SAO PAULO, Brazil, March 14 /PRNewswire-FirstCall/ -- TAM S.A., (Bovespa: TAMM4 and NYSE: TAM), issued Shares, in the form of ADSs (American Depositary Shares) represented by ADRs (American Depositary Receipts) begin to be traded last Friday on the NYSE - New York Stock Exchange with the symbol TAM. The IPO - initial public offering of shares on the NYSE corresponds to the international offer and is part of the global offer that TAM is making in Brazil and abroad by means of a simultaneous primary distribution of 5,000,000 new preference shares and a secondary distribution of 30,618,098 shares belonging to existing shareholders. The international offer can be increased by a supplementary lot of up to 15% of the total ADSs initially offered. These options are designed exclusively to meet a possible excess of demand which might be detected during the Global Offer. The net resources obtained from the share issue giving rise to the primary distribution will be used by TAM S.A. entirely to finance its activities by means of capital infusions in its operational subsidiaries. It is intended that 80% of such resources will be used to finance the renewal and expansion of its fleet, with the acquisition or lease of aircraft. The remainder of resources will be used for working capital. This operation is being coordinated by Credit Suisse (USA) LLC and Pactual Capital Corporation as joint global coordinators and bookrunners and Merrill Lynch (joint lead manager). The publication of the announcement of the termination of the offer is expected for April 17. In Brazil, the shares of TAM are traded at Level 2 on the Sao Paulo stock exchange - BOVESPA. Level 2 corresponds to companies who adopt differentiated practices of corporate governance as defined by the Brazilian stock exchange. Furthermore, TAM's corporate statutes assure all shareholders the right to be included in a public offer for control of the Company, thus ensuring they receive treatment equal to that given to the majority or controlling shareholder - i.e. a full 100% tag along. TAM has been the market leader in civil aviation in Brazil since July 2003 and in February 2006 obtained a market share of 44.4%, according to data provided by DAC. At present, the Company flies to 46 destinations in Brazil. When agreements with regional carriers are taken into consideration, the total number of domestic destinations increases to 73. International operations comprise direct flights to five destinations: New York and Miami (USA), Paris (France), Buenos Aires (Argentina) and Santiago (Chile). With its subsidiary TAM Mercosur, it serves a further seven destinations: Assuncao, Ciudad del Este and Pedro Juan Caballero (Paraguay), Montevideu and Punta del Este (Uruguay), Santa Cruz de la Sierra and Cochabamba (Bolivia). Furthermore it maintains code-share agreements with international airlines which permit that the passenger can fly to a great diversity of destinations throughout the world. DATASOURCE: TAM CONTACT: Investor Relations: +55-11-5582-9715, Fax: +55-11-5582-8149, - acess Investor Relations, Press Agency: +55-11-5582-8167, Fax: +55-11-5582-8155, Web site: http://www.tam.combr/

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