MULTILATERAL INVESTMENT GUARANTEE AGENCY

                                  COUNCIL OF GOVERNORS



                                        Resolution No. 21

                     Amendment of Schedule A to the MIGA Convention
                                   Republic of Yemen


   WHEREAS the Government of the Republic of Yemen on November 21, 1990 informed the
Multilateral Investment Guarantee Agency (the “Agency�) of the merger on May 22, 1990 of the
Yemen Arab Republic and the People's Democratic Republic of Yemen into a single state,
“Republic of Yemen,� and advised that the Republic of Yemen accepts as binding upon it the
signature on October 1, 1986, and the ratification on January 10, 1990, of the Convention
Establishing the Multilateral Investment Guarantee Agency (the “Convention�) by the Yemen Arab
Republic, and confirmed the calculation of the Republic of Yemen's shares of the Agency's capital
stock at 155 and the amount of its capital subscription at SDR 1,550,000;

   WHEREAS, Schedule A to the Convention needs to be amended to reflect these changes;

  WHEREAS, pursuant to Article 59(b) of the Convention, Schedule A to the Convention may be
amended by the Council of Governors by special majority;

   NOW, THEREFORE, the Council of Governors hereby

RESOLVES that Schedule A to the Convention is hereby amended by:

(a) deleting: (i) “Yemen Arab Republic� and “Yemen, People's Democratic Republic of� from the
list of Category Two countries and (ii) the number of shares and the amount of subscription in
millions of SDR set forth opposite the name of each of these countries; and

(b) adding: (i) “Yemen, Republic of� to the list of Category Two countries and (ii) “155� under the
number of shares and “1.55� under the amount of subscription in millions of SDR set forth
opposite the name of this country.



                                                                  (Adopted on September 3, 1991)