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<SEC-DOCUMENT>0001193125-08-085369.txt : 20080421
<SEC-HEADER>0001193125-08-085369.hdr.sgml : 20080421
<ACCEPTANCE-DATETIME>20080421114710
ACCESSION NUMBER:		0001193125-08-085369
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080416
FILED AS OF DATE:		20080421
DATE AS OF CHANGE:		20080421

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BBVA BANCO FRANCES SA
		CENTRAL INDEX KEY:			0000913059
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12568
		FILM NUMBER:		08766048

	BUSINESS ADDRESS:	
		STREET 1:		RECONQUISTA 199
		CITY:			1003 BUENOS AIRES AR
		STATE:			C1
		ZIP:			00000
		BUSINESS PHONE:		2127595576

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRENCH BANK OF THE RIO DE LA PLATA
		DATE OF NAME CHANGE:	19931005
</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">

 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P
STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:3px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>FORM 6-K </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;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:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Report of Foreign Issuer </B></FONT></P> <P STYLE="margin-top:12px;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:12px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>For the month of April 2008 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Commission File Number: 001-12568
</B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="6"><B>BBVA French Bank 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="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P
STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Reconquista 199, 1006 </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="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P
STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;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:12px;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:12px;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:12px;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:12px;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:12px;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:12px;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:12px;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:12px;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): <U>N/A</U> </FONT></P> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:3px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P
STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>BBVA Banco Franc&eacute;s S.A. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">TABLE OF CONTENTS </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="95%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:15pt"><FONT FACE="Times New Roman" SIZE="1"><B>Item</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"><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">Letter to the Buenos Aires Stock Exchange in relation to the results of Ordinary and Extraordinary Shareholders&#146; Meeting</FONT></TD></TR>
</TABLE>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>MINUTES OF BBVA B<SMALL>ANCO</SMALL> F<SMALL>RANC&Eacute;S</SMALL> S.A. O<SMALL>RDINARY</SMALL> /
S<SMALL>PECIAL</SMALL> S<SMALL>HAREHOLDERS</SMALL>&#146; </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>M<SMALL>EETING</SMALL> - <SMALL>HELD</SMALL> <SMALL>AT</SMALL> <SMALL>FIRST</SMALL>
<SMALL>CALL</SMALL> <SMALL>ON</SMALL> M<SMALL>ARCH</SMALL>&nbsp;28, 2008 </B><B><I>(B<SMALL>UENOS</SMALL> A<SMALL>IRES</SMALL>, A<SMALL>RGENTINA</SMALL>).</I></B><B> </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2"><B><U>M<SMALL>INUTES</SMALL> N<SMALL>O</SMALL>.&nbsp;186 </U></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">An Ordinary and Special Shareholders&#146; Meeting of BBVA
Banco Franc&egrave;s S.A. was held at the offices of the corporation at first call on March&nbsp;28, 2008, at 4:30 pm, pursuant to Section&nbsp;27 of the Bylaws. The Meeting was chaired by Mr.&nbsp;Jorge Carlos Bledel, Chairman of the Board of
Directors. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">According to the Share Registry and the Shareholders&#146; Attendance Registry, a total of 17 shareholders were present at this Ordinary and
Special Shareholders&#146; Meeting that was held at the first call: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">6 shareholders were present in person and 11 by proxy, </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">with a total of 410,757,683 book-entry, common, registered shares, of one vote each and a face value of one Argentine peso each. This represents a capital of
ARS410,757,683 (Argentine Pesos), i.e. 87.14% of a total capital of ARS471,361,306. Therefore, the quorum required by Sections 243 and 244 of the Argentine Business Associations Law (<I>Ley de Sociedades Comerciales</I>) and Section&nbsp;27 of the
Bylaws was met. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The Chairman explained that Mr.&nbsp;Alan Arntsen, The Bank of New York&#146;s representative, as depositary of American Depositary
