GOL notice to the market: Statement of a reduction in shareholding interest

GOL Linhas Aéreas Inteligentes S.A. (BM&FBovespa: GOLL4 and NYSE: GOL) (S&P/Fitch: BB-/BB-, Moody’s: Ba3), the largest low-fare, low-cost airline in Latin America, hereby informs that it received on March 10, 2011, the following notice from its shareholder, AllianceBernstein L.P. and its affiliate AXA Investment Managers:

“In accordance with the main section of Article 12 of CVM Instruction No. 358 of January 3, 2002, AllianceBernstein L.P., a company duly organized and existing in accordance with the laws of the State of Delaware, United States of America, headquartered at 1345 Avenue of the Americas, New York 10105, United States of America, and its affiliate AXA Investment Managers, a company duly organized and existing in accordance with the laws of France, headquartered at Coeur Défense Tour B, 100 Esplanade du Général de Gaulle, 92932 Paris la Défense, France (jointly, “AllianceBernstein”), in its capacity as managers of funds and/or other discretionary investment management clients abroad, hereby informs that the funds and/or other discretionary investment management clients abroad under their administration disposed, through certain deals on stock exchange, directly or through American Depositary Receipts – ADRs, of ,7,673,669 (seven million, six hundred and seventy three thousand, six hundred and sixty nine) preferred shares issued by GOL LINHAS AÉREAS INTELIGENTES S.A. (“Company”), representing 5.76% of all shares of such class, thus holding currently 1,075,200 (one million, seventy five thousand and two hundred) preferred shares issued by the Company, corresponding to 0.807% of all shares of such class.

This is a minority investment that does not involve a change in the composition of corporate control or a change in the management structure of the Company. Currently, AllianceBernstein does not target any quantity of the Company’s preferred shares. No other affiliate of AllianceBernstein holds any interest on the Company. There are no convertible debentures already held, directly or indirectly, by AllianceBernstein or related person, nor any agreement or contract regulating voting rights or the purchase and sale of securities issued by the Company, to which AllianceBernstein or any related person is a party.”