YPF EXECUTIVES

Feb. 13, 1995
Following are brief sketches of the professional backgrounds of YPF's chief executive officer, chief operating office, and the vice-presidents of its two business units, upstream and do stream. The company has six additional vice-presidents whose responsibilities range from finance and corporate development to engineering and technology. They are not included in these summaries.

Following are brief sketches of the professional backgrounds of YPF's chief executive officer, chief operating office, and the vice-presidents of its two business units, upstream and do stream. The company has six additional vice-presidents whose responsibilities range from finance and corporate development to engineering and technology. They are not included in these summaries.

Jose A. Estenssoro is president and chief executive officer of YPF S.A. He joined the predecessor, state-owned Yacimientos Petroliferos Fiscales, in 1990 when he was appointed trustee by the Argentine government. He was responsible for the transformation and restructuring program as well as for the privatization which followed.

Together with his appointment to YPF, Estenssoro was also appointed trustee for the privatization of Gas del Estado, the government monopoly for the transportation and distribution of gas in Argentina. This company was privatized in December 1992.

From 1962 to 1987, Estenssoro held various positions with Hughes Tool Co. During his career there he was president of the Argentine subsidiary and a vice-president of the parent company. After the Baker-Hughes merger, he became president of the company. From 1987 to 1989, Esternssoro was a stockholder in and president of Sol Petroleo S.A. He divested himself of his interests in Sol Petroleo as well as in EPP, a company engaged in exploration and production, when he was appointed to YPF.

He is a graduate of Rensselaer Polytechnic Institute.

Nells Leon is executive vice-president and chief operating officer of YPF. He was associated wit f. le original YPF for many years and for a brief period served as its president.

Leon began his career as an engineer in YPF in 1956. Over a span of 21 years he held various positions. His activities ranged from work in the North oil field to that of general administrator in 1976. In 1977, he joined Flopetrol S.A. where he was responsible for research efforts in sophisticated measuring techniques in France and Holland. From 1979 to 1982, he was operations manager of Alianza Petrolera S.A. He left this position to rejoin YPF as upstream and downstream chief operating officer. In 1987, he became vice-president for oil operations at Sol Petroleo S.A. In 1990 he became vice-president of EEP and later joined YPF. He earned a degree in civil engineering from the Litoral National University.

Eduardo Petazze is vice-president of refining and marketing and as such heads YPF's downstream strategic business unit.

He joined YPF in 1983 and has held various positions since then. Petazze was responsible for the downsizing effort when the Government of Argentina decided to transform and privatize state-owned YPF. He was appointed upstream vice-president in 1992 and later took on his present position.

Petazze is a certified public accountant and began his career in local auditing firms. From 1975 to 1983, he was comptroller of the hydroelectric power plant run by the Salto Grande Mixed Technical Commission.

Petazze graduated from Buenos Aires University and took post-graduate courses in taxes, audit, finance, and data processing. He holds a post-graduate degree in systems engineering.

Marcelo Guiscardo is vice-president of exploration and production. He joined YPF in October 1993.

Prior to that he worked for Exxon Co. U.S.A., which he joined in 1979 as a research engineer. In 1983, he became operations superintendent for Exxon U.S. West Coast oil and gas production. Then in 1991, he became a technical consultant for strategic planning and held this job until February 1993.

He left that job to become vice-president of Exxon Co. International with responsibility for managing the group's interests in Iraq, Abu Dhabi, and Egypt. He also headed Exxon projects in France.

Guiscardo was born in Mar del Plata in the province of Buenos Aires. He holds a degree in engineering from Rutgers, where he was graduated with top honors.

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