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(Rio de Janeiro, January 8, 2003) - PETRÓLEO BRASILEIRO S.A. - PETROBRAS, [BOVESPA: PETR3/PETR4, NYSE: PBR/PBRA, LATIBEX: XPBR/XPBRA], Brazil;sep1s biggest oil & gas, petrochemicals and energy company announces to its shareholders that will be paid on January 13, 2003 the interim payment to shareholders in the form of interest on capital, on a gross value of R$ 1.00 for each common and preferred share. This payment is subject to 15% (fifteen percent) withholding tax at source, except for immune or exempt shareholders, on the basis of the November 12, 2002 shareholding position. This value will be restated in accordance with the variation in the Selic Rate for the period from December 31, 2002 to the payment date. Payments will be effected by BANCO ITAÚ S.A. The interim payment corresponding to those shares held with the STOCK EXCHANGE FUNDGIBLE CUSTODY SERVICE, will be credited to the appropriate Stock Exchanges, which, through member BROKERS acting as clearing agents, will be responsible for transferring funds to the shareholders. Rio de Janeiro, January 08, 2003. PETRÓLEO BRASILEIRO S.A. - PETROBRAS João Pinheiro Nogueira Batista CFO and Investor Relations Director http: //www.petrobras.com.br/ri/ingles Contacts: Petróleo Brasileiro S.A - PETROBRAS Investor Relations Department Luciana Bastos de Freitas Rachid - Executive Manager E-mail: petroinvest@petrobras.com.br Av. República do Chile, 65 - 4 th floor 20031-912 - Rio de Janeiro, RJ (55-21) 2534-1510 / 2534-9947 Copyright PRLine Spain