2Q08 Results Presentation

1. 11
2Q08 Results

2. 2
2Q08 Results Conference Call
Heitor Cantergiani
CEO
 Overall Outlook
 Main Operating and Financial Highlights
Leonardo Diniz
Sales Officer
 Launches and Sales
 Economic Segment
 Geographical Expansion
Gerson Cohen
Controller
 2Q08 Performance
 Margin Analysis
 Indebtedness
Agenda

3. 3
Heitor Cantergiani
Overall Outlook
2Q08 Results Conference Call

4. 4
Launches
2Q08: R$ 1,085 million in 18 projects
1H08: R$ 1,353 million in 23 projects
Contracted Sales
2Q08: R$ 711 million in 2,819 units
1H08: R$ 1,127 million in 4,430 units
Margin recovery in 2Q08 (gross margin of 39.7% and EBITDA margin of 16.0%)
Economic Segment
R$ 264 million launched in 8 projects
R$ 500 million in the pipeline to be launched in 2008
R$ 4.4 billion land bank
Land bank
R$ 16.3 million PSV, of which 72% in swaps
Accounting Practices in line with International Standards
Awards – Magazine Isto É Dinheiro
Best Company in Corporate Governance Management in general category
Best Company in HR Management in the engineering and construction sector
Overall Outlook
2Q08 Results Conference Call

5. 5
Leonardo Diniz
PSV, Sales, Geographical Expansion
2Q08 Results Conference Call

6. 6
2Q08 - 18 projects:
Launches
2Q07 2Q08
Rossi
776
309
401
92
Launches Breakdown by Price Segment and State in 1H08
120%
1H08 - 23 projects
Partners
1H07 2H08
811
954
399142
42%
Campinas, Florianópolis, Fortaleza, Guarulhos, Juiz de Fora, Mogi das Cruzes, Belo Horizonte,
Novo Hamburgo, Porto Alegre, Recife, Rio de Janeiro, São Paulo, SJ Rio Preto, Vila Velha.
Launches 1H08 (R$ million)
47%
24%
9%
7%
7%
6% > R$ 500,000
Affordable Segment
R$ 200,000 to R$ 350,000
< R$ 200,000
Commercial
R$ 350,000 to R$ 500,000
26%
23%
10%
10%
8%
6%
5%
5%
4% 3%
São Paulo (metropolitan region)
São Paulo (other cities)
Ceará
Rio Grande do Sul
Minas Gerais
Rio de Janeiro
Espírito Santo
Rio Grande do Norte
Santa Catarina
Pernambuco
493
1,085
953
1,353
2Q08 Results Conference Call

7. 7
Contracted Sales Breakdown by Price Segment and State in 1H08
1,127
2Q08
Rossi
533
247
17871
124%
Partners
1H07 2H08
534
846
281
159
63%
Contracted Sales (R$ million)
27%
25%
15%
14%
13%
6% > R$ 500,000
R$ 200,000 - R$ 350,000
R$ 350,000 - R$ 500,000
Affordable Segment
< R$ 200,000
Commercial
26%
22%
19%
10%
9%
5%
4%
5%
São Paulo (metropolitan region)
São Paulo (other cities)
Rio Grande do Sul
Rio de Janeiro
Espírito Santo
Ceará
Rio Grande do Norte
Paraná, Minas Gerais, Pernambuco and
Santa Catarina
318
711 693
2Q07
2Q08 Results Conference Call

8. 1H08
Launches: R$ 264 million
3 Buildings
5 Residencial Plazas
Contracted Sales: R$ 126 million
2H08
Projects: approximately R$ 500 million in PSV, 28 projects and 5,000 units
6 Buildings
15 Residencial Plazas
7 condominium in 2 Villa Flora’s community
Villa Flora Plazas Buildings
8
Affordable
Segment
2Q08 Results Conference Call

