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<SEC-DOCUMENT>0000950103-06-001697.txt : 20060705
<SEC-HEADER>0000950103-06-001697.hdr.sgml : 20060704
<ACCEPTANCE-DATETIME>20060705171138
ACCESSION NUMBER:		0000950103-06-001697
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060628
FILED AS OF DATE:		20060705
DATE AS OF CHANGE:		20060705

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ULTRAPAR HOLDINGS INC
		CENTRAL INDEX KEY:			0001094972
		STANDARD INDUSTRIAL CLASSIFICATION:	NATURAL GAS DISTRIBUTION [4924]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14950
		FILM NUMBER:		06945152

	BUSINESS ADDRESS:	
		STREET 1:		AV BRIGADERIO LUIZ ANTONIO 1343
		STREET 2:		9 ANDAR SAO PAULO
		CITY:			SP BRAZIL 01350-900
		STATE:			D5
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		CT CORPORATION SYSTEM
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp03022_6k.htm
<TEXT>
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<P align="center"> <B><FONT size=3 face="Times New Roman, Times, serif">Form 6-K</FONT></B><br>
<font size="3" face="Times New Roman, Times, serif"><B>SECURITIES AND EXCHANGE COMMISSION<br>
  </B></font><font size="2" face="Times New Roman, Times, serif"><B>Washington, D.C. 20549 </B> </font></P>
<P align="center"> <font size="3" face="Times New Roman, Times, serif"><B>Report Of Foreign Private Issuer<br>
  Pursuant To Rule 13a-16 Or 15d-16 Of<br>
  The Securities Exchange Act Of 1934 </B></font></P>
<P align="center"> <FONT size="2" face="Times New Roman, Times, serif">For the
    month of July, 2006</FONT></P>
<P align="center"> <FONT size="2" face="Times New Roman, Times, serif">Commission File Number: 001-14950</FONT><FONT size="3" face="Times New Roman, Times, serif"> </FONT> </P>
<P align="center"></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="center"><font size="3" face="Times New Roman, Times, serif"><B>ULTRAPAR HOLDINGS INC.<br>
      </B></font><font size=1 face="Times New Roman, Times, serif">(Translation of Registrant&#146;s Name into English)</FONT><FONT size=2 face="Times New Roman, Times, serif">&nbsp; </FONT></td>
  </tr>
  <tr>
    <td align="center"><hr align="left" width=100% size=1 noshade color="#000000"></td>
  </tr>
  <tr>
    <td align="center">&nbsp;</td>
  </tr>
  <tr>
    <td align="center"><font size="2" face="Times New Roman, Times, serif"><B>Avenida Brigadeiro Luis Antonio, 1343, 9&ordm;</B> <B>Andar<br>
      S&atilde;o Paulo, SP, Brazil 01317-910<br>
                </B></font><font size=1 face="Times New Roman, Times, serif">(Address of Principal Executive Offices)</FONT></td>
  </tr>
  <tr>
    <td align="center"><hr align="left" width=100% size=1 noshade color="#000000"></td>
  </tr>
</table>
<blockquote>
  <blockquote>
    <p> <FONT size="2" face="Times New Roman, Times, serif">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: </FONT> </p>
  </blockquote>
</blockquote>
<div align=center>
  <table width="50%" border=0 cellpadding=0 cellspacing=0>
    <tr align="center">
      <td width="45%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">Form 20-F <u>&nbsp;&nbsp;X&nbsp;&nbsp; </u></font></td>
      <td width="10%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="200" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">Form 40-F <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
    </tr>
  </table>
</div>
<blockquote>
  <blockquote>
    <p> <FONT size="2" face="Times New Roman, Times, serif">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</FONT> </p>
  </blockquote>
</blockquote>
<div align=center>
  <div align=center>
    <table width="50%" border=0 cellpadding=0 cellspacing=0>
      <tr align="center">
        <td width="45%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
        <td width="10%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
        <td width="45%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">No <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></font></td>
      </tr>
    </table>
  </div>
