'Whereas, by letter of September 4, 2003, the Claimant requested an extension of time of one month in order to file its Brief on the merits, due originally by September 30, 2003 according to the Provisional Timetable established in Procedural Order No. 1;

Whereas the reasons alleged by Counsel of the Claimant were the difficulties it encountered in constructing the database of this case due to the enormous amount of documents, the time it took to appoint an expert to assist it, and stability problems in Venezuela that impacted its client's ability to give instructions and assist in the preparation of the claims;

Whereas the Claimant stressed that it did not oppose a similar extension being granted to the Respondents;

Whereas the Claimant alleged that, in the circumstances, the requested extension of one month is not unreasonable;

Whereas the Claimant relied on Article 15(2) of the ICC Rules of Arbitration;

Whereas by letter of September 4, 2003, the Arbitral Tribunal invited the Respondents to comment on the above-mentioned request;

Whereas by e-mail of September 7; 2003, the Respondents answered that they opposed the extension of time being granted to the Claimant;

Whereas it was the Respondent's view that the timetable agreed upon by the parties with the Arbitral Tribunal ought to be strictly adhered to, that the arguments presented by the Claimant were not based on things beyond its control and unknown to the Claimant when the provisional timetable was agreed upon, and that the Claimant had ample time since the submission of the Request for Arbitration to prepare its case;

Whereas the Respondents added that they had planned their schedule on the basis of the timetable agreed;

Whereas, as it was stressed by the Respondents, the Provisional Timetable was agreed upon by the parties with the Arbitral Tribunal;

Whereas the Arbitral Tribunal concurs with the Respondents that the arguments raised by the Claimant were not based on facts that were totally beyond its control, and that it could have anticipated;

Whereas it is also true that an extension of time of one month would disturb the Respondents' working schedule based on the agreed timetable;

Whereas, in these circumstances, the extension of time of one month requested by the Claimant seems excessive to the Arbitral Tribunal;

Whereas, however, according to Article 15(2) of the ICC Rules of Arbitration, the Arbitral Tribunal has to ensure that each party has a reasonable opportunity to present its case;

Whereas the Arbitral Tribunal considers that an extension of time of about two weeks, granted to the Claimant and also the Respondents for the submission of their Briefs would not be of a nature to disrupt the timetable agreed upon, but would further help the parties to present their full case;

Whereas therefore, according to Article 15(2) of the ICC Rules of Arbitration:

The Arbitral Tribunal decides as follows:

a) The Arbitral Tribunal decides to grant the Claimant an extension of time of 17 days for the submission of its Brief on the merits. The Respondents will benefit of [sic] the same extension of time for the submission of their Defense and Counterclaim.

b) Accordingly, the Provisional Timetable of Procedural Order 1 is modified as follows:

1. The Claimant shall submit by October 17, 2003 a full Statement of its case. This shall contain all the Claimant's factual and legal allegations, the documentary evidence at the disposal of the Claimant on which it relies, and the name of the witnesses and/or experts it wishes to call in these proceedings;

2. The Respondents shall present by January 23, 2004 a full Statement of Defence, as well as their detailed Counterclaim. This brief shall contain all the Respondents' factual and legal allegations (in defence, and for the Counterclaim), the documentary evidence at the disposal of the Respondents on which they rely and the name of witnesses and/or experts they wish to call in these proceedings;

With this Brief, the Respondent shall submit their full case on their request for security for costs, if maintained;

3. By February 9, 2004, the Claimant may submit a request for production of documents;

4. By February 20, 2004, the Claimant shall present its answer to the Respondents' request for security for costs, if any;

5. By February 23, 2004, the Respondents shall comment the Claimant's request for production of documents, if any;

6. A conference call will be held between the Arbitral Tribunal and the parties in the first part of March in order to decide further proceedings, at a date to be fixed in the next [sic] future.'