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Brazil: LAEP Signs Sale Agreement with Danone

Source: LAEP Investments Ltd
23/04/2008

São Paulo, April 22, 2008 - LAEP Investments Ltd. which produces, processes, sells and distributes milk and dairy products, through its indirect subsidiary, Só-Nata Indústria e Comércio de Produtos Alimentícios S/A, pursuant to CVM Instruction 358 of January 3, 2002, hereby informs investors and other participants in the capital markets that on today's date it signed an Asset Sale Agreement and Other Covenants with the company Danone Ltda., the object of which was the sale by Danone to Só-Nata of Poços de Caldas, including all trademarks, registrations for trademarks, domain names and strategic assets related to the brand, including all production-line equipment used to make the associated requeijão soft-cheese product.

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Also signed on today's date was the Brand License Agreement, through which Danone assigned to Só-Nata the exclusive use of the "Paulista" brand in Brazil, Bolivia and Paraguay to produce and sell requeijão, butter, fresh cream, powdered milk and pasteurized milk for a period of 15 (fifteen) years. The negotiations involving the contractual instruments were initially signed by the company Parmalat Brasil S/A Indústria de Alimentos ("Parmalat"), also an indirect subsidiary of LAEP Investments Ltd, which were widely disclosed to the regulatory agency and the market, and on April 18, Parmalat assigned all of the rights arising from the transaction to Só-Nata.

The entire transaction, including the sale of the "Poços de Caldas" assets and the "Paulista" brand license agreement, involves the total payment of R$50,000,000.00 (fifty million reais).



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