9. 9
Potential PSV (100%): R$ 16.3 billion
Rossi’s Share: R$ 11.8 billion
Land bank PSV in R$ million
2Q08
Total
Total Rossi
16,271 11,763
Breakdown
Launches PSV 2Q08
Final 1Q08
Origination 1Q08
Final 2Q08
15,247
(1,085)
2,109
16,271
10,684
(776)
1,854
11,763
Acquisition Method
Land Bank distributed in 138 lands in 53 cities,
not concentrated.
13.2 million m2 buildable area
future launches (in units) – 87,816
4 to 5 years PSV in the bag for future launches
Land Bank
Swap by unit
46%
Financial
Swap
26%
Cash
28%
Partners
Rossi
9.6 10.1
4.0 4.6
0
4
8
12
16
3Q07 4Q07
10.7
4.6
1Q08
11.8
4.5
2Q08
R$ billion
2Q08 Results Conference Call

10. 10
Land Bank : Potencial PSV
Land Bank 2Q08 (in R$ million) - PSV by Region and by Segment
State Affordable
Segment
R$ 120,000
to
R$ 200,000
R$200,000
to
R$350,000
R$350,000
to
R$500,000
>
R$500,000
Commercial Lots Total %
Bahia 75 322 1,053 152 - - - 1,603 10%
Ceará 323 - - 104 - - - 428 3%
Distrito Federal - 63 46 - - 242 - 351 2%
Espírito Santo 368 - 36 - 62 102 - 595 4%
Goiás 797 43 - - - - - 840 5%
Mato Grosso do Sul 53 - - - - - - 53 0%
Minas Gerais 134 85 - - 248 - - 467 3%
Paraná 90 - - - 122 111 - 323 2%
Rio de Janeiro 35 165 1,242 195 180 - - 1,817 11%
Rio Grande do Norte 134 - 70 - - - - 205 1%
Rio Grande do Sul 1,855 87 474 823 - - - 3,239 20%
São Paulo
(metropolitan region)
673 86 355 771 974 176 224 3,259 20%
São Paulo
(other cities)
729 203 1,036 400 82 4 639 3,092 19%
Total 5,295 1,055 4,312 2,445 1,666 635 863 16,272 100%
Distribuition 33% 6% 27% 15% 10% 4% 5% 100%
2Q08 Results Conference Call
Focus on low to middle income segments – 66% PSV < R$ 350,000

11. 11
Geographical Presence
53 Cities 14 States
PE
RN
PB
RS
PR
SP
MG
RJ
ES
BA
SC
CE
GO
MS
AM
PA MA
AL
AC
RR
AP
RO
TO
PI
MA SE
Regional São Paulo
(RSP)
São Paulo
Cotia
Guarujá
Guarulhos
Jacareí
Mogi das Cruzes
Osasco
Praia Grande
Santana de Parnaíba
Santo André
Santos
São Bernardo do Campo
São Caetano do Sul
São José dos Campos
São Paulo
Mato Grosso do Sul
Campo Grande
Regional Belo Horizonte
(RBH)
Minas Gerais
Belo Horizonte
Nova Lima
Uberlândia
Distrito Federal
Brasília
Águas Claras
Goiás
Goiânia
Regional Sul (RPOA)
Paraná
Curitiba
Santa Catarina
Florianópolis
Rio Grande do Sul
Canoas
Novo Hamburgo
Porto Alegre
São Leopoldo
Regional Rio de Janeiro
(RRJ)
Rio de Janeiro
Niterói
Rio de Janeiro
Volta Redonda
Espírito Santo
Serra
Vila Velha
Vitória
Minas Gerais
Juiz de Fora
Bahia
Lauro de Freitas
Salvador
Regional Nordeste
(RNE)
Ceará
Fortaleza
Pernambuco
Recife
Rio Grande do Norte
Natal
Regional Oeste Paulista
(ROP)
São Paulo
Marília
Ribeirão Preto
São Carlos
São José do Rio Preto
Regional Campinas
(RCPS)
São Paulo
Campinas
Hotolândia
Indaiatuba
Jaguariúna
Paulínia
Piracicaba
Sorocaba
Sumaré
Valinhos
Votorantim
2Q08 Results Conference Call
Long Term Sustainable Competitive Advantage: Building up Local Know-How

