GOL Gets Long-Term Financing from the BNDES

GOL, Brazil´s low-cost, low-fare airline, announces that its Board of Directors has given its operating company the green light to enter into a R$ 75.7 million loan with the BNDES (Brazilian National Economic and Social Development Bank).

The tenor of the BNDES loan is six years with an interest rate of 2.65 percent over the long-term borrowing rate, currently set at 8.15 percent in reais.

The direct credit line approved by the BNDES will be used to bankroll a

significant part of the Company´s multi-year investment plan for the

three-year period ending in fiscal 2006

Main focus will be on the construction of facilities at the GOL Aircraft Maintenance Center at the Confins International Airport in Minas Gerais, the acquisition of nationally manufactured equipment, the acquisition and customization of nationally manufactured software, and the technical training of employees.