PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Extraordinary General Meeting Approves Stock Split
(Rio de Janeiro, July 22, 2005) - PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA], a Brazilian international energy company, announces to shareholders and investors in general that the Extraordinary General Meeting today examined and approved the following:
I. A stock split representing 300% of the existing shares comprising the Companys capital stock, resulting, without any financial onus to shareholders, in the distribution of 3 (three) new shares of the same type for each 1 (one) in accordance with the shareholding position as of August 31 2005.
II. Alteration of Article 4 of the Company Bylaws, effective from September 1 2005 in the light of item I above. The new wording shall be as follows:
Article 4 The Capital Stock is R$ 32,896,137,750.00 (thirty-two billion, eight hundred and ninetysix million, one hundred and thirty-seven thousand, seven hundred and fifty Reais), divided into 4,386,151,700 (four billion, three hundred and eighty-six million, one hundred and fifty-one thousand, seven hundred) shares with no par value, being 2,536,673,672 (two billion, five hundred and thirty-six million, six hundred and seventy-three thousand, six hundred and seventy-two) common shares and 1,849,478,028 (one billion, eight hundred and forty-nine million, four hundred and seventy-eight thousand, and twenty-eight) preferred shares.
We would also like to inform that as from September 1, the Companys shares will be traded exstock split and the relation between the American Depositary Receipts (ADR) and the underlying shares of each type shall be changed from the existing one share for each ADR to four shares for each ADR.