TAM and TAP Portugal Broaden Codeshare Agreement

New phase of the partnership offers more convenience for passengers traveling
between Portugal and Argentina

SAO PAULO, Brazil, July 31 /PRNewswire-FirstCall/ -- TAM (Bovespa: TAMM4
and NYSE: TAM) and TAP Portugal are broadening the codeshare agreement signed
between the two companies to offer daily connections between Portugal and
Argentina. The partnership allows TAP to sell, with its own code, the flights
operated by TAM to Buenos Aires, Argentina, via Sao Paulo and Rio de Janeiro.
With the start of this new phase of the partnership between TAM and TAP,
passengers can check-in and send their luggage just once in Lisbon or Porto
and have quick connections in Sao Paulo and Rio de Janeiro to continue to
Buenos Aires, reducing the total travel time.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080221/SPTH002LOGO )
The partnership agreement, in effect since September 2007, also extends to
the TAM Loyalty and TAP Victoria programs, as well as including the entire
services network made available by the two companies, creating multiple
options for accumulating or exchanging points or miles.
"Broadening the agreement between TAM and TAP will be more convenient for
passengers traveling between Portugal and Argentina. We hope to extend this
new phase of the partnership to other South American destinations," stated
Paulo Castello Branco, TAM Vice-President of Planning and Alliances.
"The success of our partnership is evident," pointed out Jose Guedes Dias,
TAP Director of Alliances and External Relations. "The gradual broadening of
our cooperation demonstrates the commitment of both companies to ensure our
clients have services even more convenient and special in terms of quality and
reach. The mutual synergy of the TAP and TAM networks allows us to ensure the
most convenient connections between Portugal and Brazil, and now also to
Argentina".
TAP believes that strengthening its cooperation with TAM will result in a
considerably better service and range of options offered to its clients, which
reflects the company's main objective of anticipating and satisfying the
growing needs of its passengers.
Investor Relations:
Phone: (55) (11) 5582-9715
Fax: (55) (11) 5582-8149
invest@tam.com.br
http://www.tam.com.br/ir

Press Agency:
Phone: (55) (11) 5582-8167
Fax: (55) (11) 5582-8155
tamimprensa@tam.com.br
MVL Comunicacao
Phone: (55) (11) 3594-0302 / 0304 / 0305

About TAM:

TAM (http://www.tam.com.br) has been the leader in the Brazilian domestic
market since July 2003, and closed last June with a 48.6% market share. Among
Brazilian airline companies that operate international flights, TAM's market
share was 75.3%. The company operates flights to 42 Brazilian destinations. It
serves 79 different destinations in the domestic market through commercial
agreements with regional companies. Its international operations include its
own flights to 15 destinations in the United States, Europe and South America.
Additionally, it has codeshare agreements with international airline companies
that allow passengers to travel to another 64 destinations. TAM was the first
airline company to launch a loyalty program in Brazil. TAM's program currently
has 4.7 million members and has redeemed more than 5.5 million tickets in
exchange for points.
About TAP Portugal
TAP Portugal is the Portuguese airline market leader, and a member of the
Star Alliance since March 14, 2005 when the company celebrated its 60th
anniversary. Its Hub in Lisbon is a privileged access platform to Europe, at
the crossroads of Africa and North and South America, where TAP stands out as
the leading European airline operating in Brazil, with 67 flights weekly.
TAP's network currently covers 58 destinations in 25 countries worldwide.
Operating, on average, more than 1,850 flights weekly, TAP has a modern fleet
of 53 Airbus aircraft and an additional 16 aircraft working for PGA which TAP
acquired in 2007, forming a global fleet of 69 aircraft. Pursuing primarily a
client-orientated policy, TAP continually invests in innovation and in the use
of new technology, offering high quality, secure and reliable products and
services.
SOURCE TAM

Libano Miranda Barroso, TAM Investor Relations, +011-55-11-5582-9715, fax,
+011-55-11-5582-8149, invest@tam.com.br