TDLC receives information about the announced operation between LAN and TAM

Santiago, Chile, April 7, 2011 – LAN Airlines S.A. (LAN) (NYSE: LFL/IPSA: LAN) announced that on April 7, 2011, the Tribunal de Defensa de Libre Competencia (TDLC), Chile’s antitrust court, had as filed the documents presented on April 5, 2011 by LAN and TAM Linhas Aéreas S.A., Chile Branch (TAM), which provide information related to the announced business combination between LAN and TAM. These documents included a description of the operation, the reasons by which the operation fully satisfies the requirements of free competition, as well as the benefits it generates for consumers’ welfare.

As part of this process, a public version of the “Exchange Offer Agreement” and “Implementation Agreement” were also included. These documents were described in the essential fact (hecho esencial) of LAN Airlines S.A. dated January 19, 2011, and therefore qualify as information relevant to the market, investors and the general public. The aforementioned documents will be placed, in the same manner (as public versions) as filed with the TDLC, on LAN’s Investor Relations web page.

 Forward-Looking Statements

This website contains forward-looking statements, including with respect to the negotiation, implementation and effects of the proposed combination.  Such statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “would” or other similar expressions.  Forward-looking statements are statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on current plans, estimates and projections, and, therefore, you should not place undue reliance on them.  Forward-looking statements involve inherent risks and uncertainties.  We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.  These factors and uncertainties include in particular those described in the documents we have filed with the U.S. Securities and Exchange Commission.  Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them, whether in light of new information, future events or otherwise.


This press release relates to a proposed business combination between Lan Airlines S.A. (“LAN”) and TAM S.A. (“TAM”), which will become the subject of a registration statement and prospectus to be filed with the SEC by LAN and a new entity to be formed in connection with the combination. This press release is not a substitute for the registration statement, prospectus and offering materials that LAN and the new entity will file with the SEC or any other documents that they may file with the SEC or send to shareholders in connection with the proposed combination. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROSPECTUS, EXCHANGE OFFER DOCUMENTS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.  All such documents, if filed, would be available free of charge at the SEC’s website (www.sec.gov) or by directing a request to LAN Investor Relations, at 56-2-565-8785 or by e-mail at investor.relations@lan.com, or to TAM Investor Relations, at 55-11-5582-9715 or by e-mail at invest@tam.com.br.