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Petrobras and São Martinho announce strategic partnership
to produce ethanol in Brazil‘s Midwest

São Paulo, June 21, 2010 - São Martinho S.A. (BM&FBovespa: SMTO3) and Petróleo Brasileiro S.A. (BM&FBovespa: PETR3, PETR4; NYSE: PBR, PBRA), announce the formalization of a strategic partnership to increase ethanol production in Goiás state, located in Brazil‘s Midwest Region.

The partnership involves São Martinho Group‘s wholly-owned subsidiaries "Usina Boa Vista S.A." and "SMBJ Agroindustrial S.A.", the latter incorporated for the purpose of developing a new greenfield project to produce ethanol. The Boa Vista plant is located in Quirinópolis, state of Goiás, and has a current sugarcane crushing capacity of 2.5 million metric tons per year.

Sincerely,

João Carvalho do Val
Chief Financial and Investor Relations Officer

Felipe Vicchiato

Investor Relation Manager

Telefone: 11 2105-4100
Email: ri@saomartinho.ind.br
IR Website: www.saomartinho.ind.br/ir

About São Martinho

The São Martinho Group is one of the largest sugar and ethanol groups in Brazil, with annual sugarcane crushing capacity of 14 million metric tons. The group operates three mills: São Martinho, in Pradópolis (in the Ribeirão Preto region of São Paulo state); Iracema, in Iracemápolis (in the Limeira region of São Paulo state); and Boa Vista (in Quirinópolis, 300 km from Goiânia, in Goiás state); as well as a unit producing a ribonucleic acid known as Omtek, which is also based in Iracemápolis. The group‘s average harvest mechanization ratio is 82%, with this figure reaching 100% at the Boa Vista Mill. For more information, please visit the website at www.saomartinho.ind.br.

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