<table><tr><th>From:</th><th>Institutional Investor Daily&lt;</th></tr><tr><td>Sent:</td><td>Wednesday, August 8, 2012 2:26 PM</td></tr><tr><td>To:</td><td>jeeproject@yahoo.com</td></tr><tr><td>Subject:</td><td>Local Banks Reign Supreme in Brazil Research</td></tr></table>

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href="http://ems.=uromoney.com/ems/r.asp?cIndex=699081&mIndex=1280524301&hurl=htt=%3A//www.institutionali
nvestor.com/Article/3072552/BTG-Pactual-Fields-B=azils-Best-Sales-Force.html">BTG Pactual Fields Brazil's Best Sales
For=e

Two Brazil-based firms= BTG Pactual and Rao BBA, top this year's All-Brazil Sales Team ranking.=/P>Read the full story at institutionali nv=stor.com.

<http://ems=2Eeuromoney.com/ems/r.asp?cIndex=699081&mIndex=1280524301&hurl==ttp%3A//www.institutionalinvestor.com/Article/3072552/BTG-Pactual-Field=-Brazil's-Best-Sales-Force.html>

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href="http://ems.=uromoney.com/ems/r.asp?cIndex=699081&mIndex=1280524301&hurl=htt=%3A//www.institutionali
nvestor.com/Article/3072553/BTG-Pactual-No-1-in-=razil-Trading-Services.html">BTG Pactual: No. 1 in Brazil Trading
Ser=ices

All-Brazil Top in Trading All-Brazil Team. Rese=rch and All-Brazil Sales, BTG Pactual and Rau BBA are also in No. 1 an= No. 2 position in the

Read the full story at institutionalinvestor.com.

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