GOL Announces Partnership with Bradesco and Banco do Brasil to Create the SMILES Credit Card

SAO PAULO, June 30 /PRNewswire-FirstCall/ -- GOL Linhas Aereas Inteligentes S.A. ("Company", Bovespa: GOLL4 and NYSE: GOL), the largest low-cost and low-fare airline in Latin America, announces that on today's date its subsidiary VRG Linhas Aereas S.A. formalized a partnership with Bradesco and Banco do Brasil ("Financial Institutions") through an Operating Agreement ("Operating Agreement") for the issue and administration of co-branded credit cards.

Through this partnership, the Financial Institutions may issue to their clients credit cards with the SMILES brand, facilitating growth and expansion in the loyalty program. Today, the SMILES loyalty program has more than 6.2 million clients, making it the largest in Latin America, with up to 100,000 new registrations each month.

Under the Operating Agreement, GOL will initially receive approximately R$252.0 million for the acquisition of miles from the SMILES program and the Financial Institutions' rights to access and use the registration database and a share of the revenue from the credit cards issued. Approximately 60% of this total will be paid by July 31, 2009, 22% by January 31, 2010, and 18% will be paid in monthly installments during the first five years.

Through new partnerships and the sale of mileage packages to financial institutions and retail chains, the economic potential of SMILES, an asset arising from the VRG acquisition, will be better explored, bringing novelties and benefits for clients. The Brazilian loyalty program market is estimated at R$1.2 billion per year, and GOL's objective is to see SMILES contributing to its growth while increasing its market share.

For further information, please access the website: www.voegol.com.br/ir.

Co-Branded Cards Conference Call

    English                                Portuguese
    June 30th, 2009                        June 30th, 2009
    3:00 p.m. (US EST)                     3:45 p.m. (US EST)
    4:00 p.m. (Brasilia Time)              4:45 p.m. (Brasilia Time)
    Phone: +1 (973) 935-8893               Phone: +55 (11) 2188-0188
    Replay: +1 (706) 645-9291 (7 days)     Replay: +55 (11) 2188-0188 (7 days)
    Code: 18019682                         Code: GOL

Participants are requested to connect ten minutes prior to the time set for the conference calls.

    CONTACT:
    Investor Relations
    Leonardo Pereira - CFO and IRO

    Rodrigo Alves - Head of IR
    Tel.: (55 11) 2128-4700
    E-mail: ri@golnaweb.com.br

    Website: www.voegol.com.br/ir