CORPORATE PRESENTATION
     AUGUST 2011




 Investor Relations / www.duratex.com.br
                                           -1-
SCENARIO



     2010                           2010

    Overcoming the crisis of 2009   Cost pressure from the second semester (labor
                                                                           on labor
                                    and copper)
                                        copper
    Rates Recovery base
    Recovery of price
                                    Rates Recovery
    Costs in balance                Recovery of price base
    Tax exemptionuntil March
    IPI exemption until March

    2011                            2011
    Macro-prudential measures       Cost pressures(labor and copper)
                                                   (labor and copper)
    Increasing Interest Rates       Sanitary wares :
                                                 :
    Cost pressures (resin)
                  (resin)           a) Incease of prices
                                       price increase
                                                   :
    Demand at 2010 level            b) start-up of a new furnace in Recife
                                                   new furnace in Recife
                                    c) incorporation of activity of Deca Nordeste
                                                        Deca Nordeste
                                    Metals:
                                    a) cost management
                                    b) start-up of new galvanoplastic equipment     -2-
SCENARIO
                 UNEMPLOYMENT RATE IN BRAZIL (%)                                                                                                      MINIMUM WAGE ( in R$)


                                                                                                                                                                                                                                     545
                                                                                                                                                                                                                        510
                                                                                                                                                                                                         465
                                                                                                                                                                                             415
deseasonalized




                                                                                                                                                                                 380
                                                                                                                                                                        350
                                                                                                                                                                                                  ,4%
                                8,4
                                                                                                                                                            300
                                                                                                                                                                                         R 10
                                          7,4
                                                    6,8       6,8
                                                                                                                                                                                      CAG
                                                                                            6,4          6,5         6,4      6,4
                                                                                  6,1
                                                                        5,3
                                                                                                                                         June´11
                                                                                                                                          6,2%


                                                                                                                     Dec/10
                                dez /06   dez /07   dez /08   dez /09   dez /10   jan/´11   fev /´11   m arç o/´11
                                                                                                                       6,2%m ai/´11
                                                                                                                     abr/´11


                                                                                                                                                            2005        2006     2007         2008       2009           2010         2011

                                                                                                                                                   SOURCE: BACEN
      SOURCE: IBGE
                     DISPOSABLE INCOME (R$ mn)                                                                                                          TOTAL CREDIT x xPIB inIN BRAZIL %)
                                                                                                                                                              CREDITL GDP BRAZIL ( (%)

                                                                                                          419.593              432.407
                                                               373.340             385.634
     4 00000
                                                                                                                                                      48%
                                          345.923                                                                                                                                                                                     46,9%
                           328.204                                                                                                                    47%                      46,6%                 46,5%                 46,6%
                 309.671                                                                                                                                                                46,3%                   46,5%
                                                                                                                                                      46%
                                                          5,7%
     3 00000




                                                                                                                                                                       45,0%
                                                     CAGR                                                                                             45%
     2 00000


                                                                                                                                                      44%
                                                                                                                                                      43%
                                                                                                                                                      42%
     1 00000




                                                                                                                                                               40,8%
                                                                                                                                                      41%
                                                                                                                                                      40%
           0




                  2005      2006              2007                2008                2009                    2010         UDM up atéMay´11
                                                                                                                             UDM to                      2008          2009    2010      jan/11
                                                                                                                                                                                        Jan/11      fev/11 mar/11
                                                                                                                                                                                                   Feb/11 March/11         abr/11
                                                                                                                                                                                                                          April/11    mai/11
                                                                                                                                                                                                                                     May/11
      SOURCE: IBGE                                                                                                           Maio´11               SOURCE: BACEN

                                                                                                                                                                                                                                            -3-
52,0%




        -4-
SCENARIO
                                               NET REVENUE OF A SELECTION OF BUILDING COMPANIES IN BRAZIL (in R$ mn)

                                                                                                                        87.861
                                          +21,5%                                                              81.518
                                                                   68.843
                        56.670
                                                                                        13E = 16%
                                                                              CAG R 10-




                          2.010                                      2011E                                    2012E     2013E



                                                                                  LAUNCHES (in R$ mn)


                                          +21,7%                                                               97.294
                                                                                                                        106.521
                                                                     86.866
                          71.377
                                                                                             =       14%
                                                                                CAG R 10-13E




                           2.010                                      2011E                                    2012E      2013E
SOURCE: Research Credit Suisse, June/11
Selected companies: (PDG, MR V, Cyrela, Brookfield, Rossi, Gafisa, Tecnisa, Eeven, Direcional, Viver, CCDI)                       -5-
SCENARIO
GLOBAL INFLATION RATES                                                                                             INFLATION RATE IN BRAZIL- SIGNS OF DECELERATION
                                      CPI inflation r ates Emerging econom ies                                                     Monthly average: 0,73%
                                                                                                                                           average:
                                                                                                                                       Setember/2010 – April/2011
                                   (year-on-year % change)

                                                                                                                                                                              MonthlyMensal::0,33%
                                                                                                                                                                               Média average 0,33%
                                                                                                                                                                                     average:
                                                                                                                                                                                 June/2011 – December/2011




 Sources: OECD, Haver Analytic s.                                                                                  Source: BCB/ IBGE
 Note: Latest observation refers to May 2011 except for Korea and Turkey (June 2011).                              * Focus Report - Market expectations –median (24.June.2011)

                                                                                        COMPLEX INTERNATIONAL SCENARIO
                                                                                                                            Inflation in emerging economies
                                                                                                 Euro Zone                  (expectation for 201)
                                                                                                 • Sovereign debt crises
                                                                                                 • Low and unequal growth
                                                                                                 • Inflation risk




                                                                                                                                                     Japan
                                                                                                                                                     • Earthquake , Tsunami
                                                                                                                                                       Earthquake,
                                                                                                                                                     • Eonomic downturn
                                                     United States                         BRAZIL                                                    • Nuclear crisis
                                                     • Losing strength and growth          IPCA: 6,15 (*)                                            • Disruption of supply chains
                                                     • Unemployment still high             IGPM: 6,01
                                                     • Inflation on the rise
                                                     • Negotiation of debt ceiling
                                                                                                                   North Africa &
 Source: BCB/ BLOOMBERG/ FOCUS REPORT                                                                              Middle East
                                                                                                                   • Tunisia • Syria
 (*) IPCA (National Index of Consumer Prices)                                                       South Africa

