'O+I*IL.PCL7<W3\XB`@/Q';H&
M^A?,?-`8WR]:Y#9Q\\S*&]R:CR'YM\<.,3!9UE3)$/&RA"&%"KQBY)6RO%.T
M3)(HQ;50ZJ9UC;``G[0^_5QTYM]JK5T\2[33S&Q/ONP;VX^Q=9:VWAT#H&2Y
M]ZK99GC^FPYG?(HG+IYC9RZ.%6^-`QQ@VH>Z<G\?9DEE9VQ.&P[`5S%4*NG5
M<F4`#;E*LJ4!^.VNY:'8IEO#1>C45U8.,N6/29F^CF:6D@'",<5Y8N?YL+K>
MICVZ8%MM-L#B/5K7NF3'-C@^6R2)X\PQ:'AL(X@'!-SM_/'C#+)^[F#E=RXS
MX\4$1>5_&3!GA?'JIP,/>DT;19R3IV8^@"H\$PAJU4>V6MJ=I%DM-NMT@_O3
M"VI>[ZT9A>6]&4$`\8*BUV]^WE0\SM4Z@OUZ?^_*IXTDII^A+,DRG.:>(=,\
MW+`)(''/GQNPB@J1'`Z;O#D@])7)]V<V5ZX'^W64GI&:`3J".YOR[[C\=2;-
MK]P:H9*J]R:;'A(EB41V.8R(_B5='Y@-A**?FH=*551TFLGS*@GKA,GO!CUA
M=Z'E.XC,@(G%^-;"J:0;]IG+*GG,&W0O4U66/OV^O76X[.ZO_P#2UW_-,64S
M\S^T<K"1H2VO'UJ6G=\\5P7\H?#66$23_C7P\L!MR'&-1JK90"[]1!1.L-SE
M,'V@.^MQV;UF&`R-4U1=`8/FS2.R!B%P?S.;55+,M7H.B9*A_3D26&'46%A'
MBO+#G3XU9=0IS\0LH8ED_<_YUB7),O7W#`X#N59J2(FHUH;8>NQT1#IZ#KYW
M[<;HVYIE2KQ054EXX39#9IP^L^42(QQ@1'N6NFWQV%FS/5.G;O11XNIZN=*:
MWK+65(#H<H@PY<4M=>\@6(Z\B1?!W-S.E&=H"44*3R7IK?*%04'H(,PL<4>.
ML;)'T)[@G7[`Z]=1$W;2\36G\06:WU3(>:=)F.E3&CF6RFN:TD<ASZ%=[9O?
MI.2]L[1.I;C350/V=-6,]62\\F39KVS'!O28]Z<_CKS315=<-(W/]:KLI#*"
MFF?*.%)Q*QP8E,?M%Z^JS[Y6=CB[&*)R@4_9N/KMJF7C8>?5M];3$Y[:HQ^Q
MF@]PS0AXE=BZ>_-A(HZL46LY<ITC@:BG(<WMR_Y5+_A;D;A?D%`(6'$N0X"X
M,S)D,LW8OD_WDT$Q0-VO8TQBO&RA0-L8#%Z#KI:_Z1OVG)[Z._T[Y51+=E<6
MQR9AQ@X8'J7IW2FXNDM;4[*G35?(GYV!V0D->`>EL`0>I+D0=S']?0NV_IMU
M]-0`RY1`Q^=7<$%Y$"'`"/0>Q=NBS1HB\".G:@Q[%I%]O]2QM79*VW:;90$!
M%MCKNGKU<B0;$W,":*9C`HLL?T`I0$=?;;[75WBJ916]CIE0XB``P[RHJ[WB
MW6"E?<[G.9+I9;(F)Q/'@.:K"\Z?-!=K/(S6,>,!E*A")^['R>0%DP5G'A3@
M9,P0B9=RL>_^T,`CL/37KC;W8RW4TJ7<M5%QJAB)1:,AB,,8QP./#%?G!OA^
M:V\U57.T[HAWI2'&'KM<[,,IB8#@<P&7CA'!03JQ>1K]-NIZ86L%AFI)85WT
MU-.G3UZ\4.(F,8[A<QC@4W=Z!L`?`-=^,=1V:E%';&LE2VX"``*\673\1:JJ
MW5MQ=-J*EV)+B3QZC@M[A./5TE-C+MU$RB;N$2I&%01]?ZP0[@W'6LZEM\AL
M#,)?S),<>?'K4I1[=W.HRO,MPB!S,.'1P2M17$R;=B11=)V83`7?<#"7TZ[`
M!2[;_KU$5.LJ&6<'G'ZQ^97&DVLKI[(.8YK1R;Y8]9A")[4H+#AP[$H%/'*G
M[NWJ8%!`-^O4-NNHB9KZF!+<S8=@CX\5,RMG*ESQ$/,KF"`2?\1\P[EL2?#)
M;L#_`(6/I_9&Z?;\!UI_'=+](>"DY>S[I?NRG>)7K*\,UP[Q"*/TWZ^T;^70
M:\D\YC"WHRM]D4F[-3<N?)-Q^L[GWK77O#AX1-021ZQ!]=RE.`_'[`^&OJD:
M^I08`L@?JC]84+5;-5+B(>L&#B`3C\J368XHV!H(_+)ND@Z].PQ@'K\=P[PW
M^X0'4M(UK1O<!]D3_=:/EA$*&J=I:Z1+=Z'J-9#$<0>H@X%)1,8)N<0*QD6O
MN!L(*?ZE0BJI2[;EW3`-P'[]OUZG:74%%4NB\2\O5@?XA`JIUFAKW;S@V8YG