Receipts (ADR), had handed him a letter dated March&nbsp;25, 2008 which, pursuant to the regulations of the Argentine Securities Commission (<I>Comisi&oacute;n Nacional de Valores)</I>, clarified how he was going to vote. This letter was to be
considered for the counting of votes on each item on the Agenda. </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">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The Chairman stated that a copy of the notices published in the Argentine Official Gazette (<I>Bolet&iacute;n Oficial de
la Rep&uacute;blica Argentina</I>) and in the daily newspaper &#147;La Naci&oacute;n&#148;, between February&nbsp;22 and February&nbsp;29, 2008, as provided in Section&nbsp;237 of the Argentine Business Associations Law and Section&nbsp;24 of the
Bylaws, were available for all shareholders present. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Directors Messrs. Marcelo Gustavo Canestri, Oscar Miguel Castro, and Javier Jos&eacute;
D&#146;Ornellas, members of the BBVA Banco Franc&eacute;s S.A Board of Directors were also present at the Meeting, as well as Messrs. Mario Biscardi and Alejandro Mosquera, regular members of the Statutory Audit Committee. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The Chairman welcomed Certified Public Accountant Mr.&nbsp;Ariel Schmutz, who was present on behalf of the Argentine Stock Exchange (<I>Bolsa de Comercio de Buenos
Aires</I>). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><I></I>The Chairman informed the shareholders about a Resolution of the Argentine Securities Commission&#146;s Board of Directors dated
February&nbsp;21, 2003, referred to voluntary refraining from voting at Shareholders&#146; Meetings that was to be considered for the counting of votes, and that has been transcribed as follows: <I>Voluntary abstention from voting during a
Shareholders&#146; Annual Meeting shall be deducted from the calculation base for the purposes of vote counting, creating a new base over which the respective majority shall be considered after deducting any voluntary abstentions. </I></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Prior to discussing the first item on the Agenda, the Chairman appointed as Voting Inspectors the following shareholders&#146; representatives: Mr.&nbsp;Juan Patricio
Duggan, representative of &#145;Bilbao Vizcaya Am&eacute;rica B.V.&#146;, and Mr.&nbsp;Gotardo Pedemonte, representative of &#145;Inversora Otar S.A.&#146;, who accepted the nomination. </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">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The following items of the Agenda were subsequently discussed: </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>1</B>.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>A</B>ppointment of two shareholders to prepare and sign the minutes of the <B>M</B>eeting, along with the <B>C</B>hairman of the <B>M</B>eeting </FONT></TD></TR></TABLE> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">A motion was submitted by Mr.&nbsp;Javier Zapiola, and was accepted by a majority of votes, to appoint Messrs. Gotardo Pedemonte, representative of &#145;Inversora Otar
S.A.&#146; and Juan Patricio Duggan, representative of &#145;Bilbao Vizcaya Am&eacute;rica B.V.&#146; to sign the minutes of the meeting. There were 410,733,383 positive votes, that represented 99.9998% of capital present; 900 negative votes which
represented 0.0002% of capital present, and 23,400 abstained from voting, which represented 0.0057% of capital present. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Item&nbsp;2 of the Agenda was
subsequently discussed: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>2.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>C<SMALL>ONSIDERATION</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> <SMALL>ANNUAL</SMALL> <SMALL>REPORT</SMALL>, <SMALL>FINANCIAL</SMALL> <SMALL>STATEMENTS</SMALL>,
<SMALL>ADDITIONAL</SMALL> <SMALL>INFORMATION</SMALL> <SMALL>AND</SMALL> <SMALL>OTHER</SMALL> <SMALL>ACCOUNTING</SMALL> <SMALL>INFORMATION</SMALL>, <SMALL>STATUTORY</SMALL> <SMALL>AUDIT</SMALL> <SMALL>COMMITTEE</SMALL>&#146;<SMALL>S</SMALL>
<SMALL>REPORT</SMALL> <SMALL>AND</SMALL> <SMALL>AUDITOR</SMALL>&#146;<SMALL>S</SMALL> <SMALL>REPORT</SMALL> <SMALL>FOR</SMALL> <SMALL>TAX</SMALL> <SMALL>YEAR</SMALL> <SMALL>NO</SMALL>. 133, <SMALL>ENDED</SMALL> <SMALL>ON</SMALL>
D<SMALL>ECEMBER</SMALL>&nbsp;31, 2007. </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Juan Duggan was given the floor to express that the abovementioned documents had been at
the shareholders&#146; disposal in due time, and therefore, he suggested that they be deemed as read and approved. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This item was submitted to voting and
was approved by a majority of votes. There were 406,767,302 positive votes, that is, 99.9998% of capital present; 602 negative votes, that is, 0.0002% of capital present, and 3,989,763 abstentions from voting, that is, 0.9713% of capital present.
