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398 For the Bank: International Bank for Reconstruction and Development, 1818 H Street, N. W., Washington 25, D. C., United States of America.

, the parties hereto, acting through their representatives thereunto duly authorized, have caused this Loan Agreement to be signed in their respective names and delivered in the District of Columbia, United States of America, as of the day and year first above written.

Internatioanl Bank for Reconstruction and Development

bBy Eugene R.

President

Vorarlberger Illwerke Aktiengesellschaft

By

Authorized Representative

SCHEDULE 1

No. 531