Petrobras – Investor Relations


Investor Relations

Shelf Registration of Petrobras is approved by Securities and Exchange Comission - SEC

(Rio de Janeiro, July 29, 2005). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA], a Brazilian international energy company, announces that, its Board of Directors was informed today that the U.S. Securities and Exchange Commission – SEC – approved in July 28 the Shelf Registration to issue securities, fixed income or equity, in an aggregate principal amount of up to US$ 6.5 billion, during the next 24 months by Petrobras and its subsidiary Petrobras International Finance Company.

This is a common procedure among companies of the same size, resulting in a pre-register of potential issuances for the next two years, thereby optimizing the documentation required for each offering and providing Petrobras with greater flexibility and agility to access the international capital markets.

The Company has stated that the volume of the prospective offerings will be consistent with the capital expenditures of Petrobras in the near future and within the financial leverage limits established in its strategic plan.

We would like to inform that Petrobras filed the report Form 20-F at the Securities and Exchange Comission – SEC, on June 30 2005, as it is required of all companies listed at the New York Stock Exchange – NYSE. The Form 20-F is a report that consolidates information about the Company that reflects the transparency of its business with accounting, financial, operational, strategic, statutory, legal and managerial information and it is incorporated by reference to the Shelf Registration’s register, as required by the American law.

With the conclusion of all of the procedures and legal registers required by the SEC, Petrobras from now on will be apt to access the international market, at its convenience. The present press release does not constitute an offering of securities. Offerings of securities will be made according to a prospectus and respective supplement.

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