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NATURA COSMÉTICOS S.A.
CNPJ/MF No. 71.673.990/0001-77 Publicly-held Company NIRE 35.300.143.183
Capital Subscribed to and Paid-in: R$ 232,237,080.50 ­ 427,670,432 Registered
Shares of Common Stock [ON]
Authorized Capital: up to 14.117.070 ON shares
MINUTES OF THE BOARD OF DIRECTORS MEETING
HELD ON JULY 26, 2006
On July 26, 2006, at 11:00 a.m., at the Company's Headquarters located in the
City of Itapecerica da Serra, State of São Paulo, at Rodovia Régis Bittencourt, s/n
o
, Km
293, Edifício I, the Board of Directors of NATURA COSMÉTICOS S.A. held a meeting,
with attendance of all of its members and under the chairmanship of Mr. Guilherme
Peirão Leal, for the purpose of, pursuant to the provisions of article 28, paragraph
fifth, of the Company's Bylaws, examining, discussing and voting the Board of
Directors proposal for credit and payment of interest on own capital, referring to the
months of November and December of 2005, and to the months of January to July of
2006, to be allocated as the legal dividend for the fiscal year to be ended on December
31, 2006.
After the subject being analyzed, the directors approved, by unanimous vote
and without any reservations, to be ratified by the Annual Shareholders Meeting
designed to discuss the financial statements related to the fiscal year to be ended
on December 31, 2006, that:
1. On August 10, 2006, interest on own capital, referring to the months of
November and December of 2005, and to the months of January to July of 2006, shall
be paid to shareholders in the aggregate amount of thirty-three million, five
hundred and sixty-eight thousand, nine hundred and twenty-four reais and ninety-
six centavos (R$ 33,568,924.96), representing R$ 0.078765241 per share, with
Income Tax withheld at Source of fifteen percent (15%), resulting in interest on net
own capital in the amount of R$ 0.6695045 per share, except for the shareholders who
are proven immune or exempt;
2.
The calculation base for such interest on own capital shall be the
equity position on July 31, 2006 and, from August 1
st
, 2006 on, the Company
shares shall be negotiated ex interest on own capital; and
3.
The Company should record the credits corresponding to the interest
on own capital in its accounting books at July 31, 2006.
As there are no other subjects to be discussed, the Chairman of the
Presiding Committee declared the meeting closed, determining the drafting of these
minutes that, upon being read and approved, were signed by all directors.
Signatures: Guilherme Peirão Leal, Chairman of the Meeting and Co-chief executive
operation of the Board; Antonio Luiz da Cunha Seabra, Co-chief executive operation
of the Board, as represented by Guilherme Peirão Leal; Pedro Luiz Barreiros Passos,
Co-chief executive operation of the Board; Edson Vaz Musa, director and José
Guimarães Monforte, director.
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JOSÉ DAVID VILELA UBA
Chief Financial Officer and Chief Investor Relations Officer