Exhibit
4.2

      


      SOFTWARE
LICENSE CONTRACT BETWEEN BBVA PENSIONES CHILE S.A. AND 

      ADMINISTRADORA
DE FONDOS DE PENSIONES PROVIDA S.A

      


       

      In
Santiago, on December 1, 2005

       

      
        	
                I.

              	
                BBVA
      PENSIONES CHILE S.A. (hereinafter called the “Grantor”), a company
      incorporated according to Chilean laws, with legal residence at 100, Pedro
      de Valdivia Ave., Providencia, Santiago, Chile, Tax Identification (RUT)
      No. 96,757,820-7, APPEARS AS PARTY OF THE FIRST
  PART.

              


      

       

      The
Grantor is represented by Mr. Gustavo Alcalde Lemarie, Chilean, married,
business administrator, legally of age, bearer of Chilean national identity card
No. 5,894,308-8, and for the purposes hereof, the same legal address as the
company he represents.

       

      
        	
                II.

              	
                ADMINISTRADORA
      DE FONDOS DE PENSIONES PROVIDA S.A. (hereinafter called the “Licensee”), a company
      incorporated according to Chilean laws, with legal residence at 100, Pedro
      de Valdivia Ave., 16th
      Floor, Providencia, Santiago, Chile, Tax Identification (RUT)
      No. 98,000,400-7,  APPEARS AS PARTY OF THE SECOND
      PART.

              


      

       

      The
Licensee is represented by Messrs. Jorge Matuk Chijner, Peruvian, married,
business administrator, bearer of Chilean foreign identity card
No. 21,828,473-6, and Andrés Veszprémy Schilling, Chilean, married, lawyer,
bearer of Chilean national identity card No. 8,881,705-2, both legally of
age and domiciled for the purposes hereof as the company they
represent.

       

      The
appearing representatives in turn state that their respective powers have not
been revoked, suspended or restricted, and that the acting capacity of their
respective represented companies has not changed. Thus, acknowledging their
sufficient capacity to enter into this agreement, they state the
following:

       

      WHEREAS:

       

      
        	
                I.

              	
                The
      Grantor owns the Intellectual Property Rights on the software described in
      Appendix 1
      (hereinafter the “Software”). For the
      purposes hereof, “Intellectual Property
      Rights” shall be construed as ownership or trade-related aspects
      regarding exploitation of the Software, its modifications and
      customizations, as well as directives for using or running the Software
      (hereinafter called the “Usage
      Manual”).

              


      

       

      
        	
                II.

              	
                The
      Licensee is interested in obtaining a license over the foregoing Software
      Intellectual Property Rights, including the right to modify and customize
      it to local technical requirements, in order to process information
      according to its operational, business and legal compliance
      needs.

              


      

       

      THEREFORE, both parties concur
in entering into this software license contract (hereinafter called the “Contract”), whereby they
assent to the following terms and conditions:

       

      
        	
                1.

              	
                LICENSCE OBJECTIVE AND
      TYPE

              


      

       

      
        	
                1.1

              	
                Objective:
      The Grantor hereby grants the license or right to use the Software and its
      Usage Manual to the Licensee, who in turn accepts it, for application on
      its computer systems and with the sole purpose described in the foregoing
      Recital II (hereinafter called the “License”).

              


      

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

       

      Except
for the rights expressly excluded in the following Sub-clause 1.2, the
License comprises of assignment to the Licensee of all Intellectual Property
Rights on the Software and its Usage Manual, including:

       

      
        	
                 
      

              	
                (i)

              	
                The
      right to fully or partially copy the source codes or programs, by any
      means and in any manner, whether provisionally or permanently, including
      load, presentation, run, transmission and/or storage thereof, making as
      many backup copies as deemed necessary, and partially or totally
      decompiling the Software, and

              


      

       

      
        	
                 
      

              	
                (ii)

              	
                Translating,
      adapting, arranging or in any way transforming the foregoing programs,
      copying the results of such actions, including the right to make technical
      customizations to meet local needs or
  requirements.

              


      

       

      The
Licensee may use or in any way exploit any Intellectual Property Right
hereunder, whether directly or through subcontracted third parties, including
outsourcing, to the extent needed for the provision of such services to the
Licensee.

