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GOL Ranked Second in Latin American Corporate Governance Study

Written by thomas · Filed Under Commercial 

June 13, 2008

thomas

GOL is the only airline ranked in study by Spanish consulting group

SAO PAULO, Brazil, June 12 /PRNewswire-FirstCall/ — GOL Linhas Aereas
Inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4), the parent company of
Brazilian airlines GOL Transportes Aereos S.A. and VRG Linhas Aereas S.A.,
announces that the Company was ranked second among non-bank companies in a
Latin American corporate governance study (“The Best Governed Major Latin
Corporations 2008”), conducted by Spanish sustainability consulting group
Management & Excellence (M&E). According to the study, conducted in
partnership with LatinFinance magazine, GOL employs 90.2% of the required
positive corporate governance practices included in the analysis, compared
to an average score of 62.34% by the 50 companies included in the research.
GOL is the only airline named in the M&E report.

The study analyzed how companies’ corporate governance programs perform
against 41 accepted standards of corporate governance used worldwide by
both institutional and private investors. The report speaks to the
Brazilian market’s strong emphasis on corporate governance, as 18 of the
first 25 companies are based in Brazil.

“Recognition as having one of the best corporate governance programs
among all Latin American companies is proof that the Company remains
committed to transparency and equality among all shareholders and the
public,” says Constantino de Oliveira Junior, GOL Linhas Aereas
Inteligentes’ CEO.

Listed on the Bovespa and New York Stock Exchange since 2004, GOL is
recognized as a company focused on maintaining high standards of corporate
governance. The Company’s corporate governance committee is charged with
monitoring the company’s internal procedures and advising the Board of
Directors on “best practices” in both the Brazilian and global aviation
industries.

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