VCP Votorantim Celulose e Papel S.A.

Net Revenue of US$ 315 Million 8% Higher Than Previous Quarter SAO PAULO, Brazil, Jan. 18 /PRNewswire-FirstCall/ -- Votorantim Celulose E Papel S.A. (NYSE:VCP) (Bovespa: VCPA4) -- VCP, one of the largest pulp and paper producers in Latin America, announced today its earnings results for the fourth quarter 2005 (4Q05). Please visit http://www.vcp.com.br/English to access the full release. Key Financial Indicators 4Q05 3Q05 4Q05/3Q05 4Q04 4Q05/4Q04 (in US$ millions) Net Sales Revenue 315 291 8% 278 13% Domestic Sales 167 148 13% 138 21% Exports 148 143 4% 140 6% Operating profit(1) 43 61 (30%) 78 (45%) Net Income 50 60 (17%) 68 (26%) EPS(2) US$ 0.26 0.31 (16%) 0.35 (26%) EBITDA(3) 100 99 1% 106 (6%) (1) Operating income, excluding financial results and equity method (2) Earnings per share (Net income/total outstanding shares ex-treasury), ADR ratio 1:1 (3) Adjusted for the write-off of fixed assets and non-recurring provisions for contingencies and post-retirement benefits Conference Calls English January 20, 2006 Time: 9 a.m. (EST) Tel.: +1 (973) 935-2100 Code: 6888717 Replay: +1 (973) 341 3080 Code: 6888717 Portuguese January 20, 2006 Time: 10 a.m. (EST) Tel.: + (55 11) 2101-1490 Code: VCP Replay: + (55 11) 2101-1490 Code: VCP Investor Relations: Valdir Roque Chief Financial Officer Alfredo F. Villares Investor Relations Manager Andrea Kannebley Natasha Nakagawa Phone: (55 11) 3269-4168 / 4261 /4287 Fax: (11) 3269-4066 http://www.vcp.com.br/ This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of VCP. These are merely projections and, as such, are based exclusively on the expectations of VCP's management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in VCP's filed disclosure documents and are, therefore, subject to change without prior notice. First Call Analyst: FCMN Contact: frederico.monteiro@mz-ir.com DATASOURCE: Votorantim Celulose E Papel S.A. CONTACT: Valdir Roque, Chief Financial Officer, or Alfredo F. Villares, Investor Relations Manager, or Andrea Kannebley, or Natasha Nakagawa, all of Votorantim Celulose E Papel S.A., +011-5511-3269-4168, or +011-5511-3269-4261, or +011-5511-3269-4287, or Fax, +011-5511-3269-4066, or Web site: http:/// http://www.vcp.com.br/

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