GLOSSARY

BANPARÁ or Bank: Banco do Estado do Pará

DICRI: Control, Risk and Investor Relations Department.

DICOM : Commercial and Promotion Department.

DIFIN : Financial Department.

DIRAD : Administrative Department.

DITEC : Technology Department.

Focus Bulletin of the Central Bank of Brazil (BCB): market report published weekly with forecast of about one hundred (100) financial analysts on various indicators of the Brazilian economy.

Fapespa: Amazon Foundation For Support of Studies and Research of Pará: responsible for promoting research in science, technology and innovation in the state of Pará.

Ferro Carajás S11D Project: project for the implementation of a mining complex in Serra dos Carajás, more specifically in the subdivision called Serra Sul, for the exploration of iron ore in Block D of the S11 geological block.

GDP: growth domestic product: represents the sum (in monetary values) of all the assets and final services produced in a region (country, state or city) during a certain period (month, quarter, year, etc).

IMF : International Monetary Fund: an international organization created at the Bretton Woods Conference (1944). The Organization‘s declared goals are to foster international economic cooperation, international trade, employment and exchange rate stability, including through providing financial resources to member countries in order to assist in the equilibrium of their balance of payments.

IBC-Br: Index of Economic Activity of the Central Bank of Brazil: This monthly index measures the country‘s economic activity. It incorporates estimates for agriculture, industrial production and the services sector, as well as taxes on products. It is, therefore, an indicator which shows the trajectory of variables considered as proxies (approximate figures of other indicators) of the performance of the three main sectors of the economy.

IBGE : Brazilian Institute of Geography and Statistics: responsible for demographic surveys, statistical research on various topics (from environmental to financial), tracking of indicators about Brazil, and geographic information, in addition to being the foundation responsible for the Brazilian Geodetic System (SIG).

INPC : (National Consumer Price Index): measured by the IBGE since September 1979. It is calculated based on regional Consumer Price Indexes and aims to demonstrate price variations in the retail market, thus showing the increase in the cost of living of the population.

IPCA : Broad National Consumer Price Index: an index published monthly by the IBGE, created with the purpose of showing price variations for final consumers. The IPCA is considered Brazil‘s official inflation index.

IR: Investor relations.

MZ: Founded in 1999, "MZ" is Latin America‘s leading consulting firm in business communication, reputation and value.

NURIG : Investor Relations and Corporate Governance Center

PEC: Proposed Constitutional Amendment: an amendment to the constitution of a state, resulting in specific changes to the constitution, restricted to certain issues and which cannot abolish entrenched clauses (federative form of State; direct, secret, universal and periodic vote; separation of powers and rights and individual guarantees).

p.p: percentage points.

SELIC: Special System for Settlement and Custody: The SELIC benchmark rate is an interest rate established by the Brazilian Monetary Policy Committee (COPOM) of the Central Bank of Brazil used as basis for remunerating investors who buy and sell government bonds. It is obtained by calculating the average weighted interest rate charged by financial institutions. As of 1995, the Selic basic interest rate has been used for calculating the monetary restatement of overdue federal taxes and contributions. For that reason, the rate is used to calculate the monthly payments of individual income tax (IRPF).

SUMOC : Currency and Credit Superintendence: The Currency and Credit Superintendence (Sumoc) was created at the end of Getulio Vargas’ first period as President, through Decree-law 7,293, of February 2, 1945, which instituted the Brazilian monetary authority with the mission of setting up a central bank for the country.

U.S.: United States of America.