MercadoLivre launches buying and selling platform in Portugal

The largest online commerce site in Latin America is now available for people and companies who want to buy and sell through the Internet

BUENOS AIRES, Argentina, March 25, 2010 - MercadoLivre, the largest e-commerce site in Latin America, is expanding
its operations and launching its platform in Portugal. The Portuguese –
people and companies — will be able to access the site at MercadoLivre.pt
(www.mercadolivre.pt) to purchase and sell over the Internet, and all
they will need to do is sign up as users. It is already possible to find new
and used products in some categories on the site.

Stelleo Tolda, MercadoLivre COO, said that the company is continuously
analyzing new business opportunities and Portugal appeared as a favorable
market, with growing Internet penetration and e-commerce trends. "The
expansion of our operations is related to our development strategy and
strengthens the company," he said.

MercadoLivre today has operations in 12 Latin American countries –
Argentina, Brazil, Mexico, Uruguay, Colombia, Venezuela, Chile, Ecuador,
Peru, Costa Rica, the Dominican Republic and Panama. In 2009, more than 3
million users sold products and 9 million people made 29.5 million product
purchases through the platform, which represents an increase of 39% over the
previous year. The volume sold reached US$ 2.75 billion. Of the total items
sold, more than 80% are new products and 90% are at a fixed price.

The decision to enter Portugal is based on analyses regarding the
country's market potential, taking into account certain data such as growth
of the percentage of the population that uses Internet and per capita GDP. In
the case of Portugal, 46.2% out of a population of about 10.6 million people
have residential broadband Internet access and this percentage is
continuously growing, according to PORDATA. The per capita GDP also has been
rising since 2005.

According to a survey conducted by the E-Commerce and Interactive
Advertising Association, e-commerce companies in Portugal reported an average
20% increase in the number of clients that made purchases over the Internet
in the last quarter of last year. Moreover, there was an increase in trading
volumes, even during the economic crisis in Europe.

Site operations — Those interested in using the platform must sign up
(https://cadastro.mercadolivre.com/jms/mpt/com.mercadolibre.registracion.cont
roller.registrationServlet?) for free as a user and the process is simple:
just create a username and a password. Using this combination, it is possible
to announce a product for sale or to act as a buyer. " MercadoLivre can be
considered a retail social network, supplying the platform where users can
offer their products and negotiate with the buyers," said Stelleo Tolda. At
the end of the process, both sides involved in the negotiation must rate
their counterparts and, in this way, both will have point averages reflecting
their reputations. (
www.mercadolivre.pt/jm/ml.faqs.portalFaqs.FaqsController?axn=verCateg&categId=CALI).

The negotiation between the users involves the possibility for the buyer
to ask questions of the seller regarding the product's characteristics and
delivery and payment conditions.

In order to generate a flow of visitors to the site, online marketing
investments have been scheduled along with media releases.

According to Stelleo Tolda, MercadoLivre will be bringing Portuguese Web
users a more democratic commerce experience by offering a platform where an
individual, micro, small or large company can sell products on the Web.
During difficult economic times, this is an opportunity to obtain income that
is being used by more than 40 million individuals in Latin America, whose
total or partial income comes from operations through the site, according to
a survey from The Nielsen Company.

About MercadoLivre

MercadoLivre is a technology company with a history of more than 10 years
of activities that offers e-commerce solutions to people and companies who
want to buy, sell, pay for and advertise new and used products and services
over the Internet.

It is the e-commerce leader in Latin America, with 42.6 million
registered users, of which more than 3 million persons sold and more than 9
million persons made 29.5 million product purchases last year. All of the
company's numbers are disclosed taking into account its operation in the 12
countries where it is present: Argentina, Brazil, Mexico, Uruguay, Colombia,
Venezuela, Chile, Ecuador, Peru, Costa Rica, the Dominican Republic and
Panama.

MercadoLibre, Inc.'s shares have been traded on the Nasdaq (Nasdaq: MELI)
since 2007 and employees more than 1,400 people. It is one of the 27 brands
considered to be "Great Brands of the Future" by the Credit Suisse Research
Institute.

MercadoLivre Corporate Communications, Sao Paulo/BRASIL, Wilma Loures, +55-11-3040-4210, +55-11-6421-1175, Wilma.loures at mercadolivre.com; or MercadoLibre Corporate Communications, Buenos Aires/ARGENTINA, Lorena Diaz Quijano, +54-911-3770-1836, lorena.diazquijano at mercadolibre.com