Exhibit 4.7
 EXECUTION COPY




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TABLE OF CONTENTS
 PageARTICLE IDEFINITIONSSection 1.01. Certain Defined Terms
    
    
    1ARTICLE IIPURCHASE AND SALE OF THE SHARESSection 2.01. Purchase and Sale of the Shares
    
    
    1Section 2.02. Closing
    
    
    2Section 2.03. Purchase Price
    
    
    2Section 2.04. Payments at Closing
    
    
    2Section 2.05. Adjustment to Payment at Closing
    
    
    4Section 2.06. Closing Deliveries
    
    
    6Section 2.07. Payments and Computations
    
    
    8Section 2.08. Interest
    
    
    8ARTICLE IIIREPRESENTATIONS AND WARRANTIES OF THE PARENTSection 3.01. Incorporation and Authority of the Parent and the Seller
    
    
    8Section 3.02. Incorporation, Qualification and Authority of the Companies
    
    
    9Section 3.03. Capital Structure of the Companies; Ownership and Transfer of the Shares
    
    
    9Section 3.04. No Conflict
    
    
    10Section 3.05. Consents and Approvals
    
    
    11Section 3.06. Financial Information; Absence of Undisclosed Liabilities
    
    
    11Section 3.07. Absence of Certain Changes
    
    
    12Section 3.08. Litigation
    
    
    12Section 3.09. Compliance with Laws
    
    
    12Section 3.10. Governmental Permits
    
    
    13Section 3.11. Intellectual Property
    
    
    13Section 3.12. Material Contracts
    
    
    14Section 3.13. Employee Benefits; Employees
    
    
    14Section 3.14. Insurance
    
    
    17Section 3.15. Real Property; Assets
    
    
    17Section 3.16. Taxes
    
    
    18Section 3.17. Affiliate Transactions
    
    
    19Section 3.18. Brokers
    
    
    19Section 3.19. The Business of the Companies
    
    
    19Section 3.20. Books and Records
    
    
    20
  i




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PageSection 3.21. Company E&O Claims
    
    
    20Section 3.22. Disclaimer
    
    
    20ARTICLE IVREPRESENTATIONS AND WARRANTIES OF THE ACQUIRORSection 4.01. Incorporation and Authority of the Acquiror; Capitalization
    
    
    21Section 4.02. No Conflict
    
    
    22Section 4.03. Consents and Approvals
    
    
    22Section 4.04. Absence of Litigation
    
    
    23Section 4.05. Securities Matters
    
    
    23Section 4.06. Financial Ability
    
    
    23Section 4.07. Compliance with Law; Governmental Orders
    
    
    23Section 4.08. Investigation
    
    
    24Section 4.09. No Acquiror Material Adverse Effect
    
    
    25Section 4.10. Brokers
    
    
    25Section 4.11. Disclaimer
    
    
    25ARTICLE VADDITIONAL AGREEMENTSSection 5.01. Conduct of Business Prior to the Closing
    
    
    25Section 5.02. Access to Information
    
    
    29Section 5.03. Books and Records
    
    
    32Section 5.04. Confidentiality
    
    
    33Section 5.05. Regulatory and Other Authorizations; Best Efforts
    
    
    34Section 5.06. Insurance
    
    
    37Section 5.07. Intercompany Obligations and Arrangements
    
    
    38Section 5.08. Guarantees
    
    
    39Section 5.09. No Solicitation; No Hire
    
    
    39Section 5.10. Intellectual Property; Trade Names and Trademarks
    
    
    40Section 5.11. Mutual Release
    
    
    45Section 5.12. Certain Waivers
    
    
    46Section 5.13. Third Party Contracts
    
    
    47Section 5.14. Company E&O Claims
    
    
    48Section 5.15. Separation
    
    
    48Section 5.16. Further Action
    
    
    48Section 5.17. Transfer of Companies Minority Holder Shares
    
    
    48Section 5.18. Financial Ability
    
    
    48Section 5.19. Governmental Orders and Laws
    
    
    48Section 5.20. Notifications
    
    
    49Section 5.21. IT Outsourcing Agreement
    
    
    49Section 5.22. Disclaimer
    
    
    49
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PageARTICLE VIEMPLOYEE MATTERSSection 6.01. Employee Matters
    
    
    50ARTICLE VIITAX MATTERSSection 7.01. Liability for Transfer Taxes
    
    
    52ARTICLE VIIICONDITIONS TO CLOSINGSection 8.01. Conditions to Obligations of Each Party
    
    
    52Section 8.02. Conditions to Obligations of the Parent and the Seller
    
    
    52Section 8.03. Conditions to Obligations of the Acquiror
    
    
    53ARTICLE IXTERMINATIONSection 9.01. Termination
    
    
    54Section 9.02. Notice of Termination
    
    
    55Section 9.03. Effect of Termination
    
    
    55ARTICLE XINDEMNIFICATIONSection 10.01. Survival
    
    
    55Section 10.02. Indemnification by the Parent
    
    
    56Section 10.03. Indemnification by the Acquiror
    
    
    57Section 10.04. Notification of Claims
    
    
    57Section 10.05. Payment
    
    
    59Section 10.06. Exclusive Remedies
    
    
    59Section 10.07. Additional Indemnification Provisions
    
    
    60Section 10.08. Mitigation
    
    
    61Section 10.09. Effect of Knowledge
    
    
    61ARTICLE XIGENERAL PROVISIONSSection 11.01. Expenses
    
    
    61Section 11.02. Notices
    
    
    62
  iii




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PageSection 11.03. Public Announcements
    
