Lopes is launching a new secondary real estate market operation called Pronto! with the goals of building a significant market presence, establishing a sustainable competitive advantage, and achieving above-average profit margins. Pronto! will use a hybrid model of both owned and franchised stores to rapidly expand its network across Brazil at an optimized capital expenditure. The new dedicated brand Pronto! will offer a one-stop shopping experience for property purchases and financing through a joint venture with Itaú bank. An integrated marketing campaign is launching the new brand and operation.

1. Pursuing Leadership in the Secondary Market Presentation Marcos Lopes – CEO Francisco Lopes – COO Marcello Leone – CFO and IRO Ademar Larine – CEO Pronto!

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 information related to the business operations of Lopes –LPS Brasil Consultoria de Imóveis S.A and its subsidiaries (“Lope s” or the “Company” ) . 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

5. Secondary Market

6. The secondary market represents a significant volume of transactions of ready-to-go properties (new and used) Source: ITBI, Gafisa prospectus, Cushman Wakefield report, team analysis 118 Primary Secondary 100% 1.3 Goiânia Porto Alegre 1.3 Recife 1.4 Fortaleza 12.3 Rio de Janeiro 4.0 Brasília 3.0 0.6 Manaus 0.4 Vitória 0.5 1.8 Salvador 2.7 Curitiba 23.7 São Paulo Belém Maceió 0.3 Cuiabá Secondary 100% Primary 0.6 Real estate market by segment in 2006 – Total for Brazil and key cities (Total in R$ billion, % of total potential sales value)

7. In Brazil, the price of ready-to-go properties is subject to a large discount compared to new developments Difference (in %) between the average price per m² in new development vs. used properties in various countries / cities In the city of São Paulo, the difference is as high as 30% ~ 50%

9. A New Platform

13. A new brand: automatic association with operating segment www.pronto.com.br * The internet is the main gateway for property buyers *On line from November 25th

14. The brand and company launch campaign focuses on the strengths of our model Advertisement published in the country’s leading newspaper (O Estado de São Paulo)

15. The new brand clearly communicates our role in the segment

16. The brand and company launch campaign focuses on the strengths of our model

17. The brand and company launch campaign focuses on the strengths of our model

18. Status Update and Investment Overview

19. = At the same time that a property sale generates a “derived” demand for financing, it broadens the base of buyers, creating a virtuous circle that supports liquidity in the secondary real estate market. Pronto! and Credipronto! (JV with Itaú) will mutually strengthen this virtuous circle, offering a unique service in the real estate market The concept of One-Stop-Shop will deliver significant synergies between Credipronto! and Pronto! - a competitive advantage that will be difficult to replicate in the market With Lopes’ leadership and financing from Itaú (Brazil’s largest bank), Pronto! and Credipronto!, acting together, will create a competitive advantage that is hard to replicate

21. The End