       

      
        	
                1.2

              	
                Type:
      The License is non-exclusive and valid anywhere in the world, with the
      Licensee not being entitled to grant third parties the Software use,
      sublicenses or authorizations, whether exclusive or not, without the
      written consent of the Grantor.

              


      

       

      
        	
                1.3

              	
                Evolutionary
      Developments: The Grantor does not undertake any obligations to
      produce new or enhanced Software versions. If it did, it shall be through
      its AFP (Pension-Fund Administrator) Maintenance Center (“CMA”), which
      shall be responsible for both evolutionary/regulatory development and
      corrective maintenance.

              


      

       

      In this
case and whenever the Grantor has new or enhanced Software versions, no new
license shall be necessary and any such versions shall be automatically
comprised herein. In the latter case, the Licensee must pay to the CMA the new
development price, equivalent to actual man/hour unit-rate costs in
dollars.

       

      The
Software corrective maintenance shall be governed by the provisions of a
separate document executed by the parties.

       

      
        	
                2.

              	
                INSTALLATION AND
      DELIVERY OF USAGE MANUAL

              


      

       

      
        	
                2.1

              	
                Installation:
      The Grantor commits to install the Software in the equipment specified by
      the Licensee. The installation shall be deemed complete when the Software
      can be correctly used in the Licensee’s computer systems for the purposes
      stated herein.

              


      

       

      Any
developments required to adapt or install the Software in the Licensee’s systems
shall be deemed comprised in the price specified in Clause 4 hereof, but
any transportation expenses of the Grant or, its personnel or that of service
providers to the Licensee’s premises to perform such installation shall be
invoiced separately.

       

      Upon
completion of the installation, the parties shall sign off a document of
acceptance by the Licensee.

       

      
        	
                2.2

              	
                Usage
      Manual: The Grantor shall deliver soft copies of the Usage Manual
      to the Licensee upon installation completion. The following contents shall
      be included in the Usage Manual, as a
minimum:

              


      

       

      
        	
                 
      

              	
                (i)

              	
                Source
      codes, the modification right of which is licensed
  herein;

              


      

       

      
        	
                 
      

              	
                (ii)

              	
                Functional
      design of the various Software
modules;

              


      

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      
        	
                 
      

              	
                (iii)

              	
                User
      manual of the various Software
modules;

              


      

       

      
        	
                 
      

              	
                (iv)

              	
                Operation
      manual of the Software;

              


      

       

      
        	
                 
      

              	
                (v)

              	
                Data
      model (general and detailed), and

              


      

       

      
        	
                 
      

              	
                (vi)

              	
                Component
      details (tables, folders, etc.).

              


      

       

      
        	
                3.

              	
                EFFECTIVE
      TERM

              


      

       

      The
License hereunder is indefinitely granted, and if a term was mandatory, then for
as long as legally permitted.

       

      Notwithstanding,
this Contract shall be terminated, hence the License revoked, in the following
cases:

       

      
        	
                 
      

              	
                (i)

              	
                By
      the Licensee at any time giving prior reliable notice to the other party
      of its decision to terminate the Contract at least twelve (12) months
      in advance of the effective termination date, without any compensation
      right vested for any of the
parties.

              


      

       

      
        	
                 
      

              	
                (ii)

              	
                By
      the Grantor if the Licensee separated from the group of companies led by
      Banco Bilbao Vizcaya Argentaria, S.A., or of which the latter is a member.
      For the purposes hereof, the Grantor shall be deemed to be part of such
      group in any of the cases provided in Article 4th* of the Spanish Law on
      the Stock Market (LMV) No. 24/1988, enacted July 28, any amendments
      or replacing regulation thereof. In this case, the Contract shall be
      terminated by prior reliable notice of the Grantor to the Licensee,
      stating its decision to terminate the Contract effective upon twelve
      (12) months of such notice.

              


      

       

      In the
latter case, the Licensee may demand compensation from the Granter as provided
in Appendix II
hereof according to the Contract lapsed effective period, from execution to
termination, without any further compensation right vesting
thereto.

       

      Upon
termination hereof as provided herein, the Licensee shall abstain from using the
Software hereunder, delete any backup copies from its systems and return to the
Grantor the copies of the Usage Manual with any other Software documentation
that it may have at the time.

       

      
        	
                4.

