Clarification Request

Porto Alegre, May 23, 2014.

Banco do Estado do Rio Grande do Sul S.A. ("Banrisul", "Bank" or "Company"), regarding the letter OFÍCIO/CVM/SEP/GEA-1/N º 306/2014, which deals with the news published in the Valor Econômico newspaper on May 22, 2014, under the under the headline "STJ decides in favor to savers in economic plan ruling", the Bank of the State of Rio Grande do Sul SA announces that the risks related to economic plans are reported to the market through the Reference Form (Section 'Risk Factors').
It is noteworthy that the decision of the Supreme Court concerning the starting point for the incidence of arrears is subject to appeal and is related to accessory items, and may eventually, if considered relevant, received due treatment as set forth by CVM Instruction no. 358/02.
Additional facts deemed relevant will be disclosed to the market in due course.

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