Goldman Sachs Launches Onshore Private Wealth Management Platform in Brazil

New York, NY October 1, 2009 — The Goldman Sachs Group, Inc. (NYSE: GS) announced today that it is expected to launch its onshore Private Wealth Management (PWM) business in Brazil later this month. Based in Sao Paulo, PWM Brazil will exclusively offer local clients onshore products denominated in Reais.

"We serve our private clients globally and can enhance that with local presence in particular markets. We are excited to offer a full service platform including the delivery of onshore investment products and services to clients in Brazil," said Timothy J. O'Neill and Marc A. Spilker, Co-Heads, Investment Management Division, Goldman Sachs.

PWM Brazil will offer, over time, a full array of products, including equity and fixed income brokerage, mutual funds, alternative investments, futures, derivatives and structured products. PWM Brazil will operate on an open architecture platform, enabling it to offer clients the best of proprietary and independent product offerings.

"Brazil is a strategic focus for Goldman Sachs and we are excited to expand our presence to include Private Wealth Management," said Valentino Carlotti, President of Goldman Sachs Brazil.

"As more Brazilians decide to keep their assets onshore, we are positioned to offer more sophisticated investment options and solutions to complex wealth management needs," said Beatriz Sanchez, Managing Director and Regional Manager of Latin America for Goldman Sachs PWM. "The team we have on the ground, led by Fernando Vallada, is experienced in dealing with the high-net-worth segment of the market that Goldman Sachs is known for globally."

Globally, Goldman Sachs Private Wealth Management delivers individually tailored solutions that help preserve, grow and transfer wealth for high-net-worth individuals and families, corporate executives, entrepreneurs and select institutions including foundations and endowments. Goldman Sachs Private Wealth Management provides a range of regionally specific wealth services, including asset and liability management, facilitation of philanthropic gifting and planning for future generations. At the core of this offering is a highly personalized, service-intensive approach in which private wealth teams serve as a focal point for delivering the full capabilities of Goldman Sachs to our clients.

The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

Media Contacts:
Andrea Raphael or Melissa Daly in New York
Tel: 212-902-5400

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