Lopes presented operational and financial results for 3Q09. Key highlights include: - Contracted sales totaled R$2.6 billion, up 15% from 2Q09. - Pro forma EBITDA was R$30 million, up 37% from 2Q09. - Pro forma net income was R$18 million, up 61% from 2Q09. - Guidance for 2009 contracted sales was increased from R$8.0-8.5 billion to R$9.0 billion.

1. 3Q09 Conference Call Presentation Results
Presenters
Marcos Lopes – CEO
Francisco Lopes – COO
Marcello Leone – CFO and IRO

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 (“Lopes” or the “Company”) as of and for the period ended
September 30th, 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.
2

3. Program
I. Highlights
II. Operational Results
III. Financial Results
3

4. Highlights
4

5. Highlights
 Contracted Sales in the 3Q09 totaled R$2.6 billion, achieving R$2.4 billion on the primary
market and R$153 million on the secondary market.
Lopes sold 10,280 units in the 3Q09, 4,349 or 42% of which in the low income segment (up to
R$150 thousand).
 Lopes’ Sales Speed was 29.3%, a significant number considering that Lopes, as proxy of the
industry, should have posted an average of the sector and not one of its best marks.
 The same applies to Habitcasa with a Sales Speed over Supply of 65.9%.
 CrediPronto! financed R$42 million in the 3Q09. Since it began to operate, in late 2008,
CrediPronto! already financed R$137 million.
 In accordance to the results achieved, Lopes is rising its sales guidance to R$9.0 billion.
 Pro forma EBITDA in the 3Q09 was R$30 million, an increase of 37% qoq and 45% yoy. Pro
forma EBITDA Margin in this quarter was 46%.
 Pro forma Net Income was R$18 million in 3Q09, 61% higher on a qoq basis and 66% higher
on a yoy basis. Pro forma Net Income Margin in this quarter was 27%.
5

6. Operational Results
6

7. Contracted Sales
Contracted Sales
(R$ MM)
2,883
2,601
215
19% 153
2,183
163
2,669
2,448
2,020
3Q08 2Q09 3Q09
Primary Market Secondary Market
7

8. Contracted Sales Primary Market
Contracted Sales Primary Market
(R$ MM)
- 12% 21%
3,037 2,448
2,669 2,020
2Q08 3Q08 2Q09 3Q09
The growth between the 2Q09 and the 3Q09 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.
8

9. Sales Speed over Supply
Lopes' Consolidated Sales Speed Habitcasa’s Sales Speed
60.7% 65.9%
25.9% 29.3%
2Q09 3Q09 2Q09 3Q09
*Management information, 9
The Sales Speed over Supply is obtained based on the quarter’s contracted GVS compared to inventory and launches.

10. Sales by Income Segment 3Q09
Units Sold Contracted GVS
Total units sold = 10,280 Total Contracted GVS = R$2,601 million
6% 17%
12% 25%
42%
39% 22% 36%
<150K 150k-350k 350k-600k >600k
10

11. Contracted Sales by Geographic Region
Contracted Sales
3Q08 3Q09
16% 13%
7%
8% 42%
5%
6% 53%
18%
16%
7% 9%
São Paulo Brasília Campinas Rio de Janeiro South Region Other
11

12. Some Examples of Successful Projects 3Q09
Project: Altos do Bosque Project: Vitória Pirituba Gaivota
Developer: Agra Developer: Cytec/Living
High End Segment Low Income Segment
Region: Ipiranga – São Paulo Region: Pirituba – São Paulo
Launch: Sep/09 Launch: Sep/09
Area: 127m² Area: 44m²
Price per m²: R$ 4,500 Price per m²: R$ 2,400
Total Units: 168 Total Units: 264
100% sold 100% sold
Project: Good Life Vila Romana
Developer: Yuny
Project: Helbor Offices São Paulo
Middle Segment
Developer: Helbor
Region: Lapa – São Paulo
Commercial
Launch: Aug/09
Region: Ch. Santo Antônio – São Paulo
Area: 98 and 136m² Launch: Aug/09
Price per m²: R$ 4,400
Area: 42 and 47m²
Price per m² : R$ 5,300
Total Units: 132
100% sold
Total Units: 140
100% sold
12

13. CrediPronto!
CrediPronto!’s Financing
(R$ MM)
54% 41.9
Accumulated Mortgage Inventory in
2008 and 9M09:
27.2 -GVS: R$213.5MM;
136.6 -Financed Volume: R$136.6MM
- Contracts: 465
94,7
-Average Payment Term: 240 months
67,5
- Average Spread : 4.3%
-
2Q09 3Q09 2008 + 9M09
The amount financed by CrediPronto! was achieved through our Pronto! Stores, that
totaled 115 stores
13

14. Pronto!
2009
November 115 Stores
October 109 Stores
September 93 Stores
August 50 Stores
July 34 Stores
June 23 Stores
May 17 Stores
April 11 Stores
In the State of SP, Pronto
has 86 stores, 73 in the March 9 Stores
MRSP and 13 in the
countryside and coast. February 7 Stores
January 6 Stores
14