</div>
<blockquote>
  <blockquote>
    <p> <FONT size="2" face="Times New Roman, Times, serif">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</FONT> </p>
  </blockquote>
</blockquote>
<div align=center>
  <div align=center>
    <table width="50%" border=0 cellpadding=0 cellspacing=0>
      <tr align="center">
        <td width="45%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
        <td width="10%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
        <td width="45%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">No <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></font></td>
      </tr>
    </table>
  </div>
</div>
<blockquote>
  <blockquote>
    <p> <FONT size="2" face="Times New Roman, Times, serif">Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934: </FONT> </p>
  </blockquote>
</blockquote>
<div align=center>
  <div align=center>
    <table width="50%" border=0 cellpadding=0 cellspacing=0>
      <tr align="center">
        <td width="45%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
        <td width="10%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
        <td width="45%" align="left" valign="top"><font size="2" face="Times New Roman, Times, serif">No <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u></font></td>
      </tr>
    </table>
  </div>
</div>
<blockquote>
  <blockquote>
    <p> <FONT size="2" face="Times New Roman, Times, serif">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): <u>N/A</u></FONT></p>
  </blockquote>
</blockquote>
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<PAGE>
<br>
<br>
<P align="center">
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">ULTRAPAR HOLDINGS INC. </FONT></B></P>
<P align="center">
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">TABLE OF CONTENTS </FONT></B></P>
<TABLE border=0 width=95% cellspacing=0 cellpadding=0>
<TR valign="bottom">
        <TD colspan="3" align=left><b><font basesize=2 size=2 baseface="serif" face="serif">ITEM</font></b> </TD>
        <TD width=2%>&nbsp;     </TD>
        <TD width=12% align=center nowrap><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">SEQUENTIAL<br>
          PAGE NUMBER</FONT></B></TD>
</TR>
<TR>
        <TD width="5%" align="left">
<HR noshade size=1>     </TD>
        <TD width="2%"><HR noshade size=1></TD>
        <TD width="79%"><HR noshade size=1></TD>
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</TR>
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        <TD width=5% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">1.</FONT></B>  </TD>
        <TD width=2%>&nbsp;     </TD>
        <TD width=79% align=left>
<B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Minutes of a meeting
of the Board of Directors, June 28, 2006 </FONT></B>       </TD>
        <TD width=2%>&nbsp;     </TD>
        <TD width=12% align=center><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">3</FONT></B>        </TD>
</TR>
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</TR>
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</TR>
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  <TD align=left>&nbsp;</TD>
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  <TD align=center>&nbsp;</TD>
</TR>
</TABLE>
<div align="center"><BR>
</div>
<P align="center">
<FONT BASESIZE=1 size=2 BASEFACE="sans-serif" face="sans-serif">- 2 -</FONT></P>
<br>
<br>
<hr size=3 color=GRAY noshade>
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<PAGE>
<br>
  <br>

<p align="right"><strong>
<font size="2">Item 1</font>
</strong></p>
<p align="center"><B><FONT BASESIZE=2 size=2 BASEFACE="sans-serif" face="sans-serif">ULTRAPAR PARTICIPA&Ccedil;&Otilde;ES S.A.</FONT></B><BR>
  <B><FONT face="serif" size=2>Publicly-Listed Company </FONT></B></p>
<P align="center"> <FONT BASESIZE=2 size=2 BASEFACE="sans-serif" face="sans-serif">CNPJ N&ordm; 33.256.439/0001 - 39&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT BASESIZE=2 size=2 BASEFACE="sans-serif" face="sans-serif">NIRE 35.300.109.724</FONT></P>