    
    63Section 11.04. Severability
    
    
    63Section 11.05. Entire Agreement
    
    
    64Section 11.06. Assignment
    
    
    64Section 11.07. No Third Party Beneficiaries
    
    
    64Section 11.08. Amendment; Waiver
    
    
    64Section 11.09. Disclosure Schedules
    
    
    65Section 11.10. Governing Law
    
    
    65Section 11.11. Rules of Construction
    
    
    65Section 11.12. Specific Performance
    
    
    65Section 11.13. Counterparts
    
    
    66Section 11.14. Arbitration; Submission to Jurisdiction; Waiver of Jury Trial
    
    
    66Section 11.15. Joint and Several Obligations
    
    
    69Section 11.16. Appointment of the Acquirors Representative
    
    
    69
 ExhibitsExhibit A
    
    DefinitionsExhibit B
    
    Form of Trademark License AgreementExhibit C
    
    Form of Parent Advances Transfer AgreementExhibit D
    
    Form of Payoff LetterSchedulesSchedule I
    
    Pegasus AcquirorsSchedule II
    
    ShareholdersSchedule III
    
    Parent KnowledgeSchedule IV
    
    Acquiror KnowledgeSchedule V
    
    Target Closing CalculationsSchedule 2.01
    
    Shares and Purchase Price AllocationDisclosure SchedulesParent Disclosure ScheduleAcquiror Disclosure Schedule
  iv




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Parent Seller Galicia Pegasus Schedule I Pegasus
Acquirors Acquiror
 RECITALS
 Schedule II Shares Financiera Servicios UPC Companies
 Exhibit B Trademark License Agreement
 Schedule II
  ARTICLE I
 DEFINITIONS
 Certain Defined Terms Exhibit A
 ARTICLE II
 PURCHASE AND SALE OF THE SHARES
 Purchase and Sale of the Shares ad referendum Section 5.17




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Schedule 2.01
 Closing Closing Article VIII Satisfaction of
Conditions Closing Date Section
2.01
 Purchase Price Stated Purchase Price Section 2.04 Section 2.05 Section 2.04 Section 2.05 Purchase
Price
 Payments at Closing
 Sellers Purchase Price
Adjustment Certificate Section
2.04(a) of the Parent Disclosure Schedule Schedule V Agreed Accounting Policies
   2




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Section 2.05
 Sections 2.04 2.05 provided however Section 2.04 Section 2.05 Section
2.04(c) Section 2.04 Section 2.05
 Transfer Election Payment Election Election
Notice
  3




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Adjustment to Payment at Closing
 Acquirors Purchase Price Adjustment Certificate Section 2.05(f)
 Purchase Price Adjustment Review Period
 Section 2.05(f)
  4




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Notice of Purchase Price
Adjustment Disagreement Section 2.05(f)
 Purchase Price Adjustment Consultation Period
 Independent
Accountant Section 2.05(f) Final Purchase
Price Adjustment Amount
  5




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Section 2.05(a) (d) Section 2.05(f)
 Section 2.05(f) Section 2.05(f)
 Post-Closing Adjustment Section 2.08 Section 2.04(e)
 Closing Deliveries
  Section 2.04(b) Section 2.04(e)
    6




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Sections
2.04(d) (e)
        Section 2.06(a) Section 8.03(a)(vi) Section 8.02(a)(iii)
  7




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Payments and Computations Article II Section 2.04(e)
 Interest
 ARTICLE III
 REPRESENTATIONS AND WARRANTIES OF THE PARENT
 Parent Disclosure Schedule
 Incorporation and Authority of the Parent and the Seller
   8




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Incorporation, Qualification and Authority of the Companies
 Capital Structure of the Companies; Ownership and Transfer of the
Shares
 Section 3.03(a) of the Parent Disclosure Schedule
  9




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Section 3.03(c) of the Parent Disclosure Schedule Section 2.06(a)(x)
  No Conflict Section 3.05 Article III Section 3.05
  10




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Section
3.04
 Consents and Approvals Section 3.05 of the Parent Disclosure Schedule Governmental Approval
 Financial Information; Absence of Undisclosed Liabilities
 Section 3.06(a) of the Parent Disclosure Schedule Audited
Financial Statements Reference Balance Sheet Section 3.06(a) Financial Statements Section 3.06
   11




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Section 3.06(a)(ii)
 Absence of Certain Changes
 Litigation
 Section 3.13 Section
3.16
 Section 3.08(b) of the Parent Disclosure Schedule
 Section 3.08(c) of the Parent Disclosure Schedule
  Compliance with Laws Section 3.13 Section 3.16
  12




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Governmental Permits
 compañia financiera Permits
  código de
descuento Administratión Pública National Discount Code
 Intellectual Property
 Section 3.11 of the Parent Disclosure Schedule
    13




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Material Contracts
 Section 3.12(a) of the Parent Disclosure Schedule
 Section 3.12(b) of the Parent Disclosure Schedule mutuales sindicatos cooperativas comercializadores agente institorio
 Employee Benefits; Employees
   14




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Benefit
Plans Section 3.13(a) of the Parent Disclosure Schedule Company Benefit Plans
         15




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Section 3.13(a)
  Employee Schedule Section 3.13(g) of the Parent
Disclosure Schedule
   16




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Insurance
 Section 3.14(a) of the Parent Disclosure Schedule Insurance Policies
  Real Property; Assets
 Owned Real Property
 Section 3.15(b) of the Parent Disclosure Schedule Real
Property Leases Leased Real Properties
   17




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Taxes
       Section 3.16(g) of the Parent Disclosure
Schedule
 Section 3.16(h) of the
Parent Disclosure Schedule
 obligaciones negociables Comisión Nacional de Valores
  18




