Banco Mercantil do Brasil S.A. (a corporation, or sociedade por acoes, incorporated in the Federative Republic of Brazil)

BELO HORIZONTE, Brazil, Dec. 29, 2015

By December 11, 2015, at 5:00 p.m. EST (the "Early Tender Date"), the Bank had received valid tenders from Holders of U.S.$37,824,000 in principal amount of Notes.

Pursuant to the Offer Documents, in case of oversubscription, validly tendered Notes would be accepted for purchase on a prorated basis up to the amount of the Tender Cap. In accordance with the Offer Documents, Notes were accepted for purchase in the proportion of 69.2% of the principal amount of Notes validly tendered (and not validly withdrawn or rejected) by each Holder prior to the Early Tender Date.

Pursuant to the Offer to Purchase, tendered Notes that, as a result of proration, would have resulted in the return of Notes in principal amounts less than U.S.$100,000 ("Authorized Denominations"), would be rejected in their entirety.  On December 14, 2015, the Bank announced that it had elected to amend the terms of the Offer to allow for the acceptance of any such Notes which would otherwise have been rejected because applying the proration procedures thereto would result in their return to their respective Holders in an amount less than the Authorized Denominations.

The Bank hereby announces that, because the Tender Offer was fully subscribed as of the Early Tender Date, the Bank will not be accepting for purchase any Notes not already purchased on the Early Settlement Date. Any Notes tendered pursuant to the Tender Offer but not accepted for purchase by the Bank on the Early Settlement Date will be promptly returned to Holders.

D. F. King & Co., Inc. acted as the tender agent (in such capacity, the "Tender Agent") and as the information agent (in such capacity, the "Information Agent") for the Offer. HSBC Securities (USA) Inc. acted as Dealer Manager for the Offer (the "Dealer Manager").

This press release does not constitute an offer to sell any securities or the solicitation of an offer to buy any securities, nor does it constitute an offer to purchase securities in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer under applicable securities or "blue sky" laws.