4Q08 Results Presentation

Investor
Relations
2008 Results

2
Disclaimer
2008 Results Conference Call
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 directors, 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) 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, invitation or solicitation of an offer to subscribe to or purchase any securities.
Neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever.

3
Heitor Cantergiani
CEO
Main Highlights of the Period
Leonardo Diniz
Sales Officer
Launches and Sales
Cássio Audi
CFO and IRO
Financial Performance
Agenda

5
Main Highlights
 Excellent results and record sales
 R$ 119 million income (new law 11,638) – 61% increase over 2007.
 R$ 2.2 billion contracted sales – 38% increase over 2007.
 Present in 61 cities, 15 Brazilian states
 Entering promising markets: Midwest and Northeast regions
 R$ 20.3 billion land bank for future launches, 77% acquired by swaps
 R$ 8.3 billion in the Economic Segment
 Rossi Vendas, reached R$ 210 million sales in 2008
 Currently operating in São Paulo, Rio de Janeiro, Porto Alegre and Campinas – 73% increase in
comparison to 2007.
 Hiring new CFO and installing strategic committees
 R$ 150 million capitalization in 4Q08 improving the capital structure.
 Experience in challenging scenarios.

1,981 2,045
489
678
2007 2008
Partners
Rossi
+ 10%
2,470
2,723
Nossos Resultados em Números
Launches
Launches Breakdown by Income Segment – 2008
Launched PSV (R$ million)
7
35%
26%
14%
12%
9%
5% > R$ 500,000
Economic Segment
Commercial
R$ 350,000 - R$ 500,000
R$ 200,000 - R$ 350,000
< R$ 200,000

22%
20%
10%8%
7%
7%
7%
7%
5%
3%
2%
1% 1% São Paulo (other cities)
São Paulo (metro. region)
Rio de Janeiro
Paraná
Bahia
Ceará
Espírito Santo
Rio Grande do Sul
Minas Gerais
Rio Grande do Norte
Pernambuco
Santa Catarina
Goiás
8
Launches Breakdown
By State – 2008
Nossos Resultados em Números2008 Results Conference Call

9
Elegance Garibaldi – Salvador
Launch: Jul/08
PSV Rossi – R$ 122 million
Qtd – 372
Average price/m2: R$ 3,500
% sold Feb.09: 98%
Villa Flora - Votorantim
Launch: Dec/08
Qtd - 140
Average price/m2 : R$ 1,600
% sold Feb.09: 56%
Villa Flora - Hortolândia
Launch: Dec/08
Qtd - 180
% sold Feb.09: 96%
Solar Alta Vista - Natal
Launch: Feb/08
Qtd - 135
% sold Feb.09: 92%
Launches: Highlights of 2008
Rossi Viva
Launch: Oct/08
Qtd - 174
% sold Feb.09: 98%

1,252
1,660
326
516
2007 2008
Partners
Rossi
+ 38%
1,578
2,176
Sales
Sales Breakdown by Income Segment – 2008
10
Contracted Sales (R$ million)
25%
22%
21%
17%
8%
7%
> R$ 500,000
Economic Segment
R$ 350,000 - R$ 500,000
R$ 200,000 - R$ 350,000
< R$ 200,000
commercial

11
24%
19%
15%
12%
10%
9%
7%
2%
1%
São Paulo (metro. region)
São Paulo (other cities)
Rio Grande do Sul
Ceará
Rio de Janeiro
Espírito Santo
Rio Grande do Norte
Paraná
Minas Gerais
Bahia
Pernambuco
Santa Catarina
Sales Breakdown
By State – 2008

Accumulated SOS 3M 6M 9M 12M
15% 32% 44% 50%
Sales Over Supply (SOS) - % Rossi - R$ ‘000 1Q08 2Q08 3Q08 4Q08
Initial inventory 1,467 1,371 1,627 1,465*
Launches 178 776 518 402*
Inital inventory + Launches 1,644 2,147 2,145 1,868
Sales in the period 313 533 539 276
SOS in the period 19.0% 24.8% 25.1% 14.8%
Revaluation (pricing and discount) 39 13 12 64
Final inventory 1,371 1,627 1,618 1,656
12
Inventories at Market Value
PSV by Income Segment Ready
< 6
months
7 to 12
months
13 to 24
months
25 to 36
months
> 36
months
Total
Economic Segment 4.2 26.7 78.1 135.8 133.7 - 378.6
< R$ 200,000 4.2 0 6.6 0.7 33.6 - 45.1
R$ 200,100 - R$ 350,000 14.8 11.0 56.4 90.8 166.6 - 339.6
R$ 350,100 - R$ 500,000 4.5 4.9 21.6 154.8 71.3 3.2 260.3
> R$ 500,100 3.4 0.8 34.6 157.0 198.4 112.8 507.0
Commercial 0.8 0 0 18.2 43.1 63.6 125.7
Total 31.9 43.3 197.4 557.4 646.7 179.5 1,656.3
2% 3% 12% 34% 39% 11% 100%
*excluding phases unavailable for sale: Naturale, Personale, Jd. Leopoldina and Pateo Catalunya
** excluding units unavailable for sale: Universe Life Square and Rossi Business Park

