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Corporate Taxpayer's ID (CNPJ/MF) #71.673.990/0001-77
Company's Register (NIRE) #35.300.143.183
Publicly-held Company
Subscribed and Paid-up Capital: R$ 230,761,985.57 ­ 427,193,055 common shares
Authorized Capital: up to 14,117,070 common shares
HELD ON MARCH 29, 2006
On March 29, 2006, at 2:30 pm, at the headquarters located in the city of
Itapecerica da Serra, state of São Paulo, at Rodovia Régis Bittencourt, s/n.º, Km 293,
Edifício I, with the attendance of all its members, the Board of Directors of NATURA
COSMÉTICOS S.A. held a meeting with the purpose of, pursuant to caput and paragraph
one of the Article 18 of the Company's Bylaws, to examine, discuss and vote the election
of three (3) Co-Chairmen of the Board of Directors and the appointment of one of them
to chair the Board of Directors' meetings until the investiture of Board members to be
elected at the Annual General Meeting to be held in 2007.
After examining the matter, the Board members approved by unanimous
vote and without any reservation, (i) to elect for the positions of Co-Chairmen of the
Company's Board of Directors, Messrs. Antonio Luiz da Cunha Seabra, Guilherme Peirão
Leal and Pedro Luiz Barreiros Passos and (ii) to appoint Mr. Guilherme Peirão Leal,
among the Co-Chairmen, to chair the meetings of the Company's Board of Directors until
the investiture of Board members to be elected at the Annual General Meeting to be held
in 2007.
Nothing more to be discussed, the Chairman of the Board declared the
adjournment of the meeting to draw up these Minutes, which after being read and
approved, these were signed by all the Board members. Signatures: Guilherme Peirão
Leal, Chairman of the Meeting and Co-Chairmen of the Board; Antonio Luiz da Cunha
Seabra, Co-Chairmen of the Board; Pedro Luiz Barreiros Passos, Co-Chairmen of the
Board; Edson Vaz Musa, Board member and José Guimarães Monforte, Board member.
I certify this present instrument is a free English translation of the Minutes
drawn up in the company's records.
Chief Financial Officer and Chief Investor Relations Officer