BANCO PATAGONIA S.A.
MINUTES OF BOARD MEETING No. 2555 (06.29.09):
A meeting of the Board of Directors of BANCO PATAGONIA S.A. was held on June 29, 2009 at the offices located at Tte Gral Juan D. Perón 500, City of Buenos Aires. The undersigned Directors were present at the meeting. Also present was Ms. María Soledad Sampayo Cau, CPA, on behalf of the Statutory Audit Committee. At 05.00 p.m. a quorum was present, and the President stated that the meeting, having been duly convened, was ready to proceed with business and discuss several aspects related to the Company's activities. Extensive discussion ensued on various matters and the following Agenda was discussed:
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ITEM No. 26: MUTUAL INVESTMENT FUNDS:
26.01.: LOMBARD ASIA F.C.I. AND LOMBARD EUROPA F.C.I.- CANCELLATION: The President informed that the Manager Company reported that on 05.26.09 the last holders of shares in LOMBARD ASIA F.C.I. and LOMBARD EUROPA F.C.I. (in which this Bank had been appointed as Depository Company), were fully redeemed, thus having settled the Funds' shareholders’ equity. Therefore, after discussion of this situation with the Manager Company and given present market conditions, it was deemed convenient and necessary to request cancellation of such Funds to the National Securities Commission (CNV). A number of questions were asked and extensive discussion ensued, after which it was unanimously resolved as follows: 1) To approve cancellation of LOMBARD ASIA F.C.I. and LOMBARD EUROPA F.C.I. mutual funds;; 2) To request the CNV approval of the above-mentioned cancellation and deregistration of such funds from the CNV's Register; and 3) To authorize Messrs. Alejandro Oscar Pisani, Norberto Ricardo Corbalan and Mariana Beatriz Moldes, individually and irrespectively of the order in which they are mentioned herein, to take any necessary steps before the CNV for the purposes stated in item 2), with wide powers to sign applications and other documents to be filed, inspect the records, meet any requirements and perform other acts in order to obtain the relevant authorizations from the CNV. ------
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There being no further business to come before the meeting, the meeting was adjourned at 06.30 p.m.
Signatures: Jorge G. Stuart Milne, Ricardo A. Stuart Milne, Emilio C. Gonzalez Moreno, Alberto J. F. Croceri, Carlos Gonzalez Taboada, Carlos A. Giovanelli, María S. Sampayo Cau.------