[ARACRUZ CELULOSE S.A. LOGO] [GRAPHIC OMITTED]
ARACRUZ CELULOSE S/A and ARACRUZ TRADING S/A, on one side, collectively
hereinafter referred to as ARACRUZ, and KLABIN S/A and KLABIN DO PARANA PRODUTOS
FLORESTAIS LTDA., on the other side, collectively hereinafter referred to as
KLABIN, have executed today an agreement for the acquisition by ARACRUZ of all
shares held by KLABIN of RIOCELL S/A (RIOCELL), a company with headquarters at
000, Xxx Xxxxxxx, 00xx xxxxx, xx xxx Xxxx xx Xxx Xxxxx, xxxxx xx Xxx Paulo, with
National Taxpayers' Identity nr. 05.148.712/0001-76. The purchase price for
those shares was US$ 610,500,000.00, which is subject to adjustments, based on
any changes in RIOCELL's balance sheet prior to the closing of the transaction,
as well as from any changes that may occur in transactions of such nature.
Although the agreement executed today produces effects as of, the transaction
will not be concluded and the price agreed will not be paid until both Parties
approve the balance sheet of RIOCELL, to be settled on May 31, 2003 and duly
audited by independent accountants, nor until certain contractual conditions are
met. The Parties estimate that all such conditions will be met within 30 days.
Aracruz, May 30, 2003.
Xxxxxx Xxxxxxx Xxxx Xxxxxx
Chief Executive Officer
