CVM INSTRUCTION NO. 291, OF SEPTEMBER 25, 1998.

Amends paragraph 1 of Article 1 of CVM Instruction No. 290, of September 11, 1998, which provides for the acquisition, by public companies, of shares of their own issuance, through options transactions.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a meeting held on this date, in view of the provisions of Article 22, sole paragraph, item III, of Law No. 6,385, of December 7, 1976, and Article 30, paragraph 2, of Law No. 6,404, of December 15, 1976, HAS DECIDED to issue the following Instruction:

Article 1
This Instruction amends paragraph 1 of Article 1 of CVM Instruction No. 290, of September 11, 1998, which provides for the acquisition, by public companies, of shares of their own issuance, through options transactions.

Article 2
The aforementioned paragraph 1 of Article 1 shall be effective with the following wording:

Ҥ1
The transactions described in the caput of this article may only be carried out if the company's bylaws grant the Board of Directors powers to authorize trading in its own shares, as provided for in CVM Instruction No. 10, of February 14, 1980.”

Article 3
This Instruction enters into force on the date of its publication in the Official Gazette of the Union.

Signed original by
FRANCISCO DA COSTA E SILVA
President