Financial Income

Financial income was negative R$ 293.4 million in 2008. In relation to 2007, the main variations were a R$ 45.3 million increase in passive interest, resulting from loans taken out in the period, and the recording of the financial expense of the amortization of the onus of R$ 26.4 million, which will bring tax benefits for the company. In terms of financial revenue, the main impact was felt in the monetary and exchange rate variations, giving a reduction of 88.7% in relation to the previous year.