ACT OF THE PRESIDENCY

No. 10/2007

Subject: Gávea Revitalization Program

NOTICE

The President of Clube de Regatas do Flamengo, in the exercise of his duties, considering that the Gávea Revitalization Program is being processed by the Board of Directors, for subsequent forwarding to the Deliberative Council, resolves to open a period of 30 days, counting from the publication of this notice, for club members to present alternative projects.

Proposals must be sent to the Presidency of the Board of Directors and must contain technical and architectural definitions, as well as the financial structure and its guarantees.

Rio de Janeiro, July 11 of 2007

Marcio Baroukel de Souza Braga

President