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São Martinho Announces New Strategic Plan and CEO

São Paulo, July 31st, 2008 - SÃO MARTINHO S.A. (Bovespa: SMTO3; Reuters SMTO3.SA and Bloomberg SMTO3:BZ), one of the largest sugar and ethanol producers in Brazil, announces today its new strategic plan and the appointment of Mr. Fábio Venturelli, until now the company’s vice-president of operations, as its new CEO. His appointment was confirmed at the meeting of the board of directors held on July 31, 2008.

Mr. Venturelli will start as the CEO of São Martinho with the challenge of consolidating the company’s ambitious growth plan and to expand the Company‘s activities, both in the domestic and the external market, seeking new business alternatives to complement the seasonality of the sugar and ethanol industry. The appointment of Mr. Venturelli concludes the process of professionalizing the group’s management initiated in 2000.

On February 9, 2007, São Martinho migrated to the Novo Mercado of the São Paulo Stock Exchange (Bovespa), the listing segment with the highest levels of corporate governance. The resources raised by the primary issue (approximately R$260 million) are being used to expand production units and mechanize production processes.

With this appointment, Mr. João Guilherme Ometto, the company’s CEO until now, was elected on the same date to serve as chairman of the board of directors.

The new strategic plan has the objective of leading the group to achieve crushing capacity of 30 million metric tons by the 2020-21 crop year, with investments of approximately US$2 billion. In addition to its presence in the sugar and ethanol industries, São Martinho will focus on new niche markets such as ethanol-chemicals and electric power.

Sincerely,

João do Val
Chief Financial and Investor Relations Officer

Felipe Vicchiato
Investor Relations Manager

Tel: +55 (11) 2105-4100
Email: ri@saomartinho.ind.br
IR Website:: www.saomartinho.ind.br/ir

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