MT<Q:/!JQ%+M>8,'6AM;Z#+6.D6&-6*HC)PKA=L`@F<IQ!VW)_L[Y(>WJ"A#;
MATUS=[=IN_4CJ>KDRYK7C][$CO.)[2OELUUU;HNZBX6.;/HYS71(:YQ$>N/$
M*RAP+\S[:\K1F-.3S9K$690$&D;D2/0]F+E`#=)$TVU*8?E'BNWYCE`"[_#7
MD_7NP[J!KKOI<OF2SF+Y9``:!BW*0<8X\>A?H?LY^;"9=IDO3^N&RV3X,;+F
MAQS/)P=F!`&&!Z<581BYF-FH]I*Q+UK(Q[Y)-=F\:+D7;N$5B]Z9TU2"8I@,
M4=>:*EDZDG/D5#"V:V.!Z0O<]#64ERIVU5$\3)+A&(Q61W-]@?CK7G=Z6>'F
MZ%]'FCRRK2[U=8RBU][.2(F.*"8_+M2?UKI;^:F0=A`H;CU$?0-2EOM\VX53
M931]G$1/1%0]]O%/:*)\YS@)H:8#I5=7F/>\G\B)Q2,5=OB5]!=5)A$-U#)Q
MZ"9A.4"E+U*JJ!1_,H8`$1_1KT]HB@L6F)3:B6&OJ8YLY'#`8&./7@O#&ZEU
MU'K2I-/+$W[J)>6#78'S$\(CD4TBA\#G$HY!Z[C!.H<WI\N!@`=AW$PB7;J/
MXZO=XW$ENEYFSFYVP@,?8NI;+L:)S3.G-^V<8Y2(N/?B,.U/KHG`<X`U`(@P
ME[2_[L`@`]H>G38-=;7/<K*XQFCCU^Q=R:;V3ERFC_K./<$Z^K\$0(EL>.*F
M`;?MI$+L&P?;MJH5&Y4IT1F!,>OV+M>AV3+8.=+RM('1[4M,-PGC$B$]U-L0
M2[;]Q2=.GI\?34#5[@.F$9!'#I5KD;14TL0P'<M]:\/X!$I>_P"4';MZ`0-Q
MV#8>O;J&F:WJ2Z(82.T*9D[64+($EL>Q9LG$VL=H`86@"`?SDCC^'9VAK#\;
MU?T#\B^O_P"96_Z3?!<%>)=7.':`-0Z;"()[;_>&Y1'\>NN?QO5?0/B%G,VS
MMSF9<PCAR6#>\/(!4AP2^4,)M^AB!]GWEZ:W2M<5`/F8?%1D[:JB</*6I/)O
MA#'N2]R+=J<=C#^4$MPW_3M\-2LG7[_=]TQXJ'G;12)D0`('J2#6O@B!B*@G
M&`8![NA$"#OMMMZ=!U9:#7[I8\\X>)5*O>RS#P9\@]J:-D#@*4?=[XKJ('``
M^5`>HA_HCMJ[VS<:2('UVD]_L75-XV1DS!,]20>)@8<4R"V\'Y2MRAI2.C%D
M1;JB83D2%("%`0_*`%V`W?\`'5]H]Q#4L^[F8TR7>\.D?I%=)W#9F?05[:R5
M)F!["2PC"!\>Q2A<(\Y9#Q*9I3+,=Y+5-0Q$P8NO<648F,8J9#L3F,/RX$#J
M)?0=M=/[B6*S74/KJ-K63VM+L!Q(QAWKTQLUJG46G7&@O+GFD=!HS1@!PCS4
MY'\31?[@_B3YHO[N^3!Y[O\`F>T)_;]-_<^&WKOKSY]VF?>/N^7%>POBTCX5
M\1B/2AQ6@Y1H#^\IH-"*$^6*F8IRF'\O<([]PEW#J/IJ5M%T%N=G;",8XJ-O
MMG^)2RV8'.B.7[8)'J]Q.K#1R#J6206$!$PIIH[[G$=^X1$VV_75CJ]<5<P!
MLD@`"&']BI=%ME9S,,^KES,^;#AP_B2_0F+J=`IE(RAFNQ=NJI"F$1`/Z.VV
MJO5WZYU0+3,@TJ]46F+)0-#J>0/5'`D#]."WM%FV;%*5!LBB!0V+[*1"[!]G
M0`'429L]^,UQ)[5.RI4N6`);6M'8O;V].OI^'ZP#6"V+S^G_``_QCHB-$1HB
M-$1HB-$[%P,0#;=`Z?:`#_+K(&"Q+&.]\16/=13%V`@X9-%P$.O>@F(CN&P[
M]-;&U%0S^6\CO*^>;32GB!8TLZ(!)Q8,/4JPE5*[ADBBJ!MQ(!0`HFVZE)Z?
M#7W4E[N])-S,G1:>.*KUPTO:[HS+/EN9",,H'/O"01_Q.AF\A\_"%3#8W<!#
M%!$=]]P$0[C%$`'X:MK=8SIS0RI=ASCBJ9-V[I91<^F]<P!@(-$3R'OI7PQQ
M,!0CU45_S&72$I>\=@3*FL4Y>[NW[1$Y?PU`_%9/Q(5&4>G`X]X]BLWP"I^!
M&C\V;`Y>?/#C#Y4NVJXKPC1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1%_
"_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
