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Confirmation Of Exchange Offer For The Delisting And Removal From BM&FBOVESPA Level 2 Corporate Governance Of TAM S.A. (“Exchange Offer”)

TAM S.A., LAN Airlines S.A. and Holdco II S.A., as per item 4.2.1 of the notice of the Exchange Offer published on May 10, 2012 (the “Edital”), announce to their shareholders, the market and BM&FBOVESPA that all conditions mentioned in the Edital have been met and, therefore, the Exchange Offer is immutable and irrevocable.

The auction is confirmed to take place today at 10:00 am São Paulo time / 9:00 am Eastern Daylight Time on the electronic trading system of the Bovespa section of BM&FBOVESPA.

About LAN

LAN Airlines is one of the leading passenger and cargo airlines in Latin America. The company and its affiliates serve over 100 destinations around the world through an extensive network that offers full connectivity within Latin America, while also linking the region with North America, Europe and the South Pacific, as well as 70 additional international destinations through its various code share agreements. LAN Airlines and its affiliates have a leading position in their respective domestic markets of Chile and Peru as well as an important presence in the Argentinean, Ecuadorian and Colombian domestic markets.

Currently, LAN Airlines and its affiliates operate 132 passenger aircraft while LAN Cargo and its respective affiliates have a fleet of 14 dedicated freighters. The Company has one of the youngest fleets in the world which has meant greater efficiency and a significant reduction in CO2 emissions, reflecting its strong commitment to the protection of the environment.

LAN is one of the few Investment Grade airlines in the world (BBB). The company’s world class quality standards enabled its membership in oneworld™, an alliance of leading global airlines of which LAN has been a member for more than 10 years. For more information please visit or

Copyright Business Wire 2010

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