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Standard & Poor´s - Upward Revision of Minerva’s Risk Rating

Barretos (SP), March 15th, 2012 - Minerva S.A. (BOVESPA: BEEF3; Bloomberg: BEEF3.BZ; Reuters: BEEF3.SA), a leader in South America in the production and sale of fresh beef, live cattle and cattle byproducts, with operations in the beef, pork and poultry processing segments, hereby announces to its shareholders and the market in general that S&P revised the company’s risk rating one grade upwards to “B+”, with stable outlook.

According to S&S, this reflects the improvement in the company’s capital structure, extended debt profile and lower refinancing need, after the US$350 million issue of Notes maturing in February 2022 in the international market. Additionally, the risk rating agency’s report underpins the constant improvement in the company’s operating indicators, reduced cattle price estimates and projections of increased cash flow.

Minerva S.A. is constantly pursuing the optimization of the operational margins of its plants by increasing production, continuous scale gains and focus on more profitable markets, while maintaining high liquidity levels and a strict risk control.