Stock Option Plan

Investor Relations

The Stock Option Plans of Banco Indusval S.A. aim at stimulating the expansion of the Company and the fulfillment of the established business targets, enabling the Company to attract and maintain its officers and management-level employees, by offering them the additional advantage of becoming shareholders of the Company, under the partnership concept that guides the new vision and strategy of Indusval & Partners.

The following Stock Options Plans were approved for managers and management-level employees of the Company, as well as the natural persons who provide services to the Company or to a company under its control:

Stock Option Plan I approved by the Extraordinary General Meeting of Shareholders held on 03/26/2008.

Stock Option Plan II approved by the Extraordinary General Meeting of Shareholders held on 04/29/2011.

Stock Option Plan III approved by the Extraordinary General Meeting of Shareholders held on 04/29/2011.

The Company’s Board of Directors, supported by the Compensation Committee, defines the directives of the Stock Option Plans and approves the semiannual option programs.

Below the share options distributed by Banco Indusval S.A.:

Date Granted	Plan	Grace Period	Term for Exercise	Strike Price - R$	Quantity
Date Granted	Plan	Grace Period	Term for Exercise	Strike Price - R$	Granted	Exercised	Rights Expired	Not Exercised
22.07.08	I	Three years	Five years	10.07	161,896	-	-	161,896
10.02.09	I	Three years	Five years	5.06	229,067	46,477	10	182,580
22.02.10	I	Three years	Five years	8.56	525,585	-	69,482	456,103
06.08.10	I	Three years	Five years	7.72	261,960	-	25,639	236,321
09.02.11	I	Three years	Five years	8.01	243,241	-	32,023	211,218
01.07.11	II	Three years	Five years	4.60	1,167,463	-	126,212	1,041,251
23.12.11	II	Three years	Five years	4.60	435,322	-	-	435,322
23.12.11	III	Five years	Seven years	0.92	1,850,786	-	-	1,850,786
30.01.12	I	Three years	Five years	6.84	618,195	-	-	618,195
30.01.12	II	Three years	Five years	4.60	101,069	-	-	101,069
TOTAL		-	-	-	5,594,584	46,477	253,366	5,294,741

Last Update: May 4, 2012.

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