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GOL Announces the Segregation of the Activities Related to the Smiles
[December 21, 2012]

GOL Announces the Segregation of the Activities Related to the Smiles

SAO PAULO, Dec. 21, 2012 /PRNewswire via COMTEX/ -- GOL Linhas Aereas Inteligentes S.A. (BM&FBovespa: GOLL4 and NYSE: GOL), (S&P: B, Fitch: B+, Moody`s: B3), the largest low-cost and low-fare airline in Latin America ("Company"), hereby announces the segregation of the activities related to the "Smiles" loyalty program, currently managed by the subsidiary VRG Linhas Aereas S.A. ("VRG") and which will henceforth be conducted by Smiles S.A., a recently constituted company controlled by the Company.

As previously announced to the market, the Company is analyzing the possibility of holding an initial public offering (IPO) of Smiles S.A., although there is no estimate or prediction as to when these analyses will be concluded. The Company would like to emphasize that that no decision has been taken regarding this matter and that it may or may not conduct the IPO or an alternative operation in regard to Smiles S.A.The Company announces that the decision to hold an IPO is subject to national and international capital market conditions and prior registration with the Brazilian Securities and Exchange Commission (CVM), as well as the other formalities applicable to this kind of operation.

To access the document full version, visit our website at www.voegol.com.br/ir.


CONTACTS INVESTOR RELATIONSEdmar Lopes - CFOAndre Brandi - Planning and IR ManagerGustavo Mendes - Investor RelationsPhone: (11) 2128-4700 E-mail: ri@golnaweb.com.br Website: www.voegol.com.br/ri Twitter: @GOLinvest CORPORATE COMMUNICATIONSPhone: (11) 2128-4413E-mail: comcorp@golnaweb.com.br Twitter: @GOLcomunicacao MEDIA RELATIONSEdelman (USA and Europe): Meaghan Smith and Robby CorradoPhone: +1 (212) 704-8196 / 704-4484E-mail: meaghan.smith@edelman.com or robert.corrado@edelman.com ABOUT GOL LINHAS AEREAS INTELIGENTES S.A.

GOL Linhas Aereas Inteligentes S.A. (Bovespa: GOLL4 and NYSE: GOL), the largest low-cost and low-fare airline in Latin America, offers around 900 daily flights to 65 destinations in 10 countries in South America, Caribbean and the United States under the GOL and VARIG brands, using a young, modern fleet of Boeing 737-700 and 737-800 Next Generation aircraft, the safest, most efficient and most economical of their type.

SOURCE GOL Linhas Aereas Inteligentes S.A.

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