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GOL Requests Anac Approval For Corporate Reorganization

Written by thomas · Filed Under Commercial 

July 31, 2008

thomas

SAO PAULO, Brazil, July 30 /PRNewswire-FirstCall/ — GOL Linhas Aereas
Inteligentes S.A. (“GOL”, a listed company enrolled under CNPJ No.
06.164.253/0001-87, N.I.R.E. 35.300.314.441, Bovespa: GOLL4 and NYSE: GOL),
the parent company of Brazilian airlines GOL Transportes Aereos S.A.
(“GTA”) and VRG Linhas Aereas S.A. (“VRG”), in compliance with Paragraph 4,
Article 157, Law no. 6.404/76 and CVM Instruction no. 358/02, announces
that it today submitted to the National Civil Aviation Agency (Anac) a
request for authorization for a corporate restructuring of its
subsidiaries, GTA and VRG (“Reorganization”), to combine them into a single
airline company (“Airline Company”).

The acquisition of VRG by GTI S.A., a wholly-owned subsidiary of GOL,
was approved by the Brazilian Antitrust Agency (Cade) on June 25, 2008.

The proposed Reorganization, which aims to improve GOL’s operational
structure, will provide more efficient air transportation services through
the integration of GTA and VRG’s operations as the company explores
synergies, broadens and improves service offerings.

The proposed Reorganization will simplify the corporate structure of
GOL’s subsidiaries, maximizing administrative efficiencies, optimizing
revenues and reducing financial and operational costs, besides greater
operational flexibility.

Under the proposed Reorganization, the Airline Company will respect VRG
and GTA’s current rights and obligations, maintaining the “GOL” and “VARIG”
brands.

The effective consummation of the Reorganization is dependent upon
Anac’s approval, under the terms of Article 186 of the Brazilian
Aeronautics Code and other preceding conditions. GOL will continue to
release information regarding Anac’s decision and all progress with the
proposed Reorganization.

About GOL Linhas Aereas Inteligentes S.A.

GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4) is
the parent company of Brazilian airlines GOL Transportes Aereos S.A. and
VRG Linhas Aereas S.A. GTA offers over 640 daily flights to 56 destinations
connecting the most important cities in Brazil as well as the main
destinations in South America. VRG offers over 120 daily flights to 14
destinations in Brazil.

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