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obligaciones negociables
 Comisión Nacional de Valores
 Section 3.13 Section 3.16
 Affiliate Transactions Section 3.17 of the Parent Disclosure
Schedule Section 5.07
 Brokers UBS
 The Business of the Companies
  Loans pagarés
  19




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Section 3.19(c)
of the Parent Disclosure Schedule
 Books and Records
    Company E&O Claims
 Disclaimer
 Article III
  20




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Article III
 ARTICLE IV
 REPRESENTATIONS AND WARRANTIES OF THE ACQUIROR
 Acquiror
Disclosure Schedule Article IV Article IV
 Incorporation and Authority of the Acquiror; Capitalization Schedule
2.01 Schedule 2.01
  21




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Schedule I Schedule I
 No Conflict Section 4.03 Article IV Section 4.03 Section 4.02
 Consents and Approvals
  22




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Absence of Litigation
 Securities Matters
 Financial Ability
 Compliance with Law; Governmental Orders
   23




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Section 4.03 of the Acquiror Disclosure
Schedule
 Investigation Article III Article III
  24




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Article III
 No Acquiror Material Adverse Effect
 Brokers
 Disclaimer Article IV Article IV
 ARTICLE V
 ADDITIONAL AGREEMENTS
 Conduct of Business Prior to the Closing Sections 5.0 5.15 of the Parent Disclosure Schedule
  25




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Exhibit A
    26




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Section 5.01(a) Section 5.01(c) provided however
  27




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Sections 2.04 2.05 Section
2.04(e) Sections 2.04(d) .06(a)(ii) (iii) provided further
 Sections 5.01(a) (b) Section 5.01(d) Interim Period Debt
 Section 5.01(b)
   28




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Section 5.01(b)
 Section 5.05(e) provided however
 Access to Information
 provided however provided further provided further provided further
  29




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Section
5.02(a) Section 5.02(a) Section 5.21
 Section 5.03 Section 5.02(b) provided however provided further
  30




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Section 5.02(b) Section 5.02(b)
 provided however provided further Section 5.02(c)
  31




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Section 5.02(c)
  Books and Records
 Section 5.04(b) Section 2.05
   32




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Archived Files
 Confidentiality
 Confidentiality Agreements
 Section
5.04(b) provided however
  33




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Regulatory and Other Authorizations; Best Efforts
  Section 5.05
  34




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Section 5.05 Section 5.05(c) Section 5.05(c) Section 5.05(c) Section 5.05(c)
  35




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Material Adverse Effect Regulatory Event provided however Section 5.05(c)
 Section 5.02(d) Section 5.02(d) provided however Section 5.05(d)
 Section 5.05 provided however
  36




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provided further however
 Insurance
 Section 5.06(a)(x) of the Parent Disclosure
Schedule Section 5.06(a)(v) of the Parent Disclosure
Schedule
 provided however provided further
  Section 5.06 Section 5.14
  37




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Intercompany Obligations and Arrangements
 provided however Section 5.07(a) Section 5.07(a) of the Parent Disclosure Schedule Section 5.07(b) Section 5.07(c) of the Parent
Disclosure Schedule Section 2.04(d) Sections 2.06(a)(ii) and (iii) Sections 5.01(b) 5.01(c) Section
5.08 Section 5.11(a) of the Parent Disclosure Schedule
 provided however Section 5.07(b) Section 5.07(a) of the
Parent Disclosure Schedule Section
5.07(b) Section 5.07(c) of the Parent Disclosure Schedule Section
2.04(d) Sections 2.06(a)(ii (iii) Sections 5.01(b) 5.01(c) Section 5.08 Section 5.11(a) of the Parent Disclosure Schedule Section 5.07(b) Section 5.13
  38




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Section 5.07(c) of the Parent Disclosure Schedule
 Guarantees
 Parent
Guaranty Section 5.08(a) of the Parent Disclosure Schedule
 No Solicitation; No Hire
 provided however Section 5.09(a)
 provided however Section 5.09(b)
 Section 5.09
  39




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Section 5.09
 Section 5.09 Section 5.09 Section 5.09
 Intellectual Property; Trade Names and Trademarks
 Section 5.10(a) of the Parent Disclosure
Schedule Parent Names and Marks Section 5.10
 Section 5.10 Section 5.10(e)
  40




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Section 5.10(e) Section 5.10
 Materials Section
5.10 Section 5.10 provided provided further Section 5.10(c)(i) Section 5.10 Section 5.10
  41




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Section 5.10 Section 5.10 Section 5.10 Section 5.10
 Section 5.10
   42




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Divested Entity Section 5.10(e) Section 5.10(e) Section 5.10(e)
 Section 5.10 Section 5.10 Section 5.10 Section 5.10
 Section 5.10
  43




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Cuota Marks Argentine Marks Companies Exclusive Territory Mexican Marks Parents Exclusive Territory
  Sections 5.10(h)(i) (ii)
   44




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Mutual Release
 Parent
Releasor Company Releasee provided however Section
5.11(a) Section 5.07(a) of the Parent Disclosure Schedule Section 5.07(b) Section 5.07(c) of the
Parent Disclosure Schedule Section 2.04(d) Sections 2.06(a)(ii) (iii) Sections 5.01(b) 5.01(c) Section 5.11(a) of the Parent Disclosure
Schedule Section 5.11(a)
 Acquiror Releasor Parent
Releasee
  45




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provided however Section
5.11(b) Section 5.11(b) Section 5.07(a) of the Parent Disclosure Schedule Section 5.07(b) Section 5.07(c) of the Parent Disclosure Schedule Section 2.04(d) Sections 2.06(a)(ii) (iii) Sections 5.01(b) 5.01(c) Section 5.08 Section 5.11(a) of the Parent Disclosure Schedule Section 5.11(b)
  Certain Waivers Section 5.07(b) Section 5.07(c) of the Parent Disclosure Schedule
  46




