YPF FUNDATION

CREATION

The YPF Foundation, a donating and non-profit-making organisation, was created at the Annual General and Extraordinary Meeting of YPF Corporation on April 30th 1996.

MISSION

Promote, participate, foment, execute and be actively involved in all types of undertaking or work of an educational nature aimed at stimulating research and development, especially when related to petrochemicals, energy and mining, with the emphasis placed on the hydrocarbons sector.

VISION

To help the country to reach a stage in which it can participate actively in an ever more integrated world.

ACTIVITIES

The organisation of scholarships and awards for the development of young professionals and the support of university students in general,

Agreements with primary, secondary and tertiary educational institutions throughout the country in order to give support to the activities performed by these institutions,

The promotion and support of research projects,

Assistance in the edition and publishing of books and papers on educational, scientific, technical and economic issues.

VALUES

The need for transparency in its undertaking requires that it be economical in its administration, efficient in its operations and that its investments should be made according to precisely defined objectives which can be measured and evaluated.

ANNUAL BUDGET

Our financial resources are gifted by YPF Inc., up to a maximum of 0.5% of the average profits over the previous 3 approved accounting periods.

REPSOL-YPF

As from the birth of Repsol � YPF in 1999 a new stage commenced for Fundación YPF.

With the object of uniting capabilities and experience the Fundación Repsol YPF in Spain and the Fundación YPF in Argentina will work together, pooling their efforts and experience with the common aim of improving the quality of education and promoting research and development in the energy and petrochemical sectors.

EXISTING PROGRAMS

POSTGRADUATE SCHOLARSHIPS:

In 1996, the Foundation YPF commenced the José A.Estenssoro Scholarship program, expressing its commitment to contribute with the development of the scientific-technological activity of the community. The support is focused on outstanding young professionals who, at the end of their university studies, seek a postgraduate degree abroad.

1996 Scholarships. The Foundation offered scholarships for postgraduate courses in Physics, Geology, Mathematics, Chemistry, Computer Science and Engineering to thirteen young professionals, who were chosen by their own universities.

1997 Scholarships. The Foundation offered thirteen scholarships for graduates in careers such as Biology, Agronomy, Literature, Philosophy, Political Science, Medicine, Veterinary Science and Communication

1998 Scholarships. The announcements were aimed at the same universities as had been selected in 1997. The Fulbright Committee joined the program, collaborating with FYPF in the cases of those scholars which had elected United States Universities. The scholarships were awarded to fourteen young people specialising in such subjects as Agriculture, Engineering, Economics, Architecture, Computing, Law and Cognitive Sciences.

1999 Scholarships. The announcements introduced significant changes which implied a virtual redesigning of the post graduate scholarships. The available places were increased to 40, thus placing FYPF amongst the principal awarding entities in the country. In addition the condition was set that the scholars should enter for postgraduate courses at masters and doctorate level, for which purpose all scholarships were extended to a two year period, further extendible to three years at YPF�s discretion. The universe of possible candidates was broadened, raising the age limit to 32 years and affording the possibility for participation to foreigners permanently settled in Argentina. The selection procedure was also modified as now it is the candidates themselves who put themselves forward, without going through the respective university.

The redesign of the scholarships was possible thanks to the participation in the program of governments and foreign organizations - agreements which translate into lower costs and better support for the scholars, assuring their conditions for accommodation, the selection of health insurance, and the necessary academic excellence. The agreements were made with France, Germany, Great Britain and The United States.

Announcement of José A. Estenssoro Scholarships

On December 26^th, 1999, the José A. Estenssoro 2000 scholarship was announced for the awarding of post-graduate scholarships in Germany, USA and France eight scholarships to be awarded in each country. The announcement for scholarships in Great Britain with be made in 2001, in accordance with the arrangement agreed with the British Council.

The scholarships with have a maximum duration of 2 years, extendable to 3 years, and will include teaching, travelling, housing, maintenance and insurance costs.

These scholarships will be limited to technological careers, preferably those connected with the energy and petrochemical sector.

GRADUATE SCHOLARSHIPS

Towards the end of 1998 FYPF decided to broaden its undertaking by offering a Graduate Scholarship Program for National Universities. This is an entirely new departure and is intended as a "show piece" in local circles. There is no tradition in our country for graduate scholarships, as university teaching has historically been provided by the public university.

The Program consists of the selection of 16 national universities and the awarding of five scholarships to each of them for regular students who have finished the first year of any career of five or more years, are no more than 21 years of age on 1st March 1999, and have a demonstrable family income of not more than $2,000 per year. The scholarship is for the sum of $500 per month, and studies must be full time. The selection mechanism for the candidates, as well as the follow up on their performance, is in the hands of the respective university. FYPF will periodically remit the funds and will require six-monthly reports on the scholar�s compliance with obligations. For all cases funding will begin in the 1999 academic year.

GRANTS FOR INNOVATIVE PROGRAMS IN EDUCATION

This assistance is directed towards the implementation of innovative projects presented by schools together with universities, which tend to improve certain specific or general aspects of education within the primary and intermediate level. Priority is given to projects which could become models, with multiplying effects.

As a pre-requisite, the projects establishes a commitment towards joint work and co-operation between a university and one or more schools. All the institutions involved work together, joining efforts and expertise with the common goal of improving some aspect of the educational process.

GRANTS FOR INNOVATIVE PROGRAMS IN MUSEUMS

This competition, carried out in 1997, awarded subsidies to projects aimed at setting up new museums or innovative ideas for attracting and obtaining the participation of the general public. The subsidy was awarded for putting into effect projects which would generate innovations and increase the access of the public to the museum�s heritage, for promoting the use of museums by sectors which were not previously using them, or for implementing structural or internal training reforms to redefine and put into practice the policies of the institution. Four museums were selected, which have received a two-year subsidy (1998-1999)

In order to contribute with the recipient institutions needing technical assistance, and with the Evaluation Committee, Foundation YPF is interested in learning about successful experiences in other countries in the subjects covered by the grants mentioned above. We would very much appreciate receiving a brief description of successful projects and the have the opportunity of contacting project leaders.

Executive Director of Fundación YPF:
Silvio J. Schlosser

Address: Esmeralda 255, 1er. piso, of. 119 "A",
1364 Buenos Aires, Argentina
Phone: (54 11) 4 329 5546
Fax: (54 11) 4329 5877

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Fundación YPF
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