The five best performing Brazilian exchange-listed ADRs at the end of November 2010 are listed below:

1.Ambev (ABV)
Change YTD: 34.34%

2. Embraer (ERJ)
Change YTD: 31.71%

3.Braskem (BAK)
Change YTD: 30.83%

4. Ultapar (UGP)
Change YTD: 26.14%

5. Comp. Paranaense de Energia (ELP)
Change YTD: 16.14%

The five worst performing Brazilian exchange-listed ADRs at the end of November 2010 are listed below:

1. Petroleo Brasileiro (PBR)
Change YTD: -31.96%

2. Fibria Celulose S.A. (FBR)
Change YTD: -33.10%

3. Tele Norte Leste (TNE)
Change YTD: -34.22%

4. Centrais Eletricas Brasileiras-Eletrobras (EBR)
Change YTD: -36.56%

5. Brasil Telecom (BTM)
Change YTD: -48.53%

Disclosure: Long PBR