13
Economic Segment
Terraços Praças - Fortaleza - CE
Launches
Contracted Sales • 4Q08: R$ 107 million in 771 units
• 2008: R$ 484 million in 3,317 units
• 4Q08: R$ 186 million in 1,392 units
• 2008: R$ 707 million in 4,600 units
+ 146%
+ 103%
Villa Flora - Sorocaba - SP Recanto Praças - Goiânia - GO

14
Real Estate Market: Industry and Company Overview
Economic Segment
Housing Package can leverage our activities in the Economic Segment
More than 25,000 units delivered in the economic segment (Plano 100, Vida Nova, Villa Flora,
Residential Squares and Vertical Buildings)
Department focused on optimizing processes and product costs and cycle: reduction of the cycle from 30
to 12 months (partnership with PUC – Campinas)
Rating “A” (Highest rating granted by Caixa Econômica Federal)
In 2008, we launched the first phases of Villa Flora Hortôlandia, Villa Flora Votorantim financed by CEF
drawing on a group mortgage lending (Credito Associativo).
Development of a new product in the super economic segment (HIS – Habitação de Interesse Social)
1) unit price R$ 75,000; 2) family income of 4.5 minimum wages; 3) monthly installments of R$ 276
Land bank with a PSV of R$ 8.3 billion for future launches in the economic segment in 36 cities

Potential PSV (100%): R$ 20.3 billion
% Rossi: R$ 13.4 billion
Land bank PSV in R$ million
4Q08
Total
Total Rossi
20,347 13,362
Breakdown
Launches PSV 4Q08
Final 3Q08
Origination 4Q08
Final 4Q08
(650)
1,568
20,347
(573)
520
13,362
136 sites and 61 cities, not concentrated.
4 to 5 years PSV in the bag for future launches
12.2 million m2 buildable area
114,662 units for future launches
Expertise Rossi e Diferenciais Competitivos
19,428 13,414
Land bank
15
Acquisition Method
Unit
Swaps
Cash
Financial
Swaps
43%
23%
33%
9.6 10.1 10.7 11.8 13.4
4.0
4.6
4.5
6.0
0
5
10
15
20
25
3Q07 4Q07 1Q08 2Q08 3Q08
R$ billion
Partners
Rossi
4Q08
13.4
7.0
4.6
Expertise Rossi e Diferenciais Competitivos2008 Results Conference Call

State
Economic
Segment
<
R$ 200,000
R$200,000
-
R$350,000
R$350,000
-
R$500,000
>
R$500,000
Commercial Lots Total %
Amazonas 288 - - - - - - 288 1%
Bahia 33 322 1.130 - - - - 1,484 7%
Ceará 304 - - 104 - - - 409 2%
Distrito Federal 41 41 194 45 - 585 - 905 4%
Espírito Santo 448 - - - - 120 - 569 3%
Goiás 777 30 - - - - - 808 4%
Mato Grosso do Sul 53 - - - - - - 53 0%
Minas Gerais 1,684 143 61 132 194 - - 2,214 11%
Paraná 105 - - - - - - 105 1%
Rio de Janeiro 157 72 973 1,112 88 - - 2,402 12%
Rio Grande do Norte 166 - - - - 82 - 248 1%
Rio Grande do Sul 2,363 - 577 - 891 - - 3,831 19%
São Paulo Interior 1,546 227 999 1,079 388 42 512 4,793 24%
São Paulo Metro.
Region
318 - 190 840 769 31 92 2,239 11%
Total 8,283 835 4,124 3,312 2,330 856 603 20,347 100%
Distribuição 41% 4% 20% 16% 11% 4% 3% 100%
Expertise Rossi e Diferenciais Competitivos
Land Bank diversified by region and product
Focus on low to middle income segment – 41% of PSV
Land Bank 4Q08 (in R$ million) - PSV by State and by Segment
16

17
Concluded Construction: 2008
Quarter # of Projects Units Total PSV PSV % Rossi
1Q08 2 360 116,191 73,753
2Q08 12 950 125,572 90,516
3Q08 7 607 94,286 77,091
4Q08 6 804 158,319 151,414
Total 26 2,721 494,367 392,773
R$ „000

