Management Report, Financial Statements and Accounting Statements, as accompanied by the Opinion of the Independent Auditors and the proposal of allocation of net profits in the fiscal year ended on December 31, 2007


Atualizado em 2008-02-27T19:14:18
All the dates of this page are presented in official timezone of Brasilia - Brazil.

File Text

NATURA COSMÉTICOS S.A.

|Corporate      |Publicly-h|Company's   |
|Taxpayer's ID  |eld       |Register    |
|(CNPJ/MF)      |Company   |(NIRE)      |
|71.673.990/0001|          |35.300.143.1|
|-77            |          |83          |

    Capital Subscribed to and Paid-in: R$
    390,617,976.28- 428,929,051 Registered
         Shares of Common Stock [ON]
   Authorized Capital: up to 13,116,665 ON
                    shares

  MINUTES OF THE BOARD OF DIRECTORS MEETING
          HELD ON FEBRUARY 27, 2008

      On February 27, 2008,  at  09:00  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 attendance of all  of  its  members  and
under the  chairmanship  of  Mr.  Pedro  Luiz
Barreiros  Passos,  for   the   purpose   of,
pursuant to  articles  20,  item  X  and  27,
paragraph two of the Company's Bylaws and  to
the   legislation   in   force,    examining,
discussing and voting the Management  Report,
Financial    Statements    and     Accounting
Statements, as accompanied by the Opinion  of
the Independent Auditors and the proposal  of
allocation of net profits in the fiscal  year
ended on December 31, 2007, to  be  addressed
to   the    Company's    shareholders,    for
discussion   at   the   Annual   Shareholders
Meeting to be held on March 31, 2008.

      After the subject being  analyzed,  the
board members concluded,  by  unanimous  vote
and  without  any   reservations,   for   the
acuteness   of   the    Management    Report,
Financial  and  Accounting   Statements,   as
accompanied   by   the   Opinion    of    the
Atualizado em 2008-02-27T19:14:18
All the dates of this page are presented in official timezone of Brasilia - Brazil.