Board Meeting - Minute


Atualizado em 2007-02-28T19:51:58
All the dates of this page are presented in official timezone of Brasilia - Brazil.

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NATURA COSMÉTICOS S.A.

|CNPJ/MF No.    |Publicly-h|NIRE        |
|71.673.990/0001|eld       |35.300.143.1|
|-77            |Company   |83          |

    Capital Subscribed to and Paid-in: R$
   233,862,055.13 - 428,193,460 Registered
         Shares of Common Stock [ON]
   Authorized Capital: up to 14,117,070 ON
                    shares

  MINUTES OF THE BOARD OF DIRECTORS MEETING
          HELD ON FEBRUARY 28, 2007

On February 28, 2007, at 10:00 a.m.,  at  the
Company's headquarters located  in  the  City
of Itapecerica da Serra, State of São  Paulo,
at Rodovia Régis Bittencourt, s/no,  Km  293,
Edifício I, the Board of Directors of  NATURA
COSMÉTICOS S.A.  held  a  meeting,  with  the
attendance of all of its  members  and  under
the  chairmanship  of  Mr.  Guilherme  Peirão
Leal,  for   the   purposes   of   examining,
discussing and  voting,  pursuant  to  clause
XIV of article 20  of  the  Company's  Bylaws
and the Minutes of  the  Company's  Board  of
Directors Meeting held on February  21,  2006
at 1:30  p.m.,  the  proposal  to  amend  the
wording of article 5 and caput of  article  6
of   the   Company's   Bylaws   related   to,
respectively, the  amount  of  the  Company's
capital  stock   and   quantity   of   shares
subscribed  and  paid  and   the   limit   of
authorized   capital,   deriving   from   the
exercise   of   call   options    or    share
subscription,  during  2006,   by   Company's
management  and  employees,  as  well  as  by
management  and   employees   of   subsidiary
companies, directly or indirectly  controlled
by the Company, participants of the  Addendum
to the Plan for the Granting of  Call  Option
or Subscription of Common  Shares  Issued  by
the Company related to the Calendar  Year  of
Atualizado em 2007-02-28T19:51:58
All the dates of this page are presented in official timezone of Brasilia - Brazil.