Petrobras – Investor Relations

Petrobras

Investor Relations

Suzano Petroquímica Acquisition - End of the period of the withdrawal right

(Rio de Janeiro, December 28, 2007). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, clarifies, complementing the Market Announcement published on November 13 2007 regarding the payment of possible reimbursements to shareholders holding ordinary shares issued by the Company due to manifestations of the exercise of the right to withdraw derived from the approval, during the Company’s Extraordinary General Meeting held on October 29 2007, of the ratification of the Share Purchase & Sale Agreement” dated August 03 2007, signed between the indirect controlling shareholders of Suzano Petroquímica S/A (sellers) and Petróleo Brasileiro S/A (buyer), the minutes of which were published on November 27 2007 in the Rio de Janeiro State Official Gazette, in the Gazeta Mercantil (São Paulo), Jornal do Commercio (Rio de Janeiro), and in the Valor Econômico (São Paulo) newspapers, the following:

In compliance with the terms of Article 137 of Law 6.404/76, in the 30 (thirty) days after the publication of the mentioned Meeting’s respective Minutes, i.e., up to December 27 2007, no shareholder holding ordinary shares issued by the Company made any express manifestation to exercise his/her right to withdraw.

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