Petrobras (PBR)

1 Presentation of the financial statements

The quarterly information includes the changes in the corporation law introduced by Laws 11.638/07 and 11.941/09, which amended the articles of Law 6.404/76 that referred to the preparation of the financial statements. Therefore, the amounts referring to September 30, 2008 were reclassified in order to adjust them to the financial statements for the current period, thus facilitating comparability, as presented below.

In shareholders’ equity as of September 30, 2008, the effects resulting from the initial adoption of the new legislation on January 1, 2008, net of tax effects, when applicable, totaled an increase of R$ 1.386.691 thousand in the Parent company and R$ 1.338.514 thousand in Consolidated.

As from fiscal year 2009, as established in CPC 13 - Initial Adoption of Law 11.638/07 and Law 11.941/08, goodwill originating from expectations of deferred income, arising from acquisition of other companies, are no longer amortized and are subject to impairment testing. In the period from January to September 2008 this amortization totaled R$ 205.817 thousand in the Parent Company and R$ 279.081 thousand in Consolidated.

The Board of Directors authorized the publication of these financial statements in a meeting held on November 13, 2009.

1 Presentation of the financial statements

The quarterly information includes the changes in the corporation law introduced by Laws 11.638/07 and 11.941/09, which amended the articles of Law 6.404/76 in the articles that referred to the preparation of the financial statements. Therefore, the amounts referring to the second quarter and first semester of 2008 were reclassified in order to adjust them to the statements for the current period, thus facilitating comparability, as presented below:

In shareholders' equity as of June 30, 2008, the effects resulting from the initial adoption of the new legislation on January 1, 2008, net of tax effect, when applicable, totaled an increase of R$ 1.386.691 thousand in the Parent company and R$ 1.338.514 thousand in Consolidated.

As from fiscal year 2009, as established in CPC 13 – Initial Adoption of Law 11.638/07 and Law 11.941/09, goodwill originating from expectations of deferred income, arising from acquisition of other companies, will no longer be amortized and will be subject to impairment testing. In the first semester of 2008 this amortization totaled R$ 143.164 thousand in the Parent Company and R$ 187.750 thousand in Consolidated.

The Board of Directors, in a meeting held on August 14, 2009, authorized the publication of these financial statements.

1 Presentation of the financial statements

The quarterly information includes the changes in the corporation law introduced by Law 11.638 of December 28, 2007 and Provisional Measure 449 of December 3, 2008, which amended the articles of Law 6.404/76 that referred to the preparation of the financial statements. Therefore, the amounts referring to the first quarter of 2008 were reclassified in order to adjust them to the statements for the current period, thus facilitating comparability, as presented below.

At march 31, 2008, on the Shareholder’s equity the effects of the adoption of the new Law, on the January 1^st, 2008, net from fiscal effects, when applicable, were disclosure at December 31, 2008.

The goodwill originating from expectations of future results, arising from acquisition of other companies will no longer be amortized as from fiscal year 2009, due to what is established in CPC 13 - Initial Adoption of Law 11.638/07 and Provisional Measure 449/08, and is subject to impairment testing. In the first quarter of 2008 the amount recorded under this heading was R$ 68.040 thousand in the Parent Company and R$ 148.040 thousand in the Consolidated statements.

The authorization for conclusion of the preparation of these financial statements took place in the Board of Directors' meeting held on May 11, 2009.

1 Presentation of the financial statements

The individual and consolidated financial statements were prepared in accordance with accounting practices derived from the Brazilian Corporation Law, orientations and interpretations issued by the Accounting Pronouncements Committee (CPC) and rules of the Brazilian Securities Commission (CVM).

The individual and consolidated financial statements for 2008 include the changes in the corporate legislation introduced by Law 11.638 of December 28, 2007 and Provisional Measure 449, of December 3, 2008, which amended the articles of Law 6.404/76 that refer to the preparation of the financial statements.

The authorization for conclusion of the preparation of these financial statements has been guaranteed by the Board of Directors’ meeting held on March 6, 2009.

With the objective of improving the information presented to the market, the Company is presenting the following supplementary information:

1 Presentation of the financial statements

The individual and consolidated financial statements were prepared in accordance with accounting practices derived from the Brazilian Corporation Law and rules of the Brazilian Securities Commission - CVM.

Certain amounts relating to prior years were reclassified in order to properly compare the financial statements between the years.

The authorization for the conclusion of the preparation of those financial statements occurred at the Board of Directors Meeting on March 03, 2008.

In order to improve the information provided to the market, the Company is presenting the following supplementary information with respect to the Parent Company and the consolidated financial statements: