Rights Attributed to Eucatex Stock

Eucatex stock entitles its holders to the following rights:

1. Each common share entitles its holder to one vote at the Shareholders’ Meetings of the Company;

2. The preferred shares do not entitle their holders to voting rights and have the following advantages and preferences:

(i) The right to receive dividends at least 10% higher than those attributed to the common stock;

(ii) Priority in the event of the declaration of any dividends exceeding the mandatory minimum provided for in Article 9 of the Company’s Bylaws;

(iii) Priority in the reimbursement of capital in the event that the Company is liquidated; and

(iv) Participation in the distribution of bonus shares arising from the capitalization of reserves or profit reserves at conditions equal to those of the common stock;

3. The right to receive the mandatory minimum dividend in each fiscal year, which corresponds to 25.0% of net income adjusted in accordance with Article 202 of Brazilian Corporations Law;

4. The failure to pay dividends in three consecutive fiscal years will attribute to the preferred stock the right to vote, which shall persist until the Shareholders’ Meeting that approves the payment of dividends thereto;

5. Within the limit of authorized capital, the Board of Directors may approve the issue of stock and/or warrants or propose to the Shareholders’ Meeting the issuance of convertible debentures with the exclusion of preemptive rights, as provided for in Article 172 of Federal Law 6404/76;

6. All the other rights to which stockholders are entitled, in accordance with the Bylaws of Eucatex and with Brazilian Corporations Law.