INSTRUCTION CVM NO. 342, OF JULY 13, 2000.

Amends CVM Instruction No. 317, of October 15, 1999, which provides for "Depositary Receipts" - DRs Programs, for trading abroad.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a meeting held on this date, based on the provisions of Art. 18, item II, letter "a", of Law No. 6,385, of December 7, 1976, and Art. 21 of the Regulation Annex V to Resolution of the National Monetary Council No. 1,289, of March 20, 1987, HAS DECIDED to issue the following Instruction:

Art. 1.
Articles 3-A and 3-B are included in CVM Instruction No. 317, of July 6, 2000, as follows:

"Art. 3-A It is the duty of companies that have obtained registration of a DR Program to adopt a minimum period of fifteen days between the first notice of convocation and the date of the holding of a shareholders' meeting, in order to enable non-resident shareholders to attend the same and exercise the right to vote.

Art. 3-B For the purposes of the provision of §1 of Art. 126 of Law No. 6,404, of December 15, 1976, the companies referred to in this Instruction may dispense with the notarization and recognition of signatures of the proxy instruments granted by their shareholders, provided there is a statutory provision to this effect."

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

Signed original by
JOSÉ LUIZ OSORIO DE ALMEIDA FILHO
President