VI - financial statements for the last financial year or drawn up in a posterior date to end of the last financial year in constant currency, in the terms of the regulation issued by the CVM;

• See CVM Instruction 248 of March 29, 1996.

VIII - the independent auditor’s opinion, who shall be properly registered with the CVM, concerning the financial statements from the last fiscal year (item V) and the financial statements mentioned in item VI above;

• See CVM Instruction 248 of March 29, 1996.

• See CVM Instruction 248 of March 29, 1996.

XI - the minutes of all shareholders meetings which occurred on the 12 (twelve) months period preceding the date of registration with the CVM;

XII - a facsimile of the certificates for all types of securities issued by the company or, if applicable, a copy of the contract agreed with the respective registrar of companies services provider;

XIII - in case of a company at a pre-operational phase, a feasibility study on the economic-financial aspects of the project, which shall state the risk factors involved in the venture, drawn up on a date preceding by up to three months the date the request for registration was made to the CVM;

XIV - Annual Information Form - IAN (articles 22 and 23);

• See article 4 of CVM Instruction 346 of September 29, 2000.

XV - Standardized Financial Statements (Demonstrações Financeiras Padronizadas – DFP), drawn up in constant currency (articles 22 and 23);

• See article 1, item I, letter "b" and article 2 of CVM Instruction 245 of March 1, 1996, and articles 4 and 5 of CVM Instruction 346 of September 29, 2000.

Article 8. The presentation of forecasts is optional, but, when they are released, the company shall follow the following proceedings:

I – to present, clearly, for each of the forecasted items and timeframes, the correspondent methodology used in the calculations and assumptions;

II – to present, when providing the quarterly information mentioned in article 16, item VIII, a comparison between the forecasts and the actual results which were obtained during the quarter, indicating clearly and exactly the reasons which led to deviations between the forecasts and the actual results;

Article 9. It is recommended but not compulsory that information should be given on:

I - the capital structure; and

II - a managerial analysis.

Sole Paragraph. Definitions:

EXAMINATION OF THE COMPANY´S REGISTRATION

Article 10. The registration will be regarded as automatically granted whether its request is not refused within 30 (thirty) days after its receipt by the CVM, due protocol confirmation, together with the required documents and information.

Sole Paragraph. The failure in presenting all the required documents set forth in article 7 of this Instruction will lead to the disregard of the request for registration and its cancellation.

Article 11. The deadline of 30 (thirty) days may be interrupted on just one occasion if the CVM seeks additional documents and information relative to the request for registration to become a publicly-held company or the request for registration of the public offering (article 4). Once such information has been fulfilled, a new deadline of 30 days will begin.

Paragraph 1. In order to the company fulfill such additional information, a timeframe not exceeding 60 (sixty) days will be granted, beginning from the date of receipt of the respective correspondence, and after which the request will be cancelled.

Paragraph 2. Whether the information is fulfilled before 15 (fifteen) days have passed after the original request for registration, the interruption mentioned in the caput of this article will not apply.

Article 12. Revoked by CVM instruction 373 of June 28, 2002.

Article 13. Once the registration has been granted, the company shall follow the proceedings below:

I - send to the CVM, to the stock exchange where its securities were originally admitted, to the stock exchange where they were most traded during the last fiscal year, and to other exchanges requesting them, periodical and occasional information envisaged by articles 16 and 17 of this Instruction within the established deadlines;

II – make the information mentioned in item I available to the securities owners, at the shareholders department of the company; and

III – update the CVM with any modification in the company register informations, within five days after such modification occurs.

• Sole paragraph revoked by CVM instruction 358 of January 3, 2002.

Article 14. All information received by the CVM will be of public nature, except those classified by the company as confidential.

Paragraph 2. If the directors choose not to release the information, they shall give the reasons which induced them to believe that such disclosure would be a risk for the company’s legitimate interests.

Paragraph 3. When companies send confidential information to the CVM, they shall do so in a separate document addressed to the Chairman of the CVM in a sealed envelope, on which the word "Confidential" shall appear.

