Minutes of the board of directors' meeting


Atualizado em 2008-07-23T17:47:21
All the dates of this page are presented in official timezone of Brasilia - Brazil.

File Text

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$
   390,947,976.28 - 429,029,051 Registered
         Shares of Common Stock [ON]
   Authorized Capital: up to 12,381,074 ON
                    shares

  MINUTES OF THE BOARD OF DIRECTORS MEETING
            HELD ON JULY 23, 2008

      On July 23, 2008, at 1:10 p.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 the  majority  of  its  members
and under the chairmanship of Mr. Pedro  Luiz
Barreiros  Passos,  for   the   purpose   of,
pursuant to the  provisions  of  article  28,
paragraph three,  of  the  Company's  Bylaws,
examining,   discussing   and   voting    the
Executive     Committee     proposal      for
distribution  of  dividends,   referring   to
months  of  January  to  June  2008,  to   be
allocated  as  the  legal  dividend  for  the
fiscal year  to  be  ended  on  December  31,
2008.

      After the subject being  analyzed,  the
board members  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, 2008, that:

      1.    On  August  12,  2008,  dividends
referring to months of January to  June  2008
shall be paid to shareholders  in  the  total
amount  of  one  hundred   and   eighty-seven
Atualizado em 2008-07-23T17:47:21
All the dates of this page are presented in official timezone of Brasilia - Brazil.