Novo Mercado – On April 2, 2008 shareholders of Magnesita S.A. had their sharessubstituted for by those of Magnesita Refratários S.A., grouped and traded under the Novo Mercado rules

Incorporation – Magnesita S.A. and Partimag are merged into the Parent Company Magnesita Refratários S.A.

Change in Control – GP and Gávea acquire control of Magnesita S.A., conduct two 2 IPOs and buy shares directly on the market.

End of Family-run Management – Since its creation until this date, Magnesita was managed by the Pentagna Guimaraes Family.

Bovespa – In 1969, Magnesita S.A. is listed on the São Paulo Stock Market

Foundation – After discovery of a large quantity of magnesite in Brumado/BA mines, Magnesita Ltda. is founded. Industrial activities initiated in 1944.

1969

Sep/07

Dec-07 ajan/08

Feb/08

Apr/08

1939

Previous Shareholding Structure

RISAREFRATÁRIOS

RISA MATERIALSCERÂMICOS

CERÂMICA SÃO

CAETANOFRUTMAG CEPALI Refratec

RASA(Argentina)

REFRATECPARTICIPAÇÕES

MAGNESITASERVICE SÀO JOSÉ MSA INFOR

PARAÍSODERBYILIAMA

(Portugal)BERNHANDT

(Portugal)

MSA SERVICE

MSAAGROPECUÁRIA

BERNHANDT(Spain) IKERA

REMSA(Argentina)

ILIAMA(Spain)

MAGNESITAS.A.

MINORITY SHAREHOLDERS

Partimag

GP Gávea

RPAR Holding S.A.

100% 95% 100% 100% 100% 100% 100% 100% 100% 100%

34%66% 100% 100% 100% 100% 98% 100%

100% 100% 99.9755% 97.9769%

1.9653%0.0122%

Total = 24 companies

RISAREFRATÁRIOS

RISAREFRATÁRIOS

RISA MATERIALSCERÂMICOS

RISA MATERIALSCERÂMICOS

CERÂMICA SÃO

CAETANO

CERÂMICA SÃO

CAETANOFRUTMAGFRUTMAG CEPALICEPALI RefratecRefratec RASA

(Argentina)

RASA(Argentina)

REFRATECPARTICIPAÇÕES

REFRATECPARTICIPAÇÕES

MAGNESITASERVICE

MAGNESITASERVICE SÀO JOSÉSÀO JOSÉ MSA INFORMSA INFOR

PARAÍSOPARAÍSODERBYDERBYILIAMA(Portugal)

ILIAMA(Portugal)BERNHANDT

(Portugal)BERNHANDT

(Portugal)

MSA SERVICE

MSA SERVICE

MSAAGROPECUÁRIA

MSAAGROPECUÁRIA

BERNHANDT(Spain)

BERNHANDT(Spain) IKERAIKERA REMSA

(Argentina)

REMSA(Argentina)

ILIAMA(Spain)

ILIAMA(Spain)

MAGNESITAS.A.

MAGNESITAS.A. MINORITÁRIOSMINORITÁRIOS

PartimagPartimag

GPGP GáveaGávea

RPAR Holding S.A.

RPAR Holding S.A.

100% 95% 100% 100% 100% 100% 100% 100% 100% 100%

34%66% 100% 100% 100% 100% 98% 100%

100% 100% 99,9755% 97,9769%

1,9653%0,0122%

Initial Changes

MSA Service

Other Shareholdersand

Treasury

100% 100% 100% 100% 100%

100% 98%

47.0% 12.5% 40.5%

GáveaGP

Magnesita Refratários S.A.

Cerâmica São Caetano

Mag-SéRasa

(Argentina)Iliama

(Espanha)MSA Infor

Iliama(Portugal)

Current Shareholding Structure

Total = 8 companies

Extraction of Minerals

Production of Refractories

Service Supplier

Products Capacity (*)

� 320

� 60

� 48

� 590

Applications

� Refractory Masses and Bricks

� Fertilizers, steelmaking, abrasives, magnesium salts, animal feed

� Plastics, cosmetics, pharmaceuticals, paper/pulp, chemical industry, rubber

� Steel industry, cement, non-ferrous metals, iron alloys and others.

