MURRAY, FRANK & SAILER LLP FILES CLASS ACTION ON BEHALF OF ARGENTINA BONDOLDERS

New York, NY, January 14, 2005 - Murray, Frank & Sailer LLP announces that it recently filed a class action lawsuit on behalf of all persons who owned bonds with an ISIN of XS0086333472 issued by the Republic of Argentina from the period December 23, 2001 to present and who have been injured by Argentina’s default.

Read the Complaint

Informativa Italiano

Furthermore, Murray, Frank is investigating possible claims on behalf of owners of Argentina bonds with the following ISINs or CUSIPS:

US040114AH34

US040114FC91

US040114GB00

US040114GF14

US040114GH79

US040114AW01

US040114AX83

XS0043120236

XS0043120582

XS0130278467

The complaint filed on behalf of persons who owned the XS0086333472 bonds alleges that the Republic of Argentina defaulted on approximately $88 billion of bonds the country issued and guaranteed from the period of 1998 to 2001.  In particular, on December 23, 2001, Argentina breached its express promise to pay principal and interest on its bonds when it declared a moratorium on the payment of all principal and interest. In so doing, Argentina defaulted on its bonds.  Since then Argentina has refused to pay and instead has tried to force bondholders to take a settlement.  As a result of Argentina’s default, thousands of Argentina bondholders have been injured.

Murray, Frank & Sailer LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.

If you own any of the bonds listed above and would like to discuss this action, this announcement, or your rights and interests, please contact plaintiff’s counsel Eric J. Belfi of Murray, Frank & Sailer LLP.