12. 12
Gerson Cohen
2Q08 Results Conference Call
Operating Performance

13. 66.0
115.5 122.6
180.6
2Q07 2Q08 1H07 1H08
176.1
291.1
342.9
496.6
2Q07 2Q08 1H07 1H08
13
Financial Highlights (R$ million)
Net Revenue Gross Income and Gross Margin
37.5%
39.7%
35.8%
36.4%
Unearned Revenue and Results Jun/08 Mar/08 Var.
Unearned Revenue 1,460.8 1,165.7 25.3%
Unearned Results 506.0 409.0 23.7%
Backlog gross margin 34.6% 35.1% -0.5 p.p.
65%
45%
47%
75%
2Q08 Results Conference Call

14. 14
Gross Margin Breakdown and Performance
Net Operating Revenue
(R$ million)
2Q08 2Q07 Var. 1H08 1H07 Var.
Sale of property and services 273 167 63% 469 336 39%
Monetary Variation (INCC) 30 14 118% 46 17 172%
(-) Taxes over sales (12) (5) 146% (19) (10) 82%
Total 291 176 65% 497 343 45%
Construction works + lands 166 106 57% 299 212 41%
Financial Charges 10 5 110% 17 9 97%
Total 176 110 59% 316 220 43%
Gross MG 39.7% 37.5% 2.2 p.p 36.4% 35.8% 0.6 p.p.
Adjusted Gross Mg (-) Finan. Charges 43.0% 40.1% 2.9 p.p. 39.8% 38.3% 1.5 p.p.
Adjusted Gross Mg (-) Finan. Charges (-) INCC 36.4% 35.0% 1.4 p.p. 33.6% 35.0% -1.5 p.p.
Adjusted Gross Mg (-) INCC 32.8% 32.2% 0.6 p.p. 29.8% 32.4% -1.5 p.p.
2Q08 Results Conference Call

15. 36.6
46.6
62.2
67.9
2Q07 2Q08 1H07 1H08
15
Financial Highlights (R$ million)
EBITDA and EBITDA Margin Net Income and Net Margin
35.0
50.8
63.4
71.1
2Q07 2Q08 1H07 1H08
20.8%
16.0%
18.1%
13.7%
19.9%
17.4%
18.6%
14.3%
EBITDA 2Q08 2Q07 Var. 1H08 1H07 Var.
Operating Income (Loss) 56 42 33% 81 77 5%
(+) Depreciation and Amortization 0 0 43% 1 1 41%
(+/-) Financial Expenses (Revenues) (15) (8) 100% (24) (18) 31%
(+) Financial Charges 10 5 110% 17 9 97%
(-) Profit sharing (4) (3) 61% (6) (5) 20%
EBITDA 47 37 27% 68 62 9%
EBITDA Margin 16.0% 20.8% -4.8 p.p. 13.7% 18.1% -4.5 p.p.
45%
11%
27%
9%
2Q08 Results Conference Call

16. 16
Total Debt: R$ 623.3 million
Cash Position: R$ 134.2 million
Net Debt: R$ 489.1 million
Shareholders’ Equity: R$ 1,135.1 million
Indebtedness
Cash and Banks
Investments - ST
Investments - LT
Linha Stand by Bradesco R$ 100 million
Debentures R$ 300 million
17%
35%
48%76%
23%
1%
Construction
Financing - LT
Debentures
Construction
Financing - ST
Working Capital
51% 18%
15%
16%
2Q08 Results Conference Call

