Electricidad Argentina S.A.

Financial Information

(as of June 30, 2002)

Account	Amount
ASSETS
CURRENT ASSETS
Cash and Banks	23
Investments	2
Other Accounts Receivable	278
*Total Current Assets	303
NON CURRENT ASSETS
Invesments	505,892
Inventory	36
Intangible Assets	1,422
*Total Non Current Assets	507,350
**Total Assets	507,653
LIABILITIES
CURRENT LIABILITIES
Payables Trade	135
Payables Bank & Financial	164,536
Payables Payroll and Payables Social Security Taxes	15
Other Current Liabilities	62
*Total Current Liabilities	164,748
LONG TERM LIABILITIES
Payables Bank & Financial	231,040
*Total Long Term Liabilities	231,040
**Total Liabilities	395,788
**Subtotal	395,788
NET WORTH
CAPITAL
Paid-in Capital	170,000
Inflation Adjustment	197,810
Total Equity	367,810
CONTRIBUTIONS TO FUTURE INCREASES IN EQUITY
Premium on Equity Issues	52,583
*Total Contributions to Future Increases in Equity	52,583
RESERVES FUNDED BY RETAINED EARNINGS
Legal Reserve	14,494
*Total Reserves Funded by Retained Earnings	14,494
RETAINED ERANINGS - UNAPPROPRIATED
Retained Eranings - Unappropriated	-323,022
*Total Retained Eranings - Unappropriated	-323,022
TECHNICAL REVALUATIONS
**Total Net Worth	111,865
STATEMENT OF INCOME
OPERATING EXPENSES
Long-Term Investment Results	-438,476
Other Income (Loss)	284
FINANCIAL RESULTS
From Assets	-562
From Liabilities	-186,021
Income Tax	-4
Ordinary Income (Loss)	-625,131
Accounting Period Income (Loss)	-625,131
SOURCES & USES OF FUNDS
CHANGE IN CASH & SHORT-TERM RECEIVABLES
Inicial Cash & Short-Term Receivables	402
Adjustments to the Current Period	402
Increase/Decrease in Cash & Short-Term Receivables	-377
Ending Cash & Short-Term Receivables	25