<P align="center"> <B><FONT BASESIZE=2 size=2 BASEFACE="sans-serif" face="sans-serif">MINUTES
      OF A MEETING OF THE BOARD OF DIRECTORS  (05/2006)</FONT></B></P>
<P align="left"> <B><FONT BASESIZE=2 size=2 BASEFACE="sans-serif" face="sans-serif">Date, Time and Location: </FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>June 28, 2006 at 2:30 p.m., at Company Headquarters, located at Av. Brigadeiro Luiz Ant&ocirc;nio, n&ordm; 1343 - 9&ordm; andar, in the city and state of S&atilde;o Paulo.</FONT></P>
<P align="left">
<B><FONT BASESIZE=2 size=2>Present:</FONT></B><br>
<FONT BASESIZE=2 size=2>Members
of the Board of Directors, whose signatures appear below, and Mr. Fl&aacute;vio C&eacute;sar
Maia Luz, member of the Fiscal Council.</FONT></P>
<P align="left">
<B><FONT BASESIZE=2 size=2>Deliberations:</FONT></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
	<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>1.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=90% align="left" valign="top">
<FONT BASESIZE=2 size=2>To authorize the Company to act as a guarantor in the financing credit line from the Brazilian National Social and Economic Development Bank &#150; BNDES, up to a limit of R&#36; 728,000,000.00 (seven hundred and twenty-eight
million reais), referring to the Group&#146;s Multi-Annual Investment Plan for the next five years, to be distributed as follows :</FONT>	</TD>
</TR>
<TR>
  <TD align="left" valign=top nowrap>&nbsp;</TD>
  <TD align="left" valign=top nowrap>&nbsp;</TD>
  <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR>
  <TD align="left" valign=top nowrap>&nbsp;</TD>
  <TD align="left" valign=top nowrap>&nbsp;</TD>
  <TD align="left" valign="top">
<UL type="square">
<LI>
<FONT BASESIZE=2 size=2>Companhia Ultragaz S.A. &#150; amount approved according to Decision</FONT> <FONT BASESIZE=2 size=2>N&ordm;470/2006 &#150; BNDES, of R&#36; 159,247,070.00 (one hundred fifty-nine</FONT> <FONT BASESIZE=2 size=2>million, two
hundred and forty-seven thousand and seventy reais);</FONT><br>
<br>
</LI>
<LI>
<FONT BASESIZE=2 size=2>Bahiana Distribuidora de G&aacute;s Ltda. &#150; amount approved according to</FONT> <FONT BASESIZE=2 size=2>Decision n&ordm;471/2006 &#150; BNDES, of R&#36; 32,891,520.00 (thirty-two million,</FONT> <FONT BASESIZE=2
size=2>eight hundred and ninety-one thousand five hundred and twenty reais);</FONT><br>
<br>
</LI>
<LI>
<FONT BASESIZE=2 size=2>Oxiteno S.A. Ind&uacute;stria e Com&eacute;rcio &#150; amount approved by Decision</FONT> <FONT BASESIZE=2 size=2>n&ordm;472/2006 &#150; BNDES, of R&#36; 134,665,060.00 (one hundred thirty-four</FONT> <FONT BASESIZE=2
size=2>million, six hundred sixty-five thousand and sixty reais);</FONT><br>
<br></LI>
<LI>
<FONT BASESIZE=2 size=2>Oxiteno Nordeste S/A Ind&uacute;stria e Com&eacute;rcio &#150; amount approved by</FONT> <FONT BASESIZE=2 size=2>Decision n&ordm;473/2006 &#150; BNDES, of R&#36; 262,904,220.00(two hundred sixty-</FONT> <FONT BASESIZE=2
size=2>two million, nine hundred four thousand two hundred and twenty reais);</FONT><br>
<br>
</LI>
<LI>
<FONT BASESIZE=2 size=2>Oleoqu&iacute;mica Ind&uacute;stria e Com&eacute;rcio de Produtos Qu&iacute;micos Ltda. &#150;amount</FONT> <FONT BASESIZE=2 size=2>approved by Decision n&ordm;474/2006 - BNDES, of R&#36; 14,136,190.00</FONT> <FONT BASESIZE=2
size=2>(fourteen million, one hundred thirty-six thousand one hundred and</FONT> <FONT BASESIZE=2 size=2>ninety reais);</FONT><br>
<br></LI>
<LI>
<FONT BASESIZE=2 size=2>Terminal Qu&iacute;mico de Aratu S.A. &#150; Tequimar &#150;amount approved by</FONT> <FONT BASESIZE=2 size=2>Decision n&ordm;475/2006 - BNDES, of R&#36; 91,510,080.00 (ninety-one million,</FONT> <FONT BASESIZE=2 size=2>five
hundred ten thousand and eighty reais);</FONT><br>
<br>
</LI>
<LI>
<FONT BASESIZE=2 size=2>Transultra Armazenamento e Transporte Especializado Ltda. &#150;amount</FONT> <FONT BASESIZE=2 size=2>approved by Decision n&ordm;476/2006 &#150; BNDES, of R&#36; 32,565,860.00 (thirty-</FONT> <FONT BASESIZE=2 size=2>two