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Third Party Contracts Section 5.13 of the Parent Disclosure Schedule Section 5.13 of the Parent Disclosure
Schedule provided provided further however Section 5.13 of the Parent Disclosure Schedule Parent Signatory Company Beneficiary Parent Beneficiary Schedule 5.13 Contracts Section 5.13 of the Parent Disclosure Schedule provided Section 5.13 Section
5.13 Section 5.13 of the Parent Disclosure Schedule Section 5.13
  47




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Company E&O Claims
 Separation Section 5.15 of the Parent Disclosure Schedule
 Further Action
 Transfer of Companies Minority Holder Shares Transfer
Notice
 Financial Ability Section 4.06 Section 4.06
 Governmental Orders and Laws Section 5.19 Section 5.05 Section 5.05
  48




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Notifications provided however
 IT Outsourcing Agreement Contrato de Tercerización de
Sistemas Section 5.21
 Disclaimer Article III Article III
  49




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ARTICLE VI
 EMPLOYEE MATTERS
 Employee Matters
 Section 6.01
 Section 6.01(b) of
the Parent Disclosure Schedule Section 6.01(b) of the Parent Disclosure
Schedule provided however provided further
  50




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Section 6.01(b)
   Section 6.01(e) of the Parent Disclosure Schedule
 Section 6.01(f) of the Parent Disclosure Schedule
   51




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Section 6.01 Section 6.01
 ARTICLE VII
 TAX MATTERS
 Liability for Transfer Taxes provided however
 ARTICLE VIII
 CONDITIONS TO CLOSING
 Conditions to Obligations of Each Party
 No Law or Governmental Order
 Approvals of Governmental Authorities
 Conditions to Obligations of the Parent and the Seller
  52




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Representations and Warranties; Covenants Section 8.02(a)
 Ancillary Agreements
 Closing Deliveries Section 2.06(a)
 Conditions to Obligations of the Acquiror
 Representations and Warranties: Covenants Section 8.03(a) Section
3.03(a) Sections 5.01, 5.07, 5.09, 5.16 5.17 Sections 5.01, 5.07, 5.09, 5.16 5.17
  53




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Section 8.03(a)
 Ancillary Agreements
 Closing Deliveries Section 2.06(a)
 No Material Adverse Effect Regulatory Event Section 5.05
 ARTICLE IX
 TERMINATION
 Termination
  provided however Section 8.01(b) provided however further Section 9.01(b)
 Sections 5.05 5.19
  54




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Section 8.01 Section 8.03 Section 9.01(b)
 Section 8.01 Section 8.02 Section 9.01(b)
 Section 5.05 Section 8.03(d) Section 9.03(f)
 Notice of Termination Section 9.01
 Effect of Termination Section 9.01 Sections 5.04 Article IX Article XI provided however Article II Article IV Article IX Article
XI Section 5.01(b) (c) 5.04 5.05 5.09 5.13 5.16 5.18 5.19 5.20 6.01 7.01
 ARTICLE X
 INDEMNIFICATION
 Survival Section 10.02 except
  55




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Section 10.03 except Post-Closing Covenants Section 10.02 10.03 Section 10.02 Section
10.03 Pre-Closing Covenants
 Indemnification by the Parent
 Article X Acquiror Indemnified Parties
   Sections 10.02(a)(i) (ii) Section 3.08 of the Parent Disclosure Schedule Section 9.03 Section 10.02(a)(i)
  56




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Indemnification by the Acquiror
 Article X Section 10.03(a)(i) Parent Indemnified Parties
    Section 5.01(c)
 Section 10.03(a)(i) Section 10.03(b) Section 10.03(a)(i) Section 10.03(a)(i)
 Notification of Claims
 Indemnified
Party Indemnifying Party Article X
  57




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Third Party Claim provided however Article X Article X Section 10.01 Section 10.04(a) Section 10.01 Section 10.01 Section 10.04(a) provided further Section
10.04(a) Article X Article X
 Section 10.04(a)
  58




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Article X Section 10.02 Section 10.03 Article X
 Section 10.04(a) Article X
 Payment Article X Section 2.04(e) finally determined Article X Article VII
 Exclusive Remedies Article VIII Section 9.03 Section 11.12 Article X Section 11.12
  59




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Additional Indemnification Provisions
 Article
X provided Section 2.04 2.05
 Article X Article X
  60




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Notice of Insurance Eligible Insurance Proceeds
 Article X
 Mitigation
 Effect of Knowledge
 ARTICLE XI
 GENERAL PROVISIONS
 Expenses
  Parent Entity Section 11.01(b) of the Parent Disclosure Schedule
  61




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Section 11.01(b) Section
11.01(b)
 Notices Section 11.02
 (i)
    
    if to the Parent or the Seller:American International Group, Inc.
70 Pine Street
New York, NY 10270
Attention: General Counsel
Facsimile: 212-425-2175with a copy to (which shall not constitute notice):Kramer Levin Naftalis & Frankel LLP
1177 Avenue of the Americas
New York, New York 10036
Attention: Howard T. Spilko
Facsimile: 212-715-8000(ii)
    
    if to the Acquiror:Banco de Galicia y Buenos Aires S.A.
Peron 430, floor 12C
(C1038AAJ) Buenos Aires, Argentina
Attention: Diego Rivas
Facsimile: 54-11-6329-4998with a copy to (which shall not constitute notice):Estudio Beccar Varela
Tucumán 1, floor 3
  62




