Press Release
Iraq Announces Extension of Period for Submission of Commercial Claims to 15 April 2005

 Baghdad, Iraq

The Ministry of Finance and the Central Bank of Iraq today announced that Iraq is extending until 15 April 2005 the period for submission of claims by any commercial creditors (including financial institution creditors) who believe they may be a creditor of Iraq.

In light of the volume of submissions received so far, Iraq has agreed to this request from parties that are still compiling and preparing the necessary documentation.

Only those claims that have been submitted and reconciled will be eligible for inclusion in any offer Iraq makes in connection with those claims. Since reconciliation with Iraq’s own records must precede any offer by Iraq, any non-government parties who believe they may be a creditor of Iraq or hold commercial claims against Iraq are strongly encouraged to consult the Request for Information regarding commercial claims on the World Wide Web at www.eyidro.com , and to submit their claims at the earliest possible opportunity but no later than 15 April 2005.

In order to obtain further information, the website requires that such parties register to obtain a password, and thereby gain access to the site details. Further available information of assistance to holders of claims is available on the website. Questions may be addressed to Ernst & Young, Iraq’s debt reconciliation agents, at the Iraq Debt Reconciliation Office in Amman at idro@ammrsiesd.com , +962-6-5509001.

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Neither this release nor the Request for Information (RFI) constitute an offer by the Republic of Iraq or by any other party to restructure or exchange any outstanding claims, nor do they constitute an admission or acknowledgement of any such claim, or an acknowledgement that any such claim exists or has been revived or reinstated, or an express or implied promise to pay any such claim or any part thereof. This release and the RFI are expressly made without prejudice. All defenses available to the Republic of Iraq and any other party based upon any applicable statute of limitations or otherwise are expressly preserved. This release and the RFI may not be relied upon as evidence of the existence of any claim or the willingness or ability of the Republic of Iraq or any party to pay any such claim.