OREANDA-NEWS. February 27, 2012. In view of the end of daylight saving time in Brazil on February 26, 2012 and the beginning of daylight saving time in the United States on March 11, 2012, BM&FBOVESPA informs you that the new trading hours (Brasilia time) for the Equities Market and Derivatives Market will be as follows:

Equities Market – as of March 12, 2012

Derivatives Market – as of February 27, 2012

Equities Market – as of March 12, 2012

Regular Session

9:45 a.m. to 10:00 a.m. – pre-opening fixing – input of orders for the calculation of the theoretical opening price;

10:00 a.m. to 5:00 p.m. – continuous trading session – for all listed securities;

4:55 p.m. to 5:00 p.m. – closing call for:

Shares composing any of the BM&FBOVESPA indexes and BOVESPA Mais shares;

Options series for underlying shares composing the IBrX-100 theoretical portfolio; and

ETFs.

The closing call for the ETFs shall be extended by two minutes after the end of the last stock closing call.

After-Market

5:30 p.m. to 5:45 p.m. – pre-opening phase;

5:45 p.m. to 7:00 p.m. – trading phase.

Blocking/exercise on the equity options market:

Days prior to expiration:

10:00 a.m. to 4:00 p.m. – exercise of the holder position.

Expiration date:

10:00 a.m. to 11:30 a.m. – trading of the expired series to the offset of the position, that is, a sale for the holder of the position and a purchase for blocking for the writer of the position;

11:30 a.m. to 1:00 p.m. – exercise of the expired series.

Blocking/Exercise on the index options market:

Days prior to expiration:

10:00 a.m. to 1:00 p.m. – exercise of the holder position.

Expiration date:

10:00 a.m. to 1:00 p.m. – trading of the expired series to the offset of the position, that is, a sale for the holder of the position and a purchase for blocking for the writer of the position;

After 5:00 p.m. – automatic exercise of the expired series which fit the following situations:

(i) call option: settlement index higher than the exercise price; and

(ii) put option: settlement index lower than the exercise price.

Trade corrections:

until 7:00 p.m.

Over-the-Counter Market

9:45 a.m. to 10:00 a.m. – pre-opening;

10:00 a.m. to 5:00 p.m. – continuous trading session;

4:55 p.m. to 5:00 p.m. – closing call – for all the issuers whose assets are traded on the cash market during the continuous trading session.

Derivatives Market – as of February 27, 2012

We highlight that in the cases of the Arabica Coffee and Soybean derivatives contracts (cash settled) there will be two trading time changes – the first due to the end of daylight saving time in Brazil and the second due to the start of daylight saving time in the United States. To this end, the annex contains two time grids for the agricultural markets:

The time grid for February 27, 2012 to March 09, 2012; and

The time grid for March 12, 2012 and after.