Board Meeting - Minute


Atualizado em 2007-08-06T17:42:14
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$390,579,041.73 - 428,916,966 Registered
Shares of Common Stock[ON]
   Authorized Capital: up to 13,116,665 ON
                    shares

  MINUTES OF THE BOARD OF DIRECTORS MEETING

            HELD ON AUGUST 6, 2007

      On August 6, 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/n.º,
Km 293, Edifício I, the  Board  of  Directors
of NATURA  COSMÉTICOS  S.A.  held  a  meeting
with the attendance of all  its  members  and
under the  chairmanship  of  Mr.  Pedro  Luiz
Barreiros  Passos,  with  the   purpose   of,
pursuant to paragraph XXIV of article  20  of
the Company's Bylaws,  examining,  discussing
and voting on the contracting  of  long  term
loans,  aiming  to  finance   the   Company's
temporary  cash  needs,  within  the   normal
course of its businesses.

            After analyzing the  matter,  the
members  approved,  by  unanimous  vote   and
without  reservations,  the  contracting   of
long term loans of up to thirty (30)  months,
in the total amount of up to  ninety  million
reais    (R$90,000,000.00),    in    domestic
currency,  or   domestic-currency-denominated
foreign  currency,  with   the   purpose   of
financing  the   Company's   temporary   cash
needs,  within  the  normal  course  of   its
businesses.

           The    Board    members    hereby
authorize the Company's  Board  of  Executive
Officers  to  practice  all  and   any   acts
Atualizado em 2007-08-06T17:42:14
All the dates of this page are presented in official timezone of Brasilia - Brazil.