19
 Increase in cash position from R$ 174 million to R$ 303 million
 Above the Guidance disclosed to the market (of R$ 280 million at the end of 2008)
 Lowest cash burn among biggest peers
 Constant decrease - approximately R$ 40million/month
Net debt decrease from R$ 606 million to R$ 565 million
 Net debt/Shareholders‟ equity = 46%
 Gradual and constant improvement of debt quality
 Rise in construction financing/total debt: from 29% to 31%
 Increase in the long-term portion of the total debt from 79% to 84%
Financial Highlights

20
Implementation of the administrative expense reduction program
 Reduction of approximately 10% our workforce
 Implementing Selling Expenses Productivity Program
 Evaluation of the return of investments at regional offices
Financial Highlights

21
Income Statement - 2008
R$ million
Prior
Law 11,638
AVP
Clients
Units
Swap
AVP
Notes
payable
Sales
stands
Sales
commission
Provision for
warranties
Finan.
charges
Fixed
assets
write-off
Total
After
Law
11,638
GROSS OPERATING REVENUE
Sales of property and services 1,214 (15) 75 - - - - - - 60 1,274
Taxes over property and service (40) - - - - - - - - - (40)
NET OPERATING REVENUE 1,173 (15) 75 - - - - - - 60 1,233
COST OF PROPERTY AND SERVICES (729) - (75) 2 - - - (13) - (85) (814)
GROSS INCOME 444 (15) - 2 - - - (13) - (26) 419
OPERATING EXPENSES
Administrative (103) - - - - - - - - - (103)
Executive board remuneration (3) - - - - - - - - - (3)
Selling (144) - - - (9) 12 - - - 3 (140)
Depreciation and amortization (2) - - - (9) - - - - (9) (10)
Other operating expenses (15) - - - - - (1) - (1) (2) (17)
OPER. INCOME BEFORE FINANCIAL
RESULT
177 (15) - 2 (17) 12 (1) (13) (1)
(33)
145
Financial revenues, net (10) - - - - - - - - - (10)
OPERATING INCOME 167 (15) - 2 (17) 12 - (13) (1) (33) 135
TAXES AND CONTRIBUTIONS (CURRENT
AND DEFERRED)
(6) - - - - - - - -
-
(6)
PROFIT SHARING: (10) - - - - - - - - - (10)
NET INCOME FOR THE PERIOD 152 (15) - 2 (17) 12 (1) (13) (1) (33) 119

22
Income Statement - 2007
R$ million
Prior
Law 11,638
AVP
Clients
Unit
Swap
AVP
Notes
payable
Sales
stands
Sales
commission
Provision for
warranties
Finan.
charges
Fixed assets
write-off
Total
After
Law
11,638
GROSS OPERATING REVENUE
Sales of property and services 827 (38) 4 - - - - - - (35) 793
Taxes over property and service (37) - - - - - - - - - (37)
NET OPERATING REVENUE 790 (38) 4 - - - - - - (35) 756
COST OF PROPERTY AND SERVICES (501) - (4) 5 - - - (1) - (0) (501)
GROSS INCOME 289 (38) - 5 - - - (1) - (35) 254
OPERATING EXPENSES
Administrative (58) - - - - - - - - - (58)
Executive board remuneration (3) - - - - - - - - - (3)
Selling (80) - - - (6) 3 - - - (3) (83)
Depreciation and amortization (1) - - - (2) - - - - (2) (3)
Other operating expenses (7) - - - - - (2) - (1) (3) (10)
OPER. INCOME BEFORE FINANCIAL RESULT 140 (38) - 5 (8) 3 (2) (1) (1) (42) 98
Financial revenues, net 3 - - - - - - - - - 3
OPERATING INCOME 142 (38) - 5 (8) 3 (2) (1) (1) (42) 100
TAXES AND CONTRIBUTIONS (CURRENT AND
DEFERRED)
(17) - - - - - - - -
-
(17)
PROFIT SHARING: (10) - - - - - - - - - (10)
NET INCOME FOR THE PERIOD 116 (38) - 5 (8) 3 (2) (1) (1) (42) 73

254
419
2007 2008
756
1,233
2007 2008
23
Net Revenue
Financial Highlights (R$ million)
63%
65%
Gross Income and Gross Margin
33.7%
34.0%
Unearned Revenue and Results 4Q08 3Q08 Var.
Unearned revenue 1,789 1,736 3%
Unearned results 607 586 4%
Backlog gross margin 33.9% 33.8% 0,1 p.p.

73
119
2007 2008
91
145
2007 2008
24
EBITDA and EBITDA Margin
Financial Highlights (R$ million)
Net Income and Net Margin
61%
9.7% 9.6%
59%
12.1%
11.7%
EBITDA 2008 2007 Var.
Operating Income (Loss) 135 100 35.1%
(+) Depreciation and amortization 10 3 227.5%
(+/-) Financial Expenses (Revenues) 10 (3) n.m.
(-) Profit Sharing (10) (10) 8.5%
EBITDA 145 91 58.9%
EBITDA Margin 11.7% 12.1% -0.3 p.p.

