Dear Mr/Mrs ..,
Clarifications
on the Business Plan
(Rio de Janeiro, December
10, 2008). - PETR�LEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex:
XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, in
response to written notice received from Securities and Exchange Commission of
Brazil - CVM (CVM/SEP/GEA-2/No. 298/08), regarding the news posted by Ag�ncia Estado l yesterday, which states that "Petrobras is working on a plan B to announce its investment
program, foreseen for the 19th," clarifies that:
As informed on
October 17 2008, the Company postponed the announcement of its Business Plan to
the end of the year, due to the need to complete project analysis due to the
new conjunctural conditions.
The Board of
Directors has its monthly meeting scheduled for December 19, when it is
expected to evaluate the new business plan which is currently under elaboration
and to decide on its approval. Before being submitted to the Board of
Directors, the new plan, that considers several scenarios, has to be submitted
to the Executive Board for analysis.
The goals and
investments currently in effect at the Company remain those announced in August
2007 for the 2008-2012 period until the new plan is
approved.
Sincerely,
Investor Relations Department
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.