Statement from Soy Traders

Page - July 26, 2006

ANNOUNCEMENT

The ASSOCIAÇÃO BRASILEIRA DAS INDÚSTRIAS DE ÓLEOS VEGETAIS - ABIOVE (Brazilian Association of Vegetable Oil Industries), the ASSOCIAÇÃO NACIONAL DOS EXPORTADORES DE CEREAIS - ANEC (National Association of Grain Exporters) and their respective members are committed to the implementation of a governance program, whose objective is to not trade soya from the crop that will be planted as of October 2006 that come from deforested areas within the Amazon biome, after the date of this announcement.

This initiative, which will last for two years, seeks to reconcile environmental conservation with economic development, through the responsible and sustainable use of Brazil's natural resources. During this period, the sector is committed to working with Brazilian government entities, and entities which represent rural producers and society to:

a) Prepare and implement a plan that includes an effective mapping and monitoring system for the Amazon biome or based on the official map of the corresponding area received from the Federal Government;

b) Develop strategies to encourage and move soya producers to comply with the Brazilian Forest Code;

c) Work together with interested sectors to develop new rules on how to operate in the Amazon biome, collaborating with the Brazilian government and getting them to define, apply and comply with public policies (economic-ecologic zoning) regarding land use in this region.

The sector reiterates its repudiation of slave labor and companies have incorporated into their soybean purchase contracts a clause allowing a breach of contract if it transpires that the seller used labor analogous to slavery.

São Paulo, July 24, 2006