million, five hundred sixty-five thousand, eight hundred sixty reais).</FONT><br>
</LI>
</UL>
</TD>
</TR>
</TABLE>

<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD nowrap valign=top>&nbsp;</TD>
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	<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>2.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=90% align="left" valign="top">
<FONT BASESIZE=2 size=2>To approve the alteration to the &#147;Code of Ethics&#148;, adopted as a reference for behavior within the company and its subsidiaries, in accordance with the document annexed below.</FONT>	</TD>
</TR>
</TABLE>
<BR>

<br>
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<FONT BASESIZE=2 size=2>3.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=90% align="left" valign="top">
<FONT BASESIZE=2 size=2>To approve the carrying out, by the Executive Board, of all the actions necessary and the signature of all the documents required, referring to the decisions contained in these minutes.</FONT>	</TD>
</TR>
</TABLE>
<blockquote>
  <p align="left">
    <FONT BASESIZE=2 size=2>Observation :  (i)  These deliberations were approved by all those present, except for Board Member Renato Ochman, who abstained from voting.</FONT></p>
</blockquote>
<P align="left">
<FONT BASESIZE=2 size=2>There being no further business to discuss, the meeting was closed and the minutes of this meeting being hereby set out, read and approved by all the undersigned Board or Fiscal Council members present. </FONT></P>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
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	<TD width=50% align=left nowrap>
<B><FONT BASESIZE=2 size=2>Paulo Guilherme Aguiar Cunha</FONT></B>	</TD>
	<TD width=50% align=left nowrap>
<B><FONT BASESIZE=2 size=2>Lucio de Castro Andrade Filho</FONT></B>	</TD>
</TR>
<TR valign="bottom">
	<TD width=50% align=left nowrap>
<FONT BASESIZE=2 size=2>Chairman</FONT>	</TD>
	<TD width=50% align=left nowrap>
<FONT BASESIZE=2 size=2>Vice President</FONT>	</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR valign="bottom">
	<TD width=100% align=left nowrap>
<B><FONT BASESIZE=2 size=2>Ana Maria Levy Villela Igel - </FONT></B><FONT BASESIZE=2 size=2>Board Member</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=100% align=left nowrap>
<B><FONT BASESIZE=2 size=2>Paulo Vieira Belotti &#150; </FONT></B><FONT BASESIZE=2 size=2>Board Member</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=100% align=left nowrap>
<B><FONT BASESIZE=2 size=2>Renato Ochman &#150; </FONT></B><FONT BASESIZE=2 size=2>Board Member</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=100% align=left nowrap>
<B><FONT BASESIZE=2 size=2>Nildemar Secches &#150; </FONT></B><FONT BASESIZE=2 size=2>Board Member</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
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	<TD width=100% align=left nowrap>
<B><FONT BASESIZE=2 size=2>Olavo Egydio Monteiro de Carvalho &#150; </FONT></B><FONT BASESIZE=2 size=2>Board Member</FONT>	</TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=100% align=left nowrap>
<B><FONT BASESIZE=2 size=2>Fl&aacute;vio C&eacute;sar Maia Luz &#150; </FONT></B><FONT BASESIZE=2 size=2>Fiscal Council Member</FONT>	</TD>
</TR>
</TABLE>
<BR>

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<P align="center">
<B><FONT BASESIZE=2 size=2>Annex I of the minutes of the Meeting of the Board of Directors of Ultrapar <br>
Participa&ccedil;&otilde;es S.A., held on June 28, 2006</FONT></B></P>
<P align="center">
<B><FONT BASESIZE=2 size=2> &#147;Code of Ethics of Ultrapar Participa&ccedil;&otilde;es"</FONT></B></P>
<P align="left">
<B><FONT BASESIZE=2 size=2>This Code of Ethics sets out the principles adopted by Ultrapar Participa&ccedil;&otilde;es S.A. (&#147;Ultrapar&#148;) and its subsidiaries (together denominated &#147;Company&#148;) as a reference for behavior standards.
