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New Developments 2000

August 14, 2000

EMTA Announces 2Q 2000 Debt Trading Volume at US$681 Billion.  

Russia's Finance Ministry Has Announced that it will Continue to Accept Letters of Transmittal in Connection with its Offer to Exchange Outstanding Prin and IAN Debt for New 10- and 30-Year Eurobond Debt Until Thursday, August 17, 2000, at 5:00 P.M. (London Time) in Order to Allow Creditors Additional Processing Time. The Exchange Offer is Still Expected to be Completed, as Previously Scheduled, on Friday, August 25, 2000.

EMTA Has Confirmed that Holders of More than 85% of Ecuador's Outstanding Brady Bonds and Eurobonds Have Accepted Ecuador's Proposal to Swap Such Debt for New 12- and 30-Year Eurobonds. The Bond Exchange is Expected to Close on August 23, 2000.

August 09, 2000

At the Request of EMTA and Certain Bondholders, the Republic of Ecuador Has Extended the Deadline for its Exchange Offer of New Eurobond Debt for Existing Brady and Eurobond Debt Until Friday, August 11, 2000 at 5:00 pm New York Time. The Results of the Offer are Still Expected to be Released on August 14, 2000 and the Closing is Still Foreseen for August 23, 2000. EMTA Had Requested the Extension in Order to Allow for Additional Processing Time.

WI Trades of Russia 2010 Bonds -- Important Clarification on the Delivery of Settlement Instructions into the Clearing Systems.

August 08, 2000

Draft EMTA Market Practice for Failed Trades of Russian IANs and Ecuador Bonds Distributed for Comment.
Please contact Aviva Werner with any comments ASAP since the Market Practice is expected to be finalized no later than August 11, 2000.

July 27, 2000

Bondholders Interested in Obtaining a Copy of the Ecuador Term Sheet are Advised to Contact Their Salesperson at Salomon Smith Barney or J.P. Morgan.

July 26, 2000

EMTA Recommends Market Practices for W/I Trading in 2010 Russian Eurobonds Pre- and Post-July 13, 2000.  

EMTA Announces Addition of "Key Industry Perspectives" Page to the EMTA Website.
The purpose of this page is to draw attention to the Emerging Markets debt industry, promote Emerging Markets investing in a general manner, and to offer industry viewpoints on important issues of common concern.