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(C1049AAA) Buenos Aires, Argentina
Attention: Roberto Crouzel
Facsimile: 54-11-4379-6800Mario Eugenio Quintana
Woods White Staton
Rubén Pietropaolo
Luis Maria Blaquier
Jerónimo José Bosch
Juan Manuel Marrone
Libertador 602, floor 18
(C1001ABT) Buenos Aires, Argentina
Facsimile: 54-11-4891-0750with a copy to (which shall not constitute notice):Errecondo, Salaverri, Dellatorre, Gonzalez & Burgio
Bouchard 680, floor 14
(C1106ABH) Buenos Aires, Argentina
Attention: Javier Errecondo / Facundo Goslino
Facsimile: 54-11-5236-4401
 Public Announcements Section 5.01(c)
 Severability
  63




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Section 11.04 Section
5.09(d) Section 5.09(d)
 Entire Agreement
 Assignment provided however Section 5.10 Section 11.06
 No Third Party Beneficiaries Section 5.11 Article X
 Amendment; Waiver
  64




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Disclosure Schedules
 Governing Law
 Rules of Construction
 Specific Performance Sections 10.06
  65




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Section 11.12 Section
5.10(f) Section 5.10(f) Section 11.12
 Counterparts
 Arbitration; Submission to Jurisdiction; Waiver of Jury Trial
 ICC Rules
 ICC Court
   66




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Section
5.04(c)
  Section 11.10
  Submission to Jurisdiction Sections 11.14(a)-(h) Section 11.14
  67




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Section 11.02 SECTION 11.14 Section 11.14(i) Section 11.14
  68




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Section 11.14 Section 2.05
 Joint and Several Obligations provided however
 Appointment of the Acquirors Representative Acquirors Representative
 [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]
  69




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AMERICAN INTERNATIONAL GROUP, INC.By:Name:Title:AIG CONSUMER FINANCE GROUP, INC.By:Name:Title:BANCO DE GALICIA Y BUENOS AIRES S.A.By:Name:Title:




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PEGASUS ACQUIRORSName: Mario Eugenio QuintanaName: Woods White StatonName: Ruben PietropaoloName: Luis Maria BlaquierName: Jeronimo Jose BoschName: Juan Manuel Marrone




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EXHIBIT A
 DEFINITIONS
 Acquiror
 Acquiror Disclosure Schedule Article IV
 Acquiror Indemnified Parties Section
10.02(a)
 Acquiror Material Adverse Effect Section 5.05
 Acquiror Releasor Section 5.11(b)
 Acquiror Specified Representations Sections 4.01 4.03 (last sentence) 4.05 4.06 4.07 4.08 4.09 4.10 4.11
 Acquirors Estimated Closing Cash
 Acquirors Estimated Closing Indebtedness
 Acquirors Estimated Closing Loans
 Acquirors Estimated Purchase Price Adjustment Amount plus minus minus
 Acquirors Purchase Price Adjustment Certificate Section 2.05(a)
 Acquirors Representative Section 11.16
 Action
  A-1




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Affiliate provided however
 After-Tax Basis
 Agreed Accounting Policies Section
2.04(a)
 Agreement Section 11.08
 AIG Credit Facility Trust
 Ancillary Agreements
 Archived Files Section 5.03(b)
 Argentine Marks Section 5.10(h)(i)
 Audited Financial Statements Section
3.06(a)
 Bankruptcy Event
  A-2




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Bankruptcy Law
 BCRA
 BCRA Approval
 Benefit Plans Section 3.13(a)
 Books and Records
 Business
 Business Day
 Capital Stock
 Change of Control COC Person
  A-3




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Closing Section 2.02
 Closing Cash billete tipo vendedor
 Closing Date Section 2.02
 Closing Indebtedness billete tipo vendedor provided however
 Closing Loans billete tipo vendedor
 CNDC
  A-4




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CNDC Approval
 COC Person
 Code
 Companies Exclusive Territory Section
5.10(h)(i)
 Companies Minority Holder Shares
 Companies Minority Holders
 Companies
 Company Beneficiary Section 5.13
 Company Benefit Plans Section 3.13(a)
 Company E&O Claims Section 5.14 of
the Parent Disclosure Schedule
 Company Releasee Section 5.11(a)
 Confidentiality Agreements Section
5.04(a)
 Contract
 Control
 Corporate Records estatutos libro de registro de accionistas libro de depósito de acciones y registro de asistencia a asambleas Comisión Fiscalizadora
 Cuota Marks Section 5.10(h)(i)
  A-5




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Data Room
 Discount Code Section 3.10(c)
 Divested Entity Section 5.10(e)
 Election Notice Section 2.04(d)
 Eligible Insurance Proceeds Section
10.07(d)
 Employee Schedule Section 3.13(g)
 Employees Section
6.01 Section 3.13
 Exchange Rate billete tipo vendedor
 Final Purchase Price Adjustment Amount Section
2.05(f)
 finally determined Section 10.05
 Financial Statements Section 3.06(a)
 Financiera
 Financiera Shares
 FRBNY
 FRBNY Credit Agreement
 GAAP
  A-6




---



##### 



Galicia
 Governmental Approval Section 3.05
 Governmental Authority
 Governmental Order
 ICC Court Section 11.14(b)
 ICC Rules Section 11.14(a)
 Indebtedness
 Indemnified Party Section 10.04(a)
 Indemnifying Party Section 10.04(a)
 Independent Accountant Section 2.05(f)
 Insurance Policies Section 3.14(a)
 Intellectual Property Trademarks
  A-7