</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">3 </FONT></P>


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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>3.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>A<SMALL>PPROVAL</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> B<SMALL>OARD</SMALL> <SMALL>OF</SMALL> D<SMALL>IRECTORS</SMALL>&#146; <SMALL>AND</SMALL> S<SMALL>TATUTORY</SMALL>
A<SMALL>UDIT</SMALL> C<SMALL>OMMITTEE</SMALL>&#146;<SMALL>S</SMALL> P<SMALL>ERFORMANCE</SMALL> </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Gotardo Pedemonte was given the
floor, and he stated that the Annual Report which all shareholders had at hand was in itself a clear evidence of the hard work carried out by the Board of Directors of BBVA Banco Franc&eacute;s in different areas of activity. He added that the
Annual Report shows enough evidence of the diligent works carried out by the Board Members and members of the Statutory Audit Committee within a complex and competitive financial environment. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Pedemonte moved for the approval of the work carried out in 2007 by the Board of Directors and the Statutory Auditor&#146;s Committee. The tax year ended on
December&nbsp;31, 2007, with positive results, after several tax years which reflected the deep financial Argentine crisis. 2007 results widely exceed last year&#146;s profits. This motion was considered, voted and approved by a majority of
shareholders. The results of the voting were as follows: 410,706,236 positive votes, that is, 99.9965% of capital present; 14,334 negative votes, that is 0.0035% of capital present, and 37,113 abstentions from voting, that is 0.0090% of capital
present. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>4.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>C<SMALL>ONSIDERATION</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> I<SMALL>NCOME</SMALL> <SMALL>FOR</SMALL> T<SMALL>AX</SMALL> Y<SMALL>EAR</SMALL> N<SMALL>O</SMALL>.&nbsp;133,
<SMALL>ENDED</SMALL> D<SMALL>ECEMBER</SMALL>&nbsp;31, 2007. D<SMALL>ISTRIBUTION</SMALL> <SMALL>OF</SMALL> C<SMALL>ASH</SMALL> D<SMALL>IVIDENDS</SMALL> S<SMALL>UBJECT</SMALL> <SMALL>TO</SMALL> <SMALL>RELEVANT</SMALL> <SMALL>AUTHORIZATIONS</SMALL>
</B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The Chairman reported that, as the shareholders were aware, tax year No.&nbsp;133, which was the purpose of this Shareholders&#146;
Meeting, showed positive results of $235,049,000 (ARS two hundred and thirty five million and forty nine thousand Argentine Pesos) as it appeared from the financial statements approved under Item&nbsp;2 of the Agenda. He added that on the basis of
the above income, at its meeting held on February&nbsp;12, 2008 the Bank&#146;s Board of Directors resolved to propose the distribution of dividends in cash for a total amount of ARS 164,000,000 (to be distributed pro-rata to the nominal holdings of
each shareholder, i.e. ARS 0.34793&nbsp;per share). Mr.&nbsp;Bledel also informed that the allocation of ARS 47,009,804.83 for the Legal Reserve is pertinent, pursuant to the Business Associations Law and the Argentine Central Bank
(<I>B.C.R.A.&#151;Banco Central de la Rep&uacute;blica Argentina</I>) regulations<I>. </I>The Chairman informed the Shareholders that the distribution of </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">4 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT FACE="Times New Roman" SIZE="2">dividends was subject to the prior written authorization by the BCRA in accordance with Communication A 4664 dated May&nbsp;11, 2007. In this regard, the
Chairman informed the Shareholders that the corporation has filed all pertinent requests with the BCRA and this Controlling Agency has approved the above requested distribution of dividends. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Consequently, the Shareholders&#146; Meeting was requested to approve the following: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(i)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Distribution of cash dividends for a total amount of ARS 164,000,000 to be distributed pro-rata to the nominal holdings of each shareholder, equivalent to ARS 0.34793&nbsp;per
share; and </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(ii)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Allocation of the amount of ARS 47,009,804.83 to the Legal Reserve. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Mr.&nbsp;Gotardo Pedemonte was allowed to take the floor, and stated that on the basis of the above and considering the income for the year was discussed in item 2 of the agenda, he moved for the approval of the proposals made by the
Chairman on behalf of the Board of Directors. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This motion was submitted to vote, and approved by a majority of votes. The results of the voting were as
follows: 410,725,952 positive votes, that is, 99.9995&nbsp;% of capital present; 0.0005&nbsp;% negative votes, and 29,475 abstentions from voting, that is 0.0072&nbsp;% of capital present. </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>5.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>B<SMALL>OARD</SMALL> <SMALL>OF</SMALL> D<SMALL>IRECTORS</SMALL>&#146; F<SMALL>EES</SMALL> <SMALL>FOR</SMALL> <SMALL>THE</SMALL> T<SMALL>AX</SMALL> Y<SMALL>EAR</SMALL>
