<SEC-DOCUMENT>0000903423-16-001265.txt : 20160916
<SEC-HEADER>0000903423-16-001265.hdr.sgml : 20160916
<ACCEPTANCE-DATETIME>20160915194606
ACCESSION NUMBER:		0000903423-16-001265
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160915
FILED AS OF DATE:		20160916
DATE AS OF CHANGE:		20160915

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:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13464
		FILM NUMBER:		161888077

	BUSINESS ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB
		BUSINESS PHONE:		54-11-4968-4000

	MAIL ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB

	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>telecom6knot_915.htm
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 3.5pt solid; border-bottom: black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 18pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Report of Foreign Issuer</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Pursuant to Rule 13a-16 or 15d-16</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">For the month of September 2016</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">Commission File Number: 001-13464</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 16pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Telecom Argentina S.A. </B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">(Translation of registrant&#8217;s name into
English)</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Alicia Moreau de Justo, No. 50, 1107</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Buenos Aires, Argentina</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 29%; font: 10pt Times New Roman, Times, Serif; text-decoration: none; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Form 20-F<U> </U></FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid">X</P></TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Form 40-F<U> </U></FONT></TD>
    <TD STYLE="width: 14%; text-align: right; vertical-align: bottom">
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</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">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):</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font: 10pt Times New Roman, Times, Serif; text-decoration: none; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Yes<U> </U></FONT></TD>
    <TD STYLE="width: 14%; text-align: center; vertical-align: bottom">
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    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid">X</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">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):</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font: 10pt Times New Roman, Times, Serif; text-decoration: none; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Yes<U> </U></FONT></TD>
    <TD STYLE="width: 14%; text-align: center; vertical-align: bottom">
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    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid">X</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">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:</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 29%; font: 10pt Times New Roman, Times, Serif; text-decoration: none; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Yes<U> </U></FONT></TD>
    <TD STYLE="width: 14%; text-align: center; vertical-align: bottom">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid">X</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">If &#8220;Yes&#8221; is marked, indicate below
the file number assigned to the registrant in connection with Rule 12g3-2(b): <U> N/A</U></P>


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<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Telecom Argentina S.A.</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">TABLE OF CONTENTS</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><B><U>Item</U></B></P>

<P STYLE="font: bold 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><I>1.</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B><I><U>English translation of a letter submitted to the Comisi&oacute;n
Nacional de Valores (CNV) dated September 14, 2016.</U></I></B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; text-align: justify; margin-right: 0; margin-left: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

