Venezuela receives tenders of $928.8 million 1.15% notes

New York, June 21 - The Bolivarian Republic of Venezuela said it received tenders of $928.755 million of its $1.029 billion 1.15% notes due Sept. 30, 2004, or 90% of the outstanding amount.

All tenders validly submitted were accepted, Venezuela said. The offered expired at 12 p.m. ET on June 18.

Venezuela will pay $500 per $500 principal amount for the notes plus accrued interest up to but not including the settlement date.

The tender is part of Venezuela's effort begun in November 2002 to improve the maturity profile of its debt. By purchasing the 1.15% notes early, the country will cut its debt service costs for the second half of the year.

Dealer managers for the offer were ABN Amro (866 409-7643 or call collect 212 409-6255) and Barclays Capital (866 307-8991 or call collect 212 412-4072). Georgeson Shareholder was the information agent (212 440-9800, 888 897-6149, or +44 (0) 870 703 6357).

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