SAO PAULO, Aug. 27, 2015 /PRNewswire/ -- In compliance with article 157, paragraph 4, of Law No.6,404 of December 15, 1976, as amended, and in accordance with the Comissao de Valores Mobiliarios ("CVM") Instruction No.358 of March 01, 2012, as amended, BRF S.A. ("BRF" - BM&FBovespa: BRFS3; NYSE: BRFS - "Company") hereby announces that, the Board of Directors at a meeting held today, approved the Company's Share Buyback Program ("Share Buyback Program") under the following conditions:

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    --  The goal of the Share Buyback Program is to promote an efficient use of
        available cash resources in order to maximize the Company's capital
        allocation;


    --  The Share Buyback Program will provide the acquisition of up to
        14,500,000 (fourteen million and five thousand) common shares, all
        book-entry shares and without face value, corresponding to 1.7% of the
        Company's share capital, excluding treasury shares;


    --  The Company's free float, according to the definition given by Article 5
        of CVM Instruction No. 10 of February 14, 1980, is 872,473,246 (eight
        hundred seventy two million, four hundred sixty tree thousand, two
        hundred forty six) common shares, all book-entry shares and without face
        value, based on the shareholding position as of this date;


    --  The term of the Share Buyback Program will be of 180 (one hundred and
        eighty) days from August 28, 2015 (inclusive), until February 24, 2016,
        and the Executive Board will be responsible to set the dates on which
        the buyback will be effectively executed. Any acquisition of shares will
        be compliant with the legal and regulatory blackout periods;


    --  The buyback transactions will be carried out through the following
        financial institutions:
        --  Bradesco S.A. Corretora de Titulos e Valores Mobiliarios, at Av.
            Paulista, 1.450, 7º andar, Bela Vista, in the city and state of Sao
            Paulo, SP, Corporate Taxpayer's ID (CNPJ) 61.855.045/0001-32
        --  Itau Corretora de Valores S.A., at Av. Brigadeiro Faria Lima, 3.500
            - 3º andar, part, Itaim Bibi, in the city and state of Sao Paulo,
            Corporate Taxpayer's ID (CNPJ) 61.194.353/0001-64.
        --  Merrill Lynch S.A. Corretora de Titulos e Valores Mobiliarios, at
            Av. Brigadeiro Faria Lima, 3.400, suite 161, Part A, Itaim Bibi, in
            the city and state of Sao Paulo, Corporate Taxpayer's ID (CNPJ)
            02.670.590/0001-95.

The shares acquired under the Share Buyback Program can be canceled, used for the Company's Stock Option Plan or for any other plans approved by the Company.

Augusto Ribeiro Junior
Chief Financial and Investor Relations Officer

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SOURCE BRF S.A.