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BM&FBOVESPA Holds Its Second Carbon Credit Auction

SAO PAULO, Brazil, Aug. 28 /PRNewswire/ -- BM&FBOVESPA will conduct, on September 25, 2008, its second carbon credit auction for the sale of Certified Emission Reductions (CERs) held by the Sao Paulo Municipal Government. A total amount of 713,000 CERs will be auctioned in a single lot under the terms of the Clean Development Mechanism - 454.343 CERs from the Bandeirantes landfill Energy Project and 258.657 CERs from Sao Joao landfill Energy Project.

The internet-based auction (www.bmf.com.br/leilaocarbono) will be at 8:30 a.m. (Brasilia time) or (11:30 UCT). The minimum bid price will be disclosed on September 24, one day before the auction, and will be available on the BM&FBOVESPA website at 10 a.m.,Brasilia time.

The financial settlement will be mediated by the BM&F Settlement Bank. The collateral of euro 400,000 (four hundred thousand Euros) must be pledged by all bidders by no later than five business days before the auction date. The Bank ofBrazil will confirm the letters of credit to be issued by the banks listed in the Notice. Standby letters of credit must be submitted as collateral to the Bank ofBrazil,London branch, in the city ofLondon, United Kingdom.

About the landfills

The Bandeirantes landfill is located in the northern section of the city ofSao Paulo on an area of 150 hectares with a waste storage capacity of 35 million metric tons. In 2003, it was the first landfill of its kind to install a thermoelectric plant generating 170 thousand MW/h per annum.

Established in 1992, the Sao Joao landfill is located in the eastern section of the city ofSao Paulo on an area of 80 hectares. It receives 7 thousand tons of waste per day, and its thermoelectric plant production of 200 thousand MW/h per annum is equal to the annual energy consumption of a city of 400 thousand inhabitants.

Both of these landfills have installed systems to capture the gases produced by the decomposition of the urban waste they store. These gases, principally carbon dioxide and methane responsible for the greenhouse effect, are being used to produce electric energy.

Press Information can be obtained from the BM&FBOVESPA Press Office at imprensa@bmfbovespa.com.br, or (5511) 3119-2330/2076.

    Access to the auction will be available at
http://www.bmf.com.br/portal/pages/MBRE/negociacao.asp.

SOURCE BM&FBOVESPA