This excerpt taken from the PBR 6-K filed Aug 19, 2005.
This excerpt taken from the PBR 6-K filed Mar 18, 2005.
Contingent financial exposure
Based on the above, the expectation of future losses on the energy business recorded by the Company for 2005 and thereafter was reversed, with no provisions for future losses having been established. Of the total provision to cover losses recorded in 2004 set up as of December 31, 2003, in the amount of R$ 1.478.712, R$ 1.439.457 (equivalent to 97% of the total amount) were realized in the current year. The remaining balance of R$ 39.255 was credited to net income for the year.