1

3Q06 Consolidated ResultsOctober 19, 2006

Certain statements in this presentation and during the Q&A session of this conference call may constitute forward-looking statements. Such statements are subject to known and unknown risks and uncertainties that could cause the Company's

actual results to differ materially from those set forth in the forward-looking statements.

2

Restatement

The restatement was as follows:

•Net Sales R$ 19.5 million•Cost of Sales R$ 19.5 million•Ebitda – as previously stated•Ebitda margin - 0.8 p.p, from 35.8% to 35.0%•Net income and net income per share – as previously stated

(R$ thousand)Old Restatement New

Net Sales 835.945 19.547 855.492 Cost of Sales 512.580 19.547 532.127 Gross Profit 323.365 - 323.365 Gross Margin 38,7% 0,9 p.p 37,8%Ebitda 299.106 - 299.106 Ebitda Margin 35,8% 0,8 p.p 35,0%

3rd quarter 2006

3

Highlights

New pulp price increase of US$20 per ton announced for every market is expected to bring pulp prices to US$680/ton CIF Northern Europe by November 2006.

Record Consolidated Ebitda: US$138 million.

Mucuri Project: Assembly of plant has begun, is in line with financial and physical

schedule.

Share liquidity significantly increased, after conclusion of Ripasa restructuring: average daily trading up from R$ 3.2 million in 2Q06 to R$ 6.2 million in 3Q06.

Suzano starts sale of Ripasa products exclusively with the Ripax® cut size paper brand.

Issue of convertible debentures: R$ 240 million.

92% acquired by BNDES, the rest by other shareholders.

Starting with these results, our YoY comparisons are pro-forma including the 50% of Ripasa.

4

Increase in sales volume (’000 tons)

(*) Difference between 9M06 annualized sales and 9M06 realized sales.(**) 9M06 annualized sales.

CAGR 14%

Consolidated sales evolution

('000 tons)

1.154 1.2841.038

1.295

-- 426

4321.154

1.2841.465

1.726

2003 2004 9M05 9M06

Sales volume 4Q sales

(*)

(**)

5

Mucuri Project — Status

Capex of R$ 352 million in 3Q06; brings total spent so far to US$480 million, or 37% of the total approved by the Board Meeting of October 2006.Assembly of plant already started, in line with financial and physical scheduleConnection “tie-ins” between lines 1 and 2 realized during maintenance shutdown in September 2006.

6

Photos – Setember 2006

Recovery boiler

Evaporation

Drying machine

Cooking

Turbo generator – Electricity room

Boiler being shipped at Antwerp

7

Pulp Business Unit

Average pulp export price US$ 587/ton in 3Q06 – vs. US$558/ton in 2Q06.

Favorable forecast for the sector:

New price increase of US$ 20/ ton in November for all markets

High cost producers continuing to restructure their production.

Higher sales in this quarter due to consolidation of Ripasa sales, mainly sold to the domestic market. The start-up of the P630 project at Ripasa will increase access to the export market for Ripasa pulp.

8

Pulp Business Unit

World inventories at 31 days, 1 day up from June.

Mucuri cash cost: US$ 206/ ton, with the partial effect of maintenance shutdown in September.

39

143

181

36

122

158

38

111

149

2Q06 3Q06 3Q05

Pulp sales volume ('000 tons)

Domestic market Export market

Pulp exports - 3Q06(% of volume)

Europe53,1%Asia

35,3%

North America

7,7%

Latin America

3,9%

Pro-forma

9

Paper Business Unit

Good outlook for the sectorDomestic market: Start of government paper purchases for schoolbooks program (PNLD), prices pressured by imports and appreciation of the Real.Export market: Higher international prices.

Domestic sales reached 63% of total paper sales volume. Domestic paper sales 8% up from 2Q06.Spread of paper prices to eucalyptus pulp list prices (CIF North Europe — in reels):

218163158

10-year average

2Q063Q06

US$ / ton

10

Paper sales

Pro-forma

171

103273

184

108

292

167

133

300

2Q06 3Q06 3Q05

Paper sales volume ('000 tons)

Domestic market Export market

Paper exports - 3Q06(% of volume)

Latin America55,4%

Asia8,4%

Europe21,4%

North America14,4%

Other0,4%

11

Quarter highlightsPro-forma with 50% of Ripasa

∆ %2Q063Q06

0.9%454 000 ton450 000 tonSales volume

7.8%171 000 ton184 000 tonPaper sales volume —domestic market

14.2%143 000 ton122 000 tonPulp sales volume —export market

9.9%10.4%1.5 pp

R$ 272 mmUS$ 125 mm

33.5%

R$ 299 mmUS$ 138 mm

35.0%

EbitdaR$US$Margin

—R$ 447 / tonR$ 447 / tonPulp cash cost (without cost of standing timber)

4.7%R$ 817 mmR$ 855 mmNet sales

12

FX scenario and net profit

Change %2QT063Q06

5%R$ 103 mmR$ 98 mmNet profit (*)

(*) Inclduing Ripasa: proportional consolidation of 23.03% up to April 2006 and 50.0% after May 2006.

FX rate, R$ / US$ 2Q06 3Q06 3Q05Start of period 2.17 2.16 2.35 End of period 2.16 2.17 2.22 Average 2.18 2.17 2.34 Change -0.37% 0.46% -5.45%

13

Leverage Pro-forma with 50% of Ripasa

1,055 9941,262

1,4101,594

446 440 440 498 551

2.87 2.83 2.89

2.372.26

0

200

400

600

800

1000

1200

1400

1600

1800

3Q05 4Q05 1Q06 2Q06 3Q06

US$

Mil

lion

0

0.5

1

1.5

2

2.5

3

3.5

Net

deb

t/Eb

itda

Net debt Ebitda Net debt/ Ebitda

Note: Ebitda of 3Q06 annualized.

14

Indebtness

Average maturity of long term debt: 4.1 yearsAverage cost of US$ debt: 5.9% p.a.Average cost of R$ debt : 9.3% p.a.

Debt schedule of amortization

1,312801

91583

863 682

1,757

Cash

4Q06

to

3Q07 4Q07

2008

2009

2010

2011

forw

ard

R$ m

illio

n

15

1,505 1,019 1,049 705 7591,459

2,898

6,386

119

6890

109

202 195

116131

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06*

US$

Tsd

l

0

50

100

150

200

250

Trad

es

Avg. Daily volume Avg. Trades

Share liquidity

Liquidity of the stock increased after the restructuring of Ripasa and migration of minority shareholders:

After Ripasa restructuring

(*) From October 1 to October 16, 2006.

16

IR team5511 3037 9061ri@suzano.com.br

PressFernanda BurjatoGWA Comunicação Integradafburjato@gwacom.com11 3816 3922 // 13 9765-1526