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Aracuz Shareholding Structure in Flux
Sao Paulo, Brazil, 06 August 2008 -- Arapar, the holding company for the Lorentzen group, has accepted a proposal from Votorantim Industrial (VID), the parent company of Votorantim Celulose e Papel (VCP), for the acquisition of Aracruz common stock representing approximately 28% of the company's voting capital.

Under the present shareholding structure, the Safra, Lorentzen and Votorantim groups each hold 28% of the voting capital of Aracruz. The Votorantim group joined the company's controlling group on 01 November 2001, when it bought Mondi's stake. According to the shareholders' agreement between the Safra and Lorentzen groups, signed on 05 February 2003, in the event of the Lorentzen group deciding to sell its stake, the Safra group would have the right of first refusal, and the inverse would also apply. The agreement also gives the Safra group 90 days to decide whether it will exercise its right of first refusal or its tag along right to sell its own stake.

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