Article 15. The CVM will only consider a request for registration of public offering, or any other pledge, if the company keeps its registration updated under the terms of article 13 of this Instruction.

Article 16. The Company should provide, under the conditions of article 13 of this Instruction, the following periodical information within the specified timeframes:

I – financial statements and, if this is the case, consolidated statements drawn up in accordance with the provisions of Law 6.404 of December 15, 1976, and rules issued by the CVM, followed by the Management Report and the independent auditor’s opinion:

1. up to three months from the end of the financial year; or
2. on the same day of its publication in the press or availability to shareholders, if this occurs prior to item "a" herein.

• Item I, items "a" and "b", with the wording amended by CVM Instruction 351 of April 24, 2001.
• See CVM Instruction 248 of March 29, 1996.

II - Standardized Financial Statements (Demonstrações Financeiras Padronizadas– DFP), within the periods established by item I of this article;

• Item II with the wording amended by CVM Instruction 351 of April 24, 2001.
• See CVM Instruction 248 of March 29, 1996.

III - summons to call the annual shareholders meeting on the same day as it is published in the Press;

IV – Annual Information Form (Formulário de Informações Anuais – IAN):

1. up to five months after the end of the financial year; or
2. up to one month from the date the annual Ordinary Stockholders’ General Meeting is held if this date falls before the one set forth in item "a" herein.

• Item IV, items "a" and "b", with the wording amended by CVM Instruction 351 of April 24, 2001.
• See article 4 of CVM Instruction 346 of September 29, 2000.

V - a summary of the decisions taken by the annual Ordinary Stockholders’ General Meeting on the day after it was held;

VI - the minutes of the annual Ordinary Stockholders’ General Meeting within 10 (ten) days after it was held, with references to the dates and newspapers of its publication, if this has already occurred;

VII - a facsimile copy of the certificates for securities issued by the company if there have been any amendments to those sent earlier, within 10 (ten) days after the alteration(s);

VIII - Quarterly Information Report (Informações Trimestrais – ITR) - drawn up in constant currency, accompanied by the Special Revision Report (item XVI of the article 7 of this Instruction) issued by an independent auditor registered with the CVM, within 45 (forty-five) days after the completion of each quarter (except the last one) of the fiscal year or when the company releases such information to shareholders or third-parties, in the circumstance it occurs first.

• See article 1, item I, letter "b", and item V, and article 2 of CVM Instruction 245 of March 1, 1996, and articles 4 and 5 of CVM Instruction 346 of September 29, 2000.

Paragraph 1. If the company is still in a pre-operational phase, it shall provide, together with the Annual Information Form - IAN updated information on the progress of the project originally filed with the CVM when the request for registration was made.

Paragraph 2. If the company has been declared bankrupt, the trustee should provide semi-annual information on terms, completed stages, selling of assets, income, payments and other material information for the securities market, within 45 (forty-five) days after the end of each semester.

Paragraph 3. If the company goes into administrative liquidation, the information referred to in the previous paragraph shall be supplied within 45 (forty-five) days after the end of each quarter of the financial year.

Paragraph 5. For the purposes of the paragraph above, the 30 (thirty) days period established in item IV of this article will be counted from the end of the legal deadline for the holding of the annual Ordinary Stockholders’ General Meeting.

Paragraph 6. Corporations may send the information mentioned in items III, V and VI of this article by facsimile or telex, which shall contain the register information provided in the Periodical and Occasional Information Forms - IPE. All information shall be filed using the correspondent standardized form and within the deadlines.

Paragraph 7. The Annual Information Form – IAN shall be updated whenever any event occurs altering the information provided under the terms of item IV of this article, within 10 (ten) days from the occurrence of the event.

• Paragraph 7 added by CVM Instruction 351 of April 24, 2001.

