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Press Release

GOL Expands Sales Channels by
Opening New Stores Internationally

São Paulo, May 21, 2009 – GOL, Latin America’s largest low-cost airline, is expanding its sales channels by opening brick-and-mortar stores in all international cities served by the Company. The outlets will function as points of sale and as an additional customer service channel, where customers can purchase tickets and obtain information on products and services, flight times, destinations, prices, etc.

“Thanks to these new stores, we are able to offer our customers more personalized service, meeting the local needs of each country or region. We understand that we serve different communities with very distinct expectations and are committed to providing the best possible service”, said Tarcísio Gargioni, GOL’s vice president – marketing and services. “For the Company, this is also an important new channel for generating revenue.”

The first outlet opened today in Asuncion, the capital of Paraguay, in the Paseo Carmelitas, a bustling shopping and entertainment complex on Avenida España, one of the most prestigious addresses in the city. In the next few months, GOL will also open stores in Buenos Aires, Córdoba and Rosário (Argentina), Santa Cruz de la Sierra (Bolivia), Santiago (Chile), Lima (Peru) and Montevideo (Uruguay), as well as Cochabamba and La Paz (Bolivia). In Bogotá (Colombia) and Caracas (Venezuela), destinations currently served by the VARIG brand, existing stores will be reorganized and moved to more convenient locations to ensure better customer service.

Additionally, the Company will expand its sales structure in each destination. In certain markets it will install outsourced Sales Promotion Representatives (SPRs), who will work with GOL to facilitate ticket sales to final customers and travel agents – similar to the franchise model used by Gollog, GOL’s cargo division. The cost of opening and maintaining the outlets is the responsibility of the SPRs, who will operate under the Company’s Franchise Guidelines, which includes everything from brand application rules to employee training.

“The new representatives will strengthen GOL’s presence abroad and are part of our drive to internationalize our brands, adding value to the Company but also providing additional benefits for our customers. Our aim is to be the first and most convenient option for anyone traveling throughout South America”, added Gargioni.

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will a ctually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.