---



##### 



Section 3.11
 Intentional Breach
 Intercompany Agreements
 Interest Rate
 Interim Period Debt Section 5.01(c)
 IRS
 Knowledge Known Schedule III Schedule IV
 Law
 Leased Real Properties Section 3.15(b)
 Lien
 Litigation Hold
 Loans Section 3.19(b)
 Losses
 Material Adverse Effect
  A-8




---



##### 



provided however Section A-1 of the Parent Disclosure
Schedule Parent
Event
 Material Adverse Effect Regulatory Event Section 5.05(c)
 Material Contract
  A-9




---



##### 



Materials Section 5.10(c)
 Mexican Marks Section 5.10(h)(i)
 Notice of Insurance Section 10.07(d)
 Notice of Purchase Price Adjustment Disagreement Section 2.05(d)
 Objective Standards
 Ordinary Course of Business
 Owned Real Property Section 3.15(a)
 Parent
 Parent Advances Parent Advances
Lender
  A-10




---



##### 



Parent Advances Amount
 Parent Advances Lender
 Parent Advances Transfer Agreement Section 2.04(d) Exhibit C
 Parent Beneficiary Section 5.13
 Parent Disclosure Schedule Article III
 Parent Entity Section 11.01(b)
 Parent Event
 Parent Guaranty Section 5.08(a)
 Parent Indemnified Parties Section
10.03(a)
 Parent Names and Marks Section 5.10(a)
 Parent Releasee Section 5.11(b)
 Parent Releasor Section 5.11(a)
 Parent Signatory Section 5.13
 Parent Specified Representations Sections 3.01 3.03 Section
3.03(a) Section 3.03(c) Section 3.03(d)
 Parents Exclusive Territory Section
5.10(h)(i)
 Payment Election Section 2.04(d)
 Payoff Letter Exhibit D
 Pegasus
  A-11




---



##### 



Pegasus Acquirors
 Permits Section 3.10(a)
 Permitted Liens provided however
 Person
 Post-Closing Adjustment Section 2.05(h)
 Post-Closing Covenants Section 10.01
 Pre-Closing Covenants Section 10.01
 Purchase Price Section 2.03
 Purchase Price Adjustment Consultation Period Section 2.05(e)
  A-12




---



##### 



Purchase Price Adjustment Review Period Section 2.05(b)
 Real Property Leases Section 3.15(b)
 Reference Balance Sheet Section 3.06(a)
 Registered Intellectual Property
 Request for Arbitration
 Representative
 Satisfaction of Conditions Section 2.02
 Schedule 5.13 Contracts Section 5.13
 Seller
 Sellers Estimated Closing Cash
 Sellers Estimated Closing Indebtedness
 Sellers Estimated Closing Loans
 Sellers Estimated Purchase Price Adjustment Amount plus minus minus
 Sellers Purchase Price Adjustment Certificate Section 2.04(a)
 Servicios
 Shares
  A-13




---



##### 



Specified Liabilities Schedule V
 Stated Purchase Price Section 2.03
 Subsidiary
 Target Closing Cash Schedule V
 Target Closing Indebtedness Schedule V
 Target Closing Loans Schedule V
 Tax Taxes
 Tax Authority
 Tax Returns
 Third Party Claim Section 10.04(a)
 Trademark License Agreement
 Trademarks
  A-14




---



##### 



Transaction Agreements
 Transfer Election Section 2.04(d)
 Transfer Notice Section 5.17
 UBS Section 3.18
 UPC
  A-15




---



##### 



EXHIBIT B
 FORM OF TRADEMARK LICENSE AGREEMENT
 See Attached
  B-1




---



##### 



EXHIBIT B
 TRADEMARK LICENSE AGREEMENT
 Agreement  Parent Licensor Companies Licensees Galicia Pegasus Schedule I Pegasus Acquirors Acquiror Parties Party
  Purchase Agreement Seller




---



##### 



DEFINITIONS
 Definitions a b
 Action
 Acquiror
 Agreemen
 Business
 Business Day
 Categories Section 3.1
 Code
 Companies
 Dispute Section 11.7
 Effective Time Section 2.1
 Governmental Authority
 Governmental Order
 ICC Court Section 11.7(b)
 ICC Rules Section 11.7(a)
 Indemnified Party Section 9.3(a)
 Indemnifying Party Section 9.3(a)
 Law
  2




---



##### 



Letterhead
 License
 License and Legal Entity Statement Section 5.4
 Licensees
 Licensor
 Marks Schedule A
 Materials Section 3.2
 Notice of Dispute Section 11.7(a)
 Parent
 Parties Party
 Purchase Agreement
 Quality Standards Section 4.1
 Representative
 Request for Arbitration
 Seller
 Source Indicator Section 2.4(c)
 Stuffer Letter Section 5.5
 Term Section 10.1
 Territory
 Third-Person Claim Section 9.3(a)
  3




---



##### 



Time Frames Section 3.1
 Interpretation a b c d e f g h i j i ii k
 LICENSE
 Effective Time Effective Time
 Grant of License a b c
 Internet Use a b
 No Modifications
  4




---



##### 



Source Indicator provided however
 Limited License
 ADDITIONAL REQUIREMENTS
 Transition
 i ii provided x y
    5




---



##### 



Section
3.1 Section 3.2   Section 11.2
 Destruction of Materials Section
3.1 a b Materials
 Certification of Destruction a b
 Obligation to Cease Use of the Mark
 Representation in the Marketplace
  6




---



##### 



QUALITY STANDARDS
 Quality Control and Standards a b Quality Standards
 Samples a b Section 10.2
 Record of Use
 Quality Assurance
 Notices and Legends a ® b
  7




---



##### 



USE AND OWNERSHIP OF THE MARKS
 Use of Marks
 Ownership of Marks
 No Confusion or Registration a b c d
 License and Legal Entity Statement License and Legal Entity Statement
 