<SMALL>ENDED</SMALL> D<SMALL>ECEMBER</SMALL>&nbsp;31, 2007. </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The Chairman reported that directors&#146; fees for the year had already
been paid out as prepayment and that such fees amounted to a total of ARS 8,283,709, allocated to the total amount of fees paid to independent and executive directors. Bearing in mind the provisions of the Business Associations Law and General
Resolution 368 of the Argentine Securities Commission (Chapter III, section 5) for payment of directors&#146; fees, Committees organized by virtue of Executive Order </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<FONT FACE="Times New Roman" SIZE="2">677/01, Argentine Securities Commission Resolution 400/02 and the Sarbanes Oxley Act, have analyzed and assessed the above fees (assigned and received) as
prepayments by members of the Board of this corporation. These fees turn out to be adequate according to the parameters mentioned in Subsection (d), Section&nbsp;2 of Chapter III of the Rules issued by the Argentine Securities Commission (General
Resolution 368/01 and its amendments). Consequently, he moved for the approval by the Shareholders of the total amount received as prepayment of fees for the year ended December&nbsp;31, 2007. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Juan Patricio Duggan took the floor and moved for the approval of the total amount received as prepayment of fees by the Directors during the year ended
December&nbsp;31, 2007, as they were adequate in view of the above explanations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Subsequently, the shareholders approved by a majority the total amount of
fees received by the Directors during the year ended December&nbsp;31, 2007, for the sum of ARS 8,283,709. The results of the voting were as follows: 410,683,820 positive votes, that is, 99.9943&nbsp;% of capital present; 23,403 negative votes, that
is, 0.0057&nbsp;% of capital present, and 50,460 abstentions from voting, that is, 0.0123 of capital present. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>6.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>D<SMALL>ISCUSSION</SMALL> <SMALL>OF</SMALL> F<SMALL>EES</SMALL> <SMALL>PAID</SMALL> <SMALL>TO</SMALL> <SMALL>THE</SMALL> S<SMALL>TATUTORY</SMALL> A<SMALL>UDIT</SMALL>
C<SMALL>OMMITTEE</SMALL> <SMALL>FOR</SMALL> <SMALL>THE</SMALL> <SMALL>TAX</SMALL> <SMALL>YEAR</SMALL> <SMALL>ENDED</SMALL> D<SMALL>ECEMBER</SMALL>&nbsp;31, 2007. </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Mr.&nbsp;Bledel informed the Shareholders that members of the Statutory Audit Committee, partners of the firm Biscardi&nbsp;&amp; Asociados S.R.L. had received as fees for the tax year ended December&nbsp;31, 2007, a
total amount of ARS 20,429.25 (Twenty thousand, four hundred and twenty-nine Argentine pesos and 25/100). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Gotardo Pedemonte who took the floor,
moved that the fees received by the Statutory Auditors for the year ended December&nbsp;31, 2007 be approved and hence the sixth item of the Agenda be also approved. </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">6 </FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This motion was submitted to vote, and approved by a majority of votes. The results of the voting were as follows:
410,703,173 positive votes, that is, 99.9965&nbsp;% of capital present; 0.0035&nbsp;% negative votes, and 40,062 abstentions from voting, that is, 0.0098&nbsp;% of capital present. </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>7.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>N<SMALL>UMBER</SMALL> <SMALL>OF</SMALL> <SMALL>MEMBERS</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> B<SMALL>OARD</SMALL> <SMALL>OF</SMALL> D<SMALL>IRECTORS</SMALL>
<SMALL>AND</SMALL> <SMALL>ELECTION</SMALL> <SMALL>OF</SMALL> <SMALL>ANY</SMALL> <SMALL>DIRECTORS</SMALL>, <SMALL>IF</SMALL> <SMALL>APPROPRIATE</SMALL> <SMALL>FOR</SMALL> <SMALL>A</SMALL> <SMALL>TERM</SMALL> <SMALL>OF</SMALL> <SMALL>THREE</SMALL>
<SMALL>YEARS</SMALL> </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Prior to discussing Item&nbsp;7 of the Agenda, Mr.&nbsp;Bledel reminded the Shareholders that Section&nbsp;10 of
the Banco Franc&eacute;s Bylaws states that the Board of Directors may have a minimum of three Directors and a maximum of nine. This Section also states that the term of office of the Board Members is three years and they may be re-elected, and that
their term of office shall be deemed extended until their replacements are appointed by the Shareholders&#146; Meeting. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">In connection with the current
composition of the Banco Frances&#146; Board of Directors, the Chairman announced that the BOD currently includes five regular directors and two alternate directors whose mandates are currently valid. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Bledel also pointed out that the appointment of Directors to the Board must be in full compliance with the current rules of Transparency, by taking into
consideration that the Statutory Audit Committee organized and approved by the corporation at the BOD meeting held on May, 21, 2004 in accordance with Executive Order 677/01 and the Argentine Securities Commission Resolution 400/02, shall include