17. 17
2Q08 Results Conference Call
Share Performance

18. 18
Analyst Coverage
Institution Analist Contact
UBS Pactual
Guilherme Vilazante
Gordon Lee
guilherme.vilazante@ubs.com
gordon.lee@ubs.com
Credit Suisse Marcelo Telles
Vanessa Quirog
marcelo.telles@credit-suisse.com
vanessa.quiroga@credit-suisse.com
Bradesco Carlos Firetti
Marcos Suzaki
5900.cfiretti@bradesco.com.br
5900.marcos@bradesco.com.br
JP Morgan Adrian Huerta
Somesh Agarwal
adrian.huerta@jpmorgan.com
somesh.k.agarwal@jpmorgan.com
Bulltick Rafael Pinho rpinho@bulltick.com
Santander Marcello Milman
Gonzalo Fernández
mmilman@santander.com.br
gofernandez@santander.com.mx
BB Investimentos Antonio Emilio Ruiz antonioemilio@bb.com.br
Unibanco Carlos Macedo carlos.macedo@unibanco.com.br
Merrill Lynch Alexandre Miguel
Carlos Peryrelongue
Esteban Polidura
alexandre_miguel@ml.com
carlos_peryrelongue@ml.com
estaban_polidura@ml.com
Deutsche Bank Dan McGoey
Michelle Dorea
dan.mcgoey@db.com
michelle.dorea@db.com
Citigroup Cecília del Castilio
Rodrigo Villanueva Bravo
cdelcastillo@accival.com.mx
rvillanueva@accival.com.mx
Banco Fator Renato Pinto rpinto@bancofator.com.br
Itaú Tomas Awad tomas.awad@itau.com.br
Goldman Sachs Jason B. Mollin jason.molin@gs.com
Raymond James Conrado Vegner conrado.vegner@raymondjames.com
2Q08 Results Conference Call

19. 19
2Q08 Results Conference Call
IR Team
Sergio Rossi Cuppoloni
Investor Relations Officer
Maria Claudia Biolchini
Investor Relations Manager
mariabiolchini@rossiresidencial.com.br
Ph. (55 11) 3759-7516

20. 20
2Q08 Results Conference Call
Disclaimer
This material is a presentation of general background information about Rossi Residencial S.A. (“Rossi”) as of the date of this
presentation. Information contained herein has been summarized and does not purport to be complete. This presentation shall not be
considered an advice of investment by potential investors. This presentation is strictly confidential and may not be disclosed to any third
person. There are no representations or warranties, express or implied, regarding the accuracy, fairness, or completeness of the
information presented herein, which shall not support any decision of investment.
This presentation contains statements and information that are forward-looking pursuant section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities and Exchange Act of 1934. Such forward-looking statements and information are only
predictions and cannot assure Rossi´s future performance. Investors have been cautioned that any such forward-looking statements and
information are subject to many risks and uncertainties relating to the operations and business of Rossi and its subsidiaries. As a result of
such risks and uncertainties, the actual results of Rossi and its subsidiaries may be materially different from any future result expressed
or implied in the forward-looking statement or information contained herein.
Although Rossi believes that the expectations and assumptions reflected in the forward-looking statements and information are
reasonable and have been based on data currently available to its officers and directores, Rossi cannot guarantee future results or
events. Rossi does not assume the commitment of update any of the forward-looking statement of information.
Securities may not be offered or sold in the United States unlesss they are registered or exempt from registration under the Securities Act
of 1933, as amended. Any offering of securities to be made in the United States will be made by means of an offering memorandum that
may be obtained from the underwriters. Such offering memorandum will contain, or incorporate by reference, detailed information about
Rossi and its subsidiaries, their business and financial results, as well as its financial statements.
This material is for distribution only to person who (i) have professional experience in matters relating to investments falling within Article
19 (5) of the Financial Services and Markets Act of 2000 (Financial Promotion) Order 2005 (as amended, the “Financial Promotion
Order”), (ii) are persons falling within Article 49 (2) (a) to (d) (“high net worth companies, unincorporated associations etc”) of the
Financial Promotion Order, (iii)a are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in
investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale
of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as
“relevant persons”). This material is directed only at relevant persons and must not be acted on or relied on by persons who are not
relevant persons. Any investment or investment activity to which this material relates is available only to relevant persons and will be
engaged in only with relevant persons.
This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any
securities. Neither this presentation nor anything contained herein shall form the basis of any contract or commitment
whatsoever.

21. 21