Banrisul - Investor Relations Mobile
Notice to Shareholders - Interest on Equity Payment related to the 1Q08

NOTICE TO SHAREHOLDERS

INTEREST ON EQUITY PAYMENT RELATED TO THE 1ST QUARTER OF 2008

We hereby inform the Shareholders, according to the decision made at the Board of Director’s Meeting held on May 06, 2008, that we will carry out the payment of interest on equity related to the first quarter of 2008, in the amount of R$42,717,802.01 (forty two million, seven hundred and seventeen thousand, eight hundred and two Reais and one cent) which, after Income Tax withholding at source, results on net interest on equity of R$36,310,131.71 (thirty six million, three hundred and ten thousand, one hundred and thirty one Reais and seventy one cents).

All shareholders registered with this company as owners or beneficial owners of these shares on 05/07/2008 will be entitled to these payments.

Initial Payment: 05/30/2008

Class / Type of Share Interest on Equity’s Gross
Value, per Share
Income Tax
Withholding at Source (15%)
Interest on Equity’s Net
Value, per Share
ON R$0.104451 R$0.015668 R$0.088783
PNA R$0.104451 R$0.015668 R$0.088783
PNB R$0.104451 R$0.015668 R$0.088783

As stated in article 79 of the Company’s Bylaws, in article 9 of Law no. 9,249/95 and in item V of the Instruction no. 209/96 of the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários − CVM), the amount of Interest on Equity will be credited to the dividend referring to fiscal year 2008.

Income Tax:
The payments will be subject to Income Tax withholding at source, pursuant to the pertinent legislation, except for corporate shareholders with proof of immune or exempt condition.

Forms of Payment:
The payments will be credited to the current accounts of the shareholders holding current accounts with BANRISUL. For the remaining shareholders, the payment will be carried out in any bank branch agency, upon identification.

The holders of shares in custody will receive the interest on equity payments through the brokerage firm where they carry out the respective deposit.

Limitation Period:
Pursuant to the pertinent legislation, Law 6404 - art. 287, unclaimed interest on equity payments expire in three years, as from the date they were made available to the shareholder.

Porto Alegre, May 26, 2008.

Ricardo Richiniti Hingel
CFO & Investor Relations Officer
BANCO DO ESTADO DO RIO GRANDE DO SUL S.A.

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Contact IR

Phone: +55 51 3215-3232
E-mail: ri@banrisul.com.br

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