SAO PAULO, Dec. 21, 2012 /PRNewswire/ -- GOL Linhas Aereas Inteligentes S.A. (BM&FBovespa: GOLL4 and NYSE: GOL), (S&P: B, Fitch: B+, Moody's: B3), the largest low-cost and low-fare airline in Latin America, in compliance with the provisions set forth in CVM Instruction no. 358/2002, hereby announces to its shareholders and the market that its Board of Directors approved at a meeting held today the sale of the Company's preferred shares held in treasury, pursuant to the CVM Instruction no. 10, dated February 14, 1980, as amended, under the conditions below.

The purpose is the sale of preferred shares of the Company held in treasury, given the termination of the Company's stock repurchase program, approved at the Board of Directors' Meeting held on August 11, 2011, due to the fact that the circumstances which resulted in the shares being held in treasury no longer prevail. The maximum term for the sale of shares as authorized shall be February 13, 2013, counted as from this date.

The number of shares to be sold is of up to 3,724,225 preferred shares of the Company held in treasury.

The number of outstanding shares of the Company is ninety-eight million, one hundred and twenty-nine thousand, four hundred and thirty-seven (98,129,437) preferred shares, as recorded in the stock deposit account informed by the depositary financial institution on December 20, 2012. To access the document full version, visit our website at www.voegol.com.br/ir.

CONTACTS

INVESTOR RELATIONS
Edmar Lopes – CFO
Andre Brandi - Planning and IR Manager
Gustavo Mendes - Investor Relations
Phone: (11) 2128-4700

E-mail: ri@golnaweb.com.br
Website: www.voegol.com.br/ri
Twitter: @GOLinvest

CORPORATE COMMUNICATIONS
Phone: (11) 2128-4413
E-mail: comcorp@golnaweb.com.br
Twitter: @GOLcomunicacao

MEDIA RELATIONS
Edelman (USA and Europe): Meaghan Smith and Robby Corrado
Phone: +1 (212) 704-8196 / 704-4484
E-mail: meaghan.smith@edelman.com or robert.corrado@edelman.com

ABOUT GOL LINHAS AEREAS INTELIGENTES S.A.

GOL Linhas Aereas Inteligentes S.A. (Bovespa: GOLL4 and NYSE: GOL), the largest low-cost and low-fare airline in Latin America, offers around 900 daily flights to 65 destinations in 10 countries in South America, Caribbean and the United States under the GOL and VARIG brands, using a young, modern fleet of Boeing 737-700 and 737-800 Next Generation aircraft, the safest, most efficient and most economical of their type.

SOURCE GOL Linhas Aereas Inteligentes S.A.