Lopes held a 2Q10 conference call to present operational and financial results. Key highlights included contracted sales reaching the highest levels, with a 56% increase in contracted sales from 2Q09. Pro-forma EBITDA increased 82% over 2Q09 to R$39.1 million, with a margin of 49%. Pro-forma net income increased 121% to R$24 million, with a margin of 30%. The company also announced acquiring stakes in secondary market companies VNC and Self, and establishing a foundation to acquire control of Patrimóvel.

1. 2Q10 Conference Call Presentation ResultsPresentersMarcos Lopes – CEOFrancisco Lopes – COOMarcello Leone – CFO and IRO

2. Forward-looking statementsThis 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 BrasilConsultoria de Imóveis S.A and its subsidiaries (“Lopes” or the “Company”) as of and for the period ended June 30th 2010. 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

3. ProgramHighlightsOperational ResultsFinancial Results3

4. Highlights4

5. Highlights In this quarter, Lopes reached the highest levels of its key indicators: Contracted Sales, Mortgages, Net Revenue, EBITDA and Net Income.Contracted Sales totaled R$3.4 billion in 2Q10, 56% higher than 2Q09.Lopes sold 12,369 units in Brazil in 2Q10, 49% higher than 2Q09, of which 34% were in the low-income segment (units prices up to R$150,000). Sales Speed Over Supply stood at 36.4%, when isolating the low-income segment, Habitcasa´s Sales Speed Over Supply was 65.4% in the quarter, both among one of the largest sales speed of the sector. In 2Q10, CrediPronto! granted mortgage loans worth R$146.0 million. Since its operational startup, CrediPronto! has registered mortgage portfolio of R$436.8 million.The Company takes this opportunity to announce the new financing guidance for Credipronto! for 2010, which is R$500 million.Lopes Net Revenue totaled R$80 million, an increase of 48% when compared to the 2Q09.Pro-forma EBITDA in 2Q10 was R$39.1 million, an increase of 82% over 2Q09. Pro-forma EBITDA Margin in the period was 49%.Lopes posted Pro-forma Net Income of R$24.0 million in 2Q10, up 121% on the same period last year. Pro-forma Net Margin was 30% in 2Q10.In line with its M&A strategy, Lopes has already acquired VNC in São Paulo and Self in Niterói, Rio de Janeiro, both fucused in the secondary market. The Company also structured the foundation for the acquisition of the control of Patrimóvel, in Rio de Janeiro.5

6. Operational Results6

7. LaunchesGVS LaunchedUnitsLaunched(R$ MM)161%7

8. Contracted SalesContracted SalesUnitsSold(R$ MM)12,3693,41049%56%8,3212,1838

9. Sales Speed over SupplyLopes' Consolidated Sales SpeedHabitcasa’s Sales Speed 9*Management information,The Sales Speed over Supply is obtained based on the quarter’s contracted GVS compared to inventory and launches.

10. Sales by Income Segment – Primary and Secondary MarketsContracted SalesTotal Contracted Sales = R$3,410 million2Q102Q09UnitsSoldTotal unitssold = 12,3692Q102Q0910

11. Contracted Sales by Geographic Region – Primary and Secondary MarketsContracted Sales2Q102Q0911

12. PrimaryMarketContracted SalesUnitsSold(R$ MM)55%12

13. SecondaryMarketContracted SalesUnitsSold(R$ MM)67%13

14. CrediPronto! Financed Volume(R$ MM)375%436%CrediPronto! financed in the 2Q10 R$146 million, ammounting to 521 contracts with an average payment term in the period of 270 months. In 2010 Credipronto! has already registered mortgage portfolio of R$232.9 million .14

15. CrediPronto! Monthly Progress of the MortgagePortfolio(R$ MM)26%15

16. Some ExamplesofSuccessfulProjects 2Q10100% SOLD100% SOLD100% SOLD99% SOLD96% SOLDMaximo GuarulhosGuarulhos– AprilCuryPassione FreguesiaSão Paulo - JuneEvenHelbor Office IISão Paulo- JuneHelborRossi PeasseioPorto Alegre- JuneRossiUpperSide Batel São Paulo- MayCiromac96% SOLD95% SOLD91% SOLD91% SOLD90% SOLDRossi Ideal Vila ItacaréSerra- MayEvenLargo Boa VistaCuritiba- JuneEquilíbioVida Viva Clube MoinhoPorto Alegre- MayMelnickEvenResidencial AlvoradaLimeira - MayRio VerdeCodeBerriniSão Paulo - JuneEven90% SOLD89% SOLD87% SOLD88% SOLD87% SOLDRossi IdealBoulevard ABetim– AprilRossiL ItaimSão Paulo – AprilTrisulBoulevardSideSalvador– AprilOdebrechtPremmio Vila NovaSão Paulo - JuneKallasBela CintraSão Paulo - JuneEven16

