OHL Brasil is the second largest toll road operator in Brazil, operating 1,147 km of toll roads. In the third quarter of 2006, traffic grew 8.6% over the previous quarter and net services revenue increased 7.7%. Adjusted EBITDA was R$73.2 million with a margin of 66.9%. While net income declined 5.8% compared to the prior year third quarter, the company remains financially strong with continued investment in expanding and upgrading its toll road network.

1. 3Q06 Earnings
Results
Conference call
1

2. Company Overview
OHL Brasil, after the acquisition of Vianorte, is the second largest
company in the toll road concession sector in Brazil measured by
gross services revenue and kilometers of toll road operated, with
1,147 km of operations. OHL Brasil manages 11.6% of the total
Brazilian toll roads currently under concession, and 11.2% of the total
gross revenue generated in the sector.
Consistent cash generation and financial strength: strong
Adjusted EBITDA growth and low indebtedness level;
Privileged location: Autovias, Centrovias, Intervias and Vianorte
are interconnected and located in one of the main agribusiness
center in Brazil;
High growth potential: capitalized to participate in new toll road
concession bidding programs;
Controlling shareholder broad experience – OHL Concesiones;
Corporate governance best practices (Bovespa’s Novo Mercado
– OHLB3, with a 40% free float).

3. 3Q06 Highlights
Traffic grew by 8.6% over 2Q06 and 2.8% in comparison to
the 3Q05;
Net services revenues climbed 7.7% over the previous
quarter;
Adjusted EBITDA of R$73.2 million and Adjusted EBITDA
margin of 66.9%;
Net income recorded a 5.8% drop in the 3Q06 against
3Q05; 44.6% drop in comparison to the 2Q06;
OHL Brasil was approved to participate in the bidding for
MG-050 PPP project;
63.89%% appreciation of our shares until November 9,
2006.

4. Traffic Performance
Traffic Breakdown – 3Q06 Traffic Performance (in thousand Equiv.-Vehicle)
Intervias
Centrovias
Autovias
+8.6%
+2.8%
25,000
21.6%
20,000
56.2% 12,580
12,262
15,000 11,535
22.3%
10,000
4,986
4,864 4,473
5,000
4,661 4,617 4,830
0
3Q05 2Q06 3Q06
Average Toll Tariff Var % Var % Var %
3Q06 2Q06 3Q05 9M06 9M05
3Q/2Q06 3Q/3Q05 9M06/9M05
(in R$ / Equiv.-Vehicle)
Autovias 6.94 6.94 6.67 0.0% 4.0% 6.93 6.18 12.1%
Centrovias 7.17 7.15 7.17 0.2% 0.0% 7.17 6.81 5.2%
Intervias 3.91 3.97 3.93 -1.7% -0.7% 3.94 3.71 6.3%
Total Concessionaires 5.29 5.33 5.24 -0.7% 0.9% 5.32 4.95 7.5%

5. Net Revenue Performance
Revenue Breakdown – 3Q06 Net Revenue Performance (R$ thousand)
Intervias
Centrovias
Autovias
+3.7%
+7.7%
120.000
100.000
28.2%
45.550
44.739 42.509
41.6% 80.000
60.000
32.986
30.1% 32.091 29.542
40.000
20.000
30.881
29.523
28.659
0
3Q05 2Q06 3Q06
Var % Var % Var %
Net Services Revenue
3Q06 2Q06 3Q05 9M06 9M05
3Q/2Q06 3Q/3Q05 9M06/9M05
(R$ thousand)
Autovias 30,881 29,523 28,659 4.6% 7.8% 88,786 77,894 14.0%
Centrovias 32,986 29,542 32,091 11.7% 2.8% 92,122 88,281 4.4%
Intervias 45,550 42,509 44,739 7.2% 1.8% 127,221 119,133 6.8%
Total 109,418 101,574 105,489 7.7% 3.7% 308,129 285,308 8.0%

6. Adjusted EBITDA and Adjusted EBITDA Margin
In R$ million
+11.4%
200.5
+6.0% 180.0
+12.8%
73.2
69.0
64.9
66.9%
65.1%
63.9%
65.5%
63.1%
9M06
9M05
2Q06 3Q06
3Q05

7. Net Financial Result
Var % Var % Var %
Financial Results (R$ thousand) 3Q06 2Q06 3Q05 9M06 9M05
3Q/2Q06 3Q/3Q05 9M06/9M05
2,146 5,204 -58.8% -73.2%
Financial Revenues 8,010 13,659 13,841 -1.3%
(10,814) (12,043) (8,147) -10.2% 32.7%
Financial Expenses (33,590) (37,628) -10.7%
(7,428) (7,560) -1.7% -28.5%
BNDES/CEF (10,387) (22,556) (28,347) -20.4%
(1,828) (3,178) -42.5% 69.1%
Other financial expenses (1,081) (6,762) (7,688) -12.0%
(1,558) (1,305) 19.4% -146.9%
Monetary correction of fixed concession charge 3,321 (4,272) (1,593) 168.2%
26.7% 6227.0%
Net Financial Result (8,668) (6,839) (137) (19,931) (23,787) -16.2%
% Net Revenues 7.9% 6.7% 0.1% 6.5% 8.3%
Financial Expenses Breakdown (% of total)
2Q06
3Q06
Fixed concession Fixed concession
charge charge
14.4% 10.8%
Other financial Other financial 26.4%
16.9%
expenses expenses
68.7%
62.8%
BNDES/CEF BNDES/CEF

8. Net Income
In R$ million
+52.3%
-5.8%
81.0
-44.6%
53.2
40.8
24.0 22.6
3Q05 2Q06 3Q06 9M05 9M06

9. Net Debt
In R$ million
Our debt is 100%
denominated Reais
204.4
200.3
0.8x
0.8x
91.7
0.3x
3Q05 2Q06 3Q06
On October, SPR effected a R$220 million Promissory Notes Issue

10. CAPEX
In R$ million
CAPEX Real and Estimated CAPEX Breakdown – 3Q06
200.0 Between 2007 and 2009
191.8
255,0*
169.1
25.2% 23.9%
127.4 120.0
80.0
50.9%
55.0
9M06
2004 2005 2006E 2007E 2008E 2009E
*Estimated Capex for Autovias, Centrovias and Intervias.
Schedule
Autovias and Intervias concluded their “Main Expansion Projects” and are currently carrying
out paving repairs and remodeling certain facilities at the toll roads.
Centrovias continue to duplicate the SP-225, expected to be concluded by 2007.
We plan to invest R$120 million in Vianorte between 2007 and 2009.

11. 93.00
103.00
113.00
123.00
133.00
143.00
153.00
163.00
173.00
183.00
jul-05
aug-05
aug-05
sep-05
oct-05
OHL
nov-05
BOVESPA
nov-05
dec-05
jan-06
jan-06
feb-06
mar-06
apr-06
apr-06
may-06
jun-06
jul-06
jul-06
aug-06
sep-06
sep-06
oct-06
11/09/2006
163.89
157.86
Share Performance

12. Notice
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.