NET RAO 2009 – NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. Operations
2. Description of the Significant Accounting Policies
3. Transition to IFRS
4. Business combinations
5. Net Sales
6. Cost of services rendered
7. Finance results
8. Expenses by nature
9. Cash and cash equivalents
10. Trade accounts receivable
11. Inventories
12. Judicial deposits
13. Income taxes and social contribution
14. Deferred and recoverable taxes
15. Property and Equipment
16. Intangible assets
17. Trade Accounts Payable
18. Accounts Payable – Programming Suppliers
19. Financial liabilities
20. Copyright Payable – ECAD
21. Related parties
22. Commitments and provisions
23. Shareholders’ equity
24. Guarantees
25. Earnings per Share
26. Financial Instruments
27. Measurement and fair value hierarchy
28. Insurance

	12/31/2009	12/31/2008	01/01/2008

Cash and banks	138,994	124,789	61,729
Banking deposit certificates	98,106	252,901	4,449
Fixed-income investment funds	778,505	359,190	503,428
	1,015,605	736,880	569,606

Bank deposit certificates (CDBs) earn an average of 101.5% of the CDI interbank rate (9.84% in 2009). CDBs are issued by first-line banks with daily liquidity, guaranteed buyback, floating interest rates based on the CDI rate, have daily valuation, are registered with the Cetip clearing corporation and have immediate and total access.

Fixed-income investment funds are represented by shares in exclusive investment funds whose assets are mainly CDBs and government bonds which have immediate and total access.