Natura is an integrated developer, manufacturer, distributor and seller of cosmetics, fragrances and personal hygiene items. Its brand is one of the most recognized in Brazil. In 2003, over 130 million units were produced and consumers were offered a portfolio of over 510 varieties of products. The Company serves the Brazilian market in over 5,000 Brazilian cities, through a network of approximately 355,000 independent sales representatives (Natura Consultants). It operates in Argentina, Chile and Peru and products are distributed in Bolivia through an independent distributor. Operations are centered at our facility in Cajamar in the state of São Paulo, and include state-of-the-art research and development, manufacturing, storage and order sourcing facilities. There are also commercial and distribution plants in Itapecerica da Serra in the state of São Paulo, and in Uberlândia and Matias Barbosa in the state of Minas Gerais.