1 Q08 Results Presentation

Localiza Rent a Car reported strong results for 1Q08, with net revenue up 16.6% to R$470.5 million and EBITDA increasing 23.2% to R$120.9 million. The company's average rented fleet grew 27.8% to 35,817 vehicles while daily car rentals were up 18% to 28,022. Free cash flow was negatively impacted by a R$89.3 million reduction in the vehicle supplier account, but excluding this would be R$36.2 million for 1Q08.