INDEPENDENT
AUDITORS´ OPINION
The Management and Shareholders
ELEKEIROZ S/A
1.
We have examined the individual and consolidated
balance sheets of ELEKEIROZ S/A as
of December 31, 2006 and 2005, and the related individual and consolidated
statements of income, of changes in shareholders’ equity and of changes in
financial position, as well as the consolidated cash flow and value-added
statements for the years then ended, all prepared under the responsibility of
the management. Our responsibility is to express an opinion on these financial
statements.
2.
Our examination was conducted in accordance with
Brazilian auditing standards and included: a) work planning, taking into
consideration the Company’s relevant balances, volume of transaction and
accounting and internal control systems; b) verification, on a test-basis, of
evidences and records supporting the amounts and accounting information
disclosed; and c) evaluation of the most significant accounting practices used,
and estimates made, by the management, as well as the financial statements
overall presentation.
3.
In our opinion, the financial statements referred to
in paragraph 1 above present fairly, in all material respects, the financial
position of ELEKEIROZ S/A., both
individual and consolidated, as of December 31, 2006 and 2005, the results of
its operations, the changes in its shareholders’ equity and financial position,
both individual and consolidated for the years then ended, in accordance with
accounting practices applicable in Brazil. The consolidated cash flow and
value-added statements for the years then ended, subjected to additional
auditing procedures, are correctly presented as
supplementary information that is consistent with that used in preparing the
statutory financial statements.
Várzea
Paulista, January 19, 2007
CRC Nº 2SP- O13002/O-3
CT CRC Nº1SP 106895/O-1 “S”