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Barretos, December 3, 2009 - Minerva S.A. (BOVESPA: BEEF3; Bloomberg: BEEF3.BZ; Reuters: BEEF3.SA), one of the market leaders in Brazil in the production and sale of fresh beef, leather and live cattle exports, informs the market that the rating agency Moody’s Investors Service has assigned Minerva S.A the local currency corporate rating of “B3” and the foreign currency rating of “B3”, with stable outlook, for the debt securities amounting to US$ 200 million, maturing in 2017. This is the first time that the agency has assigned Minerva a rating, which is in line with the ratings of other agencies, namely, Standard & Poor’s (“B-“) and Fitch (“B”).

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