Petrobras (PBR)

(g) Advance on Export Contracts - ACC

On October 23, 2008, Petrobras negotiated an Advance on Export Contracts - ACC with Banco do Brasil in the amount of US$300. This advance was negotiated with the following conditions:

• Term: 179 days, with maturity on April 20, 2009;

• Interest rate: 6.30% p.a. With payment on April 20, 2009; and

• Exemption from IOF (Tax on Financial Operations) and income tax (IR) provided that the exports are made.

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On December 3, 2008, Petrobras negotiated an Advance on Export Contracts - ACC with Bradesco in the amount of US$200. This advance was negotiated with the following conditions:

• Term: 360 days, with maturity on November 28, 2009;

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• Interest rate: 6.% p.a. With payment on November 28, 2009;

• Exemption from IOF (Tax on Financial Operations) and income tax (IR) provided that the exports are made; and

• Early payment clause, with observance of exchange legislation and payment of the costs inherent to early payment.

a) Advance on Export Contracts - ACC

On October 23, 2008, Petrobras negotiated an Advance on Export Contracts - ACC with Banco do Brasil in the amount of US$300. This advance was negotiated with the following conditions:

• Term: 179 days, with maturity on April 20, 2009;
• Interest rate: 6.30% p.a. With payment on April 20, 2009; and
• Exemption from IOF (Tax on Financial Operations) and income tax (IR) provided that the exports are made.

27.2 Advance on Export Contracts - ACC

On October 23, 2008, Petrobras negotiated an Advance on Export Contracts - ACC with Banco do Brasil in the amount of US$ 300.000 thousand, equivalent to R$ 750.990 thousand. This advance was negotiated with the following conditions:

- Term: 179 days, with maturity on April 20, 2009;

- Interest rate: 6,30% p.a. With payment on April 20, 2009; and

- Exemption from IOF (Tax on Financial Operations) and income tax (IR) provided that the exports are made.