CONFORMED COPY

                                                    February 14, 2011




                   By/s/ Robert Jauncey

                     Robert Jauncey
                    Acting Director
Papua New Guinea, Timor-Leste and Pacific Island Operations
AGREED
REPUBLIC OF VANUATU

By/s/ Moana Carcasses

Hon. Moana Carcasses
Minister of Finance
March 9, 2011
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