Clarification on the Petrobras 2011-15 Business Plan

The 2011-15 Business Plan sensitivity studies and analyses were submitted for the approval of the Board of Directors, and at a meeting today, the Board asked the Management for further studies to be carried out. We will publish the Plan in full as soon as it is approved.

In addition, the Executive Management of wholly-owned subsidiary, Petrobras Distribuidora SA, was reappointed for a further three-year period.