17. Some ExamplesofSuccessfulProjects 2Q1085% SOLD84% SOLD84% SOLD83% SOLD84% SOLDParque das Flores - BosqueSão Paulo– AprilAgreDream GuarulhosGuarulhos– AprilOpen (Even)Via ParqueSerra– JuneMetronCampos do Conde São ClementeMonte Mor– MayAgreHelborOfficesChampagnatCuritiba– JuneHelbor75% SOLD83% SOLD79% SOLD82% SOLD80% SOLDDueto Parque PradoCampinas– JuneRossiNoveau Vila da Serra Nova Lima– AprilEvenTheGraden OrquidárioSantos– JuneOdebrechtMagno Água VerdeCuritiba– AprilTarjabPátio da PedraPalhoca– AprilPedra Branca73% SOLD73% SOLD70% SOLD70% SOLD70% SOLDResidencial BarcasParnamirim– MayMRVBuena Vista ResidenceClubFortaleza– AprilJ Simoes EngenhariaPateoMondrianSão Paulo– AprilGafisaAlpha Park ResidencialAlphaville– AprilOdebrechtRossi OrquidarioSantos– AprilRossi17

18. Financial Results18

19. 19338Net Commission by MarketNet Commission

20. Results 2Q10TheCrediPronto! Revenuedoes not include the mortgages financial spreadWithout Pronto! and Credipronto!’s effect, Lopes’ EBITDA would’ve been R$39 millions, with a 52% margin and a Net Income of R$25 million, with a 33% margin.Brasília had a R$8.3 million Income, while Campinas had a R$2.1 million Income, what explains the minorities Interests of R$6.0 million.201 Pro Forma EBITDA is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses.2 Pro Forma Net Income is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses.

21. GuidanceCrediPronto!MortgageGuidance 201043%The Company takes this opportunity to announce the new financing guidance for Credipronto! for 2010 which is R$500 million.21

22. Gross and Net RevenueNet RevenueGross Revenue(R$ MM)(R$ MM)48%46%22

23. Costs of Services Provided and Operating Expenses Operating Costs and Expenses(R$ MM)The strategic management of costs and expenses of the Company guaranteed the maintenance of their levels over the quarters. 23

24. Pro Forma EBITDA*Pro Forma EBITDA(R$ MM)49%82%40%Pro Forma EBITDA MarginEBITDA Pro Forma without Pronto! and CrediPronto! 2Q10(R$ MM)24* Pro Forma EBITDA is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses.

25. Pro Forma Net Income*Pro Forma Net Income(R$ MM)30%121%20%Pro Forma Net Margin Pro Forma Net Income without Pronto! and CrediPronto! 2Q10(R$ MM)25* Pro Forma Net Income is a non-accounting measure drawn up by Lopes, which consists on Net Income excluding the effects of stock option expenses.

26. 2Q10 Performance - ComparativeAnalysisSales, EBITDA Margin, Net Incomeand Net MarginProgressRecord oftheContracted Sales oftheCompany.3,41056%Contracted Sales(R$ million)Highest EBITDA ofthehistoryoftheCompany, and a Margin in thesamelevel as in the IPO.49%46%46%40%+22%36%EBITDAMarginPro-Forma23,191Highest Net IncomeofthehistoryoftheCompany.+134%Net Income(R$ thousand)33%30%27%+49%20%20%Pro-Forma Net Margin1Q104Q093Q092Q091Q1026

27. Acquisitions Secondary Market27

28. Patrimóvel - Acquisition2. Lopes receives a permanentcalloption to purchase 31% ofPatrimóvelwithin 150 days for R$51.5 MM*1. Atthispresentmoment, Lopes acquirespermanently 10% ofPatrimóvel for R$10 MMThe Company will consolidate its 20% stake of Patrimóvel in its financials.28*After 90 days, thecalloptionpaymentbecames CDI adjusted

29. CashPosition29* The payment will be made if the call option is exercised.** The payments made from 4Q10 are related to earn out installments of the acquisition and the amounts in the above table are based on current market conditions.

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