1. PDG Realty signs joint venture with
Grupo LN for Paraná and Santa
Catarina markets
Investors Relations:
Michel Wurman
Investors Relations Director
João Mallet
Investors Relations Manager
Gustavo Janer
IR Analyst
Telephone: +55 (21) 3504 3800
E-mail: ri@pdgrealty.com.br
Website: www.pdgrealty.com.br/ir 1

2. Joint Venture between PDG Realty & Grupo
LN
Grupo LN is one of the largest construction companies in Paraná and Santa
Catarina.
Founded more than 20 years ago, the company has launched over 2,500
residential units and has today 5 projects under constructions.
The joint venture foresees that, within the market of Paraná and Santa
Catarina, all of the projects prospected by one partner must be presented to
the other. Grupo LN will held a 30% to 50% stake in each project.
Prospect of projects development in the VGV amount of R$100 million (pro-
rata PDG Realty) year on year starting in 2008.
The partnership will target from mid-high to mid-low income segments and in
this last segment Goldfarb will be responsible for the construction.
The joint venture has already 3 pre approved projects, with the first launch
taking place in the 1Q08.
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3. Partnership Rationale
Allow PDG Realty’s entrance yet into another market, spreading our capillarity and
geographic diversification.
Capture the potential swell in the real state market of Paraná and Santa Catarina.
Partnership with a company of an effective technical capacity and performance execution.
Leverage PDG Realty’s result.
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4. Successful track record
PDG Realty´s track record proves its ability to continuously originate co-developments and private
equity opportunities.
Additional Acquisition of
acquisition 14,5% stake
JV of 21%
JV Acquisition Joint Venture Joint Venture
Set-06
of 20% stake PDG & Abaurre PDG Realty & LN
Private JV
Acquisition of
Equity... Acquisition of Joint Venture 30% stake
40% stake CHL & PIAL
Additional JV Additional
Feb-06 acquisition acquisition
of 10% Sale of of 5%
JV April-07
May-06 Nov-06 Feb-07 20% stake
Set - 07
June-07 August-07
44 projects launched July - 07
21 projects launched
14 projects launched R$ 250 mm
2003 -2006 2Q07
1Q07 Debenture
issuance
IPO
...and co-development
Jan-07 investments.
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5. Geographic Expansion
Following its strategy of geographic and market segmentation, PDG Realty is present in 31 cities distributed in
6 diferent states.
Additionaly, PDG Realty has recently acquired a 30% stake in TGLT S.A, a argentinean real estate developer
with projects in the cities of Buenos Aires and Rosário.
Bahia:
• Salvador
Espírito Santo:
• Serra
• Cariacica
Rio de Janeiro:
• Rio de Janeiro
• Niterói
São Paulo:
Paraná: • Araçatuba •Mogi Cruzes
•Curitiba •Atibaia •Paulínia
•Bragança Paulista •Ribeirão Preto
•Cajamar •S.Caetano
Santa Catarina: •Campinas •Santo Andre
•Florianópolis (*) •Cotia •Santos
•Guarujá •São Bernardo
•Guarulhos •São Jose dos Campos
•Itapevi •São Paulo
•Itu •Sumaré 5
•Itupeva •Votorantim
•Jandira
(*) under analysis •Jundiaí

6. Portfolio Investments
Even in a competitive environment PDG Realty was able to make important acquisitions in accretive
deals.
Rental Income
Mid to low income Mid to high income Land parceling Services
Properties
Part.: 75%
Focus: São Paulo, Rio de Janeiro Part: 17% Part.: 50% of a joint venture Part: approx. 14,5%
and Espirito Santo Focus: São Paulo Focus: São Paulo Focus: São Paulo, Rio de
Part: 17% (indirect)
Janeiro, Bahia, Minas Gerais
Focus: São Paulo
and Rio Grande do Norte
Part: 50%
Focus: Rio de Janeiro JV
Joint Venture
Focus: Rio de Janeiro
Part: 50% of a joint venture
Focus: Bahia
JV
Joint Venture
Focus: Niteroi, RJ
JV
Joint Venture
Focus: Espirito Santo
Part: 30%
Focus: Argentina
Joint Venture
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Focus: Paraná e Santa Catarina

7. Closing Remarks
Flexibility to capture a large range of investment opportunities and
Flexibility market trends
Expertise and capacity to invest in different:
– Geographic regions
Diversification – Markets
– Income segments
Count on the best
Ability to “hire” the best management in the industry and leverage on
management teams in their specific and local knowledge
the industry
Additional capital gain Capital gain potential from portfolio investments since PDG will help its
potential invested companies to grow and access equity capital
Management with strong real estate expertise, financial background
Management expertise and return oriented culture to implement PDG Realty´s business
strategy
The right platform to accomplish a sustainable long term growth
Unique business model in the Brazilian real estate market 7