GOL Announces Distribution of Dividends

São Paulo, April 27, 2011 – GOL Linhas Aéreas Inteligentes S.A. (BM&FBovespa: GOLL4 and NYSE: GOL), (S&P/Fitch: BB-/BB-, Moody`s: Ba3), the largest low-cost and low-fare airline in Latin America, communicates to the shareholders that the General Shareholders’ Meeting, at a session held on April 27, 2011, approved the payment of dividends to the shareholders in connection with the profits earned in fiscal year 2010, as follows:

Dividends Payment

1. Amount of Dividends: R$ 50,871,877.16 (fifty million, eight hundred and seventy-one thousand, eight hundred and seventy-seven reais and sixteen cents), corresponding to R$ 0.18814478 per common and preferred share.

2. Ex-right Date: The shares shall be traded at the São Paulo Stock Exchange (BOVESPA) and at the New York Stock Exchange (NYSE), ex-right to the dividends, beginning on and including May 5, 2011.

3. Dividends Payment: The dividends shall be paid to the shareholders on June 22, 2011.