              	
                PRICE, PAYMENT AND
      TAXES

              


      

       

      4.1           License
Price and Payment: As consideration for granting the license and all
other obligations herein undertaken by the Grantor (excluding the Software
installation), the Licensee shall pay the Grantor the amounts specified in Appendix III
hereof, as provided therein.

       

      4.2           Price of
New Versions (Evolutionary Development): If the CMA produced new or
improved Software versions, no new license shall be necessary and any such
versions shall be automatically comprised herein, as provided in
sub-clause 1.3.

       

      
        


        
          * Translation of Article 4th
of LMV 24/1988: For the purposes of this Law, a group of companies shall be
considered composed of organizations forming a decisional unit, namely one
thereof is, or may be, in direct or indirect control of the others, or such
control is in the hands of one or several individuals systematically acting in
agreement.

           

          In any
case, a decisional unit shall be construed in any of the scenarios provided in
Paragraph 1 of Article 42 of the Code of Mercantile Law, or when at least
half the Board members of the controlled organization are Board members or top
managers of the controlling one, or of another organization controlled by the
latter.

           

          For the
purposes of the foregoing provisions, the controlling organization shall add to
its rights those vested through other controlled organizations or through the
individuals acting on behalf of the controlling organization, or of other
controlled ones, or those jointly held with any other
individual.

        

      

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

       

       

      4.3           Taxes:
The Licensee shall bear all existing and future taxes hereunder. Consequently,
should any applicable law require encumbering, deducting or withholding any
amounts for tax purposes, the price to be paid by the Licensee shall be
increased accordingly, so that the amount received by the Grantor remains
exactly as provided in Appendix III
hereof.

       

      
        	
                5.

              	
                GUARANTEES

              


      

       

      
        	
                5.1

              	
                The
      Grantor expressly assures the
Licensee:

              


      

       

      
        	
                 
      

              	
                (i)

              	
                That
      it owns the Software Intellectual Property Rights, including source and
      executable programs thereof, and that no legal or contractual restriction
      exists under any jurisdiction preventing its full or partial transfer,
      assignment or any other arrangement as provided herein, nor any full or
      partial transfer, assignment or other arrangement of the source and
      executable programs that form the
Software;

              


      

       

      
        	
                 
      

              	
                (ii)

              	
                That
      the Intellectual Property Rights hereunder are free of any burden,
      encumbrance or charge;

              


      

       

      
        	
                 
      

              	
                (iii)

              	
                That
      the Software use provided herein does not infringe any legal provisions or
      third-party rights, nor is it in any way unfair competition,
      and

              


      

       

      
        	
                 
      

              	
                (iv)

              	
                That
      the Software features and services are suitable for the intended use
      thereof stated in Recital II.

              


      

       

      The
foregoing guarantees solely relate to the Software licensed by the Grantor at
this time, and therefore, shall not extend to any modifications or alterations
performed by the Licensee.

       

      
        	
                5.2

              	
                The
      Grantor commits to compensate the Licensee for any loss or damage
      resulting from any infringement of the guarantees provided in the
      foregoing sub-clause, number 5.1, including all expenses and costs
      paid by the Licensee to the Grantor or disbursed defending any third-party
      claim (for instance: expert studies, legal counsel fees, court expenses,
      etc.).

              


      

       

      
        	
                5.3

              	
                The
      Grantor promises to cooperate with the Licensee in defending its interests
      should any third party, judicial or government authority start any
      proceedings against the latter, as a result of an infringement of the
      guarantees herein. In any case, the Licensee shall decide, at its sole
      discretion, whether to comply with the claim or oppose it, acting
      therefore in good faith.

              


      

       

      
        	
                6.

              	
                CONTRACT
      ADMINISTRATION

              


      

       

      The
parties appoint the following liaison persons to resolve any matter regarding
the licensed Software installation or operation:

       

      
        	
                 
      

              	
                (i)

              	
                For
      the Grantor:

              
	 	 	Francisco
      Leyva


      

       

      
        	
                 
      

              	
                (ii)

              	
                For
      the Beneficiary:

              
	 	 	Juan
      Carlos Reyes Madriaza


      

       

      
        	
                7.

              	
                CONFIDENTIALITY

              


      

       

      Any
information furnished to one party by the other shall be considered
confidential, regardless of the support media and whether it relates to the
Software or hereto. Any public domain information as of the date hereof is
excluded.

