<?xml version="1.0" encoding="utf-8"?>
<!--
  == Copyright (c) 2002-2005. All rights reserved.
  == Financial Products Markup Language is subject to the FpML public license.
  == A copy of this license is available at http://www.fpml.org/documents/license
  -->
<FpML version="4-2" xmlns="http://www.fpml.org/2005/FpML-4-2" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.fpml.org/2005/FpML-4-2 ../fpml-main-4-2.xsd" xsi:type="DataDocument">
	<trade>
		<tradeHeader>
			<partyTradeIdentifier>
				<partyReference href="partyA"/>
				<tradeId tradeIdScheme="http://www.swapswire.com/spec/2001/trade-id-1-0">37203</tradeId>
			</partyTradeIdentifier>
			<partyTradeIdentifier>
				<partyReference href="partyB"/>
				<tradeId tradeIdScheme="http://www.swapswire.com/spec/2001/trade-id-1-0">37203</tradeId>
			</partyTradeIdentifier>
			<tradeDate>2002-08-23</tradeDate>
		</tradeHeader>
		<creditDefaultSwap>
			<generalTerms>
				<effectiveDate>
					<unadjustedDate>2002-08-28</unadjustedDate>
					<dateAdjustments>
						<businessDayConvention>NONE</businessDayConvention>
					</dateAdjustments>
				</effectiveDate>
				<scheduledTerminationDate>
					<adjustableDate>
						<unadjustedDate>2004-08-28</unadjustedDate>
						<dateAdjustments>
							<businessDayConvention>MODFOLLOWING</businessDayConvention>
							<businessCenters>
								<businessCenter>GBLO</businessCenter>
								<businessCenter>USNY</businessCenter>
							</businessCenters>
						</dateAdjustments>
					</adjustableDate>
				</scheduledTerminationDate>
				<sellerPartyReference href="partyA"/>
				<buyerPartyReference href="partyB"/>
				<dateAdjustments>
					<businessDayConvention>MODFOLLOWING</businessDayConvention>
					<businessCenters>
						<businessCenter>GBLO</businessCenter>
						<businessCenter>USNY</businessCenter>
					</businessCenters>
				</dateAdjustments>
				<referenceInformation>
					<referenceEntity id="referenceEntity">
						<entityName>Banco Nacional de Desenvolvimento Economico E Social - BNDES</entityName>
						<entityId entityIdScheme="http://www.fpml.org/spec/2003/entity-id-RED-1-0">05EF75</entityId>
					</referenceEntity>
					<referenceObligation>
						<bond>
							<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">US059614AG22</instrumentId>
							<couponRate>0.065</couponRate>
							<maturity>2006-06-15</maturity>
						</bond>
						<primaryObligorReference href="referenceEntity"/>
					</referenceObligation>
					<referencePrice>1.0</referencePrice>
				</referenceInformation>
			</generalTerms>
			<feeLeg>
				<periodicPayment>
					<paymentFrequency>
						<periodMultiplier>6</periodMultiplier>
						<period>M</period>
					</paymentFrequency>
					<firstPaymentDate>2003-02-28</firstPaymentDate>
					<rollConvention>28</rollConvention>
					<fixedAmountCalculation>
						<calculationAmount>
							<currency>USD</currency>
							<amount>1800000.0</amount>
						</calculationAmount>
						<fixedRate>0.365</fixedRate>
						<dayCountFraction>ACT/360</dayCountFraction>
					</fixedAmountCalculation>
				</periodicPayment>
			</feeLeg>
			<protectionTerms>
				<calculationAmount>
					<currency>USD</currency>
					<amount>1800000.0</amount>
				</calculationAmount>
				<creditEvents>
					<bankruptcy/>
					<failureToPay>
						<gracePeriodExtension/>
						<paymentRequirement>
							<currency>USD</currency>
							<amount>1000000.0</amount>
						</paymentRequirement>
					</failureToPay>
					<obligationAcceleration/>
					<repudiationMoratorium/>
					<restructuring>
						<restructuringType>R</restructuringType>
					</restructuring>
					<defaultRequirement>
						<currency>USD</currency>
						<amount>10000000.0</amount>
					</defaultRequirement>
					<creditEventNotice>
						<notifyingParty>
							<buyerPartyReference href="partyB"/>
							<sellerPartyReference href="partyA"/>
						</notifyingParty>
						<publiclyAvailableInformation>
							<standardPublicSources/>
							<specifiedNumber>2</specifiedNumber>
						</publiclyAvailableInformation>
					</creditEventNotice>
				</creditEvents>
				<obligations>
					<category>Bond</category>
					<notSubordinated/>
					<notDomesticCurrency/>
					<notDomesticLaw/>
					<notDomesticIssuance/>
				</obligations>
			</protectionTerms>
			<physicalSettlementTerms>
				<settlementCurrency>USD</settlementCurrency>
				<physicalSettlementPeriod>
					<businessDaysNotSpecified/>
				</physicalSettlementPeriod>
				<deliverableObligations>
					<accruedInterest>false</accruedInterest>
					<category>Bond</category>
					<notSubordinated/>
					<specifiedCurrency/>
					<notDomesticLaw/>
					<notContingent/>
					<notDomesticIssuance/>
					<transferable/>
					<maximumMaturity>
						<periodMultiplier>30</periodMultiplier>
						<period>Y</period>
					</maximumMaturity>
					<notBearer/>
				</deliverableObligations>
				<escrow>true</escrow>
			</physicalSettlementTerms>
		</creditDefaultSwap>
		<calculationAgent>
			<calculationAgentPartyReference href="partyA"/>
		</calculationAgent>
		<calculationAgentBusinessCenter>USNY</calculationAgentBusinessCenter>
		<documentation>
			<masterAgreement>
				<masterAgreementType>ISDA1992</masterAgreementType>
			</masterAgreement>
			<contractualDefinitions>ISDA1999Credit</contractualDefinitions>
			<contractualTermsSupplement>
				<type>ISDA1999CreditSuccessorAndCreditEvents</type>
			</contractualTermsSupplement>
			<contractualTermsSupplement>
				<type>ISDA1999CreditConvertibleExchangeableAccretingObligations</type>
			</contractualTermsSupplement>
		</documentation>
	</trade>
	<party id="partyA">
		<partyId>XYZBICXXX</partyId>
		<partyName>XYZ Bank</partyName>
	</party>
	<party id="partyB">
		<partyId>ABCBICXXX</partyId>
		<partyName>ABC Bank</partyName>
	</party>
</FpML>
