Minutes of a Meeting of the Board of Directors

Data:	24/02/2016
Veículo:	Jornal do Comércio

MONTEIRO ARANHA S.A
Publicly Listed Company
CNPJ 33.102.476/0001-92
NIRE Nº 33300108611

MINUTES OF A MEETING OF THE BOARD OF DIRECTORS
HELD ON FEBRUARY 22, 2016

At 3 p.m. on February 22, 2016, a meeting was held of a majority of members of the Board of Directors of MONTEIRO ARANHA S.A, at Company Headquarters, located at Ladeira de Nossa Senhora No. 163, Glória, Rio de Janeiro. Chairing the meeting was Mr. OLAVO EGYDIO MONTEIRO DE CARVALHO, inviting Mrs CELI ELISABETE JULIA MONTEIRO DE CARVALHO to act as Meeting Secretary. As Secretary, she announced that the meeting had been convened with the objective of re-electing the current members of the Executive Board, with a mandate of 1 (one) year, as follows: SÉRGIO ALBERTO MONTEIRO DE CARVALHO, Brazilian, married, businessman, resident and domiciled in this city at Avenida Vieira Souto No. 390 – cob.1, Ipanema, holder of identity card No. 01706709-1, issued by I.F.P., registered under CPF No. 007.260.287-20 – as Chief Executive Officer; CELI ELISABETE JÚLIA MONTEIRO DE CARVALHO, Brazilian, divorced, businesswoman, resident and domiciled in this city at Avenida. Prefeito Mendes de Moraes No. 1.400, Bloco II, Apt. 1503, São Conrado, holder of identity card No. 03.917.534-4, issued by IFP, and registered under CPF No. 428.912.807-68 – as Executive Vice-President; SÉRGIO FRANCISCO MONTEIRO DE CARVALHO GUIMARÃES, Brazilian, married, economist, resident and domiciled in this city at Avenida Prefeito Mendes de Moraes No. 1010 – apt. 701, São Conrado – RJ, holder of identity card No. 05438231-2, issued by IFP, registered under CPF No. N25.095.897-68 – Director and JOAQUIM PEDRO MONTEIRO DE CARVALHO COLLOR DE MELLO, Brazilian, married, economist, holder of identity card No. 085.081.467-79, resident and domiciled in this city at Rua Rita Ludolf 71, Apt. 301, Leblon/RJ – CEP 22440-060 as Director, also exercising the post of Investor Relations Director, who all being present, duly provided, pursuant to the terms of Article 4 of CVM Instruction No. 367/02, the declarations referred to in Article 2 of the same CVM Instruction No. 367/02. The Directors thus duly took up their posts, upon the signing of a Term of Investiture, duly written up in the Executive Board Meeting Minutes Record Book and shall remain at their posts until relieved by their successors. There being no further business to attend to, these meeting minutes were duly written up in the record book, and having been read and approved, were signed by all those Board Members present.

(Signed below): Olavo Egydio Monteiro de Carvalho, Sérgio Alberto Monteiro de Carvalho, Celi Elisabete Julia Monteiro de Carvalho, Rui Manuel de Medeiros d´Espiney Patrício, Alberto Santos Pinheiro Xavier, Sérgio Francisco Monteiro de Carvalho Guimarães, Jean Pierre Luca Carlo Cedroni and Octavio Francisco Monteiro de Carvalho Domit.

I certify that this is an authentic copy of the original duly written up in the record book.

Rio de Janeiro, February 22, 2016.

OLAVO EGYDIO MONTEIRO DE CARVALHO
Chairman