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Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ______       No ___X___

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ACAL 

PETROQUÍMICA TRIUNFO S.A.

Net Worth Appraisal Report – Book Value

Appraisal date: December 31 2008

Issue date: March 31 2009

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NET WORTH APPRAISAL REPORT 

ACAL CONSULTORIA E AUDITORIA S/S, a valuation specialist with registered office at 181 Av. Rio Branco, 18^th floor, in the city and state of Rio de Janeiro, zip code 20040- 007, registered at the Rio de Janeiro State Regional Accountants Council under number 1144 and with corporate taxpayer’s registration number 28.005.734/0001 - 82, with Mr. Gelson Jose Amaro, registered accountant at the Rio de Janeiro State Regional Accountants Council under number 049669/O-4 and with individual taxpayer’s registration number 339.408.607/78, as the person technically in charge, was contracted by PETROQUIMICA TRIUNFO S.A., a joint stock corporation with registered office at 222 Av. Carlos Gomes, 8^th floor, Bairro Auxiliado, city of Porto Alegre, Rio Grande do Sul State, zip code 90480-000, with corporate taxpayer’s registration number 90.751.025/0001 - 10 (“PETROQUIMICA TRIUNFO S.A.”), in order to evaluate the net worth of PETROQUIMICA TRIUNFO S.A., which is to be incorporated into BRASKEM S.A., a listed joint stock corporation with registered office at 1561 Rua Eteno, Polo Petroquimico de Camaçari, city of Camaçari, Bahia State, zip code 42810-000, with corporate taxpayer’s registration number 42.150.391/0001 - 70 (“BRASKEM S.A.”) in accordance with article 227, paragraph 1, and other provisions, of Law 6404/76, as set out herein below: 

This appraisal report is split up into sections as follows: 

• Aims 
• Principles and qualifications 
• Methodology adopted and summary of work carried out 
• Conclusion 

I. AIMS

This appraisal report aims to record the appraisal, book value, of the net worth of PETROQUIMICA TRIUNFO S.A. for the purposes of incorporation of the whole business by BRASKEM S.A. in accordance with the terms and provisions set out in article 227, paragraph 1, of Law 6404/76 (“Joint Stock Corporation Law”). 

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II. PRINCIPLES AND QUALIFICATIONS

The execution of this work adhered strictly to the following fundamental principles: 

• ACAL consultants have no direct or indirect interest in the companies involved in the operation and there are no circumstances whatsoever that may characterize a conflict of interest for the issuing of this report. 

• To the best of their knowledge, ACAL consultants’ analysis, opinions and conclusions as set out herein are based on true and correct data, due diligence, research and findings. 

• ACAL’s professional fees are not in any way subject to the findings and conclusions of this report. 

• This report is based on the assumption that information received from third parties is correct and the sources of said information are contained in the report. 

• The report was drawn up by ACAL and no one else other than its own consultants carried out any analysis and respective findings and conclusions. 

• This report meets the specifications and criteria set by USPAP (Uniform Standards of Professional Appraisal Practice) and by the Joint Stock Corporation Law, as well as demands imposed by different agencies and regulations where applicable, such as: Treasury Department, Brazilian Central Bank, Banco do Brasil, Brazilian Securities and Exchange Commission (CVM in Brazil), Brazilian Institute of Independent Auditors (IBRACON), Income Tax Regulation (RIR in Brazil). 

• The controllers and management of the companies involved did not direct, limit, hinder or practice any acts that did or might have compromised access to, use or knowledge of information, assets, documents or work methodologies regarding the respective findings and conclusions contained herein. 

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III. METHODOLOGY ADOPTED AND SUMMARY OF WORK CARRIED OUT

We were contracted by PETROQUIMICA TRIUNFO S.A. in order to appraise the net worth of the company on December 31 2008 according to net book value. 

Within the parameters defined for carrying out this appraisal, determining the net book value of PETROQUIMICA TRIUNFO S.A. on December 31 2008 was also based on a limited review of PETROQUIMICA TRIUNFO S.A.’s financial statements drawn up on that date. 

This procedure was carried out in accordance with certain normal auditing practices obeying regulatory and statutory provisions and standards governing the matter within the “Generally Accepted Accounting Principles” and, consequently, includes proof in the accounting records for the circumstances necessary to the specific aim of determining a net book value of the company’s net worth. 

These investigations found that said records and elements were in accordance with legal formalities as well as those of the Generally Accepted Accounting Principles and have been uniformly and consistently applied by PETROQUIMICA TRIUNFO S.A., drawn up in accordance with the Joint Stock Corporation Law, as well as in accordance with the demands imposed by different agencies and regulations where applicable, such as: Treasury Department, Brazilian Central Bank, Banco do Brasil, Brazilian Securities and Exchange Commission (CVM), Brazilian Institute of Independent Auditors (IBRACON), Income Tax Regulation (RIR); mainly with regards to the standards set by the Brazilian Securities and Exchange Commission (CVM), including administrative rulings #319/99 and #469/08. 

