NEWS RELEASE

REQUEST FOR ARBITRATION PROCEEDING

Rio de Janeiro, January 24th, 2014 - HRT Participações em Petróleo S.A. rd, 2014, a copy of the letter sent by the shareholder JG Petrochem Participações Ltda. ("JG Petrochem") to the shareholder Discovery Capital Management, LLC ("Discovery") informing about the application for commencement of an arbitration proceeding before the Market Arbitration Chamber ("Câmara de Arbitragem do Mercado"), pleading to acknowledge that Discovery and other Discovery group's companies which are also shareholders of HRT infringed the obligation to conduct a public offering for having exceeded, unofficially, the limit of 20% stake in the capital of HRT, as provided for in HRT's By-Laws. Additionally, it notifies about a second request for commencement of an arbitration proceedings, claiming compensation for damages in favor of HRT.

JG Petrochem declares, as shareholder with a relevant equity interest, that the parties are bound by the arbitration clause set forth in Clause 55 of HRT By-Laws, as well as in Section XIII of the Novo Mercado Rules. The letter was sent along with the two application documents and its certificates of filing on the Market Arbitration Chamber, having been sent simultaneous copies to the Brazilian Securities and Exchange Commission ("CVM") and BM&FBOVESPA S.A. - Securities, Commodities and Futures Exchange ("BM&FBOVESPA").

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