       

      Neither
party may disclose such information to any third party without consent from the
other party, unless such disclosure is (i) essential to abide by law or
(ii) required by a judicial or government authority.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      
        	
                8.

              	
                MISCELLANEOUS

              


      

       

      
        	
                8.1

              	
                Representations
      and Guarantees of the Parties: Each party states and assures the
      other:

              


      

       

      
        	
                 
      

              	
                (i)

              	
                That
      it is duly incorporated society according to its national laws, legally
      capable of granting this License and fulfilling this Contract, as well as
      of exercising the rights and meeting the obligations hereunder, and that
      it has completed all processing and met all the requirements needed for
      the grant and fulfillment hereof;

              


      

       

      
        	
                 
      

              	
                (ii)

              	
                That
      the grant and fulfillment hereof does not infringe any current legal
      provision, their by-laws, nor any other agreement or commitment entered or
      undertaken by each party;

              


      

       

      
        	
                 
      

              	
                (iii)

              	
                That
      the individuals executing this Contract are legally empowered and mandated
      to bind the party that they respectively represent,
  and

              


      

       

      
        	
                 
      

              	
                (iv)

              	
                That
      the obligations undertaken by each party herein are fully effective,
      binding and enforceable, without requiring any further authorizations,
      approvals, formalities, records or registrations by anyone or any
      authority.

              


      

       

      
        	
                8.2

              	
                Sole
      Document: All the Grantor’s and Licensee’s rights and obligations
      are contained in this Contract and its appendices, which jointly form only
      one regulating document between both parties that replaces and revokes any
      previous agreement or document regarding the Software
    License.

              


      

       

      
        	
                8.3

              	
                Partial
      Nullity: Should any provision herein be declared null, the
      remaining ones shall prevail in their own terms. If the nullity involved
      an essential part hereof, the parties shall negotiate to find a reasonable
      good-faith solution always considering the spirit hereof and the purpose
      of the cancelled provision.

              


      

       

      
        	
                8.4

              	
                No
      Other Beneficiaries: Unless otherwise expressly stated herein, no
      provision hereof may be construed as granting any rights or resorts to any
      non-party, except for legal successors of each
  party.

              


      

       

      
        	
                8.5

              	
                Independence:
      This Contract is not intended to establish any mandate or entrustment
      relationship of any kind between the parties. None thereof shall be
      considered as representative of the
other.

              


      

       

      
        	
                8.6

              	
                Assignment:
      The Grantor may fully or partially assign this Contract to an organization
      member of the group of companies led by Banco Bilbao Vizcaya Argentaria,
      S.A., or of which the latter is a member, pursuant to Clause 3
      hereof, by simply giving written notice to the
  Licensee.

              


      

       

      On the
other hand, the Licensee may not partly or fully assign this Contract to any
third party, whether a member of the group of companies led by Banco Bilbao
Vizcaya Argentaria, S.A. or not, without the prior express and reliably given
consent of the Grantor.

       

      
        	
                8.7

              	
                Breach:
      Each party shall be liable for compensating the other for any direct loss
      or damage resulting from any breach hereof. Indirect damages, loss of
      profit and non-pecuniary loss are not
  compensable.

              


      

       

      
        	
                9.

              	
                COMMUNICATIONS

              


      

       

      
        	
                9.1

              	
                All
      requests, notifications, notices and generally any communications between
      the parties hereto shall be deemed duly given when transmitted by fax and
      addressed to their respectively specified addresses and numbers, without
      prejudice to the subsequent ratification by letters signed by authorized
      individuals with regard to the communications themselves or acknowledging
      receipt thereof.

              


      

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

       

      Original
faxed documents showing receipt at the corresponding fax numbers are sufficient
proof of notice.

       

      
        	
                9.2

              	
                The
      following are the parties’ respective addresses, telephone and fax
      numbers:

              


      

       

      BBVA
PENSIONES CHILE

      Av. Pedro
de Valdivia 100, Providencia, Santiago, Chile

      Phone:
(56-2) 351-1200

      Fax:
(56-2) 351-1993

       

      A.F.P.
PROVIDA S.A.