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    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: right"><IMG SRC="image_026.jpg" ALT="LOGO" STYLE="height: 61px; width: 122px"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 11pt"><B><U>FREE
        TRANSLATION</U></B></FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Buenos Aires, September 14, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chairman of the Comisi&oacute;n Nacional de Valores</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Lic. Marcos Ayerra</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 4.5pt 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B><U>RE.: <I>Telecom
Argentina S.A.</I> <I>&#8211; Relevant matter - Mandatory Public Tender Offer</I></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">I am writing to you as Chairman of&nbsp;<B>Telecom
Argentina S.A.</B>&nbsp;(&#8216;Telecom Argentina&#8217; or the &#8216;Company&#8217;), regarding the Mandatory Public Tender Offer
as a result of a change of control announced by Fintech Telecom, LLC (&#8216;Fintech&#8217;), for all Class B common shares issued
by Telecom Argentina (the <I>&#8216;OPA&#8217;</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In this regard, we inform that today the Company
has received a letter from Fintech notifying the publication of the Announcement in compliance with article 3, item b.4) of Chapter
II, Title III of the rules of the Argentine Securities &amp; Exchange Commission or the&nbsp;<I>Comisi&oacute;n Nacional de Valores,
</I>in which it is also informed the term of the Mandatory Public Tender Offer (The &#8216;Announcement&#8217;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Moreover, Fintech attached to its letter a
copy of the Announcement that was published today in &#8216;<I>El Cronista Comercial&#8217;</I>&nbsp;newspaper, and that will continue
to be published in such paper until September16<FONT STYLE="font-size: 9.5pt"><SUP>th</SUP></FONT>, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We hereby attach a copy of the letter sent
by Fintech and a copy of the Announcement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sincerely,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Mariano M. Iba&ntilde;ez,</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Chairman</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><IMG SRC="image_026.jpg" ALT="LOGO" STYLE="height: 61px; width: 122px"></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Buenos Aires, September 14, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Telecom Argentina S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Av. Alicia Moreau de Justo 50</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">C1107AAB &#8211; Ciudad de Buenos Aires</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr <B><I>Mariano M. Iba&ntilde;ez</I></B>,
Chairman of the Board of Telecom Argentina S.A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>RE: Public Offer to Purchase S<FONT STYLE="line-height: 115%">hares
(the &#8216;Mandatory Public Tender Offer&#8217; or the &#8216;OPA&#8217;) issued by Telecom Argentina S.A. </FONT>tendered by
Fintech Telecom, LLC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Sirs,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; background-color: white">I am writing
to you as Attorney- in-fact of Fintech Telecom, LLC (The &#8216;<U>Offeror</U>&#8217;) to send you the Announcement made in compliance
with article 3, item b.4) of Chapter II, Section I of the rules of the Argentine Securities &amp; Exchange Commission or the&nbsp;<I>Comisi&oacute;n
Nacional de Valores </I>(&#8216;CNV&#8217;)<I>,</I> published in &#8216;<I>El Cronista Comercial&#8217;</I>&nbsp;newspaper informing
the commencement and expiration dates of the Offer Period and the amendments made to the Announcement published in the same newspaper
during February 24, 25 and 26, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; background-color: white">We notify the
preceding in order for it to be published as a relevant matter in the <I>&#8216;Autopista de Informaci&oacute;n Financiera&#8217;
</I>of the CNV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; background-color: white">We kindly request
that you return a signed copy of this letter as evidence of notification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; background-color: white">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Carolina Curzi</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Attorney-in-fact</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ANNOUNCEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Only to be used</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>within the Republic of Argentina</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FINTECH TELECOM LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>MANDATORY TENDER OFFER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>in respect of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CLASS&nbsp;B COMMON SHARES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>listed in</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>&#8220;Mercado de Valores de Buenos Aires
S.A.&#8221;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>issued by</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TELECOM ARGENTINA S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>This mandatory tender offer has been approved in Argentina by
the board of directors of the Argentine Securities Commission, (<I>Comisi&oacute;n Nacional de Valores)</I>&nbsp;(&#8220;CNV&#8221;),
on September&nbsp;6, 2016. This authorization only means that all information requirements of the CNV have been duly complied with.
The CNV has not rendered any opinion on the information contained in the Argentine Prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the provisions of Section&nbsp;87 and subsequent sections
of Argentine Capital Markets Law No 26,831 , and Section&nbsp;II, Chapter II, Title III, of the rules&nbsp;of the Argentine Securities
Commission (the &#8220;CNV Rules&#8221;) in connection with mandatory tender offers in case of a change of control and indirect
acquisition of a significant equity participation, Fintech Telecom, LLC (&#8220;Fintech Telecom&#8221; or the &#8220;Bidder&#8221;),
a limited liability company organized and existing under the laws of the State of Delaware, United States of America, published
on February&nbsp;24, 25 and 26, 2016, the announcement required by applicable rules&nbsp;and regulations in respect of this mandatory
tender offer (the &#8220;OPA&#8221;) on all common Class&nbsp;B shares issued by Telecom Argentina S.A. (&#8220;Telecom Argentina&#8221;),
free of any liens or restrictions thereon, which as of the date hereof, are not directly or indirectly owned by the Bidder, and
which are listed in the Argentine&nbsp;<I>Mercado de Valores de Buenos Aires S.A.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On February&nbsp;24, 2016, the OPA was duly notified to Telecom
Argentina and the CNV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On September&nbsp;6, 2016, the OPA was duly approved by the CNV
with the following modifications:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><B>1.</B><FONT STYLE="font-size: 3pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Price</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The price to be paid for each Class&nbsp;B
share duly tendered during the Offer Period shall amount to United States Dollars 3.925 (three dollars and nine hundred and twenty-five
thousandths of a dollar) per share minus any cash dividend per share already paid by Telecom Argentina, as follows: (i)&nbsp;dividends
paid on May&nbsp;13, 2016, in an amount of Pesos 0.72 (seventy-two cents) per share, equivalent to US$ 0.050 (five cents) per share,
