PELOTON MULTI-STRATEGY MASTER FUND with its letter to Delta Holding S.A. dd. 02/05/2006, notifies the change in its participation in the share capital of Delta Holding S.A., as follows: Nature of transaction: Purchase of shares. Percentage of voting rights before the change: 4,98%, after the change: 5,006%. Number of shares with voting rights before the change: 2.218.205 after the change: 2.229.310. Total outstanding shares of the company: 44.524.314. Date of change in the participation of the party notifying: 28/04/2006.