TAM Renews Sarbanes-Oxley Certification

SAO PAULO Brazil April 14 PRNewswire - - Company forms part of select group of 40 publicly traded Brazilian companies to receive certification of good corporate governance TAM Bovespa TAMM4 NYSE TAM announces that for the second year in a row it has received the Sarbanes-Oxley Certification SOX conferred by theindependent auditing firm of PriceWaterhouseCoopers attesting to fulfillmentof the requirements established by Section 404 of the Sarbanes-Oxley Lawconcerning internal controls over consolidated financial statements Logo httpwwwnewscomcomcgi-binprnh20080221SPTH002LOGO Renewal of the Sarbanes-Oxley Certification reaffirms TAMs commitmentto high ethical standards and good corporate governance practices It alsoshows the companys permanent attention to ensuring a high level of controlover its procedures transparency and value creation for shareholdersemphasizes Libano Barroso Vice President for Finance and Management andDirector of Investor Relations Receiving this attestation is in keeping withthe search for excellence in management one of the companys three pillars- along with excellence in technical and operational services - which haveguided the companys performance TAM received SOX certification in April 2007 and now with the renewalhas become the sixth company in a select group of 40 publicly tradedBrazilian companies to receive such recognition Created to protectshareholders of publicly traded companies from the risk of fraudulentaccounting practices the law requires companies with shares traded on theNew York Stock Exchange to upgrade the structure of their internal financialcontrols improve procedures and provide greater transparency in theiractivities carried out through the tracking and assessment of relevantprocedures having to do with financial statements Another requirement of Section 404 of SOX is that these efforts beevaluated in a specific audit performed by independent auditors This auditconcluded that the controls that support financial statements for December31 2007 and their publication were effective in all relevant respects Compliance with this law is intended to guarantee investors that allfinancial information disclosed is consistent with the results obtained andis reliable demonstrating TAMs commitment to quality and integrity withregard to both the market and society Investor Relations Phone 55-11-5582-9715 Fax 55-11-5582-8149 investtamcombr wwwtamcombrir Press Agency Phone 55-11-5582-8167 Fax 55-11-5582-8155 tamimprensatamcombr MVL Comunicacao Phone 55-11-3594-0302 0304 0305 About TAM TAM wwwtamcombr has been the leader in the Brazilian domestic marketfor more than four years and closed March 2008 with a 514 market share Thecompany operates flights to 42 Brazilian destinations It serves 79 differentdestinations in the Brazilian market through commercial agreements withregional companies Among Brazilian airline companies TAMs internationalmarket share was 689 in March Its international operations include directflights to 17 destinations New York and Miami USA Paris France LondonEngland Milan Italy Frankfurt Germany Madrid Spain Buenos Airesand Cordoba Argentina Santiago Chile Caracas Venezuela Montevideoand Punta del Este Uruguay Asuncion and Ciudad del Este Paraguay andSanta Cruz de la Sierra and Cochabamba Bolivia Additionally it has codeshare agreements with international airlines which allow passengers totravel to another 64 destinations in the United States South America andEurope TAM was the first airline company to launch a loyalty program inBrazil TAMs program currently has 45 million members and has redeemed morethan 52 million tickets in exchange for points Web site httpwwwtamcombrTAM