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PBR » Topics » RESULTS OF OPERATIONS FOR THE FIRST HALF OF 2008 COMPARED TO THE FIRST HALF OF 2007

This excerpt taken from the PBR 6-K filed Sep 4, 2008.

RESULTS OF OPERATIONS FOR THE FIRST HALF OF 2008 COMPARED TO THE FIRST HALF OF 2007

The comparison between our results of operations has been affected by the 17.0% increase in the value of the Real against the U.S. dollar for the first half of 2008, as compared to the first half of 2007.

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