OHL Brasil reported strong financial results in 2005, with adjusted EBITDA growth of 15.1% and low debt levels. As the third largest toll road operator in Brazil, it operates over 900km of roads and saw traffic grow 3% compared to 2.3% GDP growth. The company is well positioned for future acquisitions and bidding processes given its financial strength and experience in the sector.

1. 2005 Earnings Results Conference Call

4. Traffic Performance 4,608 4,661 4,642 4,931 4,864 4,840 11,576 12,262 11,666 0 2,500 5,000 7,500 10,000 12,500 15,000 17,500 20,000 22,500 25,000 4Q04 3Q05 4Q05 Intervias Centrovias Autovias + 0.2% - 2.9% 17,791 17,791 18,297 18,244 18,244 18,861 19,630 44,971 46,278 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 2004 2004 (pf) 2005 Intervias Centrovias Autovias + 49.9% + 3.0% Traffic Performance (in Equivalents-Vehicle)

5. Net Revenue Performance 25,223 28,659 29,109 30,321 32,091 32,180 38,505 44,739 42,539 0 20,000 40,000 60,000 80,000 100,.000 120,000 140,000 4Q04 3Q05 4Q05 Intervias Centrovias Autovias + 10.4% - 1.6% 94,875 94,875 107,003 108,127 108,127 120,461 65,265 144,330 161,672 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 2004 2004 (pf) 2005 Intervias Centrovias Autovias + 45.1% + 12.0% Net Revenue (R$ Thousand)

6. Adjusted EBITDA and Margin Performance In R$ million 64.4% 65.5% 62.1% 63.4% 61.7% 62.8%

7. Net Financial Result In R$ thousand The improvement in Net Financial Result was a result of the growth in financial revenues and of the regular debt amortization!

8. Net Income In R$ million + 214.2%

9. Net Debt In R$ million Currently our Net Debt is 100% denominated in Reais 52.8%

11. Share appreciation

12. Disclaimer 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 and are, therefore, subject to change without prior notice.