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YPF SOCIEDAD ANONIMA STOCKHOLDERS APPROVE PROPOSED ISSUANCE OF NOTES

 BUENOS AIRES, Argentina, Dec. 8 /PRNewswire/ -- YPF Sociedad Anonima (NYSE: YPF) announced that its stockholders approved YPF's proposed issuance of $350 million of notes (so-called "Yankee Bonds") in the United States and a Medium Term Note program of up to $500 million.
 YPF proposes to sell the Yankee Bonds in early 1994, through a group of underwriters to be led by CS First Boston, Merrill Lynch and Salomon Brothers. The Company has no immediate plans to issue notes under the Medium Term Note program.
 Stockholder approval of these issuances was necessary under Argentine law to avoid the imposition of Argentine withholding taxes on interest payments.
 YPF, the largest Argentine company, is an integrated oil and gas company engaged in the exploration, development and production of oil and natural gas and in the refining, marketing, transportation and distribution of oil and a wide range of petroleum products, petroleum derivatives, petrochemicals and liquid petroleum gas.
 A registration statement relating to the Yankee Bonds has been filed with the Securities and Exchange Commission but has not yet become effective. The Yankee Bonds may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Yankee Bonds in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 12/8/93
 /CONTACT: YPF Public Relations, in Buenos Aires, 541-326-4839/
 (YPF)


CO: YPF Sociedad Anonima ST: IN: OIL SU:

GK-MP -- NY034 -- 1678 12/08/93 10:22 EST
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Publication:PR Newswire
Date:Dec 8, 1993
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