at a rate of exchange of Pesos 14.00 per each dollar, effective as of the date of such payment, and (ii)&nbsp;dividends paid on
August&nbsp;26, 2016 in an amount of Pesos 1.34 per share, equivalent to&nbsp;US$ 0.088 (eighty-eight thousandths of a dollar)
per share at a rate of Pesos 15.20 per dollar effective as of the date of such payment (as well as any other dividend which is
actually paid by Telecom Argentina prior to the Settlement Date). Therefore, taking into account the above mentioned dividends
paid as of the date hereof, the net amount to be paid for each Class&nbsp;B Share shall be US$ 3.787 (three dollars and seven hundred
and eighty-seven thousandths of a dollar). Such amount shall be paid in Pesos in Argentina, at the buying exchange rate at the
close of business on the day of the Expiration Date (as defined below) as published by&nbsp;<I>Banco de la Naci&oacute;n Argentina</I>,
according to the terms and subject to the conditions which are set forth in the Argentine Prospectus dated September&nbsp;14, 2016
(the &#8220;Prospectus&#8221;). Each tendering holder not domiciled in Argentina for Argentine tax purposes must identify his situation
regarding the capital gains tax in respect of the sale of shares according to the Argentine Income Tax Law, and present the corresponding
documentation set forth in the Prospecto, so that the applicable withholdings may be effected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><B>2.</B><FONT STYLE="font-size: 3pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Tender
Offer Period and Conditions to Accept the OPA.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The OPA shall be effective during the term
of the Offer Period, which shall be comprised of a General Period of 21 business days starting on September&nbsp;15, 2016, at 10:00
A.M., until October&nbsp;14, 2016, at 03:00 P.M., plus an Additional Period of 5 business days, which shall commence on October&nbsp;17,
2016, at 10:00 A.M., and shall end on October&nbsp;21, 2016, at 01:00 P.M.&nbsp;(the &#8220;Expiration Date&#8221;).</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><B>3.</B><FONT STYLE="font-size: 3pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Conditions
to the OPA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The conditions to which the OPA was subject
have been duly complied with or reformulated, so that as of the date hereof, the OPA is subject only to the following: (i)&nbsp;the
acquisition by the Bidder of the indirect controlling interest in Telecom Argentina shall have not been expressly rejected, nor
any condition shall have been imposed that may adversely affect the Bidder, Telecom Argentina or their relevant affiliates (whether
controlling, controlled or under common control therewith) by any Argentine antitrust authority or other authority, and (ii)&nbsp;the
OPA itself or the making of the OPA shall not be partially or totally prevented by any administrative or judicial action taken
by any applicable authority. Further, the above mentioned approval of the OPA by the CNV shall be effective during the term of
the OPA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><B>4.</B><FONT STYLE="font-size: 3pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Agent
for the OPA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The agent designated by the Bidder to implement
the OPA is BBVA Banco Franc&eacute;s S.A., with domicile at Reconquista 199, mezzanine, City of Buenos Aires, Republic of Argentina
(the &#8220;OPA Agent&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><B>5.</B><FONT STYLE="font-size: 3pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Guarantee.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Banco Macro S.A. shall act as guarantor in
respect of the payment of the Offer Price to the shareholders that accept the OPA, pursuant to the terms set forth in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Acceptance of the OPA is voluntary to the
shareholders and shall not be subject to any minimum or maximum number of acceptances to be received. The Bidder anticipates that
Telecom Argentina shall remain as a public company and shall maintain its shares listed in the MERVAL and on the New York Stock
Exchange after completion of the OPA.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Shareholders who accept the OPA must comply
with all requisites and proceedings set forth in the Prospectus in order to evidence their approval, and shall not be entitled
to withdrawal rights, except in compliance with applicable regulations.&nbsp; In case of need of further clarifications shareholders
may contact the OPA Agent directly or indirectly through their respective custodians.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fintech Telecom is a&nbsp;<I>Limited Liability
Company&nbsp;</I>organized and existing under the laws of the State of Delaware, United States of America, registered with the
Provincial Division of Legal Entities of the Province of Buenos Aires, or&nbsp;<I>Direcci&oacute;n Provincial de Personas Jur&iacute;dicas
de la Provincia de Buenos Aires</I>, under the terms of Section&nbsp;123 of Argentina Law 19,550, on December&nbsp;30, 2013, in
accordance with Resolution 10018. The domicile of the company is located at Orange St. 1209, Wilmington, New Castle, Delaware,
United States of America, and, in Argentina, for purposes of Section&nbsp;123 of Argentine Law 19,550, at General Juan Lavalle
2243, Florida, Vicente L&oacute;pez, Province of Buenos Aires. On February&nbsp;23, 2016, the Board of Directors of Fintech Telecom
resolved to promote and make the OPA, and on August&nbsp;5, 2016 accepted to modify the initial Offer Price., Fintech Telecom represents
that it has access to the financial resources necessary to pay the Offer Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Public Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Copies of the Prospectus and any other document
related to the OPA may be obtained from Franc&eacute;s Inversiones, telephone number: 0800-666-4600, or at the OPA Agent&#8217;s
office located at Reconquista 199, mezzanine, from 10:00 A.M.&nbsp;to 03:00 P.M., and also at: www.cnv.gob.ar, through the following
link:&nbsp;<I>&#8220;Informaci&oacute;n Financiera / Emisoras / Telecom Argentina S.A. / Hechos Relevantes&#8221;</I>&nbsp;The
information contained herein is a summary of certain terms and conditions of the OPA; shareholders shall refer to the documentation
mentioned above in order to be informed of the complete terms and conditions of the OPA. All information contained herein is subject
to the complete terms and conditions detailed in the Prospectus. Capitalized terms used but not otherwise expressly defined herein
shall have the meanings assigned to them in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">September&nbsp;14, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">SIGNATURES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 44%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 0%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 0%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 43%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Telecom Argentina S.A.</B></FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Date: September 15, 2016</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; border-bottom: black 0.75pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">/s/
        Pedro G. Insussarry</FONT></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Pedro G. Insussarry</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Responsible for Market Relations</FONT></TD></TR>
</TABLE>


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</SEC-DOCUMENT>
