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GOL announces sale of preferred shares held In treasury

GOL announced that its Board of Directors approved at a meeting the sale of the Company's preferred shares held in treasury.

SAO PAULO – GOL Linhas Aereas Inteligentes S.A, the largest low-cost and low-fare airline in Latin America, in compliance with the provisions set forth in CVM Instruction no. 358/2002, hereby announces to its shareholders and the market that its Board of Directors approved at a meeting the sale of the Company’s preferred shares held in treasury, pursuant to the CVM Instruction no. 10, dated February 14, 1980, as amended, under the conditions below.

The purpose is the sale of preferred shares of the Company held in treasury, given the termination of the Company’s stock repurchase program, approved at the Board of Directors’ Meeting held on August 11, 2011, due to the fact that the circumstances which resulted in the shares being held in treasury no longer prevail. The maximum term for the sale of shares as authorized shall be February 13, 2013, counted as from this date.

The number of shares to be sold is of up to 3,724,225 preferred shares of the Company held in treasury.

The number of outstanding shares of the Company is ninety-eight million, one hundred and twenty-nine thousand, four hundred and thirty-seven (98,129,437) preferred shares, as recorded in the stock deposit account informed by the depositary financial institution on December 20, 2012.

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Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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