BM&F BOVESPA S.A. Board of Directors Elects New Chairman and Chief Executive Officer

Gilberto Mifano and Edemir Pinto are elected and take office immediately

In a meeting held on May at its headquarters, the BM&F BOVESPA S.A.’s Board of Directors elected Messrs. Gilberto Mifano and Edemir Pinto as the company’s Chairman and Chief Executive Officer, respectively. Since May 20th, both are responsible for managing the world’s third largest exchange by market value and the leading exchange in Latin America.

Their respective names were recommended by the special committee created to coordinate the activities related to the integration of BM&F S.A. and BOVESPA Holding S.A., as well as their affiliated companies. The committee consists of Messrs. Manoel Felix Cintra Neto and Raymundo Magliano Filho, who were acting as co-Chairmen of the Board, and Messrs. Edemir Pinto and Gilberto Mifano, who were acting as co-Chief Executive Officers. The special committee will maintain its advisory capacity until the end of 2008.

The nomination of Mr. Mifano and Mr. Pinto ensures the relevance of governance and a step towards the professional management of the company. Both executives have a long experience in managing stock and derivatives markets. Under the management of Mr. Mifano at BOVESPA and Mr. Pinto at BM&F, these exchanges have become market leaders in their respective segments.

About the resolution of the Board of Directors, Mr. Magliano said: “This solution represents a fortunate combination of competence and talent.” Mr. Cintra Neto also stated: “We are guaranteeing that the company’s management will combine the best professionals available in the market, therefore ensuring the fulfillment of the commitments assumed before shareholders and the market itself.”

Mr. Mifano added that he is honored with the Board of Directors’ nomination. “This position will certainly be one of the biggest challenges of my career,” he declared. “The exchanges’ integration will translate into higher profits to shareholders and a better order execution for customers,” he said.

Mr. Pinto greeted Mr. Mifano’s nomination, reminding that their long relationship will facilitate the BM&F BOVESPA’s management. “Our goal is to ascertain that we will deliver the best possible results in terms of integration to the shareholders,” he remarked.

Find below the résumés of Mr. Mifano and Mr. Pinto:

Gilberto Mifano acted as Chief Executive Officer of BOVESPA from 1994 to 2007. In 2007, he cumulatively acted as CEO and Investor Relations Officer of BOVESPA Holding SA. In May 2008 he was elected co-CEO of BM&F BOVESPA SA. He holds a degree in Business Administration from the Getulio Vargas Foundation (FGV). Mr. Mifano is also Vice-Chairman of the Board of the Brazilian Institute for Corporate Governance (IBGC), a member of the Board of Directors of the World Federation of Exchanges (WFE), and a member of the Executive Committee of the Ibero-American Federation of Exchanges (FIAB).

Edemir Pinto held the position of Chief Executive Officer of BM&F from April 1999 to the beginning of May 2008, when he took office as co-CEO of BM&F BOVESPA. An economist, Mr. Pinto joined BM&F in January 1986. In July 1987 he was promoted to the position of Derivatives Clearinghouse Officer and was responsible for risk management, settlement, participant registration, collateral, custody and controllership.

Mr. Marcis Skadmanis

The School of Business Administration Turiba

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