The document summarizes Lopes' operational and financial results for the 2nd quarter of 2009. Operationally, contracted sales totaled $2.2 billion, up 51% from the previous quarter. Financially, pro forma EBITDA was $21.6 million, up 279% from Q1 2009, with a margin of 40.02%. Pro forma net income was $10.8 million, up 246% from last quarter, with a margin of 20.13%. The company is raising its full-year sales guidance to $8-8.5 billion due to better-than-expected results.

1. 2Q09 Conference Call Presentation Results Presenters Marcos Lopes – CEO Francisco Lopes – COO Marcello Leone – CFO and IRO

2. 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 period ended June 30 th , 2009. 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 .

4. Highlights

6. Operational Results

7. Contracted Sales (R$ MM) Contracted Sales 3,279 1,441 55% 2,183

8. 51% 41% Contracted Sales Primary Market Contracted Sales Primary Market The growth between the 1Q09 and the 2Q09 is not only caused by seasonality, but it is also caused by (i) Lopes’ liquidity potential, above all on inventory, and by (ii) more favorable market conditions. (R$ MM)

9. Launches Vs. Sales 51% 5% Even though the contracted sales in the 2Q09 grew significantly, the launched GVS remained stable, what proves Lopes’ good performance on inventory sales. Launched GVS Contracted Sales Primary Market (R$ MM) (R$ MM)

10. Sales Speed over Supply Brazil Consolidated Sales Speed Lopes+Habitcasa *Management information, The Sales Speed over Supply is obtained based on the quarter’s contracted GVS compared to inventory and launches. Habitcasa’s Sales Speed

11. Habitcasa Stands Up as the Biggest Player in sales in the Low Income Segment 5,269 units sold in the 1H09 It sells with 15 public held companies: Agra, Abyara, Brascan, Camargo Correa, Cyrela, Even, Gafisa, Helbor, Klabin Segall, Inpar, MRV, Rossi, Tecnisa, Tenda and Trisul Average Price in the 1H09 of R$127 thousand 70% of the Launched GVS of low income segment in 2009 was already sold Sales in the 2Q09 increased 68% when compared to the 1Q09 Only Real State Brokerage Company specialized on the low income segment, not only in sales, but also in advisory

12. Units Sold Sales by Income Segment 2Q09 Total units sold = 8,321 Contracted GVS Total Contracted GVS = R$2,183 million

13. Contracted Sales by Geographic Region Contracted Sales 2Q09 2Q08

14. Some Examples of Successful Projects 1H09 Project: Dez Vila Curuça Developer: Cury/ Living Region: São Miguel – São Paulo Segment: Popular Launch: Jun/09 Area: 43m²/ 45m² Price per m²: R$ 2,000 Total units: 252 100% sold in 10 days Project: Lugano Club Developer: Yuny Region: Vila Carrão – São Paulo Segment: Middle Launch: May/09 Area: 98m², 126m² Price per m²: R$ 3,450 Total units: 104 100% in 1 day Project: Helbor Offices Norte Sul Developer: Helbor Region: Campinas Segment: Commercial Launch: Apr/09 Area: 34m², 44m², 53m² e 78m² Price per m²: R$ 5,400 Total units: 238 100% in 1 day Project: Living Park Sul Developer: JC Gontijo Region: Brasília – Guará Segment: Middle-high Launch: Apr/2009 Area: 84 a 164m² Price per m²: $ 6,347 Total units: 1,150 75% in 3 months

15. Project: Ventura Ecoville Developer: Cyrela / Goldsztein / Doria Region: Curitiba Segment: Middle-Low Launch: Apr/09 Area: 49m²/ 72m² Price per m²: R$3,250 Total units: 211 100% sold in 26 days Project: Le Paysage Ibirapuera Developer: Yuny Region: Ibirapuera – São Paulo Segment: High Launch: Oct/08 Area: 322m² / 367m² Price per m²: R$ 8,500 Total units: 24 65% sold in 8 months Project: MaxHaus Panamby Developer: Maxcasa Region: Panamby – São Paulo Segment: Middle-High Launch: Apr/09 Area: 70m² Price per m²: R$ 3,700 Total units: 201 85% sold in 2 months Project: Vitória Pirituba Juriti Developer: Living / Cytec / Namour Region: Pirituba – São Paulo Segment: Popular Launch: May/2009 Area: 43 m² / 44 m² Price per m²: R$ 1,900 Total units: 116 100% in 1 day Some Examples of Successful Projects 1H09

