BANCO DE GALICIA Y BUENOS AIRES S.A.

                                                   Buenos Aires, August 26, 2009

Comision Nacional de Valores
(National Securities Commission)
25 de Mayo 175
(C1002ABC) Buenos Aires

                                    Ref.: Banco de Galicia y Buenos Aires S.A. -
                                    Material Information

Dear Sirs,

               In my capacity as Responsible for Market Relations of Banco de
Galicia y Buenos Aires Sociedad Anonima (the "Bank"), I am writing in connection
with the ordinary negotiable obligations, not convertible into shares,
unsecured, denominated in US Dollars, Class A, due in 2014 (the "Class A
Negotiable Obligations"), issued under Banco Galicia's US$2,000,000,000 Global
Medium Term Note Program, and regulated by the indenture dated May 18, 2004 and
the amendment dated October 5, 2004, among Banco Galicia and Banco Rio de la
Plata S.A. (at present Banco Santander Rio S.A.) and The Bank of New York (at
present The Bank of New York Mellon) (the "Indenture").

               Today the Board of Directors of Banco Galicia decided to offer to
purchase for cash (the "Offer to Purchase") any and all of its outstanding Class
A Negotiable Obligations, in order to purchase and to cancel all the outstanding
Class A Negotiable Obligations, for an aggregate outstanding principal amount of
US$ 243,770,779. The Offer to Purchase will also include a consent solicitation
from the holders of Class A Negotiable Obligations to amend certain terms and
conditions of the Indenture and of the Class A Negotiable Obligations.

               The Offer to Purchase will be in force from August 27, 2009 to
September 25, 2009, unless Banco Galicia decides to extend it, to amend it or to
terminate it, and will be implemented in accordance with the Offer to Purchase
and Consent and Proxy Solicitation Statement, which will be promptly submitted
with informative purposes to the Comision Nacional de Valores (the National
Securities Commission) and to the other corresponding stock exchanges and
markets.

               Beginning on August 27, 2009, the Offer to Purchase and the
Consent and Proxy Solicitation Statement will be available to Class A Negotiable
Obligations holders at Banco Galicia's Head Office, at 407 Tte. Gral. Juan D.
Peron Street, mezzanine, Buenos Aires.

Yours faithfully,

                               -------------------
                                Patricia Lastiry
                        Responsible for Market Relations