15. Sales Guidance – Primary and Secondary Markets
Guidance 2009
(R$ Bi)
8.0 – 8.5 9.0
6.2
Previous Guidance New Guidance Sales 9M09
Lopes’ Sales Guidance has changed
from R$8.0 to R$8.5 billion to R$9.0 billion.
15

16. Financial Results
16

17. Net Commission by Market
Net Commission
3Q08
2.89% 2.58%
2.24% 2.30%
São Paulo Rio de Janeiro Other Markets Brazil
3Q09
2.87% 2.21% 2.35% 2.61%
São Paulo Rio de Janeiro Other Markets Brazil
17

18. Results 3Q09
Results 3Q09
(R$ ‘000) LOPES PRONTO! CREDIPRONTO! CONSOLIDADO
Net Revenue 62,969 1,386 35 64,390
Operating Costs and Expenses (32,188) (1,837) (509) (34,534)
Stock Option Expenses (CPC 10) (1,175) - - (1,175)
Expenses Accrual from Itaú (238) - - (238)
Pro-Forma EBITDA1 30,543 (451) (474) 29,618
Pro-Forma EBITDA Margin 48.51% -32.51% -1367.67% 46.00%
Pro-Forma Net Income2 18,747 (1,035) (195) 17,517
Pro-Forma Net Income Margin 29.77% -74.62% -562.55% 27.20%
Without Pronto! and Credipronto!’s Brasília had a R$6.3 million Income,
effect, Lopes’ EBITDA would’ve been
while Campinas had a R$2.7 million
R$31 millions, with a 49% margin and a
Net Income of R$19 million, with a 30%
Income, what explains the minorities
margin. Interests of R$5.3 million.
1 Pro Forma EBITDA is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses. 18
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.

19. Costs of Services Provided and Operating Expenses
Operating Costs and Expenses
(R$ MM)
2.7
Other R$3.5MM
Itaú’s Expenses Accrual R$0.2 MM
38.4 32.2 Depreciation R$2.1 MM
Stock Option (CPC 10) R$1.2 MM
3.5 Other
Total Operating Costs Pronto! and Operating Costs
and Expenses Credipronto! Costs and Expenses
19

20. Operational Leverage
Costs and Expenses Net Revenue
(R$ MM) (R$ MM)
19%
10%
64.4
38.4
53.9
35.0
2Q09 3Q09 2Q09 3Q09
Operational Leverage as a basic premise for growth.
Result: Pro Forma Net Income increased 61%, with a 27% Margin
20

21. Pro Forma EBITDA*
Pro Forma EBITDA
(R$ MM)
46%
40%
31% 37%
29.6
20.4 21.6
3Q08 2Q09 3Q09
Pro Forma EBITDA Margin
EBITDA Pro Forma without Pronto! and CrediPronto!
(R$ MM)
1.2 (0.9)
28.4 29.6 30.5
EBITDA Stock Option Pro Forma EBITDA Pronto! and Pro Forma EBITDA
Expenses (CPC 10) CrediPronto!'s without Pronto! and
EBITDA CrediPronto!
* Pro Forma EBITDA is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses. 21

22. Pro Forma Net Income*
Pro Forma Net Income
(R$ MM)
27%
20%
16% 61%
17.5
10.5 10.8
3Q08 2Q09 3Q09
Margem Líquida Pro Forma
Pro Forma Net Income without Pronto! and CrediPronto!
(R$ MM)
1.2 (1.2)
16.3 17.5 18.7
Accounting Stock Option Pro Forma Net Income Pronto! Pro Forma Net Income
Net Income Expenses (CPC 10) Net Income and CrediPronto! without Pronto! and
CrediPronto!
* Pro Forma Net Income is a non-accounting measure drawn up by Lopes, which consists on EBITDA excluding the effects of stock option expenses. 22

23. Margin Analyses
Pro Forma EBITDA Margin
46%
45%
42%
15 pp
40%
2008
31% 2009
16%
1Q 2Q 3Q
Pro Forma Net Income Margin
27% 26% 27%
11 pp
20% 2008
9% 16%
2009
1Q 2Q 3Q
23

24. Cash Generation
Cash Flow 3Q09
(R$ MM)
21.4 (4.7) (7.4)
126.7 136.0
Cash Positon 2Q09 Operations Investments Financing Cash Positon 3Q09
In the 3Q09, Lopes’ cash and cash & equivalents increased R$9.2 million, what
totaled a R$136 million cash position in the quarter.
24

25. Next Events
3Q09 Results Conference Call
Portuguese English
Date: 11/11/2009, Wednesday Date: 11/11/2009, Wednesday
Time: 10h00 a.m. (BR Time) Time: 12h00 p.m. (BR Time)
07h00 a.m. (NY Time) 09h00 a.m. (NY Time)
Telephone: (11) 4688-6361 Telephone Brazil: (11) 4688-6361
Password: Lopes Telephone US: +1 888-700-0802
Telephone other countries: +1 786 924-6977
Password: Lopes
Replay: Replay:
http://webcall.riweb.com.br/lopes/20091111/ http://webcall.riweb.com.br/lopes/20091111/english
CONTACTS
Marcello Leone Samia Nemer
CFO and IRO IR Coordinator
Tel. +55 (11) 3067-0015 Tel. +55 (11) 3067-0257
E-mail: ri@lopes.com.br
www.lopes.com.br/ir
25