      Av. Pedro
de Valdivia 100, Piso 16, Providencia, Santiago, Chile

      Phone:
(56-2) 351-1201

      Fax:
(56-2) 351-1717

       

      Any
change of address, phone or fax number must be reliably notified in writing to
the other party.

       

      
        	
                10.

              	
                APPLICABLE LAW AND
      JURISDICTION

              


      

       

      
        	
                10.1

              	
                Applicable
      Law: This Contract shall be construed and fulfilled according to
      its own terms and conditions, and shall be governed by Chilean law, as
      applicable.

              


      

       

      
        	
                10.2

              	
                Jurisdiction:
      Any difficulty, doubt, issue or dispute that may arise between the parties
      regarding the application, interpretation, fulfillment, performance,
      effective period, termination, cancellation, nullity or validity hereof,
      or any other related matter, shall be submitted for consideration and
      resolution to a joint arbitrator, namely fact arbitrator for the
      proceedings, whose ruling in law abidance may be ordinarily and
      extraordinarily appealed, including
complaints.

              


      

       

      The
arbitrator shall be appointed by mutual agreement of the parties, failing which,
the Santiago Courts of Record shall appoint an individual having taught Civil or
Commercial Law at the University of Chile or Chilean Catholic University for at
least five years.

       

      In
acceptance of the foregoing, the parties execute this agreement in duplicate, on
the date and in the place stated in the preamble hereof.

       

      
        
          
            	 	
                    BBVA
      PENSIONES CHILE S.A.

                  	 	
                    ADMINISTRADORA
      DE 

                    FONDOS
      DE PENSIONES 

                    PROVIDA
      S.A.

                  
	 	 
      	 	 
      
	 	
                    Gustavo
      Alcalde Lemarie

                  	 	
                    Jorge
      Matuk Chijner

                  
	 	 
      	 	
                     Andrés
      Veszpremy Schilling

                  


          



      

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      


       

      APPENDIX I

       

      DESCRIPTION OF THE LICENSED
SOFTWARE

       

       

      
 

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

       

      APPENDIX II

       

      COMPENSATIONS IN CASE OF
AGREEMENT TERMINATION BY THE GRANTOR FOR THE LICENSEE SEPARATION FROM THE BBVA
GROUP

       

      If the
Licensee were separated from the group of companies led by Banco Bilbao Vizcaya
Argentaria, S.A., of which the latter is a member, as provided in Clause 3
of the License Contract (the “Contract”), and the Grantor exercised its right to
terminate the Contract pursuant thereto, the Licensee shall be entitled to
compensation by the Grantor according to the number of effective years. The
following distinctions apply to compensation  for
termination:

       

      
        	
                 
      

              	
                1.

              	
                In
      case of termination during the first two years of the Contract effective
      date, including the twelve months upon separation from the BBVA Group:
      100% of the License Price shall be
compensated.

              


      

       

      
        	
                 
      

              	
                2.

              	
                In
      case of termination during the third year of the Contract effective date,
      including the twelve months upon separation from the BBVA Group: 80% of
      the License Price shall be
compensated.

              


      

       

      
        	
                 
      

              	
                3.

              	
                In
      case of termination during the fourth year of the Contract effective date,
      including the twelve months upon separation from the BBVA Group: 60% of
      the License Price shall be
compensated.

              


      

       

      
        	
                 
      

              	
                4.

              	
                In
      case of termination during the fifth year of the Contract effective date,
      including the twelve months upon separation from the BBVA Group: 40% of
      the License Price shall be
compensated.

              


      

       

      
        	
                 
      

              	
                5.

              	
                In
      case of termination during the sixth year of the Contract effective date,
      including the twelve months upon separation from the BBVA Group: 20% of
      the License Price shall be
compensated.

              


      

       

      
        	
                 
      

              	
                6.

              	
                In
      case of termination over six years after the Contract effective date,
      including the twelve months upon separation from the BBVA Group: there
      shall be no compensation.

              


      

       

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

      APPENDIX III

       

      PRICE PAYABLE BY THE
LICENSEE

       

      The Price
to be paid by the Licensee to the Grantor in the national currency, namely peso,
is equivalent of seven million, two-hundred and fifty-nine thousand Euros
(€ 7,259,000), after taxes. This amount shall be paid against receipt of
the pertinent invoice, to be issued during the month of December
2005.

       

       

      


      9