</FONT></B></P>
<P align="left">
<B><FONT BASESIZE=2 size=2>Objectives of the Code of Ethics </FONT></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(i)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>To reduce the subjectivity of personal interpretations of ethical principles.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(ii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>To be a formal and institutional benchmark for the professional conduct of the employees, including the ethical handling of actual or apparent conflicts of interests, becoming a standard for the internal and external
relationship of the Company with its stakeholders, namely: shareholders, clients, employees, partners, suppliers, service providers, labor unions, competitors, society, government and the communities in which it operates.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(iii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>To ensure that the daily concerns with efficiency, competitiveness and profitability do not override ethical behavior.</FONT>	</TD>
</TR>
</TABLE>
<P align="center">
<B><FONT BASESIZE=2 size=2>Scope</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>This Code covers members of the Board of Directors, members of the Fiscal Council, all employees and interns of Ultrapar and its subsidiaries, third-parties hired by the Company, all of whom from henceforth, to be denominated
as &#147;Professionals&#148;.</FONT></P>
<P align="center">
<B><FONT BASESIZE=2 size=2>Ethical Principles</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>In the exercise of his/her position or function, each Professional shall:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(i)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Maintain a posture of honesty, integrity, respect, loyalty, propriety, conscientiousness, efficiency, transparency and impartiality, which shall guide their relations with the Company and its stakeholders.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(ii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Avoid involvement in transactions and activities that might compromise his/her professional dignity or harm his/her public image as well as that of Ultrapar.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(iii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Carry out his/her professional activities with competence and diligence, seeking to constantly improve his/her performance from a technical perspective, to remain permanently up to date, and encourage all those involved in
the activity to adopt the same conduct.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(iv)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Behave strictly in a professional and impartial manner in the way he/she treats the public.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(v)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Seek to maximize the value creation for the Company.</FONT>	</TD>
</TR>
</TABLE>
<P align="center">
<B><FONT BASESIZE=2 size=2>Labor Practices</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>In the relationship with managers and other Professionals, each Professional shall:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(i)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Use qualifications (for example, educational background, experience, competence, etc.) as a basis for making decisions related to work which affect employees and job applicants.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(ii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Avoid using his/her professional position to obtain favors from or the personal services of subordinates.</FONT>	</TD>
</TR>
</TABLE>

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<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD width="5%" valign=top nowrap>
<FONT BASESIZE=2 size=2>(iii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Display leadership, maintaining a culture in which ethical conduct is recognized, valued and taken as an example for all employees.</FONT>	</TD>
</TR>
</TABLE>
<P align="center">
<B><FONT BASESIZE=2 size=2>Compliance with Laws, Rules and Regulations</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>Each Professional shall:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(i)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Comply with the laws, rules and regulations applicable to the Company&#146;s businesses and to generally applicable commercial business practices.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD nowrap valign=top>
<FONT BASESIZE=2 size=2>(ii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95%>
<FONT BASESIZE=2 size=2>Respect the accounting principles, the laws and regulations for booking transactions and issuing precise financial reports that truly reflect the reality of the Company.</FONT>	</TD>
</TR>
</TABLE>
<P align="center">
<B><FONT BASESIZE=2 size=2>Guarantee of Quality and of Proper Use of Information</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>Each Professional shall:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" align="left" valign=top nowrap><FONT BASESIZE=2 size=2>(i)</FONT>&nbsp; &nbsp; &nbsp; </TD>
	<TD width=95% align="left" valign="top"><font basesize=2 size=2>Ensure that all internal processes
        are subject to rigorous controls which shall guarantee the precise accounting
        of the operations of the Company, thus guaranteeing that all management
        decisions are based on solid economic analyses, and that the physical
    and financial assets of the Company are efficiently employed;</font> </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(ii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Maintain the confidentiality of the information and activities relating to the work in the area where he/she is employed, the use of such information to further his/her own interests or those of third parties being
forbidden;</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(iii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Ensure the veracity of the information that is disclosed internally or externally by the Company with a view to maintaining a relationship of respect and transparency with its stakeholders.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(iv)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Ensure that our reports and documents filed with or submitted to the Comiss&atilde;o de Valores Mobili&aacute;rios, the United States Securities and Exchange Commission and other public regulatory authorities and other public
communications shall include full, fair, accurate, timely and understandable disclosure.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(v)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Ensure that all transactions registered in the Company&#146;s books be precise, complete, truthful and detailed, being dully supported by lawful documentation in accordance with the Company&#146;s internal procedures,
applicable laws and generally accepted accounting principles so as to ensure the quality of the Company&#146;s financial statements.</FONT>	</TD>
</TR>
</TABLE>
<P align="center">
<B><FONT BASESIZE=2 size=2>Use of Non-Public Information and Disclosure</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>Each Professional holding important information about the Company that has not been disclosed to the public shall:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(i)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Maintain the confidentiality of such information, except when disclosure is authorized or legally mandated.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(ii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Prevent him/herself from buying or selling securities using important non-public information obtained in the performance of their duties on behalf of the Company and providing any such information so obtained to
