Banco Bradesco S.A. (Bradesco) acquired shareholding control of Banco do Estado do Rio de Janeiro S.A. (BERJ) from the Government of the State of Rio de Janeiro. The investment involved the purchase of 96.99% of common shares and 95.21% of preferred shares, representing 96.23% of BERJ’s capital stock, for a total of R$1.025 billion.

With the acquisition of BERJ, Bradesco also acquired the right to provide services to the Government of the State of Rio de Janeiro including its payroll, supplier payroll, and the collection of state taxes among others services from January 2012 to December 2014. For this right, Bradesco will pay a total of R$748.7 million.

The payment of the amounts mentioned above will occur as follows; 20% of the Price of BERJ and 100% of the Price of Payroll will be made up to 5 days after having fulfilled all conditions, including the approval from the Brazilian Central Bank of the transfer of BERJ’s shareholding control and the signature of the Agreements for Purchase and Sale in a Single Lot of Shares.

A further 80% of the Price of BERJ within 5 days of the approval of the existence and the possibility of realization of BERJ's tax credits. The amounts above are subject to restatement according to the Selic rate up to the date of payment.

Upon completion of the operation for the purchase and sale of shares, Bradesco will hold a public offering for minority shareholders.

With the acquisition of BERJ, Bradesco expands its presence in the state of Rio de Janeiro and reaffirms its confidence and partnership in its development. This acquisition is of great strategic value to Bradesco and its Shareholders, as it brings in hundreds of thousands of new customers in one of the Brazilian states with great economic potential and important investments, especially those in the exploration of the pre-salt oil layer and the 2016 Rio Olympics and the 2014 World Cup.

Banco Bradesco is one of Brazil’s largest private banks (non-controlled by government) in terms of total assets. The Bank provides a wide range of banking and financial products and services in Brazil and abroad to individuals, small to mid-sized companies and major local and international corporations and institutions.

Its services and products encompass banking operations such as lending and deposit-taking, credit card issuance, consortiums, insurance, leasing, payment collection and processing, pension plans, asset management and brokerage services.

25th May 2011