Pursuant to Rule 13a-16 or 15d-16 of the
20035-900 - Rio de Janeiro, RJ
Federative Republic of Brazil
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
(Rio de Janeiro, December 20, 2002). - PETRÓLEO BRASILEIRO S.A - Petrobras, (BOVESPA: PETR3 / PETR4,
NYSE: PBR / PBRA, LATIBEX: XPBR / XPBRA), Brazil's largest oil and gas, petrochemicals and energy
company, announces that its Board of Directors at a meeting held on December 20, 2002, approved the
listing of its common and preferred shares on the Buenos Aires Stock Exchange (Bolsa de Comércio de Buenos
Aires).
The increasingly close relations with the Argentine capital markets is a natural step forward for a
company which intends to have a strategic long term position in that country.
The Company has demonstrated clearly the importance of this market in its long term planning with the
acquisitions of EG3, Petrolera Santa Fé and Perez Companc and based on the conviction of a recovery in
economic growth in Argentina, the second largest economy in South America.
With the Company's listing on the Buenos Aires Stock Exchange, local investors will have the opportunity
of investing directly in Petrobras' shares as well as continuing to trade in Pecom's shares. Over the long
term, this initiative will enable the Company to diversify its shareholding base still more and increase
the visibility of the Petrobras name throughout Argentina.
The Company's shares rank first by trading volume on the Bovespa and are among the 25 most negotiated ADRs
on the New York Stock Exchange as well as trading on the Madrid Stock Exchange - Latibex since July of
this year. The Company expects to be able to contribute to the strengthening of the Buenos Aires Stock
Exchange.
The necessary action is being taken with the respective capital markets' regulatory bodies in both
countries for listing formalities to be completed during the first quarter of 2003.
Rio de Janeiro, December 20, 2002
João P. Nogueira Batista
CFO and Investor Relations Officer
Contacts:
Investor Relations Department
Luciana Bastos de Freitas Rachid - Executive Manager
E-mail: petroinvest@petrobras.com.br
Av. República do Chile, 65 - 4th floor
20031-912 - Rio de Janeiro, RJ
(55-21) 2534-1510 / 2534-9947
This document may contain forecasts that merely reflect the expectations of the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update such forecasts in light of new information or future developments.
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PETRÓLEO BRASILEIRO
S.A--PETROBRAS | ||
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By: |
/S/ João Pinheiro Nogueira Batista
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João Pinheiro
Nogueira Batista
Chief Financial
Officer and Investor Relations Director
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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 actually 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.