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This excerpt taken from the PBR 6-K filed Mar 4, 2008. Share buyback On December 15, 2006, the Board of Directors authorized the buyback up to 91.500.000 preferred shares in circulation for future cancellation, using funds from the revenue reserves. The authorized timeframe for repurchase expired in 2007 and the option was not exercised. This excerpt taken from the PBR 6-K filed Nov 21, 2007. 18.2. Share buyback Pursuant to article 29, section II of the Company Bylaws, on December 15, 2006, the Board of Directors authorized the buyback of part of the preferred shares in This excerpt taken from the PBR 6-K filed Aug 21, 2007. 18.3. Share buyback Pursuant to article 29, section II of the Company Bylaws, on December 15, 2006, the Board of Directors authorized the buyback of part of the preferred shares in circulation for future cancellation, using funds from the profit reserves subject to the following terms: (a) Objective: reduce the excess cash and enhance the capital structure, helping reduce the cost of Petrobras’ capital. (b) Amount: up to 91.500.000 preferred shares, corresponding to 4,9% of the total of this class of share in circulation, which is 1.850.364.698 shares; (c) Price: the acquisition will occur on the Stock Exchange, at market values on the acquisition dates throughout the buyback term; (d) Term: up to 365 (three hundred and sixty-five) days as from December 15, 2006. This excerpt taken from the PBR 6-K filed Jun 8, 2007. b) Share buyback Pursuant to article 29, section II of the Company Bylaws, on December 15, 2006, the Board of Directors authorized the buyback of part of the preferred shares in circulation for future cancellation, using funds from the profit reserves subject to the following terms: a) Objective: reduce the excess cash and enhance the capital structure, helping reduce the cost of Petrobras’ capital. b) Amount: up to 91.500.000 preferred shares, corresponding to 4,9% of the total of this class of share in circulation, which is 1.850.364.698 shares; c) Price: the acquisition will occur on the Stock Exchange, at market values on the acquisition dates throughout the buyback term; d) Term: up to 365 (three hundred and sixty-five) days as from December 15, 2006. | EXCERPTS ON THIS PAGE:
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