- Contracted sales in 2Q08 totaled R$3.3 billion, an increase of 191% over 2Q07, with strong growth in São Paulo and new markets entered. - Net revenues increased 136% to R$75.8 million in 2Q08. Adjusted EBITDA grew 88% to R$34.3 million. - Operational and financial results demonstrated strong growth, with contracted sales up 191% and net revenues and adjusted EBITDA increasing over 100% from the previous year.

1. 2Q08 Conference Call Presentation Results Presenters Marcos Lopes – CEO Francisco Lopes – COO Roberto Amatuzzi – CFO and IRO Marcello Leone – Planning Director

2. Forward-looking statements This presentation does not constitute or form part of any offer, or invitation or solicitation of any offer to purchase, sell or subscribe for shares or other securities of the Company, nor shall this presentation or any information contained herein form the basis of, or act as inducement to enter into, any contract or commitment whatsoever. This presentation contains financial and other information related to the business operations of Lopes –LPS Brasil Consultoria de Imóveis S.A and its subsidiaries (“Lope s” or the “Company” ) as of and for the three-month period ended June 30 th , 2008. It should not be considered as a recommendation for prospective investors to sell, purchase or subscribe for securities of the Company. The information presented herein is in summary form and does not purport to be complete. No reliance should be placed on the accuracy completeness of the information contained herein, and no representation or warranty, express or implied, is given on behalf of the Company or its subsidiaries as to the accuracy completeness of the information presented herein . This presentation contains forward-looking statements. Investors are advised that whilst the Company believes they are based on reasonable assumptions by Management, forward-looking statements rely on current expectations and projections about future events and financial trends, and are not a guarantee of future results. Forward-looking statements are subject to risks and uncertainties that affect or may affect business conditions and results of operations, which therefore could materially differ from those anticipated in forward-looking statements due to several factors, including competitive pressures, Brazilian macroeconomic conditions, performance of the industry, changes in market conditions, and other factors expressed or implied in these forward-looking statements or disclosed by the Company elsewhere, factors currently deemed immaterial. The forward-looking statements contained herein speak only as of the date they are made and neither Management, nor the Company or its subsidiaries undertake any obligation to release publicly any revision to these forward-looking statements after the date of this presentation or to reflect the occurrence of unanticipated events . 2

4. Highlights

6. Operational Results

7. Contracted Sales by Market Segment Contracted GVS – Primary Market Contracted GVS – Secondary Market (R$ MM) (R$ MM) 187% 245%

8. Contracted Sales by Geographic Region

9. Organic Growth in São Paulo Contracted GVS – Primary Market (R$ MM) (R$ MM) 55% Contracted GVS – Secondary Market 64%

10. Rio de Janeiro – Primary Market 1Q07 vs 1Q08 2Q07 vs 2Q08 (R$ MM) (R$ MM) 86% 2% * Managerial Informations.

11. Units Sold by Income Segment

12. Lopes: Strong Growth in the Low Income Segment 117.5k 119.4k 122.4k 116.4k 124.8k Average Ticket GVS (R$MM) Number of units Contracted Sales* * For operating ends, Lopes considers the economy segment as units valued at up to R$180,000 (Concept adopted in the Habitcasa unit). 7% 5% 8% 16% 20% % Total GVS

13. Growth of Units Sold Growth of Units Sold

14. Sales Force Growth (Number of agents)

15. Geographic Expansion Note: For the ends of this slide, the numerator of the fraction should be seen as the number of months in operation of a unit and the denominator as the number of months of the quarter in question The Lopes Group 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 LPS Brasil 3/3 3/3 3/3 3/3 3/3 3/3 3/3 LCI-RJ 3/3 3/3 3/3 3/3 3/3 3/3 3/3 Lopes Dirani - 1/3 3/3 3/3 3/3 3/3 3/3 Lopes Salvador - - 3/3 3/3 3/3 3/3 3/3 Lopes Actual - - 1/3 3/3 3/3 3/3 3/3 Lopes Sérgio Miranda - - - 1/3 3/3 3/3 3/3 Patrimóvel - - - 1/3 3/3 3/3 3/3 Lopes Minas Gerais - - - - 2/3 3/3 3/3 Lopes Royal - - - - 2/3 3/3 3/3 Lopes Bauer - - - - 1/3 3/3 3/3 Lopes Immobilis - - - - 1/3 3/3 3/3 Lopes Pará - - - - - 3/3 3/3 Lopes Goiás - - - - - - 2/3

16. Financial Results

17. Net Revenues Net Revenues (R$ MM) 136%

18. Adjusted EBITDA* * Adjusted EBITDA is a non-accounting measure created by Lopes, consisting of net income before the participation of minority interests, income tax and social contribution tax, net financial result (financial revenues and expenses), depreciation, amortization and non-operating income. The calculation of the Adjusted EBITDA does not correspond to any generally accepted accounting practice in Brazil, nor does it represent cash flow for the periods presented, and should not be considered a substitute for net income or a substitute for cash flow as an indicator of liquidity. 88% 56.8% 45.2% Adjusted EBITDA (R$ MM) EBITDA Margin

19. 2Q08 2Q07 Analysis of the Net Margin Monetary Restatement of the Acquisition Contracts LPS Brasil and SATI changes to Real Profit Minority Interests in the Acquired Units Goodwill of the Acquisitions Growth of 47.8% in 2Q08 over 2Q07

20. Adjusted Net Income* 40% 45% 26% Adjusted Net Income (R$ MM) Adjusted net margin * The adjusted net income is the accounted net income, excluding the amortization of the goodwill which came to R$3.2 million in the period under consideration. 69% 45% 32% Adjusted Net Income Before Minority Interest (R$ MM) Adjusted net margin before minority interest

21. Thank you!