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JBS TO ACQUIRE NATIONAL BEEF PACKING
Source: U.S. Premium Beef news release

U.S. Premium Beef, LLC (USPB) and National Beef Packing Company, LLC (National Beef) today announced that they have entered into a Membership Interest Purchase Agreement with JBS S.A. (JBS) under which JBS will acquire all of the outstanding membership interests of National Beef.

Under the terms of the agreement, JBS will pay the members of National Beef total proceeds of approximately US$465 million cash and US$95 million in JBS common stock. In addition, JBS will assume all of National Beef's debt and other liabilities at closing.

The sale will combine all of National Beef's operations and facilities, including National Carriers, Inc. and its ownership in Kansas City Steak Company, LLC with JBSSwift's beef operations.

National Beef President Tim M. Klein will become President and Chief Operating Officer of the joint
National Beef/JBS-Swift beef operations.

The transaction is subject to certain conditions and will require customary regulatory approvals.

JBS S.A. is a public company with its shares listed on BOVESPA's Novo Mercado under the symbol JBSS3.

JBS operates 23 plants in Brazil and 6 in Argentina in addition to its operations in Australia and the United States resulting from the purchase of Swift and Company last year.

In the year ending September 2007, JBS generated pro forma net revenue of US$11.9 billion and processed 9.0 million head of cattle.


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