Izard Nobel LLP Announces Class Action Lawsuit Against Aracruz Celulose S.A.

• Press Release
• Source: Izard Nobel LLP
• On 4:15 pm EST, Wednesday December 3, 2008

HARTFORD, CT--(MARKET WIRE)--Dec 3, 2008 -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of Florida on behalf of those who purchased the American Depository Receipts ("ADRs") of Aracruz Celulose S.A. ("Aracruz" or the "Company") (NYSE:ARA - News) between April 7, 2008 through October 2, 2008, inclusive (the "Class Period").

The Complaint charges that Aracruz, a major Brazilian manufacturer of forest products, which they market to manufacturers of consumer paper products around the world, and certain of its officers and directors violated federal securities laws. Specifically, Aracruz entered into undisclosed currency derivative contracts to purportedly hedge against the Company's U.S. dollar exposure. Aracruz characterized the use of these contracts as protection against foreign interest rate volatility and assured investors that this type of trading did not represent "a risk from an economic and financial standpoint." However, these contracts violated Company policy in that they were far larger than necessary to hedge normal business operations. As a result of Aracruz's clandestine and speculative currency wagers, credit rating agencies downgraded Aracruz and the Company's CFO resigned. On October 3, 2008, the Company's ADRs closed at $23.40, down $7.84 per share, a decline of 25%.

If you are a member of the class, you may, no later than January 26, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/aracruz/, or contact Izard Nobel LLP toll-free at (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

     CONTACT:
     Nancy A. Kulesa or Wayne Boulton
     Tel.: (800) 797-5499
     Website: http://www.izardnobel.com
     e-mail: Email Contact