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Algumas afirmações nesta apresentação e durante a sessão de perguntas e respostas no conference call podem ser projeções ou afirmações sobre

expectativas futuras. Tais afirmações estão sujeitas a riscos conhecidos e desconhecidos e incertezas que podem fazer com que tais expectativas não se

concretizem ou sejam substancialmente diferentes do que era esperado.

4Q07 Consolidated ResultsJanuary 24th, 2008

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1) Record-breaking Ebitda: cash generation reaches R$ 1.15 bn (US$ 593 mn), Ebitda margin 33.6%;

2) Net income R$ 539mn, 21.6% over 2006 figures;

3) Increase of US$ 100/ton in the pulp price list CIF Europe;

4) Increase of US$ 95/ton in average paper prices in export markets;

5) Increase of 39.6% in share price at Bovespa – the highest in the pulp and paper sector for the second consecutive year;

6) Early startup of Line 2 at Mucuri Unit – 35 days ahead of planned schedule; 135 tsd tons produced in 2007.

7) Project P630 completion at Americana Unit, increase of 40 tsd tons of pulp.

8) Follow on equity offer. Free float increases 46.6%.

9) New tax incentives for the Mucuri Unit.

10) Brazilian Antitrust Authorities (CADE) approved Conpacel’s model.

11) Acquisition of all of Embu Unit for US$ 20 million.

12) Completion of the Amador Aguiar hydro-electric power plant (former Capim Branco).

13) Opening of Suzano Pulp and Paper Asia office in Shangai, China.

Highlights 2007

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1) Pulp prices increased to US$ 780 / ton (CIF Europe) in October and December;

2) Export prices of paper increased by US$20 / ton;

3) Producers’ pulp inventories reach 29 days of supply in the end of December;

4) Sale of our stake in Limeira and Cubatão for US$ 32.5mn concluded;

5) Suzano’s Market Value reaches US$ 5.1 billion;

6) Stock was again included in Bovespa’s Corporate Sustainability Index (ISE);

7) Implementation of the new organizational structure;

8) Net Debt/EBITDA ratio at 3.74 (same level of the past year);

9) Production record of 601tsd tons of pulp and paper.

Highlights 4Q07

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� Net price for pulp exports in 4Q07 was US$ 654/t, compared with US$ 613/t in 3Q07, and US$ 594/t in 4Q06;

� Strong demand, restrictions related to wood supply and low inventories;

� Record-breaking production: 320 tsd tons of market pulp in 4Q07;

� Record-breaking volume: 294 tsd tons in 4Q07;

� Cash cost of R$ 489 / ton in the quarter, 8.6% lower than 3Q07 and 2.0% lower than 4Q06.

Pulp Business Unit

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161

638

799

134

481

615

2007 2006

33

123

156

56

238

294

38

107

145

3Q07 4Q07 4Q06

Pulp Sales volume (thousand tons)

Domestic market Export market

Pulp Exports - 2007

(sales volume)

Europe

60%

Asia

29%

Latin America

2%North America

9%

Pulp exports 4Q07

(sales volume)

Europe

57%

Asia

36%

North

America

5%

Latin

America

2%

Pulp Business Unit

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� Higher average prices in the export market, US$ 95 / ton (11.3%) in 2007;

� Higher average prices in the domestic market, R$ 47 / ton (2.0%) in 2007;

� Record-breaking production: 1.15 million tons including Limeira and Cubatão;

� Net revenue of R$ 2,46 billions, 5.2% higher than 2006;

� Volume of 1.13 million tons, 5.1% higher than 2006.

Paper Business Unit

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668

457

1.125

679

392

1.071

2007 2006

180

107

288

171

118

290

180

92

272

3Q07 4Q07 4Q06

Paper sales volume (thousand tons)

Domestic market Export market

Pulp exports 4Q07

(sales volume)

Europe

57%

Asia

36%

North

America

5%

Latin

America

2%

Paper Exports - 2007

(sales volume)

Latin America

41%

Europe

24%

Other markets

18%

North America

17%

Paper Business Unit

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obs

Results 4Q07

3Q07 4Q07 4Q06

%

4Q07/3Q07

%

4Q07/4Q06

Sales volume (000 tons) 444 583 418 31.4% 39.7%

Paper volume domestic market (000 tons) 180 171 180 -5.1% -4.9%

Pulp volume export market (000 tons) 123 238 107 93.1% 121.6%

Net revenue - R$ million 816 963 799 18.1% 20.5%

Net income - R$ million 168 93 90 -44.9% 2.9%

Cash-cost (R$/tons) 535 489 499 -8.6% -2.0%

EBITDA - R$ million 267 326 261 22.2% 24.8%

EBITDA - US$ million 139 183 121 31.3% 50.8%

EBITDA margin 32.7% 33.8% 32.7% 3.4% 3.4%

Exchange Rate 1.92 1.78 2.15 -7.0% -17.1%

Net debt / EBITDA (LTM) 3.9 3.74 3.77 -4.1% -0.8%

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obs

Results 2007

2007 2006

%

2007/2006

1,925 1,686 14.2%

668 679 -1.5%

638 481 32.8%

3,410 3,099 10.0%

539 444 21.6%

1,146 1,040 10.3%

593 478 24.1%

33.6% 33.5% 0.3%

1.95 2.18 -10.4%

3.74 3.77 -0.8%Net debt / EBITDA (LTM)

Pulp volume export market (000 tons)

Net revenue - R$ million

Net income - R$ million

Exchange Rate

EBITDA - R$ million

EBITDA - US$ million

EBITDA margin

Sales volume (000 tons)

Paper volume domestic market (000 tons)

IR Team+55 11 3503 9061ri@suzano.com.br

PressLetícia VolponiGWA Comunicação Integradaleticia@gwacom.com+55 11 3816 3922