25
Selling, General and Administrative Expenses
Operating Expenses 2008
Administrative (R$ million) 107
Selling (R$ million) 140
Administrative/Net Revenue 8.6%
Selling/Net Revenue 11.4%
Administrative/Contracted Sales 6.4%
Selling/Contracted Sales 8.4%
Administrative/Launches 5.2%
Selling/Launches 6.9%

26
20
15
100 100 100
114
154
4
10
69 67 67
33
2009 2010 2011 2012 2013 2014...
Debentures Construction financing Loan - Working Capital 26
Indebtedness
Cash position: R$ 303.2 million
Total Debt: R$ 878.2 million
Amortization Schedule
Indebtedness dec/08 sep/08 Var (%)
Indebtedness – Short Term 149.4 166.9 -10%
Loans – working capital 10.1 - -
Construction financing 113.6 156.8 -28%
Debentures 25.7 10.1 155%
Indebtedness – Long Term 728.8 613.0 19%
Loans – working capital 235.7 246.0 -4%
Construction financing 157.6 67.0 135%
Debentures 335.4 300.0 12%
Total Indebtedness 878.2 779.9 13%
Cash position
Cash and banks 70.3 30.0 134%
Short term investments 231.8 143.1 62%
Long term investments 1.1 1.2 -2%
Total cash position 303.2 174.3 74%
Net Indebtedness 575.0 605.6 -5%

27
NossosResultados em Números
Sound Financial Situation
1. Capitalization of R$ 150 million through a capital increase guaranteed by the controlling shareholder
2. Cash position of R$ 303 million and R$ 108 million in capitalizable receivables
3. R$ 2.6 billion in available construction financing lines
4. Lowest cash burn along 2008, among the biggest real estate companies in Brazil
Balance (R$ million) 4Q08 3Q08*
Net Debt 565 606
Cash Position 303 174
Shareholders‟ Equity 1,238 1,177
Net Debt / Shareholders‟ Equity 46% 51%
Cash Burn (R$ million) Variation in net debt Capitalization Cash burn
1Q08 136 136
2Q08 128 128
3Q07 117 117
4Q08 -31 150 119
Market Value RSID3
Number of shares 157,703,628
Number of new shares issued 34,482,760
Total shares after capital increase 192,186,388
Price as of 03/25/2009 R$ 3.53
Market Value R$ 678,417,949.64
* Prior to Law 11,638

28
NossosResultados em Números2008 Results Conference Call
RSID3 - 2009
60
70
80
90
100
110
120
130
140
RSID3 IBOV IMOB
R$/share
Source: Bloomberg
0,00
5,00
10,00
15,00
20,00
25,00
30,00
RSID3 IBOV IMOB
R$/ação
Fonte: Bloomberg

29
NossosResultados em Números
Institution Analyst Contact
BB Investimentos Antonio Emilio Ruiz antonioemilio@bb.com.br
Banco Fator Renato Pinto rpinto@bancofator.com.br
Citigroup Cecília del Castillo
Rodrigo Villanueva Bravo
cdelcastillo@accival.com
rvillanueva@accival.com
Credit Suisse Marcelo Telles
Guilherme Rocha
marcelo.telles@credit-suisse.com
Guilherme.rocha@credit-suisse.com
Deutsche Bank Dan McGoey
Michelle Dorea
dan.mcgoey@db.com
michele.dorea@db.com
Goldman Sachs Jason B. Mollin
Leonardo Zambolín
jason.molin@gs.com
leonardo.zambolin@gs.com
Itaú David Lawant
Cecília Viriato
david.lawant@itau.com.br
Cecilia.medeiros@itau.com.br
JP Morgan Adrian Huerta
Marcelo Motta
adrian.huerta@jpmorgan.com
marcelo.g.motta@jpmorgan.com
Merrill Lynch Alexandre Miguel
Carlos Peryrelongue
alexandre_miguel@ml.com
carlos_peryrelongue@ml.com
Raymond James Conrado Vegner conrado.vegner@raymondjames.com
Santander Marcello Milman
Gonzalo Fernández
mmilman@santander.com.br
gofernandez@santander.com.mx
UBS Pactual Gordon Lee
Rodrigo Monteiro
gordon.lee@ubs.com
rodrigo.monteiro@ubs.com
Votorantim Marcos Paulo Pereira Marcos.pereira@votorantimcorretora.com.br
Analyst Coverage

30
Cássio Elias Audi
CFO and Investor Relations Officer
cassioaudi@rossiresidencial.com.br
Ph. (55 11) 3759-7431
Maria Claudia Biolchini
Investor Relations Manager
mariabiolchini@rossiresidencial.com.br
Ph. (55 11) 3759-7516
IR Team

4Q08 Results Presentation

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