Marcopolo reported strong financial results for the first quarter of 2003, with increases in key metrics such as net revenues, gross profit, EBITDA, and net profit. Global production increased 13.7% and net revenues grew 32.0% compared to the prior year. The company also saw higher trading volumes and market leadership position. While challenges like exchange rates and inflation remained, Marcopolo expected continued growth in 2003 from opportunities in international markets and scenarios in the domestic market.

1. Disclosure of Results for 1Q03 Presentation Carlos Zignani Investor Relations Director João Luiz Borsoi Investor Relations Manager José Antônio Valiati Financial Administrative Director Caxias do Sul, May 05 2003. José Rubens De La Rosa Chief Executive Officer

2. Positive Aspects: Strong growth in net revenues; Reversal of losses from 1Q02; Increase in gross profit; Increase in EBITDA; Healthy financial position; Increase in the net margin vs. 2002 average; Market leadership; Strong rise in stock volumes and liquidity. Highlights 1Q03 2

3. Global Production - Marcopolo (in units) 13,7% (1) E = FORECAST FOR 2003. (1) CAGR: 14.6% (triennial) 3

4. Net Revenues (in millions of reais) 32,0% (1) E = FORECAST FOR 2003. (1) CAGR: 33.3% (triennial) 4

5. Revenues Relation: External Market/Brazil (%) CAGR: 12.7% (triennial) (1) E = FORECAST FOR 2003. (1) IM EM 5

6. Gross Profit (in millions of reais) CAGR: 50.7% (triennial) 46,7% 6

7. EBITDA (in millions of reais) ADJUSTED EBITDA = REMOVING THE EXCHAGE VARIATION. CAGR: 93.5% (triennial) (1) (1) 37,4% ADJUSTED CALCULATION ACCORDING TO PREVIOUS CALCULATION 7

8. CAGR: 76.9% (triennial) Net Profit (in millions of reais) 8

9. Investments - millions of reais (1) (1) E = FORECAST FOR 2003. 9

10. Net Indebtedness (in millions of reais) 10

11. Stock Performance 11 Marcopolo vs. Ibovespa Base 100 = 12/30/02 80 85 90 95 100 105 110 115 12/30/02 01/30/03 02/28/03 03/30/03 IBOV Marcopolo POMO4 1Q02 1Q03 % Shares Negotiated 5.673 million 8.647 million 52% Volume of Transactions R$ 18,9 milion R$ 34,4 million 82%

12. Dividends/Interest Over Capital Acc. (in millions of reais) CAGR: 41.1% 12

13. Challenges / Opportunities: Business in the Middle East; Exchange rate; Internal inflation; Operations in Latin America; General growth; Scenarios of the domestic market. Perspectives for 2003 13

14. Observation: This presentation contains future information. Such information is not simply historical facts, but reflects the desires and the expectations of the Company’s leadership. The words anticipates, desires, hopes, forecasts, intends, plans, predicts, projects, wishes and similar ones, intend to identify affirmations that necessarily involve known and unknown risks. Known risks include uncertainties that are not limited to the impact of the competitiveness of the prices and services, market acceptance of services, the Company’s service transitions and its competitors, the approval of regulations, currency, fluctuation in the exchange rate, changes in the mix of services offered, and other risks described in the reports of the Company. This presentantion is updated until the present date. However, Marcopolo is not obligated to update it with new information and/or future events. 14