Furthermore, we checked the books and accounting records that were the basis for the balance sheet of PETROQUIMICA TRIUNFO S.A., as well as respective original documents based on selective sampling and testing. 

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IV. CONCLUSION

After due examination and technical checking carried out by us at PETROQUIMICA TRIUNFO S.A., and based on the data referred to in this Appraisal report, we consider that the net book value of PETROQUIMICA TRIUNFO S.A., for the purposes of incorporation by BRASKEM S.A. for the date December 31 2008, to be R$117,989,288.35 (one hundred and seventeen million nine hundred and eighty- nine thousand two hundred and eighty- eight Reais and thirty- five cents) in accordance with that set out in ATTACHMENT I and the following table: 

Net Book Value on December 31 2008
Description		Amounts in Reais (BRL)
Stock capital subscribed and paid in		63,252,761.52
Capital reserves		7,052,289.38
Profits to reserves		40,525,097.88
Treasury stock		(1,225,554.43)
Adjustments to net worth value		8,384,694.00
Total net book value to be incorporated		117,989,288.35

On December 31 2008, authorized stock capital stood at R$68,874,202.26 and stock capital subscribed and paid in at R$63,252,761.52, made up of 29,666,296 ordinary shares and 34,165,890 class “A” preference shares, totaling 63,832,186 shares. The per share par value is R$0.9990922691. Share breakdown: 

	Ordinary	Preference A	Total Share Capital
	%	%	%
Petrobras Quimica S.A. (Petroquisa)	70.45	95.99	84.12
Petroplastic Ltda.	28.83	4.01	15.54
Treasury stock	0.72	-	0.34
	100.00	100.00	100.00

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ATTACHMENT

The document attached hereto is an integral and inseparable part of this report. Said document is: 

Attachment I – Net Book Value of Petroquimica Triunfo S.A. on December 31 2008. 

And as an expression of our best technical understanding, we hereby sign this Appraisal Report. 

Rio de Janeiro, March 31 2009. 

ACAL CONSULTORIA e AUDITORIA S/S 

Rio de Janeiro State Regional Accountants Council registration number 1144 

Gelson Jose Amaro 

Partner in charge 

Accountant, Rio de Janeiro State Regional Accountants Council registration number 049669/O-4 

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		ATTACHMENT I
PETROQUIMICIA S.A.
Breakdown of Net Book Value for
December 31 2008
(Amounts in Reais – R$ - BRL)
ASSEST
Current assets				163,616,366.90
Cash in hand				1,732,115.70
Financial investments				7,073,378.84
Accounts receivable (clients)				63,658,711.73
Stock				67,672,095.71
Tax to claw back				19,505,843.40
Other amounts receivable				3,866,114.06
Expenses for the coming year				108,107,46
Non-current
Long-term assets				10,036,257.35
Deferred income tax and social security contribution				6,520,360.66
Legal deposits				3,416,884,82
Other amounts due				99,011.87
Investments				11,963,006.32
Shares held in BRASKEM S.A.				11,931,812.33
Other investments held at cost				3,367,594.42
Provision for losses on investments held at cost				(3,336,400.43)
Fixed				25,656,688.16
Intangible				1,297,747.23
Total ASSETS				212,570,065.96
LIABILITIES
Current liabilities				(57,290,079.65)
Suppliers				(4,099,883.49)
Loans and financing				(32,229,929.02)
Tax and social security contributions payable				(2,854,683.78)
Holidays and gratifications payable				(7,119,419.50)
Dividends proposed and payable				(8,731,995.20)
Other accounts payable and commissions				(2,254,168.66)
Non-current
Long-term				(37,290,697.96)
Loans and financing				(30,289,012.77)
Taxes and social security contributions				(7,001,685.19)
Total LIABILITIES				(94,580,777.61)
Net Worth (net book value)				117,989,288.35
Made up of:
Capital subscribed and paid in		63,252,761.52
Reserve capital		7,052,289.38
Profits to reserve		40,525,097.88
Treasury stock		(1,225,554.43)
Adjustments to net worth		8,384,694.00		117,989,288.35
Share breakdown

Shareholders		Ordinary %		Preferred %		Total Stock Capital %
Petrobras Quimica S.A. (Petroquisa)		70.45		95.99		84.12
Petroplastic Ltda.		28.83		4.01		15.54
Treasury stock		0.72		-		0.34
Total		100.00		100.00		100.00
Attachment to Net Book Value Appraisal report, appraisal date 12/31/2008, issued on March 31 2009.

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 15, 2009

	BRASKEM S.A.
	By:	/s/      Carlos José Fadigas de Souza Filho
		Name:	Carlos José Fadigas de Souza Filho
		Title:	Chief Financial Officer

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