Circular Letter CVM/SIN 06/04

CIRCULAR LETTER/CVM/SIN NO. 006/2004.
Rio de Janeiro, December 29, 2004.
Subject: Identification of the largest unit holders of investment funds

Dear Sir,

The Superintendence of Institutional Investor Relations of the CVM, based on Article 2 of CVM Instruction No. 405, of 02/27/2004, and in continuation of the procedure already adopted on 06/30/2004 and 09/30/2004, communicates to investment fund administrators that the "Daily Report" document, relating to the position of 12/30/2004, must contain the identification of unit holders with investments equal to or greater than 20% of the fund's net asset value, accompanied by their respective percentage participations, as determined by the model attached to the aforementioned Instruction.

2. The statement must be sent as usual through the CVM's information reception system on the World Wide Web, and funds that do not have unit holders with investments equal to or greater than 20% of the net asset value on that date do not need to fill in anything in the fields designated for this information.

Sincerely,

Signed Original

CARLOS EDUARDO P. SUSSEKIND
Superintendent of Institutional Investor Relations