three directors. Most of these shall be &#145;independent&#146; according to the above regulations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">All corporations that have their shares listed on the
NYSE (New York Stock Exchange), for instance Banco Franc&eacute;s, shall adjust their business operations and corporate organization to domestic regulations and also to the NYSE rules and regulations and those of the Sarbanes Oxley Act. In
accordance with Section&nbsp;303 A </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<FONT FACE="Times New Roman" SIZE="2">of the NYSE Handbook of Regulations, as from the month of July of 2005 all members of the Statutory Audit Committee of corporations which list their shares
on the NYSE shall be independent pursuant to criteria approved by the NYSE. Therefore, all directors appointed must be independent pursuant to local and foreign regulations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Mr.&nbsp;Gotardo Pedemonte took the floor and proposed to increase the number of directors of the Company by organizing a BOD with 7 regular directors and 2 alternate directors, as follows: </FONT></P> <P
STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">1. Organize a BOD with 7 regular directors and 2 alternate directors. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">2.
Appoint Mr.&nbsp;Jes&uacute;s Gonzalvo Lozano as regular director, who has the status of independent director required by foreign regulations and the status of non independent director for local regulations. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">3. Appoint Mr.&nbsp;Luis Bernardo Juango Fitero as regular director, who has the status of independent director required by foreign regulations and the status of non
independent director for domestic regulations. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This motion was submitted to vote and approved by a majority. The results of the voting were as follows:
410,715,815 positive votes, that is, 99.9977&nbsp;% of capital present; 9,552 negative votes, that is, 0.0023&nbsp;% of capital present, and 32,316 abstentions from voting, that is, 0.0079% of capital present. </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>8.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>E<SMALL>LECTION</SMALL> <SMALL>OF</SMALL> <SMALL>THREE</SMALL> R<SMALL>EGULAR</SMALL> <SMALL>STATUTORY</SMALL> <SMALL>AUDITORS</SMALL> <SMALL>AND</SMALL> <SMALL>THREE</SMALL>
A<SMALL>LTERNATE</SMALL> <SMALL>STATUTORY</SMALL> <SMALL>AUDITORS</SMALL> <SMALL>FOR</SMALL> <SMALL>THIS</SMALL> <SMALL>YEAR</SMALL>&#146;<SMALL>S</SMALL> S<SMALL>TATUTORY</SMALL> A<SMALL>UDIT</SMALL> C<SMALL>OMMITTEE</SMALL>
</B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Jorge Carlos Bledel stated that it was pertinent to proceed with the election of three regular statutory auditors and three
alternate statutory auditors, pursuant to Section&nbsp;284 of the Business Associations Law. Afterwards, he clarified that, according to Section&nbsp;285 of the abovementioned law, the requirements for a Statutory auditor are: to be an attorney or
certified public accountant with an </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<FONT FACE="Times New Roman" SIZE="2">official license and to be a resident of Argentina. In accordance with BCRA&#146;s Communication &#147;A&#148; 2106 dated June&nbsp;24, 1993, the Secretary
read pertinent paragraphs of Section&nbsp;10 of Law No.&nbsp;21526: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">&#147;The following individuals may not serve as promoters, founders, directors,
administrators, members of the Statutory Audit Committees, statutory auditors, trustees in bankruptcy, liquidators or managers of the companies included under this law: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">(a) Individuals who are disqualified or incompatible pursuant to Section&nbsp;264 of Law No.&nbsp;19550; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(b) Individuals
who are disqualified and ineligible to open checking accounts; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(c) Financial entities delinquent debtors; </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(d) Individuals ineligible to take on any public duties, or duties of similar nature, up to three years after said ineligibility had been declared; </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(e) Individuals ineligible pursuant to the terms of Subsection 5), Section&nbsp;41 of the Financial Entities Law, while it such ineligibility is enforced, and
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(f) Any individuals who had been declared responsible for irregularities in the management and administration of financial entities by a competent
authority&#148;. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Bledel also pointed out that according to Section&nbsp;286 of Law No.&nbsp;19550, the following individuals were not qualified
for the position of statutory auditors at financial entities: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(1) Individuals who are not qualified to act as directors pursuant to Section&nbsp;264;
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(2) Directors, managers and/or employees of the same corporation or of another parent company &amp;/or subsidiary; </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">9 </FONT></P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">(3) Spouses, relatives (by blood) per stirpes, relatives with indirect blood relationship (in laws) up to and including
