Fibria announces it has preventively renegotiated its covenants with creditor financial institutions

SAO PAULO , December 23, 2011 (press release) – FIBRIA CELULOSE S.A. (“Fibria” or “Company”) (BM&FBOVESPA:FIBR3 | NYSE:FBR), in compliance with article 157, § 4 of Law no. 6.404/76 and CVM Instruction no. 358/2002, hereby announces that, due to recent volatility, it preventively renegotiated its covenants with creditor financial institutions such as to increase the maximum leverage limits for the periods of December 31, 2011, March 31 and June 30, 2012. The new limits were set at levels resilient to stress scenarios.

Finally, the Company announces that said renegotiation was concluded in a satisfactory manner to its creditors in a spirit of reciprocity and without the incidence of a waiver fee or increased interest.

The Company, in line with its commitment to transparency with the market, will disclose more information regarding the renegotiation of covenants when it discloses its annual results for the 2011 fiscal year on February 1, 2012, after the close of the market (Bovespa and NYSE).

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