NEW YORK, May 18, 2009 — The Bank of New York Mellon, the global leader in asset management and securities servicing, has been selected by OGX Petróleo e Gás Participações S.A. (“OGX”) as depositary bank for its global depositary receipt (GDR) program. Each OGX ordinary share will represent five GDRs. The OGX GDRs will trade on the over-the-counter market under the symbol "OGXPY." The ordinary shares are listed on the São Paulo Stock Exchange (BOVESPA) under the symbol "OGXP3."

OGX, part of the EBX Group, is Brazil's largest private sector oil and gas company in terms of offshore exploration area. Its portfolio is composed of 22 exploratory blocks in the Campos, Santos, Espírito Santo and Pará-Maranhão Basins, which combined have a total area of 6,800 km² (2,700 square miles). In June 2008, the company raised funds in the order of R$6.7 billion in its initial public offer, the largest amount ever raised in a Brazilian IPO.

"As we increase the Company's visibility throughout the global financial markets, a GDR program will provide additional investors the opportunity to participate in our growth," said Marcelo Torres, CFO of OGX. "We are pleased to work with The Bank of New York Mellon, which has the expertise necessary to execute our GDR program successfully."

"As OGX establishes a greater presence in the international markets, we will put our specialized DR resources to work on its behalf," said Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon's Depositary Receipt Division. "We will work closely with the company to develop customized outreach initiatives to help OGX, along with the EBX Group Companies, elevate their profile among global investors."

The Bank of New York Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $19.5 trillion in assets under custody and administration, $881 billion in assets under management, services more than $11 trillion in outstanding debt, and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.

This release is for informational purposes only. The Bank of New York Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.