TAM Share Buy-Back Program
January 30 2008 - 4:26PM
PR Newswire (US)
SAO PAULO, Brazil, Jan. 30 /PRNewswire-FirstCall/ -- TAM (Bovespa:
TAMM4 and NYSE: TAM) reports that, at a meeting conducted today,
its Board of Directors approved the acquisition of preferred shares
issued by the Company to be held in treasury and subsequently
cancelled or transferred, without reducing the company's capital
stock. (Logo:
http://www.newscom.com/cgi-bin/prnh/20060418/SPTU001LOGO ) The
acquisition will respect the limit of up to 4,000,000 (four
million) preferred shares, equivalent to 5.56% of the total of this
class of shares currently in circulation. The authorization will
remain in effect for a maximum period of 365 days, as of today. The
acquisition operations will be conducted on stock exchanges at
market prices, through the mediation of the following institutions:
UBS Pactual Corretora de Titulos e Valores Mobiliarios S.A., with
head offices at Av. Brigadeiro Faria Lima, 3.729, 10o andar -
parte, Sao Paulo - SP, listed on the tax rolls under CNPJ no.
43.815.158/0001-22; and Credit Suisse (Brasil) S.A. CTVM, with head
offices at Av. Brigadeiro Faria Lima, no. 3.064, 13o andar - parte,
Jardim Paulistano, Sao Paulo - SP. Investor Relations: Press Agency
Contact: Phone: (55) (11) 5582-9715 Phone: (55) (11) 5582-8167 Fax:
(55) (11) 5582-8149 Fax: (55) (11) 5582-8155
http://www.tam.com.br/ir MVL Comunicacao Phone: (55) (11) 3594-0302
/ 0304 / 0305 About TAM: TAM Linhas Aereas (http://www.tam.com.br/)
has been domestic market leader since July of 2003, and closed the
month of December 2007 with a 48.6% market share. The company flies
to 47 destinations in Brazil. With commercial agreements signed
with regional companies, it reaches 81 different destinations
nationwide. TAM's market share among Brazilian companies operating
international airlines was 70% in December. Operations abroad
include direct flights to eleven destinations: New York and Miami
(USA), Paris (France), London (England), Milan (Italy), Frankfurt
(Germany), Madrid (Spain), Buenos Aires (Argentina), Santiago
(Chile), Caracas (Venezuela) and Montevideo (Uruguay). With TAM
Mercosur, it also serves Asuncion and Ciudad del Este (Paraguay),
Cordoba (Argentina), Santa Cruz de la Sierra and Cochabamba
(Bolivia), among other South American cities. It has code-share
agreements with international companies, allowing for the sharing
of seats on flights with international companies, enabling
passengers to travel to 62 other destinations in the USA, South
America and Europe. A pioneer in Brazil's airline industry with the
launch of its Programa Fidelidade frequent flyer program, TAM today
has more than 4.3 million members and has issued more than 5
million tickets redeemed with frequent flyer points.
http://www.newscom.com/cgi-bin/prnh/20060418/SPTU001LOGO
DATASOURCE: TAM CONTACT: Libano Miranda Barroso, TAM Investor
Relations, +011-55-11-5582-9715, fax, +011-55-11-5582-8149, Web
site: http://www.tam.com.br/
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