    8




---



##### 



Stuffer Letter Stuffer Letter
 PROTECTION OF MARKS; LITIGATION
 Unauthorized Use a b c
 Enforcement
 Recovery Article VI
 ASSIGNMENT
  Section 7.1
 Section 7.1
  9




---



##### 



Binding on Successors and Assigns
 REPRESENTATIONS; WARRANTY DISCLAIMER
 Duly Authorized
 DISCLAIMER SECTION 9.2
 INDEMNIFICATION
 Indemnification by Acquiror / Licensee Section 9.2
 Indemnification by Licensor provided however
  10




---



##### 



Procedures Article IX
 Indemnified
Party Indemnifying
Party Article IX Third-Person Claim provided however Article IX
 Section 9.3(a)
 Article IX Article IX
  11




---



##### 



Section 9.3(a) Article IX
 Article IX Article IX
 TERM AND TERMINATION
 Term Section 3.1 Sections 10.2 10.3 provided Term
 Termination Upon Company Breach provided
 Termination Upon Certain Insolvency Events a
  12




---



##### 



b clause (a)
 Effect of Termination a b Section 3.3 c d e
 Rights and Remedies Article X
  MISCELLANEOUS
 Survival Articles VII and IX Sections 3.4 5.2 5.3 8.2 10.4 10.5 11.2 11.7 11.8 11.9 11.11 Section 11.1
 Notices Section 11.2
 (i)
    
    if to Licensor:American International Group, Inc.
70 Pine Street
New York, NY 10270
Attention: General Counsel
Facsimile: 212-425-2175with a copy to:American International Group, Inc.
70 Pine Street  Floor 24
New York, NY 10270
  13




---



##### 



Attention: Ms. Liz Flynn
                  Head of Divestiture Separation Team
Facsimile: 212-770-3637with a copy to (which shall not constitute notice):Kramer Levin Naftalis & Frankel LLP
1177 Avenue of the Americas
New York, New York 10036
Attention: Howard T. Spilko
Facsimile: 212-715-8000(ii)
    
    if to the Licensees:AIG Universal Processing Center S.A.
Compañía Financiera Argentina S.A.
Cobranzas y Servicios S.A.
Attention: []
Facsimile: []with a copy to (which shall not constitute notice):Errecondo, Salaverri, Dellatorre, González & Burgio
Bouchard 680, floor 14
(C1106ABH) Buenos Aires, Argentina
Attention: Javier Errecondo / Facundo Goslino
Facsimile: 54-11-5236-4401Estudio Beccar Varela
Tucuman 1, floor 3
(C1049AAA) Buenos Aires, Argentina
Attention: Roberto Crouzel
Facsimile: 54-11-4379-6800
 Severability
 Entire Agreement
  14




---



##### 



No Third-Party Beneficiaries
 Amendment; Waiver
 Arbitration; Submission to Jurisdiction; Waiver of Jury Trial
 ICC Rules
 ICC Court
   15




---



##### 



Section 11.8
  Submission to Jurisdiction Sections 11.7(a)-(h) Section 11.7
  16




---



##### 



Section
11.02 SECTION 11.7 Section 11.7(i) Section
11.7
 Governing Law
 Obligations of Parties
  17




---



##### 



Counterparts
 Guarantee
 [Signatures On Following Page]
  18




---



##### 



EXHIBIT B
  AMERICAN INTERNATIONAL GROUP, INC.By:Name:Title:BANCO DE GALICIA Y BUENOS AIRES S.A.By:Name:Title:  19




---



##### 



PEGASUS ACQUIRORSName: Mario Eugenio QuintanaName: Woods White StatonName: Ruben PietropaoloName: Luis Maria BlaquierName: Jeronimo Jose BoschName: Juan Manuel Marrone
  20




---



##### 



SCHEDULE A
 PARENT
LICENSED REGISTERED MARKS
 Mark
    
    Class
    
    
    Reg. No.
    
    
    Reg. DateAIG
    
    
    16
    
    
    
    1392453
    
    
    March 31, 1992
 VENCIDAAIG
    
    
    35
    
    
    
    1579745
    
    
    October 23, 1995 CON RENOVACION EN TRAMITE, POSIBLEMENTE CON ALGUN PROBLEMAAIG
    
    
    36
    
    
    
    1335813
    
    
    March 8, 1989 RENOVADA POR LA QUE SIGUE EN ESTE CUADROAIG
    
    
    36
    
    
    
    1728875
    
    
    March 1, 1999
 VIGENTE ENTIENDO QUE ES LA MAS IMPORTANTE POR CUBRIR LA CLASES DE SERVICIOS FINANCIEROSAIG (specifically for credit cards)
    
    
    42
    
    
    
    1579744
    
    
    October 23, 1995
 CON RENOVACION EN TRAMITE, POSIBLEMENTE CON ALGUN PROBLEMA
 PARENT
LICENSED UNREGISTERED MARKS
  LICENSED TRADENAMES




---



##### 



SCHEDULE I
 Pegasus Acquirors
 
    
    Mario Eugenio Quintana
    
    Woods White Staton
    
    Ruben Pietropaolo
    
    Luis Maria Blaquier
    
    Jeronimo Jose Bosch
    
    Juan Manuel Marrone




---



##### 



EXHIBIT C
 FORM OF PARENT ADVANCES TRANSFER AGREEMENT
 See Attached
  C-1




---



##### 



EXHIBIT C
 PARENT ADVANCES TRANSFER AGREEMENT
 Parent Advances Transfer Agreement  Stock Purchase
Agreement Parent Seller Galicia Pegasus Acquiror
 RECITALS
 Transferee
 AGREEMENT
  Transfer
 Further Assurances




