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NOTICE TO THE MARKET

Brasil Brokers Participações S.A. ("Company"), pursuant to Article 12 of CVM Instruction 358, informs the market that the shareholder Lone Pine Capital LLC, a foreign investor pursuant to CVM Resolution 2689/00, through the funds under its management, informed that on December 19, 2008, it reached 10.01% (Ten points zero one percent) stake in the Company, holding 16,832,100 of the total 168,205,342 common shares that make up the capital stock of Brasil Brokers Participações S.A.

The aforementioned funds are Lone Balsam LP, CNPJ: 05.447.083/0001-85; Lone Cypress LTD, CNPJ: 05.447.103/0001-18; Lone Dragon Pine LP, CNPJ: 09.405.265/0001-44; Lone Him Pine Master Fund LTD, CNPJ: 09.405.266/0001-99; Lone Sequoia LP, CNPJ: 05.447.121/0001-08 and Lone Spruce LP, CNPJ: 05.447.127/0001-77.

The funds managed by Lone Pine Capital LLC state that, on said date, they did not have any related party or hold any other securities issued by the Company or execute any agreement regulating voting rights or the purchase and sale of the Company‘s securities.

The Company hereby clarifies, in accordance with the information provided by the foreign investor, that the acquisition was merely for investment purposes, without aiming to change the management, control structure or regulate the functioning of the Company.

Rio de Janeiro, December 22, 2008.

BRASIL BROKERS PARTICIPAÇÕES S.A.
Álvaro Soares
Chief Financial and Investor Relations Officer

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