     IGPM (General Index of Market Prices)
                                                                                                                   • Egypt • Yemen
                                                                                                                   • Libya                                                                               -6-
SCENARIO                    WOOD PANELS´ MARKET
                                 TOTAL CONSUMPTION OF PANELS IN BRAZIL (Source ABIPA, in ‘000 m³)
                                                                                                                         2.972
MDF
                                                                                              2.263        2.352
                                                                                2.037
                                                                  1.861                                              ,4%
                                                                                                                 +26                       1.487,9
                                                    1.413,5                                                                                              1.459,4

                                                                                                                                                    -1,9%

Usage:
Rounded edges, sculptured
surfaces,frames                                       2005          2006         2007          2008          2009          2010              1S10           1S11

                                                                                           MDF: AVAILABLE EFFECTIVE CAPACITY: 3.660 K m³/YEAR
                                                                                                EFFECTIVE CAPACITY OF THE INDUSTRY: 4.080 K m³/YEAR*



MDP                                                                                            2.633
                                                                                                                           2.885
                                                                                  2.548                      2.431
                                                      2.102         2.186

                                                                                                                    +18,7%                  1.449,6         1.443,3

                                                                                                                                                       =

Usage:
Flat parts,                                             2005          2006         2007          2008          2009            2010            1S10           1S11
Sides / Partitions / Shelves
                                                                                            MDP: AVAILABLE EFFECTIVE CAPACITY : 3.620 K m³/YEAR
                                                                                                 EFFECTIVE CAPACITY OF THE INDUSTRY : 4.000 K m³/YEAR*


* Annual effective capacity of the industry based on lines already installed, after periods of ramp-up and minor investments                                          -7-
SCENARIO                     BUILDING MATERIALS INDUSTRY




                                                                ABRAMAT INDEX* - INTERNAL MARKET
                                                       Achieved x Projected ( accumulated x same period last year)




                                                                                                                             7,00%
                                                                                                                                          **
                                                                                                                                     5,00%
                                                                                                                     0,58%

                                                                                                                             March    July




                                                                                                                     1H      2011 Forecast




Source: Associação Brasileira da Indústr ia de Materiais de Construção
* Monthly indicator of sales per for mance of the Building Materials Industry
                                                                                                                                               -8-
PERFORMANCE          RECONCILIATION OF TOTAL ASSETS AND EQUITY



     TOTAL ASSETS (in R$´000)      30/June/2011 31/March/2011              30/June/2010
     Before adjustments to IFRS        5.503.248     5.080.107 423.141        4.862.693 640.555
     Business Combination                744.274       751.460 (7.186)          769.747 (25.473)
     Biological Assets                  326.188       334.492 (8.304)          286.264 39.924
     Employee Benefits                    69.881        69.102     779            61.320  8.561
     Other adjustments                    2.873         2.873        0          (14.785) 17.658
     After adjustments to IFRS         6.646.464     6.238.034 408.430        5.965.239 681.225
     Variation                         1.143.216     1.157.927 (14.711)       1.102.546 40.670

     EQUITY (in R$´000)             30/June/2011 31/March/2011             30/June/2010
     Before adjustments to IFRS        2.732.339     2.692.433   39.906       2.454.787 277.552
     Business Combination                549.068       552.053   (2.985)        564.123 (15.055)
     Biological Assets                  215.284       220.764    (5.480)       188.934 26.350
     Employee Benefits                    46.121        45.608      513          40.471    5.650
     Other adjustments                   19.450         9.675     9.775         61.708 (42.258)
     After adjustments to IFRS         3.562.262     3.520.533   41.729       3.310.023 252.239
     Variation                           829.923       828.100    1.823         855.236 (25.313)




                                                                                                   -9-
PERFORMANCE                      INDEBTEDNESS

                                     LEVERAGE AND AMORTIZATION SCHEDULE
                                                  ENDIVIDAMENTO
R$´000
                                                   30/June/2011
                                                 30/06/2011         31/March/2011
                                                                  31/03/2011        Variation  3/June/2010
                                                                                    Variação 30/06/2010         Variation
                                                                                                               Variação
Short Term Debt
Endividamento Curto Prazo                           531.969          513.686         18.283   592.778            (60.809)
Long Term Debt
Endividamento Longo Prazo                         1.397.867        1.168.154        229.713 1.053.608           344.259
Total Financial Debt
Endividamento Total                               1.929.836        1.681.840        247.996 1.646.386           283.450
Cash
Disponibilidades                                    759.763          501.746        258.017   717.732             42.031
Net Debt
Endividamento Líquido                             1.170.073        1.180.094        (10.021)  928.654           241.419
Net Debt/ Equity
Endividamento Líquido / PL                              32,8%            33,5%              -   28,1%                     -
Net Debt/ EBITDA Líquido / EBITDA*
Endividamento *                                           1,31             1,33             -    1,48                     -
* EBITDA in the last 12 months


                          ORIGIN OF DEBT                                               AMORTIZATION SCHEDULE
                                                                                                                    (in R$ mn)

                                                                          1.929,8   264,1

                                           Foreign Currency                                 625,8
                                                 5,9%
                                                                                                    342,5
                                                                  759,8
                                                                                                            321,6

                                                                                                                    375,8



 Domestic Currency
                                                                  Cash     Total    2011    2012    2013     2014   After
      94,1%
                                                                           Debt                                     2014
                                                                                                                                 -10-
PERFORMANCE                          RECONCILIATION OF NET INCOME
R$´000
After adjustments to IFRS (R$´000)            2Q11          1Q11          %         2Q10          %          1H2011       1H2010        %
Consolidated Net Revenue                       751.181        659.865       13,8     712.303         5,5      1.411.046 1.318.883          7,0
Gross Profit                                     253.856       225.018      12,8       284.716     (10,8)         478.874   506.439       (5,4)

Operating profit before financial result         143.411       123.177      16,4       172.259     (16,7)         266.588    301.757     (11,7)

