OHL Brasil reported strong financial results for the second quarter of 2005, with net service revenues up 7.9% over the previous quarter and adjusted EBITDA of $58.7 million, a 62.9% margin. Traffic across the company's three toll road concessions increased by 8% in the second quarter compared to the previous year. The company also completed its IPO in July 2005, raising $135 million to fund expansion plans and potential acquisitions.

1. Review of the Second Quarter 2005 Results Sept 15, 2005

4. Traffic* Evolution 4,344,399 4,549,318 10,578,818 1Q05 4,402,600 4,281,553 11,039,133 2Q04 Pro forma 4,650,010 4,607,574 11,770,773 2Q05 6.6% 8.0% (*) Vehicle-equivalents

5. Net Service Revenues Evolution 13.9% 15.4% 1H04 Pro forma 1H05 R$25.7 MM R$28.4 MM R$39.2 MM R$22.8 MM R$24.2 MM R$33.9 MM 2Q04 Pro forma 2Q05 R$93.3 MM R$80.9 MM R$49.2 MM R$56.2 MM R$74.4 MM R$44.5 MM R$47.7 MM R$65.6 MM R$179.8 MM R$157.8 MM R$158.8 MM R$92.7 MM 2002 CAGR 93.6% R$347.3 MM 2004 Pro forma 2003 HISTORY

6. Adjusted EBITDA and Margin Evolution R$47.4 MM R$58.7 MM 62.9% 58.6% 2Q04 Pro forma 2Q05 R$110.9 MM R$93.4 MM 59.2% 61.7% 1H04 Pro forma 1H05 18.8% 23.9% Margin Margin R$91.7 MM R$54.5 MM 58.8% 2002 CAGR 98.3% Margin R$214.4 MM 2004 Pro forma 57.7% 2003 61.7%

7. Net Income and Margin Evolution R$11.7 MM R$17.5 MM 18.7% 13.6% 1Q05 2Q05 R$29.2 MM R$12.3 MM 7.8% 16.2% 1H04 Pro forma 1H05 138.1% 48.8% Margin Margin R$3.2 MM -R$8.9 MM 2002 663% R$24.4 MM 2004 Pro forma 2003 HISTORY

8. CAPEX and Net Debt Consolidated Indebtedness (R$ MM) 12/31/02 12/31/03 12/31/04 3/31/05 6/30/05 6/30/05 Pf Short-term 5.3 16.2 52.1 67.7 66.0 66.0 Long-term 150.6 181.9 255.3 236.0 224.0 224.0 Gross Debt 155.9 198.1 307.4 303.7 290.0 290.0 Net Proceeds from IPO - - - - - 130.6 Cash and Cash Equivalents 12.7 31.0 51.6 67.1 82.4 82.4 Net Debt 143.2 167.1 255.8 236.6 207.6 77.0 Adjusted EBITDA 54.5 91.7 214.4 - - - Net Debt/Adjusted EBITDA ratio 2.63 1.82 1.19 - - - Qualification 6/30/05 Average tenor = 2.6 years 99.9% Real-denominated Indexes: - 88% TJLP - 8% CDI - 4% Other CAPEX (R$ MM) 1Q05 2Q05 1H05 % 2005 (E) Autovias 10.1 13.1 23.2 32.6% 63.7 Centrovias 2.0 7.4 9.4 13.2% 53.7 Intervias 15.4 23.2 38.6 54.2% 87.6 Total Concessionaries 27.5 43.7 71.1 100.0% 205.0

9. This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of OHL Brasil. These are merely projections and, as such, are based exclusively on the expectations of OHL Brasil’s management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in OHL Brasil’s filed disclosure documents and are, therefore, subject to change without prior notice. .