CVM INSTRUCTION NO. 194, OF AUGUST 5, 1992.

Amends the minimum unit nominal value for the issuance of debentures with exchange rate variation clause provided for in RESOLUTION NO. 1,833, of June 26, 1991, of the National Monetary Council.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM, makes public that the Collegiate Board, in a meeting held on this date, in accordance with the provisions of Article 5 of RESOLUTION NO. 1,833, of June 26, 1991, of the National Monetary Council.

RESOLVED:

Art. 1 The minimum nominal value for the issuance of debentures with exchange rate variation clause is Cr$ 300,000,000.00 (three hundred million cruzeiros).

Sole Paragraph. This value will be monetarily updated on the 1st (first) day of each month, according to the same index legally applicable to the monetary correction of the financial statements of publicly held companies.

Art. 2 This Instruction shall enter into force on the date of its publication in the Official Gazette of the Union.

Signed original by

ROBERTO FALDINI
President