Petrobras (PBR)

(h) Bank Credit Certificate

On October 31, 2008, Petrobras took out a loan (Bank Credit Certificate) from Caixa Econômica Federal (CEF) in the amount of US$1,057. The objective of the loan is to reinforce the Company’s working capital. This loan was negotiated with the following conditions:

• Term: 180 days, principal and charges with amortization in a single payment at the end of the term;

• Interest rate: 104% of the CDI Over;

• Levying of IOF; and

• A clause for extraordinary amortization and early liquidation. The Company may make extraordinary payments at any time to amortize the debt, in addition to making early liquidation.

On December 22, 2008, Petrobras negotiated with Caixa Econômica Federal (CEF) an amendment and renewal of the bank credit certificate of US$677. This transaction was negotiated with the following conditions:

• Term: 760 days, with payment of the charges each quarter and the principal at the end of the term;

• Rate of interest: 110% of CDI Over;

• Levying of IOF; and

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• Due to the additional loan and the payment of the financial charges on the loan granted previously, the parties consolidated the total amount lent into US$1,543.

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b) Bank Credit Certificate

On October 31, 2008, Petrobras took out a loan (Bank Credit Certificate) from Caixa Econômica Federal (CEF) in the amount of US$1,057. The objective of the loan is to reinforce the Company’s working capital. This loan was negotiated with the following conditions:

• Term: 180 days, principal and charges with amortization in a single payment at the end of the term;
• Interest rate: 104% of the CDI Over;
• Levying of IOF; and
• A clause for extraordinary amortization and early liquidation. The Company may make extraordinary payments at any time to amortize the debt, in addition to making early liquidation.