Income before Taxes and Contributions            111.287        94.091      18,3       149.128     (25,4)         205.378    251.839     (18,4)
Net Income                                       100.383        76.876      30,6       102.720      (2,3)         177.259    171.357        3,4
ROE                                                11,3%         8,8%           -       12,6%           -           10,1%     10,6%           -
Extraordinary Events *                            (9.284)           0           -           0            -         (9.284)        0            -
Recurrent Net Income                              91.099        76.876      18,5       102.720     (11,3)         167.975    171.357      (2,0)
Recurrent ROE                                      10,3%         8,8%           -       12,6%           -            9,6%     10,6%           -

Reconciliation IFRS to BR GAAP                2Q11          1Q11          %         2Q10          %          1H2011        1H2010       %
Net Income (After adjustments to IFRS)           100.383        76.876     30,6        102.720     (2,3)          177.259    171.357        3,4
Business Combination                               2.919          4.072    (28,3)         3.940    (25,9)            6.991      7.333     (4,7)
Biological Assets                                  5.481        (1.536)   (456,8)       (6.131)   (189,4)            3.945    (3.757)   (205,0)
Employee Benefits                                  (515)        (1.517)    (66,1)       (1.809)    (71,5)          (2.032)    (3.618)    (43,8)
Other Adjusts                                          0              0         -       13.086          -                0    21.178          -
Net Income Before adjustments to IFRS            108.268        77.895      39,0       111.806      (3,2)         186.163    192.493      (3,3)
ROE Before adjustments to IFRS                    16,0%          11,7%          -        18,5%          -          13,9%       16,1%          -
Extraordinary Events *                           (9.284)            0           -           0            -         (9.284)        0            -
Recurrent Net Income                             98.984         77.895      27,1       111.806     (11,5)         176.879    192.493      (8,1)
Recurrent ROE                                     14,6%          11,7%          -        18,5%          -          13,2%       16,1%          -

* Fixed asset revenue



                                                                                                                                          -11-
PERFORMANCE                 NET REVENUES

                                           NET REVENUES (in R$´000)
                                           2Q11      1Q11      %         2Q10          %      1H2011       1H2010      %
Consolidated Net Revenues                  751.181   659.865   13,8      712.303        5,5    1.411.046    1.318.883 7,0
                        Wood Division      480.680   413.708   16,2      470.694        2,1      894.388      883.663 1,2
                        Deca Division      270.501   246.157    9,9      241.609       12,0      516.658      435.220 18,7


                                         ORIGIN OF NET REVENUE IN 2Q11

GEOGRAPHICAL DISTRIBUTION OF SALES                        CONSOLIDATED NET REVENUES




                                                                         M DF /HDF /SDF /                   M DP
                                      FOREIGN
                                     MERCADO                          LAMINATED FLOORING
                                                                         PISO LAM INADO                    20,2%
                                      MARKET
                                     EXTERNO                                  34,7%
                                        4%

                                                                                                               CHAPA DE FIBRA
                                                                                                                HARDBOARD
                                                                                                                    8,6%
                                                                                                            COM PONENTES
                                                                                                             COMPONENTS
                                                                                  LOUÇAS                         0,5%
                                                                                 VITREOUS
      DOMESTIC
      MERCADO                                                                   SANITÁRIAS
                                                                                   CHINA                 M ETAIS
                                                                                                          METAL
       MARKET
      INTERNO                                                                      17,2%               SANITÁRIOS
                                                                                                         FITTINGS
        96%
                                                                                                          18,8%




                                                                                                                       -12-
PERFORMANCE                 RECONCILIATION OF CONSOLIDATED EBITDA

After adjustments to IFRS (R$´000)
R$´000
                                            2Q11       1Q11         %          2Q10         %          1H2011        1H2010         %
Consolidated Net Revenues                    751.181    659.865    13,8         712.303      5,5        1.411.046     1.318.883      7,0
Operating profit before financial result    143.411    123.177     16,4        172.260     (16,7)        266.588       301.756     (11,7)
Depreciation / Amortization / Depletion      75.018     63.969     17,3         57.788     29,8          138.987       115.599     20,2
Change in Fair Value of Biological Assets   (27.693)   (35.603)    (22,2)      (46.185)    (40,0)         (63.296)      (76.902)   (17,7)
Depletion portion of Biological Assets       35.998     33.275       8,2        36.896      (2,4)          69.273        71.210     (2,7)
Employee Benefits                              (780)     (2.298)   (66,1)        (2.741)   (71,5)          (3.078)       (5.482)   (43,9)
EBITDA                                       225.954    182.520     23,8        218.018      3,6          408.474       406.181      0,6
EBITDA Margin                                 30,1%       27,7%         -         30,6%         -           28,9%         30,8%         -
Extraordinary Events*                       (14.068)           0           -           0           -      (14.068)             0           -
Recurrent EBITDA                             211.886    182.520     16,1        218.018     (2,8)         394.406       406.181     (2,9)
Recurrent EBITDA Margin                       28,2%       27,7%         -         30,6%         -           28,0%         30,8%         -

Recurrent EBITDA by Division
                                     Wood   145.846    110.249 32,3            146.444 (0,4)             256.095       275.339 (7,0)
                                     Deca    66.040     72.271 (8,6)            71.574 (7,7)             138.311       130.842 5,7
* Fixed asset revenue




                                                                                                                                               -13-
PERFORMANCE                 RECONCILIATION OF CONSOLIDATED EBITDA

R$´000 adjustments to IFRS R$´000
Before
                                              2Q11       1Q11      %          2Q10     %       1H2011        1H2010        %
Consolidated Net Revenue                      751.181    659.865   13,8       712.303 5,5       1.411.046     1.318.883    7,0
Operating profit before financial result      163.524    131.864   24,0       174.321 (6,2)       295.388       317.112   (6,9)
Depreciation / Amortization / Depletion         68.442    57.624   18,8        51.832 32,0        126.066       103.705   21,6
EBITDA                                        231.966    189.488   22,4       226.153 2,6         421.454       420.817    0,2
EBITDA Margin                                   30,9%     28,7%        -       31,7%      -         29,9%        31,9%         -
Extraordinary Events *                        (14.068)         0          -         0      -      (14.068)            0          -
Recurrent EBITDA                              217.898    189.488   15,0       226.153 (3,7)       407.386       420.817   (3,2)
Recurrent EBITDA Margin                         29,0%     28,7%        -       31,7%      -         28,9%        31,9%         -

Recurrent EBITDA by Division
                                       Wood   147.930    114.200 29,5         151.290 (2,2)      262.130       283.764 (7,6)
                                       Deca    69.968     75.288 (7,1)         74.863 (6,5)      145.256       137.053 6,0
* Fixed asset revenue




                                                                                                                          -14-
-15-
-16-
PERFORMANCE                  EBITDA RECONCILIATION


After adjustments to IFRS (R$´000)
R$´000
                                            2Q11        1Q11        %        2Q10        %       1H2011        1H2010        %
Shipment (in 1.000 items)                     6.259       5.737      9,1       5.933      5,5       11.996        10.697    12,1
Net Revenue                                270.501     246.157       9,9    241.609     12,0       516.658       435.220    18,7
Operating profit before financial result     53.057      61.008    (13,0)     62.238    (14,8)     114.065       113.157      0,8
Depreciation / Amortization / Depletion      13.216      12.121      9,0      10.266    28,7        25.337        19.491    30,0
Employee Benefits                              (233)       (858)   (72,8)       (930)   (74,9)       (1.091)      (1.805)   (39,6)
EBITDA                                     66.040      72.271       (8,6)   71.574       (7,7)   138.311       130.843        5,7
EBITDA Margin                              24,4%       29,4%         -      29,6%         -       26,8%         30,1%         -
Extraordinary Events                              0           0      -             0      -               0            0      -
Recurrent EBITDA                           66.040      72.271       (8,6)   71.574       (7,7)   138.311       130.843        5,7
Recurrent EBITDA Margin                    24,4%       29,4%         -      29,6%         -       26,8%         30,1%         -


Before adjustments to IFRS
Recurrent EBITDA                            69.968      75.288 (7,1)         74.863 (6,5)          145.256      137.053       6,0
Recurrent EBITDA Margin                      25,9%       30,6% -              31,0% -                28,1%        31,5%       -




                                                                                                                             -17-
PERFORMANCE                 DECA DIVISION HIGHLIGHTS


                                           INSTALLED CAPACITY & OCCUPANCY RATE IN 2Q11



                             VITREOUS                                                       9.800 K
                               CHINA
                                               89%                                           9.800 K
                                                                                          items/year
                                                                                           items/year




                              METAL
                             FITTINGS            93%                                       17.000 K
                                                                                            17.000 K
                                                                                          items/year
                                                                                           items/year



SHIPMENT (in ‘000 items)                                         LOCALIZATION OF PLANTS



                                                        11.996
                                               10.697
                                                      ,1%
                                                  +12
   5.933                           6.259
           5.529   5.413   5.737
                                   %                                                             9 p la n ta s
                              +9,1                                                             9 PLANTS
                                                                                                        METALS
                                                                                                 VITREOUS CHINA


   2Q10
    2T10   3Q10
           3T10    4Q10
                   4T10    1Q11
                            1T11   2Q11
                                   2T11         1S10     1S11

                                                                                                                  -18-
CAPEX            CONSOLIDATED
          CONSOLIDADO

                                                CAPEX (R$ mn)

                    R$ 2,9 billion
            891,2
                                                                          CAPEX in 1H2011
                                             800,0



                                                     Estimated      DECA                FOREST
                                             456,4
                                                                    42%                     18%
                                     459,6
                       427,0
  341,7                                                                                      CORPORATE 1%


                                                                              WOOD
                                             343,6   Accomplished              39%
                                                      in 1H2011


  2007      2008       2009          2010    2011E




                                                                                                       -19-
-20-
CAPEX          DECA DIVISION
                                EVOLUTION OF NOMINAL CAPACITY (´000 items/year) & CAPEX




                                                                     Investments R$ 430 million
                                                                      Vitreous China
                                  %
                       CAGR: 10,8                         30.400           + 1,8mn items/year: acquisition of Elizabeth, PB (Feb/11)
                                                                                  M
                                             26.800                        + 0,8mn items/year: new furnace in Cabo de Santo Agostinho, PE ( Apr/11)
                                                                                  M
            21.800     23.000      23.000                12.200
                                                                        (*)+ 2,4mn items/year: reactivation and expansion of the Queimados unit, RJ (2012)
                                                                                  M
18.200
                                              9.800                   Metals
             6.200     7.200        7.200
3.800                                                                      +2,4mn items/year (2011/2012)
                                                                                 M
                                                                           Robotic center of tuning
            15.600     15.800      15.800    17.000      18.200            Milling machine
14.440
                                                                           Forging press
                                                                           New Galvanoplastic equipment
 2007        2008       2009        2010      2011        2012
                                                                       (*) Vitreous China in Queimados:
                                                                      ORIGINAL PROJECT: CAPEX R$ 100mn, Capacity: 1.9 million pieces / year
            Metal
            Metais                  Vitreous China
                                    Louças Sanitárias                 REVISED PROJECT: CAPEX R$ 130mn, Capacity: 2.4 million pieces / year
                                                                      OBJECTIVE:
                                                                              INCREASE OF PRODUCTION FOR HIGH AND MIDDLE INCOME SEGMENTS




 Metal Fittings - SP                              Metal Fittings Jundiaí - SP                             Vitreous China- PE
                                                                                                                                                    -21-
SUSTAINABILITY                     PRACTICES

        - Green Seal (FSC): The first company in Latin America to be certified (1995)
        - ISO 14001: nursery and forest areas of Botucatu




        Project that aims finding more efficient ways for using the planet. The water saving ratio, when adopting such methodology, is about 30%

        After LEED (Leadership in Energy and Environment Design) conformity evaluation, 9 product lines of Deca were awarded the Sustentax
        label with items that help saving up to 80% of water usage


        GBC Brazil has as its mission to help developing a sustainable construction industry in Brazil




• 229 K hectares of land (own and leased)                           New Evolução da Produtividade em Novas Florestas Eucalipto
                                                                        Developments in Productivity in Eucalyptus Forests
                                                                                                    - São Paulo -
• 160,9 K hectares of planted forests                                                                               +160%
• 268 million trees planted                                               60                                                          51     52
                                                                                                                               48
                                                        IMA (m³/ha.ano)




• 56 trees planted per minute                                             50                 40        44      44        45
                                                                          40          30
                                                                          30   20
• Cut between 6 and 7 years                                               20
                                                                          10
• Low distance between forests                                             0
• Increased productivity                                                       Anos   Anos   2000     2005    2006      2007   2008   2009   2010
                                                                                60     80
• Conservation of native forests                                                                             Year base
                                                                                                             Ano base



                                                                                                                                                    -22-
SUSTAINABILITY
      Annual and Sustainability Report 2010 with GRI (Global Reporting Initiative) APPLICATION LEVEL A




                                                                                                         -23-
CORPORATE GOVERNANCE                                  CAPITAL STRUCTURE

                                                        MAJOR SHAREHOLDERS IN JUNE 2011


                                                           27,4%

                                                                                0,2%


                                                                                                  Total outstanding shares:
     Grupo Itaúsa
                                                                                                  550.035.331(1)
     Grupo Ligna                                                                                  (1)   Shares in treasury: 1.199.486
                                   12,7%
     Fundos de Pensão
      Local Pension Funds
     Fundos de Investimentos
      Other Local Investors
     Investidores Estrangeiros
      Foreign Investors
      Treasury
     Tesouraria
                                     2,0%
                                                                                          39,9%



                                              17,8%
 100% common shares (1 share, 1 vote)
 Free Float 42,6% ON
 Divided Policy: 30% of the adjusted Net Income
 Board of Directors: 9 Members, 3 of which being Independent
                        Members,




                                                                                                                                        -24-
CORPORATE GOVERNANCE                                           VALUE CREATION

                                                 DURATEX e IBOVESPA base 100 (19.June.2009 – 30.June.2011)


                                                               MARKET CAP: R$ 7,3 billion
 300


                                                                                                                                                   +111,0 %
 250
                                                                                                                                                                      R$ 13,21


 200


 150                                                                                                                                              +21,3 %

                                                                                                                                                                     62.337
 100


   50


     0
                               9




                                                                    0




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                                                                                                                                             m
                                                                 DTEX Base 100                       IBOV Base 100



                                                                                                                                                                                 -25-
DISCLAIMER

           The information contained herein was prepared by Duratex S.A. and does not
constitute an offering material, to subscribe for or purchase any of the Company’s securities. This
material also brings general information about Duratex S.A. and its markets. No representation or
warranty, express or implied, is made concerning, and no reliance should be placed on, the
accuracy, fairness or completeness of the information presented herein.
           The Company can give no assurance that expectations disclosed in this presentation
will be confirmed.


                                                                                     August, 2011




                                                                                                      -26-
Investor Relations
www.duratex.com.br




                      -27-

Duratex - Corporate Presentation 2Q11

  • 1.
    CORPORATE PRESENTATION AUGUST 2011 Investor Relations / www.duratex.com.br -1-
  • 2.
    SCENARIO 2010 2010 Overcoming the crisis of 2009 Cost pressure from the second semester (labor on labor and copper) copper Rates Recovery base Recovery of price Rates Recovery Costs in balance Recovery of price base Tax exemptionuntil March IPI exemption until March 2011 2011 Macro-prudential measures Cost pressures(labor and copper) (labor and copper) Increasing Interest Rates Sanitary wares : : Cost pressures (resin) (resin) a) Incease of prices price increase : Demand at 2010 level b) start-up of a new furnace in Recife new furnace in Recife c) incorporation of activity of Deca Nordeste Deca Nordeste Metals: a) cost management b) start-up of new galvanoplastic equipment -2-
  • 3.
    SCENARIO UNEMPLOYMENT RATE IN BRAZIL (%) MINIMUM WAGE ( in R$) 545 510 465 415 deseasonalized 380 350 ,4% 8,4 300 R 10 7,4 6,8 6,8 CAG 6,4 6,5 6,4 6,4 6,1 5,3 June´11 6,2% Dec/10 dez /06 dez /07 dez /08 dez /09 dez /10 jan/´11 fev /´11 m arç o/´11 6,2%m ai/´11 abr/´11 2005 2006 2007 2008 2009 2010 2011 SOURCE: BACEN SOURCE: IBGE DISPOSABLE INCOME (R$ mn) TOTAL CREDIT x xPIB inIN BRAZIL %) CREDITL GDP BRAZIL ( (%) 419.593 432.407 373.340 385.634 4 00000 48% 345.923 46,9% 328.204 47% 46,6% 46,5% 46,6% 309.671 46,3% 46,5% 46% 5,7% 3 00000 45,0% CAGR 45% 2 00000 44% 43% 42% 1 00000 40,8% 41% 40% 0 2005 2006 2007 2008 2009 2010 UDM up atéMay´11 UDM to 2008 2009 2010 jan/11 Jan/11 fev/11 mar/11 Feb/11 March/11 abr/11 April/11 mai/11 May/11 SOURCE: IBGE Maio´11 SOURCE: BACEN -3-
  • 4.
    52,0% -4-
  • 5.
    SCENARIO NET REVENUE OF A SELECTION OF BUILDING COMPANIES IN BRAZIL (in R$ mn) 87.861 +21,5% 81.518 68.843 56.670 13E = 16% CAG R 10- 2.010 2011E 2012E 2013E LAUNCHES (in R$ mn) +21,7% 97.294 106.521 86.866 71.377 = 14% CAG R 10-13E 2.010 2011E 2012E 2013E SOURCE: Research Credit Suisse, June/11 Selected companies: (PDG, MR V, Cyrela, Brookfield, Rossi, Gafisa, Tecnisa, Eeven, Direcional, Viver, CCDI) -5-
  • 6.
    SCENARIO GLOBAL INFLATION RATES INFLATION RATE IN BRAZIL- SIGNS OF DECELERATION CPI inflation r ates Emerging econom ies Monthly average: 0,73% average: Setember/2010 – April/2011 (year-on-year % change) MonthlyMensal::0,33% Média average 0,33% average: June/2011 – December/2011 Sources: OECD, Haver Analytic s. Source: BCB/ IBGE Note: Latest observation refers to May 2011 except for Korea and Turkey (June 2011). * Focus Report - Market expectations –median (24.June.2011) COMPLEX INTERNATIONAL SCENARIO Inflation in emerging economies Euro Zone (expectation for 201) • Sovereign debt crises • Low and unequal growth • Inflation risk Japan • Earthquake , Tsunami Earthquake, • Eonomic downturn United States BRAZIL • Nuclear crisis • Losing strength and growth IPCA: 6,15 (*) • Disruption of supply chains • Unemployment still high IGPM: 6,01 • Inflation on the rise • Negotiation of debt ceiling North Africa & Source: BCB/ BLOOMBERG/ FOCUS REPORT Middle East • Tunisia • Syria (*) IPCA (National Index of Consumer Prices) South Africa IGPM (General Index of Market Prices) • Egypt • Yemen • Libya -6-
  • 7.
    SCENARIO WOOD PANELS´ MARKET TOTAL CONSUMPTION OF PANELS IN BRAZIL (Source ABIPA, in ‘000 m³) 2.972 MDF 2.263 2.352 2.037 1.861 ,4% +26 1.487,9 1.413,5 1.459,4 -1,9% Usage: Rounded edges, sculptured surfaces,frames 2005 2006 2007 2008 2009 2010 1S10 1S11 MDF: AVAILABLE EFFECTIVE CAPACITY: 3.660 K m³/YEAR EFFECTIVE CAPACITY OF THE INDUSTRY: 4.080 K m³/YEAR* MDP 2.633 2.885 2.548 2.431 2.102 2.186 +18,7% 1.449,6 1.443,3 = Usage: Flat parts, 2005 2006 2007 2008 2009 2010 1S10 1S11 Sides / Partitions / Shelves MDP: AVAILABLE EFFECTIVE CAPACITY : 3.620 K m³/YEAR EFFECTIVE CAPACITY OF THE INDUSTRY : 4.000 K m³/YEAR* * Annual effective capacity of the industry based on lines already installed, after periods of ramp-up and minor investments -7-
  • 8.
    SCENARIO BUILDING MATERIALS INDUSTRY ABRAMAT INDEX* - INTERNAL MARKET Achieved x Projected ( accumulated x same period last year) 7,00% ** 5,00% 0,58% March July 1H 2011 Forecast Source: Associação Brasileira da Indústr ia de Materiais de Construção * Monthly indicator of sales per for mance of the Building Materials Industry -8-
  • 9.
    PERFORMANCE RECONCILIATION OF TOTAL ASSETS AND EQUITY TOTAL ASSETS (in R$´000) 30/June/2011 31/March/2011 30/June/2010 Before adjustments to IFRS 5.503.248 5.080.107 423.141 4.862.693 640.555 Business Combination 744.274 751.460 (7.186) 769.747 (25.473) Biological Assets 326.188 334.492 (8.304) 286.264 39.924 Employee Benefits 69.881 69.102 779 61.320 8.561 Other adjustments 2.873 2.873 0 (14.785) 17.658 After adjustments to IFRS 6.646.464 6.238.034 408.430 5.965.239 681.225 Variation 1.143.216 1.157.927 (14.711) 1.102.546 40.670 EQUITY (in R$´000) 30/June/2011 31/March/2011 30/June/2010 Before adjustments to IFRS 2.732.339 2.692.433 39.906 2.454.787 277.552 Business Combination 549.068 552.053 (2.985) 564.123 (15.055) Biological Assets 215.284 220.764 (5.480) 188.934 26.350 Employee Benefits 46.121 45.608 513 40.471 5.650 Other adjustments 19.450 9.675 9.775 61.708 (42.258) After adjustments to IFRS 3.562.262 3.520.533 41.729 3.310.023 252.239 Variation 829.923 828.100 1.823 855.236 (25.313) -9-
  • 10.
    PERFORMANCE INDEBTEDNESS LEVERAGE AND AMORTIZATION SCHEDULE ENDIVIDAMENTO R$´000 30/June/2011 30/06/2011 31/March/2011 31/03/2011 Variation 3/June/2010 Variação 30/06/2010 Variation Variação Short Term Debt Endividamento Curto Prazo 531.969 513.686 18.283 592.778 (60.809) Long Term Debt Endividamento Longo Prazo 1.397.867 1.168.154 229.713 1.053.608 344.259 Total Financial Debt Endividamento Total 1.929.836 1.681.840 247.996 1.646.386 283.450 Cash Disponibilidades 759.763 501.746 258.017 717.732 42.031 Net Debt Endividamento Líquido 1.170.073 1.180.094 (10.021) 928.654 241.419 Net Debt/ Equity Endividamento Líquido / PL 32,8% 33,5% - 28,1% - Net Debt/ EBITDA Líquido / EBITDA* Endividamento * 1,31 1,33 - 1,48 - * EBITDA in the last 12 months ORIGIN OF DEBT AMORTIZATION SCHEDULE (in R$ mn) 1.929,8 264,1 Foreign Currency 625,8 5,9% 342,5 759,8 321,6 375,8 Domestic Currency Cash Total 2011 2012 2013 2014 After 94,1% Debt 2014 -10-
  • 11.
    PERFORMANCE RECONCILIATION OF NET INCOME R$´000 After adjustments to IFRS (R$´000) 2Q11 1Q11 % 2Q10 % 1H2011 1H2010 % Consolidated Net Revenue 751.181 659.865 13,8 712.303 5,5 1.411.046 1.318.883 7,0 Gross Profit 253.856 225.018 12,8 284.716 (10,8) 478.874 506.439 (5,4) Operating profit before financial result 143.411 123.177 16,4 172.259 (16,7) 266.588 301.757 (11,7) Income before Taxes and Contributions 111.287 94.091 18,3 149.128 (25,4) 205.378 251.839 (18,4) Net Income 100.383 76.876 30,6 102.720 (2,3) 177.259 171.357 3,4 ROE 11,3% 8,8% - 12,6% - 10,1% 10,6% - Extraordinary Events * (9.284) 0 - 0 - (9.284) 0 - Recurrent Net Income 91.099 76.876 18,5 102.720 (11,3) 167.975 171.357 (2,0) Recurrent ROE 10,3% 8,8% - 12,6% - 9,6% 10,6% - Reconciliation IFRS to BR GAAP 2Q11 1Q11 % 2Q10 % 1H2011 1H2010 % Net Income (After adjustments to IFRS) 100.383 76.876 30,6 102.720 (2,3) 177.259 171.357 3,4 Business Combination 2.919 4.072 (28,3) 3.940 (25,9) 6.991 7.333 (4,7) Biological Assets 5.481 (1.536) (456,8) (6.131) (189,4) 3.945 (3.757) (205,0) Employee Benefits (515) (1.517) (66,1) (1.809) (71,5) (2.032) (3.618) (43,8) Other Adjusts 0 0 - 13.086 - 0 21.178 - Net Income Before adjustments to IFRS 108.268 77.895 39,0 111.806 (3,2) 186.163 192.493 (3,3) ROE Before adjustments to IFRS 16,0% 11,7% - 18,5% - 13,9% 16,1% - Extraordinary Events * (9.284) 0 - 0 - (9.284) 0 - Recurrent Net Income 98.984 77.895 27,1 111.806 (11,5) 176.879 192.493 (8,1) Recurrent ROE 14,6% 11,7% - 18,5% - 13,2% 16,1% - * Fixed asset revenue -11-
  • 12.
    PERFORMANCE NET REVENUES NET REVENUES (in R$´000) 2Q11 1Q11 % 2Q10 % 1H2011 1H2010 % Consolidated Net Revenues 751.181 659.865 13,8 712.303 5,5 1.411.046 1.318.883 7,0 Wood Division 480.680 413.708 16,2 470.694 2,1 894.388 883.663 1,2 Deca Division 270.501 246.157 9,9 241.609 12,0 516.658 435.220 18,7 ORIGIN OF NET REVENUE IN 2Q11 GEOGRAPHICAL DISTRIBUTION OF SALES CONSOLIDATED NET REVENUES M DF /HDF /SDF / M DP FOREIGN MERCADO LAMINATED FLOORING PISO LAM INADO 20,2% MARKET EXTERNO 34,7% 4% CHAPA DE FIBRA HARDBOARD 8,6% COM PONENTES COMPONENTS LOUÇAS 0,5% VITREOUS DOMESTIC MERCADO SANITÁRIAS CHINA M ETAIS METAL MARKET INTERNO 17,2% SANITÁRIOS FITTINGS 96% 18,8% -12-
  • 13.
    PERFORMANCE RECONCILIATION OF CONSOLIDATED EBITDA After adjustments to IFRS (R$´000) R$´000 2Q11 1Q11 % 2Q10 % 1H2011 1H2010 % Consolidated Net Revenues 751.181 659.865 13,8 712.303 5,5 1.411.046 1.318.883 7,0 Operating profit before financial result 143.411 123.177 16,4 172.260 (16,7) 266.588 301.756 (11,7) Depreciation / Amortization / Depletion 75.018 63.969 17,3 57.788 29,8 138.987 115.599 20,2 Change in Fair Value of Biological Assets (27.693) (35.603) (22,2) (46.185) (40,0) (63.296) (76.902) (17,7) Depletion portion of Biological Assets 35.998 33.275 8,2 36.896 (2,4) 69.273 71.210 (2,7) Employee Benefits (780) (2.298) (66,1) (2.741) (71,5) (3.078) (5.482) (43,9) EBITDA 225.954 182.520 23,8 218.018 3,6 408.474 406.181 0,6 EBITDA Margin 30,1% 27,7% - 30,6% - 28,9% 30,8% - Extraordinary Events* (14.068) 0 - 0 - (14.068) 0 - Recurrent EBITDA 211.886 182.520 16,1 218.018 (2,8) 394.406 406.181 (2,9) Recurrent EBITDA Margin 28,2% 27,7% - 30,6% - 28,0% 30,8% - Recurrent EBITDA by Division Wood 145.846 110.249 32,3 146.444 (0,4) 256.095 275.339 (7,0) Deca 66.040 72.271 (8,6) 71.574 (7,7) 138.311 130.842 5,7 * Fixed asset revenue -13-
  • 14.
    PERFORMANCE RECONCILIATION OF CONSOLIDATED EBITDA R$´000 adjustments to IFRS R$´000 Before 2Q11 1Q11 % 2Q10 % 1H2011 1H2010 % Consolidated Net Revenue 751.181 659.865 13,8 712.303 5,5 1.411.046 1.318.883 7,0 Operating profit before financial result 163.524 131.864 24,0 174.321 (6,2) 295.388 317.112 (6,9) Depreciation / Amortization / Depletion 68.442 57.624 18,8 51.832 32,0 126.066 103.705 21,6 EBITDA 231.966 189.488 22,4 226.153 2,6 421.454 420.817 0,2 EBITDA Margin 30,9% 28,7% - 31,7% - 29,9% 31,9% - Extraordinary Events * (14.068) 0 - 0 - (14.068) 0 - Recurrent EBITDA 217.898 189.488 15,0 226.153 (3,7) 407.386 420.817 (3,2) Recurrent EBITDA Margin 29,0% 28,7% - 31,7% - 28,9% 31,9% - Recurrent EBITDA by Division Wood 147.930 114.200 29,5 151.290 (2,2) 262.130 283.764 (7,6) Deca 69.968 75.288 (7,1) 74.863 (6,5) 145.256 137.053 6,0 * Fixed asset revenue -14-
  • 15.
  • 16.
  • 17.
    PERFORMANCE EBITDA RECONCILIATION After adjustments to IFRS (R$´000) R$´000 2Q11 1Q11 % 2Q10 % 1H2011 1H2010 % Shipment (in 1.000 items) 6.259 5.737 9,1 5.933 5,5 11.996 10.697 12,1 Net Revenue 270.501 246.157 9,9 241.609 12,0 516.658 435.220 18,7 Operating profit before financial result 53.057 61.008 (13,0) 62.238 (14,8) 114.065 113.157 0,8 Depreciation / Amortization / Depletion 13.216 12.121 9,0 10.266 28,7 25.337 19.491 30,0 Employee Benefits (233) (858) (72,8) (930) (74,9) (1.091) (1.805) (39,6) EBITDA 66.040 72.271 (8,6) 71.574 (7,7) 138.311 130.843 5,7 EBITDA Margin 24,4% 29,4% - 29,6% - 26,8% 30,1% - Extraordinary Events 0 0 - 0 - 0 0 - Recurrent EBITDA 66.040 72.271 (8,6) 71.574 (7,7) 138.311 130.843 5,7 Recurrent EBITDA Margin 24,4% 29,4% - 29,6% - 26,8% 30,1% - Before adjustments to IFRS Recurrent EBITDA 69.968 75.288 (7,1) 74.863 (6,5) 145.256 137.053 6,0 Recurrent EBITDA Margin 25,9% 30,6% - 31,0% - 28,1% 31,5% - -17-
  • 18.
    PERFORMANCE DECA DIVISION HIGHLIGHTS INSTALLED CAPACITY & OCCUPANCY RATE IN 2Q11 VITREOUS 9.800 K CHINA 89% 9.800 K items/year items/year METAL FITTINGS 93% 17.000 K 17.000 K items/year items/year SHIPMENT (in ‘000 items) LOCALIZATION OF PLANTS 11.996 10.697 ,1% +12 5.933 6.259 5.529 5.413 5.737 % 9 p la n ta s +9,1 9 PLANTS METALS VITREOUS CHINA 2Q10 2T10 3Q10 3T10 4Q10 4T10 1Q11 1T11 2Q11 2T11 1S10 1S11 -18-
  • 19.
    CAPEX CONSOLIDATED CONSOLIDADO CAPEX (R$ mn) R$ 2,9 billion 891,2 CAPEX in 1H2011 800,0 Estimated DECA FOREST 456,4 42% 18% 459,6 427,0 341,7 CORPORATE 1% WOOD 343,6 Accomplished 39% in 1H2011 2007 2008 2009 2010 2011E -19-
  • 20.
  • 21.
    CAPEX DECA DIVISION EVOLUTION OF NOMINAL CAPACITY (´000 items/year) & CAPEX Investments R$ 430 million Vitreous China % CAGR: 10,8 30.400 + 1,8mn items/year: acquisition of Elizabeth, PB (Feb/11) M 26.800 + 0,8mn items/year: new furnace in Cabo de Santo Agostinho, PE ( Apr/11) M 21.800 23.000 23.000 12.200 (*)+ 2,4mn items/year: reactivation and expansion of the Queimados unit, RJ (2012) M 18.200 9.800 Metals 6.200 7.200 7.200 3.800 +2,4mn items/year (2011/2012) M Robotic center of tuning 15.600 15.800 15.800 17.000 18.200 Milling machine 14.440 Forging press New Galvanoplastic equipment 2007 2008 2009 2010 2011 2012 (*) Vitreous China in Queimados: ORIGINAL PROJECT: CAPEX R$ 100mn, Capacity: 1.9 million pieces / year Metal Metais Vitreous China Louças Sanitárias REVISED PROJECT: CAPEX R$ 130mn, Capacity: 2.4 million pieces / year OBJECTIVE: INCREASE OF PRODUCTION FOR HIGH AND MIDDLE INCOME SEGMENTS Metal Fittings - SP Metal Fittings Jundiaí - SP Vitreous China- PE -21-
  • 22.
    SUSTAINABILITY PRACTICES - Green Seal (FSC): The first company in Latin America to be certified (1995) - ISO 14001: nursery and forest areas of Botucatu Project that aims finding more efficient ways for using the planet. The water saving ratio, when adopting such methodology, is about 30% After LEED (Leadership in Energy and Environment Design) conformity evaluation, 9 product lines of Deca were awarded the Sustentax label with items that help saving up to 80% of water usage GBC Brazil has as its mission to help developing a sustainable construction industry in Brazil • 229 K hectares of land (own and leased) New Evolução da Produtividade em Novas Florestas Eucalipto Developments in Productivity in Eucalyptus Forests - São Paulo - • 160,9 K hectares of planted forests +160% • 268 million trees planted 60 51 52 48 IMA (m³/ha.ano) • 56 trees planted per minute 50 40 44 44 45 40 30 30 20 • Cut between 6 and 7 years 20 10 • Low distance between forests 0 • Increased productivity Anos Anos 2000 2005 2006 2007 2008 2009 2010 60 80 • Conservation of native forests Year base Ano base -22-
  • 23.
    SUSTAINABILITY Annual and Sustainability Report 2010 with GRI (Global Reporting Initiative) APPLICATION LEVEL A -23-
  • 24.
    CORPORATE GOVERNANCE CAPITAL STRUCTURE MAJOR SHAREHOLDERS IN JUNE 2011 27,4% 0,2% Total outstanding shares: Grupo Itaúsa 550.035.331(1) Grupo Ligna (1) Shares in treasury: 1.199.486 12,7% Fundos de Pensão Local Pension Funds Fundos de Investimentos Other Local Investors Investidores Estrangeiros Foreign Investors Treasury Tesouraria 2,0% 39,9% 17,8%  100% common shares (1 share, 1 vote)  Free Float 42,6% ON  Divided Policy: 30% of the adjusted Net Income  Board of Directors: 9 Members, 3 of which being Independent Members, -24-
  • 25.
    CORPORATE GOVERNANCE VALUE CREATION DURATEX e IBOVESPA base 100 (19.June.2009 – 30.June.2011) MARKET CAP: R$ 7,3 billion 300 +111,0 % 250 R$ 13,21 200 150 +21,3 % 62.337 100 50 0 9 0 0 1 9 9 0 0 10 11 9 0 0 0 1 1 9 0 1 09 10 t-0 r-1 t-1 r-1 0 -0 1 -1 -0 -1 -1 t-1 v-1 -1 -0 -1 -1 o- ai- o- ai- v- v- jun jan jun jun jul ar ar z z ou ab ou ab se fe ag de ag de no no m m m m DTEX Base 100 IBOV Base 100 -25-
  • 26.
    DISCLAIMER The information contained herein was prepared by Duratex S.A. and does not constitute an offering material, to subscribe for or purchase any of the Company’s securities. This material also brings general information about Duratex S.A. and its markets. No representation or warranty, express or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented herein. The Company can give no assurance that expectations disclosed in this presentation will be confirmed. August, 2011 -26-
  • 27.