TAM Share Buy-Back Program
Share:
SAO PAULO, Brazil, Jan. 30 / -- TAM (Bovespa: TAMM4 and NYSE: TAM) reports that, at a meeting conducted today, its Board of Directors approved the acquisition of preferred shares issued by the Company to be held in treasury and subsequently cancelled or transferred, without reducing the company's capital stock.
The acquisition will respect the limit of up to 4,000,000 (four million) preferred shares, equivalent to 5.56% of the total of this class of shares currently in circulation. The authorization will remain in effect for a maximum period of 365 days, as of today.
The acquisition operations will be conducted on stock exchanges at market prices, through the mediation of the following institutions: UBS Pactual Corretora de Titulos e Valores Mobiliarios S.A., with head offices at Av. Brigadeiro Faria Lima, 3.729, 10o andar - parte, Sao Paulo - SP, listed on the tax rolls under CNPJ no. 43.815.158/0001-22; and Credit Suisse (Brasil) S.A. CTVM, with head offices at Av. Brigadeiro Faria Lima, no. 3.064, 13o andar - parte, Jardim Paulistano, Sao Paulo - SP.
About TAM:
TAM Linhas Aereas (http://www.tam.com.br/) has been domestic market leader since July of 2003, and closed the month of December 2007 with a 48.6% market share. The company flies to 47 destinations in Brazil. With commercial agreements signed with regional companies, it reaches 81 different destinations nationwide. TAM's market share among Brazilian companies operating international airlines was 70% in December. Operations abroad include direct flights to eleven destinations: New York and Miami (USA), Paris (France), London (England), Milan (Italy), Frankfurt (Germany), Madrid (Spain), Buenos Aires (Argentina), Santiago (Chile), Caracas (Venezuela) and Montevideo (Uruguay). With TAM Mercosur, it also serves Asuncion and Ciudad del Este (Paraguay), Cordoba (Argentina), Santa Cruz de la Sierra and Cochabamba (Bolivia), among other South American cities. It has code-share agreements with international companies, allowing for the sharing of seats on flights with international companies, enabling passengers to travel to 62 other destinations in the USA, South America and Europe. A pioneer in Brazil's airline industry with the launch of its Programa Fidelidade frequent flyer program, TAM today has more than 4.3 million members and has issued more than 5 million tickets redeemed with frequent flyer points.
FCMN Contact: andre.ferreira@tam.com.br
Press Agency Contact:
Phone: (55) (11) 5582-8167
Fax: (55) (11) 5582-8155
brtamimprensa@tam.com.
brhttp://www.tam.com.br/ir
MVL Comunicacao
Phone: (55) (11) 3594-0302 / 0304 / 0305
Source: TAM
Web site: http://www.tam.com.br/
