Petrobras – Investor Relations


Investor Relations

Notice of Shareholders` Meeting

A Publicly Held Company
CNPJ/MF no 33.000.167/0001-01
NIRE no 33300032061


The Board of Directors of Petróleo Brasileiro S.A. – PETROBRAS hereby gives notice to Shareholders that the Ordinary Meeting will be held on March 31 2005 at 3:00 p.m. in the auditorium of the Company’s head office at Avenida República do Chile 65, 1st floor in the City and State of Rio de Janeiro for the purpose of deliberating on the following matters:

Annual General Meeting

I. Management Report, Financial Statements and Audit Committee’s Opinion for the fiscal year 2004;
II. Capital Expenditure Budget for the fiscal year 2005;
III. Distribution of results for the fiscal year 2004;
IV. Election of members of the Board of Directors, Audit Board and their respective substitutes;
V. Election of Chairman of the Board of Directors; VI. Establishment of the compensation of management and effective members of the Audit Committee, as well as their participation in the
profits pursuant to Articles 41 and 56 of the Company’s Bylaws.

2. The minimum percentage of the voting capital necessary to apply for multiple voting rights for the purpose of electing members of the Board of Directors at the Ordinary General Meeting is 5% (five per cent) of the voting capital pursuant to CVM Instruction 282 of June 26 1998. Application for exercising multiple voting rights must be made by 3:00 p.m. on March 29 2005.

3. The shareholders, who are holders of preferred shares, with rights that shall make them eligible at the Ordinary General Meeting to elect, via a separate vote, a representative of this class of shareholders as a members of the Board of Directors, must represent at least 10% (ten
percent) of the capital stock, as well as prove uninterrupted ownership of the share ownership since December 31 2004.

4. The Shareholder wishing to be represented at the aforesaid Meetings must comply with the provisions of Article 126, Paragraph 1 of the Joint Stock Corporation Law and Article 13 of the Company’s Bylaws, presenting at the meeting, or, preferably by delivering, the appropriate proxy document containing specific powers to room 401-F (Shareholder Support Services) at the Company’s Head Office by 5:00 p.m. on March 29 2005.
Rio de Janeiro, February 25, 2005.

Dilma Vana Rousseff
President of the Board of Directors
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