the fourth generation, and relatives with a relationship that arises as a result of legal ties through the second generation for directors and general managers. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">Mr.&nbsp;Zapiola, representative of the shareholder &#145;Banco Bilbao Vizcaya Argentaria S.A.&#146; took the floor and moved that the following be elected as statutory auditors for a period of one year, i.e. up to December&nbsp;31, 2008:
</FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>M<SMALL>ARIO</SMALL> R<SMALL>AFAEL</SMALL> B<SMALL>ISCARDI</SMALL>, A<SMALL>LEJANDRO</SMALL> M<SMALL>OSQUERA</SMALL> <SMALL>AND</SMALL>
M<SMALL>ARCELINO</SMALL> A<SMALL>GUST&Iacute;N</SMALL> C<SMALL>ORNEJO</SMALL>, </B>as regular statutory auditors; and </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2"><B>J<SMALL>ULIETA</SMALL>
P<SMALL>AULA</SMALL> P<SMALL>ARISO</SMALL>, C<SMALL>AROLINA</SMALL> V<SMALL>ER&Oacute;NICA</SMALL> B<SMALL>OUZAS</SMALL> <SMALL>AND</SMALL> J<SMALL>UAN</SMALL> M<SMALL>ANUEL</SMALL> M<SMALL>INGHINI</SMALL>, </B>as alternate statutory auditors.
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Zapiola reported that the proposed statutory auditors: (a)&nbsp;are members of the firm BISCARDI&nbsp;&amp; ASOCIADOS S.R.L. and that all of them
are independent auditors pursuant to the terms of the Argentine Securities Commission regulations; and (b)&nbsp;have submitted the information required in time (as requested by the abovementioned regulation) in connection with their professional
relationship with the Bank. Said letter is at the Secretariat&#146;s office at the disposal of all Shareholders who are interested. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Additionally,
Mr.&nbsp;Zapiola moved that the appointment of Statutory Auditor Committee members be made expressly authorizing the Statutory Auditors to participate in audit committees of other corporations (pursuant to Sections 298 and 273 of the Business
Associations Law). However, these Statutory Auditors shall strictly comply with the confidentiality provisions enforced by the Bank&#146;s bylaws and corporate purposes. </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">10 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Zapiola&#146;s motion was approved by a majority of votes, as follows: 410,712,461 positive votes, that is,
99,9956&nbsp;% of capital present; 18,246 negative votes, that is, 0.0044 %; and 26,976 abstentions from voting, that is, 0.0066&nbsp;% of capital present. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>9.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>F<SMALL>EES</SMALL> <SMALL>FOR</SMALL> <SMALL>ACCOUNTANT</SMALL> R<SMALL>EPORTING</SMALL> <SMALL>ON</SMALL> <SMALL>FINANCIAL</SMALL> <SMALL>STATEMENTS</SMALL> <SMALL>FOR</SMALL>
<SMALL>THE</SMALL> <SMALL>TAX</SMALL> <SMALL>YEAR</SMALL> <SMALL>NO</SMALL>. 133 <SMALL>ENDED</SMALL> D<SMALL>ECEMBER</SMALL>&nbsp;31, 2007. </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">The Chairman reported that the BOD made a proposal which included a fee for the accountant who reported on a revision of the quarterly and yearly financial statements for the year ended December&nbsp;31, 2007. This fee amounts to ONE
MILLION, EIGHT HUNDRED AND FORTY-THREE THOUSAND THREE HUNDRED AND SEVENTY-FIVE ARGENTINE PESOS (ARS $1,843,375) plus VAT. This amount included the limited revision reports (for the quarterly financial statements) and the yearly audit report (for the
yearly financial statements). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Juan Duggan took the floor and moved for the approval of the BOD proposal, as explained above. The motion was
submitted to vote, and was approved by a majority of votes, as follows: 410,715,242 positive votes, that is, 99.9976&nbsp;% of capital present; 9,666 negative votes, that is, 0.0024%; and 32,775 abstentions from voting, that is, 0.0080&nbsp;% of
capital present. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>10.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>A<SMALL>PPOINTMENT</SMALL> <SMALL>OF</SMALL> A<SMALL>CCOUNTANT</SMALL> <SMALL>FOR</SMALL> <SMALL>THE</SMALL> C<SMALL>URRENT</SMALL> T<SMALL>AX</SMALL>
Y<SMALL>EAR</SMALL>&#146;<SMALL>S</SMALL> F<SMALL>INANCIAL</SMALL> S<SMALL>TATEMENTS</SMALL> </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The Chairman informed that the BOD proposed
that the firm ESTUDIO D<SMALL>ELOITTE</SMALL>&nbsp;&amp; C<SMALL>O</SMALL>. S.R.L. be appointed as auditors for the 2008 financial statements. One of the firm&#146;s partners, Mr.&nbsp;PABLO FRANCISCO TONINA, had timely submitted all due information
and the affidavit required by Executive Order 677/2001 (Section 12) and the Argentine Securities Commission (Chapter III, Sections 19 and 20) regulations. The pertinent affidavit was filed with the Argentine Securities </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">11 </FONT></P>


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<FONT FACE="Times New Roman" SIZE="2">Commission and the Buenos Aires Stock Exchange (<I>Bolsa de Comercio de Buenos Aires</I>). The relevant publication was made on March&nbsp;4, 2008 in the
daily Gazette of the Buenos Aires Stock Exchange. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Juan Duggan took the floor and moved for the approval of the BOD proposal, as explained above.
