Conformed Copy - L3954 - Power Market Development Project - Supplemental Letter 1

Page 1 March 26, 1996 International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C., 20433 United States of America Re: Loan No. 3954-CO (Currency Pool) Loan No. 3955-CO (Floating Rate Single Currency) Section 3.01 (b) of each of the Loan Agreements (Power Market Development Project) This is in connection with each of the Loan Agreements of even date herewith for the above Project, and, particularly, with Section 3.01 (b) thereof. Please find attached hereto the action plan for the carrying out of Parts A and B of the Project which we understand is acceptable to you. If so, please countersign this letter. Sincerely yours, INTERCONEXION ELECTRICA S.A. "E.S.P." (ISA) By /s/ __________________________________ Authorized Representative AGREED AND CONFIRMED: INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By /s/ ___________________________ Acting Vice President Latin America and the Caribbean Region Date: __________________________