In accordance with the provisions of Chapter II, Article 50, § 1º, II and 2º, I of the Internal Regulations, the President of the Deliberative Council informs the members that, as of this date, he is opening a period of fifteen (15) days, for the presentation of amendments to the proposal to change Article 131 of the Statute, presented by the President of the Board of Directors, as worded below:

Rio de Janeiro, June 18, 2007.

Walter Felippe D'Agostino

President

"Of. Pres. 054/2007

Rio de Janeiro, RJ, June 12, 2007

Dear Sir,

Des. Walter Felippe D'Agostino

MD President of the Deliberative Council of the Flamengo Regatta Club

In this

Subject: Amendment to the Current Statute

Mr. President,

I hereby request that you, as a matter of urgency, take the necessary steps to approve the amendment to Chapter X, Article 131 of the current Statute, as proposed in the annex.

The change is recommended not only to adapt the Organizational Structure of the Board of Directors to the management principles currently recommended for institutions the size of Flamengo, but also to allow compliance with the Goals Plan established for the 2007-2009 triennium.

Furthermore, I hereby inform you that, for any clarification deemed necessary, the Vice-President of Planning, José Maria TC Sobrinho, is at your disposal and that of the Committees of this Council.

Certain of your attention, I send my thanks, with the best wishes of appreciation and high consideration.

Best Regards,

Marcio Baroukel de Souza Braga

Chairman of the Board of Directors

PROPOSAL TO AMEND THE STATUTES

Chapter X

The Organizational Structure of the Board of Directors

Art. 131 – The Organizational Structure of the Board of Directors will be made up of Operational Units for the management of Flamengo’s core activities; Departments for the management of support activities; and advisory bodies to the Presidency.

I – Operational Units

The Operating Units adhere to the following principles:

- Management Autonomy, with planned delegation, granted by the Board of Directors;

- Operation according to an Action Plan;

- Financial self-sufficiency;

- Commitment to sporting, financial, administrative and patrimonial goals; and,

- Professional administration.

FLAMENGO's main activities will be carried out through four Operational Units, namely: Rowing, Football, Olympic Sports and Fla-Gávea.

I.1 – Remo’s responsibilities are:

- manage activities related to FLAMENGO Rowing, in order to achieve the sporting, financial, patrimonial and administrative goals established in the Rowing Action Plan and approved by the Board of Directors.

I.2 – The responsibilities of Football are:

- manage activities related to Football, in order to achieve the sporting, financial, patrimonial and administrative goals established in the Football Action Plan and approved by the Board of Directors.

I.3 - The responsibilities of Olympic Sports are:

- manage activities related to the Olympic sports that FLAMENGO practices in official competitions, in order to achieve the sporting, financial, patrimonial and administrative goals established in the Olympic Sports Action Plan and approved by the Board of Directors.

I.4 - Fla-Gávea's responsibilities are:

- manage activities related to the use and maintenance of FLAMENGO's headquarters, in order to achieve the social, financial, asset, and administrative goals established in the Fla-Gávea Action Plan and approved by the Board of Directors. Specific activities of Fla-Gávea include:

- organize, control, store and preserve the assets that constitute FLAMENGO's historical heritage collection;

- manage the facilities that display FLAMENGO's historical collection;

- promote the practice of physical education and sports not included in other Departments;

- manage the football “school”;

- manage the Club's water park; tennis; bocce; the medical division; and other activities and services intended for members and which are not included in this article, as a responsibility of another Department;

- promote cultural, artistic, civic, recreational, welfare and community activities;

- control and receive fees and monthly payments due from members;

- issue, sign membership cards and control member support services; and,

- perform maintenance and operation, including repairs, cleaning, telephone, concierge, reception and security services, at the headquarters.

II – Departments

FLAMENGO will have three Departments to manage support activities, namely: Administration and Finance, Marketing and Planning.

II.1 - The responsibilities of the Administration and Finance Department are:

- plan, control and execute FLAMENGO's economic and financial policy;

- manage the Club's real estate assets;

- plan, execute and supervise FLAMENGO's works;

- propose, control and execute the Club's human resources policy;

- propose, control and execute the Club's Technology policy;

- propose, control and execute the Club's material management policy, except for sports equipment subject to specific contracts;

- manage the Club's movable assets;

- exercise control over the inventory of movable property; and,

- issue standards inherent to support services, contracting processes for amounts above a certain ceiling established by the Board of Directors and other similar procedures.

II.1.1 – The Administration Department will have five directorates: Finance, Assets, Human Resources, Technology and Logistics.

II.2 - The Marketing Department's responsibilities are:

- manage the marketing activities of the FLAMENGO brand, properties and events, through sponsorships, licensing and relationship marketing;

- propose, control and implement FLAMENGO's communication policy;

- propose, control and monitor FLAMENGO's Public Relations policy.

II.3 - The Planning Department's responsibilities are:

- prepare, develop and monitor FLAMENGO's strategic planning;

- prepare and present, for approval by the Board of Directors, the annual budget proposal;

- monitor and control the budget;

- develop and monitor the execution of social projects and projects approved by the Board of Directors, with a specific purpose; and

- act towards the permanent patrimonial and economic expansion of FLAMENGO.

III – Advisory Bodies to the Presidency

FLAMENGO will have three advisory bodies to the Presidency, namely: Flamengo's Attorney General's Office, Flamengo's General Secretariat and the Presidency's Office.

III.1 - The responsibilities of the FLAMENGO Attorney General's Office are:

- issue opinions and provide legal assistance to the Powers and Bodies of FLAMENGO; and, by delegation of the president, defend legal interests and represent FLAMENGO in court or out of court, personally or through Directors or lawyers;

- manage FLAMENGO's litigation – tax, labor and civil;

- assist the President in representation activities with government and sports bodies and entities, in the country and abroad;

- act, together with the Planning Department, towards the permanent patrimonial and economic expansion of FLAMENGO.

III.2 - The responsibilities of Flamengo's General Secretariat are:

- manage, keeping permanently updated, the membership registry; prepare the minutes of the Board of Directors meetings; preside over the Inquiry Committee; send, receive, distribute and file Flamengo's correspondence; issue standards and monitor compliance with the preparation and drafting of documents; and promote the publication and dissemination of administrative acts and documents.

III.3 - The responsibilities of the Office of the President are:

- advise the President and Vice-President of the Club on institutional and administrative matters, in the analysis of the merit and opportunity of projects and proposals submitted to the President; supervise the administrative activities of the Presidency; issue the Presidency's correspondence.

§ 1 - The President may create Councils, at the level of the Presidency and Operational Units, and Commissions, at the level of Departments and Advisory Bodies, as well as appoint Special Advisors to the Presidency, all with duties and deadlines established in the Act of creation or appointment.

§ 2 – The heads of the Board of Directors’ bodies will be the Vice-Presidents of Operational Units and Departments, or will receive a specific designation in line with the established attributions.”