The motion was submitted to vote, and was approved by a majority of votes, as follows: 410,725,610 positive votes, that is, 99.9986&nbsp;% of capital present; 5,610 negative votes, that is, 0.0014%; and 23,463 abstentions from voting, that is,
0.0064&nbsp;% of capital present. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>11.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>B<SMALL>UDGET</SMALL> A<SMALL>LLOCATION</SMALL> <SMALL>TO</SMALL> A<SMALL>UDIT</SMALL> C<SMALL>OMMITTEE</SMALL> <SMALL>FOR</SMALL> P<SMALL>ROFESSIONAL</SMALL>
A<SMALL>DVICE</SMALL> </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Jorge Carlos Bledel reported that pursuant to the terms of Executive Order 677/2001 (Section 15) and to
the Argentine Securities Commission (Chapter III) regulations, the corporation has organized an internal Audit Committee (a committee with several members). This Committee has the authority provided by Section&nbsp;15 of Executive Order 677/01 and
fulfils all the tasks envisioned in said regulations. The Committee may request the assistance of attorneys-at-law and other independent professionals and may retain their services which shall be paid by the corporation. For this purpose, a budget
shall be approved at the shareholders&#146; meeting. Mr.&nbsp;Bledel moved that the Shareholders proceed with the approval of the budget allocation for the Audit Committee and Mr.&nbsp;Zapiola moved that an amount of ARS 150,000 be allocated as the
Audit Committee&#146;s budget. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The proposal was submitted to vote and was approved by a majority, as follows: 410,700,617 positive votes, i.e.
99.9952&nbsp;% of capital present, 19,566 negative votes, that is, 0.0048&nbsp;% of capital present, and 37,500 abstentions from voting, that is, 0.0091&nbsp;% of capital present. </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">12 </FONT></P>


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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>12.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>E<SMALL>XTENSION</SMALL> (1)&nbsp;<SMALL>FOR</SMALL> 5 (<SMALL>FIVE</SMALL>) <SMALL>YEARS</SMALL> <SMALL>OF</SMALL> <SMALL>THE</SMALL> &#145;P<SMALL>ROGRAMA</SMALL>
G<SMALL>LOBAL</SMALL> <SMALL>DE</SMALL> E<SMALL>MISI&Oacute;N</SMALL> <SMALL>DE</SMALL> O<SMALL>BLIGACIONES</SMALL> N<SMALL>EGOCIABLES</SMALL> <SMALL>DE</SMALL> BBVA B<SMALL>ANCO</SMALL> F<SMALL>RANC&Eacute;S</SMALL> S.A.&#146;
</B><B><I>[G<SMALL>LOBAL</SMALL> C<SMALL>ORPORATE</SMALL> B<SMALL>ONDS</SMALL> P<SMALL>ROGRAM</SMALL> I<SMALL>SSUANCE</SMALL>]</I></B><B> <SMALL>FOR</SMALL> <SMALL>AN</SMALL> <SMALL>AMOUNT</SMALL> <SMALL>OF</SMALL> <SMALL>UP</SMALL>
<SMALL>TO</SMALL> T<SMALL>HREE</SMALL> M<SMALL>ILLION</SMALL> U.S D<SMALL>OLLARS</SMALL> (US$ 300,000,000), A<SMALL>UTHORIZED</SMALL> <SMALL>AT</SMALL> <SMALL>THE</SMALL> S<SMALL>PECIAL</SMALL> S<SMALL>HAREHOLDERS</SMALL>&#146;
M<SMALL>EETING</SMALL> <SMALL>HELD</SMALL> <SMALL>ON</SMALL> J<SMALL>ULY</SMALL>&nbsp;15, 2003 <SMALL>AND</SMALL> <SMALL>ALSO</SMALL> <SMALL>BY</SMALL> <SMALL>THE</SMALL> A<SMALL>RGENTINE</SMALL> S<SMALL>ECURITIES</SMALL> C<SMALL>OMMISSION</SMALL>
<SMALL>THROUGH</SMALL> R<SMALL>ESOLUTION</SMALL> N<SMALL>O</SMALL>.&nbsp;14967 <SMALL>DATED</SMALL> N<SMALL>OVEMBER</SMALL>&nbsp;29, 2004, A<SMALL>ND</SMALL> M<SMALL>ODIFIED</SMALL> <SMALL>BY</SMALL> <SMALL>THE</SMALL> G<SMALL>ENERAL</SMALL>
S<SMALL>HAREHOLDERS</SMALL>&#146; M<SMALL>EETING</SMALL> <SMALL>HELD</SMALL> <SMALL>ON</SMALL> A<SMALL>PRIL</SMALL>&nbsp;26, 2007, <SMALL>AND</SMALL> (II) E<SMALL>XTENSION</SMALL> <SMALL>FOR</SMALL> 2 (<SMALL>TWO</SMALL>) <SMALL>YEARS</SMALL>
