PBR » Topics » DIVIDEND PAYMENTS AND INTEREST ON OWN CAPITAL

This excerpt taken from the PBR 6-K filed May 11, 2005.

DIVIDEND PAYMENTS AND INTEREST ON OWN CAPITAL

Value in Reais (R$)

Principal Restatement
SELIC rate
Total on
May 17, 2005



0,6000 0,0398 0,6398 As dividend
1,0000 0,0663 1,0663 As Interest on own capital



1,6000 0,1061 1,7061



The interest on own capital (R$ 1,00) will be subject to 15% withholding tax while the value of R$ 0,1061, corresponding to the variation in the SELIC rate, since December 31 2004 until May 17, 2005 will be subject to 22,5% withholding tax. The above-mentioned Withholding Tax is not applicable to tax immune or exempt shareholders.

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