BM&FBOVESPA: Tax Assessment Notice Issued By The Brazilian Federal Revenue Service,

We  refer  to  a  notice  BM&FBOVESPA  S.A.  –  Bolsa  de  Valores,Mercadorias  e  Futuros  (BM&FBOVESPA)  released  on  November  30,2010,  advising  the  market  of  a  tax  assessment  notice  issued  by  the Brazilian Federal Revenue Service, which questions our tax amortization of goodwill arising on the merger of the shares issued by Bovespa Holding S.A.  In connection with that notice, we now announce to the market that the Federal Revenue Adjudication Division in São Paulo has issued a decision on the records of the opposition filed by BM&FBOVESPA, upholding the tax assessment notice in its material respects.

The first stage of the administrative tax proceeding having thus been completed,  BM&FBOVESPA  will  appeal  the  decision  to  the Administrative Board of Tax Appeals, the administrative court of appeals with the authority to issue a final administrative decision on the lawfulness of the amortization of goodwill for tax purposes.

Based on the opinion of counsel, we reaffirm that the prospects for a defeat in this tax assessment process are remote, and that we have properly recorded goodwill arising on the merger of shares transaction, which we have treated strictly in accordance with applicable tax legislation. Furthermore, we clarify that BM&FBOVESPA will continue to allocate and record amortization of goodwill for tax purposes, such as permitted under applicable tax legislation.