GOL to Commence Flights to Uruguay and Paraguay in Second Half ’05

SAO PAULO, Brazil, May 19 /PRNewswire-FirstCall/ — GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL; Bovespa: GOLL4), Brazil’s low-fare, low-cost airline, today announced that it has been authorized by the CERNAI (International Air Navigation Studies Commission) to operate regular flights to Montevideo and Asuncion, the capitals of Uruguay and Paraguay, respectively. With this authorization, the Company will take steps to begin implementing the new routes in the second half 2005.

Launching flights to both countries is part of GOL’s expansion plan in South America. Having a population of 3.4 million inhabitants and a GDP of US$ 11.2 billion, Uruguay is third in the region in number of enplanements to Brazil and vice-versa. Information for 2003 shows that 252,000 passengers flew between both destinations, representing 10.6% of the flow from Brazil to other South American countries. Bolivia, with 8.8 million inhabitants, is fourth in number of passengers flying either to or from Brazil, totaling 150,000 passengers.

GOL was also authorized by CERNAI to add an additional 26,694 regular seats per month in flights to Argentina, GOL’s first international destination, launched in December 2004. These additional seats will allow the increase of flight frequencies and will enable the use of the larger Boeing 737-800 NG aircraft, which can carry more passengers. “Expanding our operations beyond Brazil’s borders will extend the popularization of air transportation to our South American neighbors, satisfying demand while generating new business opportunities,” says Constantino de Oliveira Junior, CEO of GOL Linhas Aereas Inteligentes.

Sources: IMF World Economic Outlook, April 2004, Population Reference Bureau: 2004, World Population Data Sheet and Passengers: DAC (Civil Aviation Department).

About GOL Linhas Aereas Inteligentes

GOL Linhas Aereas Inteligentes, a “low-cost, low-fare” airline, is one of the most profitable and fastest growing airlines in the industry worldwide. GOL operates a simplified fleet of Boeing 737s with a single-class of service. GOL has one of the youngest and most modern fleets in the industry with low maintenance, fuel and training costs, and high aircraft utilization and efficiency ratios. In addition, safe and reliable services, which stimulate GOL’s brand recognition and customer satisfaction, allow GOL to have the best cost-benefit service in the market. GOL currently offers service to 41 major business and travel destinations in Brazil and Argentina. In 2005, GOL plans to grow by increasing frequencies in existing markets and adding service to additional markets in both Brazil and other high-traffic South American travel destinations. GOL shares are listed on the NYSE and the Bovespa. For more information, schedules and fares, please visit http://www.voegol.com.br/ or call 0300-789-2121 in Brazil, or 55 11 2125-3200 from outside Brazil. GOL: Here everyone can fly!

This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of GOL. These are merely projections and, as such, are based exclusively on the expectations of GOL’s management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in GOL’s filed disclosure documents and are, therefore, subject to change without prior notice.

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