STATEMENT OF INCOME
	FOR THE YEARS ENDED DECEMBER 31,
	( In thousands of Reais)
		PARENT COMPANY		CONSOLIDATED
		2005	2004	2005	2004
	Sales Revenue – Domestic Market	768.651	775.387	768.651	775.387
	Sales Revenue – Foreign Market	69.454	110.941	69.454	110.941
	GROSS SALES REVENUE	838.105	886.328	838.105	886.328
	Taxes and Sales Deductions	(182.657)	(182.357)	(182.657)	(182.357)
	NET SALES REVENUE	655.448	703.971	655.448	703.971
	Cost of Products Sold	(531.750)	(525.378)	(531.750)	(525.378)
	GROSS INCOME	123.698	178.593	123.698	178.593
	Selling Expenses	(25.108)	(26.020)	(25.108)	(26.020)
	General and Administrative Expenses	(33.765)	(32.888)	(33.806)	(32.962)
	Other Operating Revenues and Expenses	1.743	(10.218)	1.743	(10.194)
	OPERATING INCOME BEFORE FINANCIAL INCOME, EQUITY	66.568	109.467	66.527	109.417
	ACCOUNTING AND PREMIUM AMORTIZATION
	Financial Income	(4.923)	(6.974)	(5.135)	(7.138)
	"CPMF", "IOF", "PIS" e "COFINS"  on Other Operating Revenues	(3.399)	(4.200)	(3.399)	(4.200)
	OPERATING INCOME BEFORE EQUITY	58.246	98.293	57.993	98.079
	ACCOUNTING AND PREMIUM AMORTIZATION
	Premium Amortization	(5.300)	(5.295)	(5.300)	(5.295)
	Equity Accounting	(253)	11		225
	OPERATING INCOME	52.693	93.009	52.693	93.009
	Non-Operating Income	226	(478)	226	(478)
	INCOME BEFORE TAXES AND PARTICIPATION	52.919	92.531	52.919	92.531
	Income Tax and Social Contribution	(5.335)	(12.580)	(5.335)	(12.580)
	Profit-Sharing – Employees and Management	(4.474)	(9.112)	(4.474)	(9.112)
	NET INCOME	43.110	70.839	43.110	70.839
	Net Earnings per Thousand Share Lot - R$	68	112	68	112
	EBITDA	82.531	125.731	82.490	125.681
	The accompanying notes are an integral part of these financial statements