NOTICE TO SHAREHOLDERS

In compliance with CVM Instruction 358 of January 3, 2002, Banco Panamericano S.A. (BPNM4) announces to shareholders and the market that on today’s date the Board of Directors approved the distribution of interest on equity, to be calculated towards the mandatory dividend for the fiscal year 2009, in the amount of R$ 32,000,000.00 (thirty-two million reais), corresponding to R$ 0.130962937 per share, subject to the withholding of income tax at the rate of 15%, except for shareholders that demonstrate exemption from said tax or those residing in countries or jurisdictions for which legislation establishes different tax rates.

Payment will be effected by April 30, 2010, based on the positions held by the Company’s shareholders on today’s date. The Company’s stock will begin trading ex interest on equity as of January 4, 2010, inclusively.

São Paulo, December 30, 2009

WILSON ROBERTO DE ARO
Investor Relations Officer

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