OREANDA-NEWS. November 29, 2012. Banco Indusval S.A. (BI&P - Banco Indusval & Partners) (BM&FBOVESPA: IDVL3 and IDVL4), with reference to the attached Brazilian Mercantile, Futures and Stock Exchange (BM&FBOVESPA) letter GAE/CREM #4665/12 dated November 9, 2012 relating to the matters to be resolved on at the Extraordinary General Meeting to be held on November 22, 2012, clarifies that:

The amendment to Article 3 of the Company’s By-laws will not provide the shareholders with any withdrawal right considering that the conversion to a Multiple Bank merely expands its financial activities, without changing its corporate purpose. This conversion aims to adapt the Company to the new competitive conditions without jeopardizing the essential purpose provided in its Bylaws.

In case of change of corporate purpose, the dissident shareholders shall have the right of withdrawal. However, this is applicable in the case of a resolution to replace the company’s original purpose by a new one, at all different from the risk conditions by the time the shareholder joined the company. A corporate purpose minor modification, such as an extension to additional activities within the Company’s industry, does not grant the right of withdrawal.

Banco Indusval S.A. shareholders will have preemptive rights to acquire Indusval S.A. Corretora de Titulos e Valores Mobiliarios preferred shares considering the proportion described in the Management Proposal.