TAM Takes First Place in Investor Ranking

SAO PAULO, Brazil, Dec. 14 /PRNewswire-FirstCall/ - Institutional investors in Brazil and abroad have named TAM (Bovespa: TAMM4 and NYSE: TAM) the Most Shareholder-Friendly Company in Brazil in the airline and transportation industry, according to a survey in the December issue of Institutional Investor magazine.

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Portfolio managers and analysts at more than 115 institutions consulted by the magazine also named TAM's vice-president for Finance and Management, Libano Barroso, the best Chief Financial Officer (CFO) in the industry in Brazil. "The survey result represents recognition by the market of our commitment to a high level of corporate governance and transparency," says Barroso.

Marco Antonio Bologna, currently advisor to the holding company Familia Amaro - TAM Empreendimentos e Participacoes S/A (TEP), was elected the third best Chief Executive Officer (CEO) of the industry in Brazil. Bologna headed the company from January 2004 to November 28, 2007, when he handed over the position to Comandante David Barioni Neto, TAM's new president.

Institutional Investor magazine is a specialized monthly publication focused on the investment community, with more than 130 thousand readers around the world.

    Investor Relations Contact:            Press Agency Contact:
    Phone: (55) (11) 5582-9715             Phone: (55) (11) 5582-8167
    Fax: (55) (11) 5582-8149               Fax: (55) (11) 5582-8155
    invest@tam.com.br                      tamimprensa@tam.com.br
    http://www.tam.com.br/ri

About TAM:

TAM (www.tam.com.br) has been the leader in the Brazilian domestic market for more than four years, and held a 49.9% domestic market share and 73.2% international market share at the end of November 2007. TAM operates regular flights to 47 destinations throughout Brazil. It serves 81 different cities in the domestic market through regional alliances. Additionally, it maintains code-share agreements with international airline companies that allow passengers to travel to a large number of destinations throughout the world. TAM was the first Brazilian airline company to launch a loyalty program. Currently, the program has over 4.3 million subscribers and has awarded more than 4.7 million tickets.