GOL Elects Paulo Kakinoff as New Independent Board Member

Jan 06, 2010, 17:18 ET from GOL Linhas Aereas Inteligentes S.A.

SAO PAULO, Jan. 6 /PRNewswire-FirstCall/ -- GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL; BM&FBOVESPA: GOLL4), Latin America's largest low-cost and low-fare airline, announces the election of Paulo Kakinoff as the newest member of its Board of Directors. The election took place today at an extraordinary meeting of GOL shareholders.

Paulo Kakinoff, 35, is currently CEO of Audi Brasil and has 17 years of experience in the auto industry, having served as Sales & Marketing Director at Volkswagen do Brasil and as Executive Director for South America at the Volkswagen Group's head offices in Germany. Kakinoff holds a bachelor's degree in Business Administration from Mackenzie University.

"I am honored to be part of this board, because I have always seen GOL as one of the best companies in terms of brand building. My main objective is to help ensure that GOL continues to stand out in the market for the quality of its services," said the new board member.

"GOL will benefit enormously from Kakinoff's expertise in the consumption sector, especially in the middle class, which is our main focus," said Constantino de Oliveira Junior, GOL's CEO.

GOL's Board of Directors, which is currently composed of nine members (four of whom are independent members, including the chairman), is responsible for establishing the company's strategic policies and general guidelines. The Board's responsibilities include electing the members of the executive board and overseeing the exercise of their functions. GOL stands out in corporate governance through its compliance with Bovespa Level 2 practices, whereby at least 20% (twenty percent) of its Board of Directors must be composed of independent members.

About GOL Linhas Aereas Inteligentes S.A

GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL; Bovespa: GOLL4), the largest low-cost and low-fare airline in Latin America, offers around 800 daily flights to 49 destinations that connect all the important cities in Brazil and ten major destinations in South America and the Caribbean. The Company operates a young, modern fleet of Boeing 737 Next Generation aircraft, the safest and most comfortable of its class, with high aircraft utilization and efficiency levels. Fully committed to seeking innovative solutions through the use of cutting-edge technology, the Company -- via its GOL, VARIG, GOLLOG, SMILES and VOE FACIL brands -- offers its clients easy payment facilities, a wide range of complementary services and the best cost-benefit ratio in the market.

This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of GOL. These are merely projections and, as such, are based exclusively on the expectations of GOL's management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the

industry, among other factors and risks disclosed in GOL's filed disclosure documents, and are, therefore, subject to change without prior notice.

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