Issuer . . . . . . . . . . . . . . ‘. . . : Republic of Venezuela Title of Security . . . . . . . . . . . 135/8% Global Bonds due 2018

 The following summary is quakjied in its entirety’ by, and should be read in conjunction with, the more detailed

information appearing elsewhere in this Prospectus Supplement and the Prospectus.

Issuer . . . . . . . . . . . . . . ‘. . . : Republic of Venezuela

Title of Security . . . . . . . . . . . 135/8% Global Bonds due 2018

,Aggregate Principal Amount . . . u.s.$500,000,000

Maturity Date . . . . . . . . . . . . . August 15, 2018

Interest Rate . . . . . . . . . . . . . . 13%% per annum

Interest Payment Dates . . . . . . . February 15 and August 15 of each year, commencing February 15, 1999

Issue price . . . . . . . . . . . . . . . 97.639% of principal amoullt

Payment of Principal and

Interest . . . . . . . . . . . . . . . . . Principal of and interest and additional amounts, if any, on the Global Bonds

will be payable in U.S. dollars or in such other coin or currency of the United

States of America as at the time of payment is legal tender for the payment

therein of public and private debts and will be made available at the office of

the Fiscal Agent (as defined herein) in The City of New York as set forth in the

Prospectus under “Description of the Debt Securities-Global Securities”.

So long as the Global Bonds are represented by a Book-Entry Security (as

defined below), payment of principal thereof and interest and additional

amounts, if any, thereon to investors shall be made through the facilities of

DTC as set forth under “Description of the Global Bonds-Form,

Denomination and Registration” and “-Payment” in this Prospectus

Supplement and under “Description of the Debt Securities-Global

Securities” in the Prospectus.

Status . . . . . . . . . . ..‘...... The’ Global Bonds will constitute direct, unconditional and general

obligations of the Republic and will rank pari passu without any preference

among themselves. The payment obligations under the Global Bonds will at

all times rank at least equally with all other payment obligations of Venezuela

relating to unsecured and unsubordinated External Public Debt of the

Republic. See “Description of the Debt Securities-Status of the Debt

Securities” in the Prospectus.

Negative Pledge . . . . . . . . . . . . The Global Bonds will contain certain covenants, including, without

limitation, restrictions on the incurrence of certain Liens. See “Description of

the Debt Securities-Negative Pledge” in the Prospectus.