Part II EXCHANGE OF NOTES

Your Excellency

London

12th July 2003

I have the honour to refer to the Convention between the Government of the Republic of Chile and the Government of the United Kingdom of Great Britain and Northern Ireland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital Gains which has been signed today and to make on behalf of the Government of the Republic of Chile the following proposals: