Milu Villela

Maria de Lourdes Egydio Villela ( Milu Villela) is a Special Advisor of the Company. As a Special Advisor, Milu Villela will advise the Company, with respect to Brazil and other markets, on its involvement in social, cultural and philanthropic endeavors. Ms. Villela is highly respected and well known throughout Brazil for her dedication to philanthropy, social, cultural and educational causes. She is President of the Sao Paulo Museum of Modern Art and of Itau Cultural Institute and a member of the International Council of the New York Museum of Modern Art (MoMA-NY). Ms. Villela is also President of the Sao Paulo Volunteer Center and of the International Year of the Volunteer 2001. She is a founder and head of Vocational Training for "Despertar" Community Association and founder of the Caracol Nursery School.

Ms. Villela is also very actively involved in her family's business interests as Vice Chairman of the Board of Itausa (, a Board member of Banco Itau and of Banco Itau International Committee and Duratex, S.A. According to Latin CEO Magazine's May 2001 list of the Top 100 Companies in Latin America, Itausa, is the largest privately controlled publicly traded company in Brazil. It is a conglomerate that owns more than 100 companies and has assets of $27 billion dollars. Among the companies it owns are Banco Itau (Brazil's 2nd largest private bank), Itautec Philco (one of Brazils top electronics manufacturers), Duratex S.A. (construction materials) and Itausa Empreendimentos (one of Brazils top real estate developers).

Ms. Villela is involved in a number of other businesses, and cultural and educational activities. She is a board member of E.J. Zerbini Foundation, CEAL - Council of Latin American Business Persons, GIFE - Group of Institutes, Foundations and Companies, Americas Society's International Advisory Council, BR Apoie Institucional, Sociedade de Cultura Artistica, ISE - Superior Institute of Companies, Indiana University � Center for Philanthropy, Cia. Metropolitano de Sao Paulo - METRO, Getulio Vargas Foundation university, Casa de Cultura de Israel and is a member of the Ethics in Research Committee of the Mackenzie Presbyterian University and of the Forum of Social Leaders of Brazil. Ms. Villela has received numerous Awards and recognition for her leadership, service and contributions, both personally and on behalf of the institutions she represents.