<SMALL>OF</SMALL> <SMALL>THE</SMALL> P<SMALL>OWERS</SMALL> <SMALL>OF</SMALL> D<SMALL>ELEGATION</SMALL> <SMALL>ON</SMALL>, <SMALL>AND</SMALL> S<SMALL>UB</SMALL>-<SMALL>DELEGATION</SMALL> <SMALL>OF</SMALL>, <SMALL>THE</SMALL> A<SMALL>UTHORITY</SMALL>
<SMALL>OF</SMALL> <SMALL>THE</SMALL> B<SMALL>OARD</SMALL> <SMALL>OF</SMALL> D<SMALL>IRECTORS</SMALL> P<SMALL>URSUANT</SMALL> <SMALL>TO</SMALL> A<SMALL>PPLICABLE</SMALL> L<SMALL>AWS</SMALL> <SMALL>AS</SMALL> A<SMALL>PPROVED</SMALL> <SMALL>BY</SMALL>
<SMALL>THE</SMALL> G<SMALL>ENERAL</SMALL> S<SMALL>HAREHOLDERS</SMALL>&#146; M<SMALL>EETING</SMALL> <SMALL>HELD</SMALL> <SMALL>ON</SMALL> A<SMALL>PRIL</SMALL>&nbsp;26, 2007. </B></FONT></TD></TR></TABLE> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Mr.&nbsp;Javier Zapiola, having taken the floor, moved to approve both extensions, as mentioned above. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Mr.&nbsp;Zapiola&#146;s motion was submitted to vote and approved by a majority of votes, as follows: 410,679,575 positive votes, i.e. 99.9892&nbsp;% of capital present; 44,262 negative votes, i.e. 0.0108&nbsp;% of
capital present, and 33,846 abstentions from voting, that is, 0.0082% of capital present. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">There being no further business to discuss, the Meeting was
adjourned at 5:30 p.m. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Jorge C. Bledel</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
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<TD VALIGN="bottom" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Chairman</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Juan Patricio Duggan</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Gotardo Pedemonte</FONT></TD></TR>
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<TD VALIGN="bottom" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Voting Inspectors</B></FONT></TD>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Juan Patricio Duggan</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Gotardo Pedemonte</FONT></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="bottom" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Shareholders&#146; Representatives</B></FONT></TD>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>For Statutory Audit Committee:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Mario Biscardi</FONT></TD>
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<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Alejandro Mosquera</FONT></TD></TR>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">SIGNATURES </FONT></P> <P STYLE="margin-top:12px;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="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>BBVA Banco Franc&eacute;s S.A.</B></FONT></TD></TR>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Date: April 16, 2008</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><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:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Mart&iacute;n E. Zarich</FONT></P></TD></TR>
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<TD VALIGN="bottom"><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">Mart&iacute;n E. Zarich</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Title:</FONT></TD>
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<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
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