---



##### 



Facsimile Signature; Counterparts
 Governing Law
   2




---



##### 



IN WITNESS WHEREOF
 [PARENT ADVANCES LENDERS]By:Name:Title:[TRANSFEREE]By:Name:Title:Portion of Parent Advances to purchase:  []%  3




---



##### 



EXHIBIT D
 FORM OF PAYOFF LETTER
 See Attached
  D-1




---



##### 



EXHIBIT D
 PAYOFF LETTER
  
  Agreement Borrower Lender
  [____]ABA #: [____]NF: [____]ACCOUNT #: [____]REF: [____] Payoff Amount
 Lender Account Payoff Date Payoff Amount provided Per Diem Amount
 Effective Time




---



##### 



Lender Parties
    2




---



##### 



3




---



##### 



Very truly yours,
[____], as LenderBy:Name:Title:By:Name:Title:   By:Name:Title:  By:Name:Title:   4




---



##### 



Schedule 1
 Payoff Amount
   S-1




---



##### 



SCHEDULE I
 Pegasus Acquirors
 PERCENTAGE EQUITYINTEREST IN
    
    PRINCIPAL
    
    COUNTRY OFNAME
    
    PEGASUS/DIRECTOR
    
    RESIDENCE
    
    CITIZENSHIPMario Eugenio Quintana
    
    66.67%  Director
    
    Argentina
    
    ArgentinaWoods White Staton
    
    33.33%
    
    Colombia
    
    ColombiaRuben Pietropaolo
    
    0%  Director
    
    Argentina
    
    ArgentinaLuis Maria Blaquier
    
    0%  Director
    
    Argentina
    
    ArgentinaJeronimo Jose Bosch
    
    0%  Director
    
    Argentina
    
    ArgentinaJuan Manuel Marrone
    
    0%  Director
    
    Argentina
    
    Argentina
  1




---



##### 



SCHEDULE II
 Shareholders
 COMPANY
    
    SHAREHOLDERS1
    
    
    SHAREHOLDINGCobranzas y Servicios S.A.
    
    Edward Joseph Cooper Jr.
    
    
    
    40Compañía Financiera Argentina S.A.
    
    Edward Joseph Cooper Jr.
    
    
    1AIG Universal Processing Center S.A.
    
    Edward Joseph Cooper Jr.
    
    
    1,096
 
 1
    
    Shares of Edward Joseph Cooper Jr. in the three
Companies may be transferred to a Parent or Seller employee (Mr. James
Archibald or a designee) prior to signing or between signing and Closing. Upon
transfer of such shares, the name of Mr. Cooper will be deemed replaced by the
name of Mr. Archibald or a designee in this Schedule.  2




---



##### 



SCHEDULE III
 Parent Knowledge
 Subject Matter Limitations/Name
    
    Areas of Responsibility Christopher Seymour (General Counsel of Seller)
    
    Legal Matters James Archibald (Senior Vice President of Seller)
    
    Operations Matters Brian Maloy (Chief Financial Officer of Seller)
    
    Accounting and Tax Matters
  3




---



##### 



SCHEDULE IV
 Acquiror Knowledge
 Subject Matter Limitations/Name
    
    Areas of Responsibility Galicia: Diego Rivas (Financial Manager)
    
    All Pegasus: Mario Eugenio Quintana (President)
    
    All
  4




---



##### 



SCHEDULE V
 Target Closing Calculations
 See Attached
  5




---



##### 



Schedule 2.01
 FINANCIERANumber of
    
    
    SERVICIOS
    
    
    UPCJURISDICION
    
    
    Shares and
    
    
    Number of
    
    
    Number of(if an entity)/
    
    
    Allocable
    
    
    Shares and
    
    
    Shares andRESIDENCE
    
    
    Purchase
    
    
    Allocable
    
    

AllocableENTITY
    
    (if an individual)
    
    
    Price2
    
    
    Purchase Price
    
    

Purchase PriceGalicia
    
    Argentina stock
 corporation
    
    
    446,050,000 and 
AP130,942,289
    
    
    380,583 and 
AP334,577
    
    
    1,221,370 and AP1,923,135Mario Eugenio Quintana
    
    Argentina
    
    27,878,125 and AP8,183,893
    
    23,786 and AP20,911
    
    76,336 and AP120,196Woods White Staton
    
    Colombia
    
    55,756,250 and AP16,367,786
    
    47,573 and AP41,822
    
    152,671 and AP240,392Ruben Pietropaolo
    
    Argentina
    
    11,151,250 and AP3,273,557
    
    9,515 and AP8,364
    
    30,534 and AP48,078Luis Maria Blaquier
    
    Argentina
    
    5,575,625 and AP1,636,779
    
    4,757 and AP4,182
    
    15,267 and AP24,039Jeronimo Jose Bosch
    
    Argentina
    
    5,575,625 and AP1,636,779
    
    4,757 and AP4,182
    
    15,267 and AP24,039Juan Manuel Marrone
    
    Argentina
    
    5,575,625 and AP1,636,779
    
    4,757 and AP4,182
    
    15,267 and AP24,039
 FINANCIERA
 Allocable Share of Purchase Price: AP163,677,862 (to be adjusted at Closing pursuant to Sections
2.04 and 2.05 in the Agreement)
 SERVICIOS
 Allocable Share of Purchase Price: AP418,220
 UPC
 Allocable Share of Purchase Price: AP2,403,918
 
 2
    
    Allocable Purchase Price to be adjusted at Closing
pursuant to Sections 2.04 and 2.05 in the Agreement.  6