Article 17. The Company shall provide, according to the means set forth in article 13 of this Instruction, the following occasional information within the stipulated deadlines:

I - summons to call Special or Extraordinary Shareholders General Meeting, on the same day it is published;

II - a summary of the decisions taken by the Special or Extraordinary Shareholders General Meeting, on the day after the meeting has been held;

III - the minutes of the Special or Extraordinary Shareholders General Meeting, within 10 (ten) days after the meeting has been held;

VII - information on forced agreement with creditors, its grounds, financial statements especially drawn up to obtain such legal privileges and, if applicable, the situation of debentures holders in relation to their earnings rights, on the same day as the court receives the suit;

VIII – court decision on the forced agreement with creditors, on the same day the company becomes aware of it;

IX - information on a request or confession of bankruptcy, on the same day the corporation becomes aware of it or when the request is made to the court, respectively;

X - the judgment declaring bankruptcy, with the nomination of the trustee, on the same day the company is aware;

XI - other information requested by the CVM, within the timeframe set by it.

• See CVM Instruction 248 of March 29, 1996.

Sole Paragraph. For sending occasional information within the deadlines fixed by the items I and XI of this article, the provisions set forth in paragraph 6 of article 16 apply.

Article 18. Without prejudice of the administrators’ liability, in the terms of the article 9, item V and article 11 of Law 6.385 dated December 7, 1976, with the wording amended by Law 9.457 dated May 5, 1997, and by article 2 of MP 1.742-18 dated June 2, 1999, a publicly-held company which omits to update its registration within the terms set forth in articles 13, 16 and 17 of this instruction will be subject to a daily fine as stated at the tables below:

• "Caput" with the wording amended by CVM Instruction 309 of June 10, 1999.

I - Financial Statements

II - Standardized Financial Statements (DFP)

 III - Documents and Information related to article 16 - III and V to VII

 IV - Annual Information Form - IAN - article 16 - IV and Quarterly Information Report – ITR - article 16 - VIII

 V - Documents and Information provided for in article 17, items I to X

Paragraph 1. The Net Worth shall be the one calculated on December 31st of the preceding year of the application of the fine.

• Paragraph 1 added by CVM Instruction 309 of June 10, 1999.

Paragraph 2. In case the net worth is zero or negative at the date provided at the above paragraph, the fine will be charged for the lower value stated in the respective table.

• Paragraph 2 added by CVM Instruction 309 of June 10, 1999.

Article 19. It is considered objective violation of regulation, under which shall be executed the summary administrative procedure (in accordance with the Annex attached to CMN Resolution 1.657/89), when the administrator of the company does not adopt the proceedings listed in article 13, items I to III, except under the circumstance set forth in article 17, item VI of this Instruction.

Sole Paragraph. It is considered as serious violation for the purposes of paragraph 3 of article 11 of Law 6.385 of December 7, 1976:

I – The violation of article 17, item VI of this Instruction;

III – The repetition of the objective violations defined in the caput of this article.

• Article 19 and sole paragraph with the wording amended by CVM Instruction 238 of October 11, 1995.

Article 20. The registration with the CVM does not imply any judgment of the company; its administrators are accountable for the truth of the information given.

Article 21. A company registered within the terms of this Instruction shall declare its condition of publicly-held company in the publications stipulated by the Corporation Law and by other regulation concerned with the securities market.

Article 22. The following information shall be provided by electronic means, with software supplied by the CVM:

I - Standardized Financial Statements – DFP (article 16, item II);

II - Annual Information Form – IAN (article 16, item IV);

III - Quarterly Information Report – ITR (article 16, item VII).

• "Caput" and items I, II and III with the wording amended by CVM Instruction 274 of March 12, 1998.

Article 23. Concerning other periodical and occasional information required from companies, two copies printed in A4 papers shall be sent.

Sole Paragraph. The CVM’s C.E.O. has authority to alter, include or suppress the forms and the programs approved by this article.

• Article 23 with the wording amended by CVM Instruction 274 of March 12, 1998.

Article 24. This Instruction will come into effect in January 1, 1994, and from this date onwards CVM Instructions 60, of January 14, 1987, 73, of December 22, 1987, 118, of May 7,1990 and 127, of July 26 1990 are revoked.

CHAIRMAN OF THE BOARD