Robbins Geller Rudman & Dowd LLP ("Robbins Geller") (http://www.rgrdlaw.com/cases/ypf/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the American Depositary Shares ("ADSs") of YPF Sociedad Anonima ("YPF" or the "Company") (NYSE:YPF) pursuant and/or traceable to the Company's March 23, 2011 offering (the "Offering") seeking to pursue remedies under the Securities Act of 1933 (the "Securities Act").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/ypf/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges YPF, certain of its officers and directors and the underwriters of the Offering with violations of the Securities Act. YPF describes itself as "Argentina's leading energy company, operating a fully integrated oil and gas chain with leading market positions" in the exploration, development and production of crude oil, natural gas and liquefied petroleum gas, and the refining, marketing, transportation and distribution of energy based products.

On or about November 26, 2010, YPF filed a Form F-3 Registration Statement (the "Registration Statement") for the Offering with the SEC. On or about March 23, 2011, the Prospectus with respect to the Offering, which forms part of the Registration Statement, became effective and more than 26.2 million shares of YPF ADSs were sold to the public at $41 per share, thereby valuing the total size of the Offering at more than $1 billion.

The complaint alleges that the Registration Statement, and the documents referenced and incorporated therein, contained numerous untrue statements of material facts and omitted to state material facts required to be stated therein in order to make the statements contained therein not misleading. Specifically, the complaint alleges that the Registration Statement failed to disclose and misrepresented the following adverse facts, among others, which existed at the time of the Offering: (i) that the Company faced a risk of nationalization by the Argentinean government; (ii) that the risk of nationalization had increased because of the Company's failure to: (a) adequately produce oil and gas within Argentina; and (b) reinvest a substantial portion of its profits back into the Company and its operations; (iii) that the Company was in breach of its concession contracts with various Argentinean provinces; and (iv) that nationalization by the Argentinean government would likely have a severe adverse effect on shareholders and on the Company's market value. According to the complaint, the instructions and regulations that govern the preparation of the Registration Statement require that YPF disclose the facts detailed above. The Registration Statement, however, failed to include these material facts.

Plaintiff seeks to recover damages on behalf of all purchasers of YPF ADSs pursuant or traceable to the Company's March 23, 2011 Offering (the "Class"). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller represents U.S. and international institutional investors in contingency-based securities and corporate litigation. With nearly 200 lawyers in nine offices, the firm represents hundreds of public and multi-employer pension funds with combined assets under management in excess of $2 trillion. The firm has obtained many of the largest recoveries and has been ranked number one in the number of shareholder class action recoveries in MSCI's Top SCAS 50 every year since 2003. According to Cornerstone Research, the firm's recoveries have averaged 35% above the median for all firms over the past seven years (2005-2011). Please visit http://www.rgrdlaw.com for more information.

Robbins Geller Rudman & Dowd LLP
Samuel H. Rudman, 800-449-4900
or
David A. Rosenfeld
djr@rgrdlaw.com