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Minerva Announces Lease of Tanning Plant in Fernandópolis - SP

Minerva Announces Lease of Tanning Plant in Fernandópolis-SP

Barretos, August 28, 2007 − Minerva S.A. (BOVESPA: BEEF3), one of the market leaders in Brazil in the production and sale of fresh beef, processed beef and beef byproducts, informs the market that it has leased a tanning plant located in Fernandópolis, State of São Paulo, which produces semi-finished and finished leather, in addition to wet-blue hides.

Pursuant to this lease, Minerva will assume this tanning plantís client portfolio, production and labor force. The Company intends to invest approximately R$ 1 million in the acquisition of additional machines and equipment as part of the three expected project phases by the end of 2008. Upon the conclusion of these three phases, the tanning plant will have a daily production capacity of 3,600 leather/day, with approximately 80% corresponding to semi-finished products, and 20% corresponding to finished products, with approximately 160 employees.

Following the conclusion of these three phases and the implementation of this additional production capacity, Minerva expects to reach an approximate 50% increase in revenues from its Leather Division which will include products with a higher aggregated value.

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Contact IR

Phone : +55 (11) 3074-2444
E-mail: ri@minerva.com.br

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