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PBR » Topics » RESULTS OF OPERATIONS FOR THE FIRST HALF OF 2007 COMPARED TO THE FIRST HALF OF 2006

This excerpt taken from the PBR 6-K filed Sep 6, 2007.

RESULTS OF OPERATIONS FOR THE FIRST HALF OF 2007 COMPARED TO THE FIRST HALF OF 2006

The comparison between our results of operations for the first half of 2007 and for the first half of 2006 has been affected by the 6.6% increase in the value of the Real against the U.S. dollar in the first half of 2007, as compared to the first half of 2006.

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