others.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(iii)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Adhere to the policy on Material Information, which establishes the procedure to be followed in relation to the announcement of Material Information or Facts and with respect to the trading of securities issued by Ultrapar,
should the Professional occupy any position exposed to privileged information about the Company.</FONT>	</TD>
</TR>
</TABLE>
<P align="center">
<B><FONT BASESIZE=2 size=2>Conflicts of Interest</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>Each Professional has an obligation to conduct him or herself in an honest and ethical manner and act in the best interest of the Company.</FONT></P>

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<P align="left">
<FONT BASESIZE=2 size=2>Each Professional should endeavor to avoid situations that present a potential or actual conflict between their interest and the interest of the Company.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2>Each Professional shall:</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
	<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(iv)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Refuse, in the exercising of his/her professional duties, any type of financial aid, gratification, commissions, donations, or advantages of any kind for him/herself, family members or any other person.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(v)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>Avoid the improper use of resources, intellectual property, time and installations of the Company.</FONT>	</TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
	<TD width="5%" align="left" valign=top nowrap>
<FONT BASESIZE=2 size=2>(vi)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=95% align="left" valign="top">
<FONT BASESIZE=2 size=2>When making his/her personal investments, avoid conflicts of interest in relation to the activities in which he/she is engaged.</FONT>	</TD>
</TR>
</TABLE>
<P align="center">
<B><FONT BASESIZE=2 size=2>Compliance with this Code of Ethics and notification of unethical behavior</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>In the event that an actual or apparent conflict of interest arises involving the personal or professional relationships or activities of a Professional, the Professional involved is required to handle such conflict of
interest in accordance with the ethical principles defined in this Code of Ethics.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2>It is the responsibility of each Professional to consult the Ethics Committee of Ultrapar, defined below, regarding (i) any action that may involve a conflict of interest and  (ii) any case of doubt as to the most appropriate
behavior in situations provided for under this Code of Ethics. </FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2>Furthermore it is the responsibility of each Professional to immediately notify Ultrapar&#146;s Ethics Committee of any situations, which are unethical, illegal, irregular or questionable, of which they have knowledge, the
information source being assured of confidentiality.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2>Any notification to the Ethics Committee shall be made either by telephone, through the number 0800 701 7172, or by e-mail - comitedeetica@ultra.com.br.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2>The Company encourages all Professionals to report any suspected violations promptly. The name of the Professional and confidentiality of the case will be guaranteed.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2>The Ethics Committee will thoroughly investigate any good faith reports of violations to this Code of Ethics and will not tolerate any kind of retaliation for reports or complaints regarding misconduct that were made in good
faith.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2>Each Professional is required to cooperate in internal investigations of misconduct and unethical behavior.</FONT></P>
<P align="left">
<FONT BASESIZE=2 size=2>The Ethics Committee of Ultrapar will be formed by 4 members: the Vice-President, the Investor Relations Officer, an external counsel and a rotating member which shall be the main executive of the business to which the
potential unethical, illegal or questionable situation is related.</FONT></P>
<P align="center">
<B><FONT BASESIZE=2 size=2>Accountability for adherence to the Code of Ethics</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>All Professionals are responsible for abiding by this Code. This includes individuals responsible for the failure to exercise proper supervision and to detect and report a violation by their subordinates.</FONT></P>
<P align="center">
<B><FONT BASESIZE=2 size=2>Penalties</FONT></B></P>
<P align="left">
<FONT BASESIZE=2 size=2>Any Professional who infringes the Company&#146;s ethical principles or this Code of Ethics shall be subject to disciplinary measures that may result in dismissal and legal proceedings in case of any violation of the
law.</FONT></P>



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<P align="center"> <B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">SIGNATURES</FONT></B></P>
<P align="left"> <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></P>
<table width="95%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td colspan="3"><B><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">ULTRAPAR HOLDINGS INC.</FONT></B> </td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td width="4%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td width="6%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td width="40%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
  </tr>
  <tr>
    <td><font size=2 face="Times New Roman, Times, serif">Date:</font></td>
    <td><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">July 5, 2006</FONT></td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp; </td>
    <td width="4%"><font size="2" face="Times New Roman, Times, serif">By:</font></td>
    <td colspan="2"><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">/s/
              F&aacute;bio
          Schvartsman</FONT></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td width="4%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td colspan="2"><hr align="left" width=65% size=1 noshade color="#000000"></td>
  </tr>
  <tr>
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td colspan="3"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font><font size="2" face="Times New Roman, Times, serif">Name: </font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">F&aacute;bio Schvartsman</FONT> </td>
  </tr>
  <tr valign="top">
    <td width="5%">&nbsp;</td>
    <td width="45%">&nbsp;</td>
    <td colspan="3"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font><font size="2" face="Times New Roman, Times, serif">Title: </font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Chief Financial and Investor Relations Officer</FONT> </td>
  </tr>
</table>
<P align="left">&nbsp;</P>
<BR>
<P align="left"> <I><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">(Minutes
      of a meeting of the Board of Directors, June 28, 2006) </FONT></I></P>
<P align="center">&nbsp;</P>

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