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TAM notice to the market

Direct News Source

21-Dec-2009 TAM S.A. (“Company”), in compliance with the provisions of Law no. 6,404/76 and of Instruction no. 358/02 of the Brazilian Securities Commission, as amended, hereby informs its shareholders and the market in general that, on December 19, 2009, it acquired all shares of the capital stock of Pantanal Linhas Aéreas S.A. (“Pantanal”).

As compensation for the acquisition of such shares, the Company will pay to the sellers the amount of R$13,000,000.00 (thirteen million reais).

The effectiveness of the acquisition of the Pantanal shares is subject to the fulfillment of certain conditions, including, without limitation, the previous authorization by the National Agency for Civil Aviation - ANAC, as provided by Article 185, 2nd paragraph, of Law no. 7,565, dated December 19, 1986.