17. Sales Guidance – Primary and Secondary Market Guidance 2009 Lopes’ sales guidance has changed from R$6.6 to R$7.4 billion to R$8.0 to R$8.5 billion. (R$ Bi) 18%

18. Financial Results

19. 2Q08 2Q09 Net Commission by Market Net Commission

20. Without Pronto! and CrediPronto!’s effects, Lopes’ EBITDA would’ve been R$22.1 million, with a 43% margin, and a Net Income of R$11.2 million, with a 22% margin. Brasília had a R$6.9 million Income, while Campinas had a R$2.8 million Income, what explains the Minority Interests of R$5.7 million. Results 2Q09 2Q09 Results (R$’000) LOPES PRONTO! CREDIPRONTO! CONSOLIDATED Net Revenue 51,727 1,792 366 53,885 Operating Costs and Expenses (29,438) (1,738) (905) (32,081) Stock Option Expenses (CPC 10) (824) - - (824) Expenses accrual from Itaú (238) - - (238) EBITDA Pro-Forma 22,051 55 (540) 21,566 Pro-Forma EBITDA Margin 42.63% 3.07% -147.69% 40.02% Net income Pro-Forma 11,223 (242) (133) 10,849 Pro-Forma Net Margin 21.70% -13.47% -36.38% 20.13%

21. Costs of Services Provided and Operating Expenses Operating Costs and Expenses (R$ MM) Other Other R$2.6MM Itaú‘s expenses accrual R$0.2 MM Depreciation R$1.6 MM Stock Option (CPC 10) R$0.8 MM

22. 55% 7% Costs and Expenses Net Revenue Operational Leverage (R$ MM) (R$ MM) Operational Leverage as a basic premise for growth. Result : Net Income Pro Forma increase of 246% with a 20% Margin.

23. Financial Result (in R$’000) Tax benefit recognized in the 1Q09 from 2008 investments APV write off over the 75% of Dirani’s acquisition debt Smaller profitability caused by the CDI decrease in relation to 1Q09 Semiannual tax levied on investment funds without grace period

24. Pro Forma EBITDA * Pro Forma EBITDA (R$ MM) Pro Forma EBITDA without Pronto! CrediPronto! Pro Forma EBITDA Margin 279% 16% 45% 40% (R$ MM) * Pro Forma EBITDA is a non-accounting measure drawn up by Lopes, which consists of EBITDA excluding the effects of stock option expenses.

25. Pro Forma Net Income * Pro Forma Net Income Pro Forma Net Income without Pronto! and CrediPronto! (R$ MM) Pro Forma Net Margin 26% 20% 246% 9% (R$ MM) * Pro Forma Net Income is a non-accounting measure drawn up by Lopes which consists of net income excluding the effect of stock option.

26. Cash Generation Cash Position 2Q09 (R$ MM) Includes the payment of R$6 million of acquisitions installments Includes the R$0,8 million payment of dividends to minority shareholders In the 2Q09, Lopes’ cash and cash & equivalents increased R$6,7 millions, what totaled a R$126,7 millions cash position in the 2Q09.

27. Next Events 2Q09 Results Conference Call Portuguese English Date: 08/12/2009, Wednesday Date: 08/12/2009, Wednesday Time: 10h00 (BR Time) / 09h00 (NY Time) Time: 12h00 (BR Time) / 11h00 (NY Time) Telephone: (11) 4688-6361 Password: Lopes Telephone Brazil: (11) 4688-6361 Telephone US: +1 888-700-0802 Telephone other countries: +1 786 924-6977 Password: Lopes Replay: Replay: http://webcall.riweb.com.br/lopes/20090812/ http://webcall.riweb.com.br/lopes/20090812/english CONTACTS Marcello Leone CFO and IRO Tel. +55 (11) 3067-0015 Samia Nemer IR Coordinator Tel. +55 (11) 3067-0257 E-mail: [email_address] www.lopes.com.br/ri