Produos e Aplicações

(*) ktpy

� Sinter

� Caustic Magnesite(magn esia oxide)

� Talc

� Basics

� Aluminum products

� Monolithics and cast products

� Valves

� Refractory solutions that contribute to potentializ e and optimize the client’s output capacity.

� Supplementary services to the steel making process – electro-mechanical maintenance of equipment, assembly and disassembly of refractories , among others.

We create high value-added solutions to costumers

7

Market leader in Brazil andSouth America

Vertically integratedbusiness model

Long-lasting and high qualitymineral reserves

Solutions-based business model

11

33

44

55Attractive domestic

industrial dynamic with highpotential abroad

66

Leading-edge technology

77

Consolidated andexperienced management

88

Stable and long-term commercialrelationships based on top-tier

customers

22

Accomplishments

� Incorporation of subsidiaries

� Selloff of non core assets

� Acquisition of Insider

� Partnership with Krosaki

� Renegotiation of the debt

Results

� Administrative efficiency

� Tax benefits

� Cost reductions

� Increase of margins

� Moody´s Rating Aa2.br

9

395

97 90 10431 21 2967

30 34

175

2007 1Q07 4Q07 1Q08

Refractories Sínter Others Minerals

570

195167

Refractories

1Q08x1Q07 = + 7.2%

1Q08x4T07 = + 15.5%

Sinter

1Q08x1Q07 = - 6.4%

1Q08x4T07 = + 38.1%

Total

1Q08x1Q07 = - 14.4%

1Q08x4T07 = + 18.4%

141

Note: In 2007, revenues from sinter and other mineralsare added.

1Q07 2Q07 3Q07 4Q07 1Q08

ME

MI

302 306323

Heated up demand in the steel and cement sectors in 1Q08 raised sales by R$ 17.0 million

Net Revenues – R$ million

1Q08

Net Revenues per Product

312

278

11

348.6

1Q08 vs. 1Q07 = +15.3%

EBITIDA – R$ million EBITIDA Margin – %

1st Qtr.

2nd Qtr.

3rd Qtr.

4th Qtr.

+45,3%

217.7

Raw Materials31%

Labor28%

Fuels13%

Depreciation6%

Industrial Maintenance

4%

Freighting4%

Energy5%

Others9%

COGS - 1Q08 Operating Expenses

1Q07 2Q07 3Q07 4Q07 1Q08

Administratives

Commercial

Magnesite benefits from its vertical structure, with 80% own resources, of which 100% in magnesite sinter and dolomite.

31 31 31 30 25

35 33 33

63

31

- 50,8%

Gross Debt - R$ million Net debt / EBITDA

157.5

894.4

Obs.: 03.31.08 – annualized EBITDA was considered

413

680

249 220

375

-7603/31/07 12/31/07 03/31/08

Net Debt Ebitda

Base 100 - 12 months Price and Volume - Novo Mercado

Mission

To provide our clients with integrated solutions in services, refractories and raw materials, which maximize their results, developing long term relationships and business models which are replicable in other geographies.VisionTo be the largest and most profitable company, providing solutions in services refractories and raw materials in the world until 2012.Values

Organizational Identity

� Clients – The essence of our company is to provide high value added solutions to our clients.

� People – Excellent people teaming-up and thinking as shareholders and owners constitute our most valuable “competitive advantage”. Our executives day to day agenda includes the formation of our people.

� Meritocracy – We reward and recognize success and offer opened opportunities for our people to seek develop in the extent of each one´s talent, speed and results.

� Management model – Hard working, creativity, discipline and optimism are inherent to our management model and are crucial to reach and excel challenging objectives and high performance standards.

� Profit – Maximizing our results is the sole route to perpetuate our existence and future growth.

� Ethics – We will never give up our ethics and integrity in pursuing results. We will not tolerate any faults in this regard.

� Agility and transparence – we are simple and fast in executing and communicate on a transparent and objective manner.

� Environment and Community – we operate respecting the environment and we help developing the communities around us.