THE WHITE HOUSE

Office of the Press Secretary

                    TEXT OF A LETTER FROM THE PRESIDENT
           TO THE CHAIRMAN OF THE COMMITTEE ON FOREIGN RELATIONS

December 29, 1999

Dear Mr. Chairman:

In accordance with the resolution of advice and consent to ratification of the Convention Between the Government of the United States of America and the Government of the Republic of Venezuela for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital, together with a Protocol, adopted by the Senate of the United States on November 5, 1999, I hereby certify that:

In connection with Declaration (1), New Venezuelan Tax Law:

     (i)       the new Venezuelan tax law has been enacted in accordance
               with Venezuelan law;

     (ii)      the Department of Treasury, in consultation with the
               Department of State, has thoroughly examined the new
               Venezuelan tax law; and

     (iii)     the new Venezuelan tax law is fully consistent with and
               appropriate to the obligations under the Convention.

                              Sincerely,

WILLIAM J. CLINTON

# # #