3. Management

3.1 2008 Elections: a democratic, transparent process

Elections were held in May, at PREVI, to fill 11 vacancies. Four tickets contended for the preference of the some 166,000 participants in a democratic, transparent electoral process which took place smoothly. Ticket 3 – Competence, Safety, and More Benefits was the winner, raking in 48,363 votes (49.5% of the total valid votes) to support its proposals.

Two full members and two substitutes were elected for the Deliberative Body, a full member and a substitute for the Audit Committee, the full member of the Social Security Board, and a full member and a substitute for the advisory boards, both for Plano 1 and for PREVI Futuro. The Banco do Brasil appointed the directors for the Participations Board and for the Investments Board, the chairman of the Deliberative Body, a member of the Audit Committee, two members of the Advisory Board for Plano 1 and two for the Advisory Board of PREVI Futuro. The respective substitutes were also appointed to the Boards, totaling 14 new directors. Elected and appointed board members took office in June and their term is through 05/31/2012.

3.2 New website rolled out

The new website was rolled out in October. The goal is to draw PREVI even closer to the participant. The new website’s design and features are aimed to turn it into a space in which the participants can reinforce their relationships with their colleagues and with the Entity.

Based on studies carried out on the structures of Brazilian and foreign pension plan websites, the new layout seeks to improve the positive points of the previous version, to be user-friendly for browsing and in its design, to facilitate access to content and to establish itself even further as the main relationship channel between PREVI and its members.

3.3 PREVI among the world’s top 40 funds

Holding resources in the order of $77.6 billion, PREVI ranks 34th on the list of the world’s 300 biggest pension funds, according to a ranking published by Pensions & Investments and based on December 2007 values. Specialized in supplemental social security, the American publication publishes the global pension fund ranking in terms of managed resources. The publication is based on the previous year’s balance sheet.

In 2007, PREVI ranked 49th in the pension fund list, and in 2008 it remained the leading Latin American pension fund.

3.4 Adjusting to the new legislation

PREVI is in line with the new legislation that deals with preventing and combating the crimes of good, right, and value washing or hiding. The issue is regulated by the Office of Supplemental Pension Plans Instruction 26, of 09/01/2008.