Article: Fitch Takes Rating Actions on National Scale Ratings in Latin America.

NEW YORK -- During the weeks of Nov. 28-Dec. 2, 2005, Dec. 5-Dec. 9 2005, and Dec. 12-Dec. 16, Fitch Ratings changed the following ratings on the national scale in Latin America:

Corporates:

Bradesplan Participacoes S.A. (Brazil)

-- Senior unsecured debentures issuance for BRL700,000,000 PID.

BOLSER (Bolivia)

-- Issuer assigned new national scale long-term rating of 'A(bol)'. The Rating Outlook is Stable.

Financial institutions:

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