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BOVESPA: Simplified Registration For International Investors

Date 11/07/2006

Last July 05, the Brazilian Securities and Exchange Commission - CVM has published the Instruction 437, which increases the possibility of adoption of the simplified registration for international investors.

Investors from countries which market regulators are signatory of the Multilateral Memorandum of Understanding of IOSCO will be authorized to register in a simplified manner.

Worth mentioning that, since May 2005, international investors from countries where regulators have a bilateral agreement for exchange of information with the Brazilian CVM, had already been authorized to take advantage of the simplified registration procedures.

To access the list of regulators that settled the cooperation accord with the Brazilian CVM, please check http://www.cvm.gov.br/ingl/inter/mou-e2.asp

To access the list of regulators signatories of the MMOU from IOSCO, please check http://www.iosco.org/library/index.cfm?section=mou_siglist