TAM Files 2008 Form 20-F Annual Report in IFRS

For the first time, TAM's annual report contains financial statements prepared
in accordance with IFRS

SAO PAULO, Brazil, June 30 /PRNewswire-FirstCall/ -- TAM (NYSE: TAM, Bovespa:
TAMM4), in accordance with its reporting obligations, filed its annual report
on Form 20-F (the 2008 Annual Report) with the U.S. Securities and Exchange
Commission (the SEC) today. The 2008 Annual Report can be accessed on TAM's
website (www.tam.com.br), and the SEC's website (www.sec.gov).

(Logo: http://www.newscom.com/cgi-bin/prnh/20080221/SPTH002LOGO )

For the first time, and as permitted by the SEC's rules, TAM's 2008 Annual
Report contains financial statements prepared in accordance with international
financial reporting standards (IFRS) as issued by the International Accounting
Standards Board. In prior years, TAM's annual report on Form 20-F contained
financial statements prepared in accordance with Brazilian Generally Accepted
Accounting Practices (Brazilian GAAP), with a reconciliation to United States
Generally Accepted Accounting Practice (US GAAP). TAM is presenting its
financial statements in IFRS now ahead of the compulsory requirement in Brazil
that registered companies present IFRS financial statements in their CVM
filings for the financial statements for the year ended December 31, 2010. TAM
believes the adoption of IFRS will increase comparability with its peers
internationally, facilitating the valuation and investment decision by TAM's
investors.

In accordance with SEC rules, TAM's IFRS financial statements have a footnote
(note 4.2) that contains a reconciliation of certain line items between IFRS
and Brazilian GAAP. In order to further help investors in TAM's transition to
IFRS, TAM is also including an annex to the press release on its website that
contains both a summary of key accounting differences as they relate to TAM
and a description of a change in TAM's accounting treatment for certain
expenses.

In addition, shareholders may receive a hard copy of TAM's complete audited
financial statements free of charge by requesting a copy through TAM's
Investor Relations Department at +55 11 5582 9715 or email: invest@tam.com.br.

SOURCE TAM

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