São Paulo, June 20, 2011 – GOL Linhas Aéreas Inteligentes S.A. (BM&FBovespa: GOLL4 e NYSE: GOL), (S&P/Fitch: BB-/BB-, Moody`s: Ba3), the largest low-cost and low-fare airline in Latin America and the controller of the Brazilian airline VRG Linhas Aéreas S.A. (“VRG”), hereby announces that the financial settlement of VRG’s 5th issue of simple, non-convertible unsecured debentures, with limited placement efforts and a firm guarantee took place today. The financing has a total term of six years.

The debentures were distributed publicly with restricted placement efforts, pursuant to Instruction 476 of January 16, issued by the Brazilian Securities and Exchange Commission (“CVM”), and directed exclusively to qualified investors, pursuant to the applicable legislation. The issue was in a single series and totaled R$ 500 million.

The Debentures will yield 120% of the CDI interbank rate and will be amortized in two consecutive annual payments with a 60-month grace period, maturing on the final payment date of June 10, 2017.

Interest will be paid every six months on June 10 and December 10 of each year.

The issuer may redeem the debentures at any time at its own criterion as of the 13th month following the issue date.