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Capital Budget


        Investor Relations:

         Michel Wurman
   Director of Investor Relations
            João Mallet
   Manager of Investor Relations

    Telephone: (21) 3504 3800        1
    E-mail: ri@pdgrealty.com.br
  Website: www.pdgrealty.com.br/ri
Agenda



2008 Business Plan
     B i      Pl

     Investments made

     Investments planned

     Consolidated

     Financing

Exhibits

     Calculation Sheet




                           2
Business Plan




                3
Investments Planned



Investments made:


              Investments made in 2008 (to 24 March)                                  Investments planned in 2008 (after 24 March)

                                         Amount (R$ '000)      %                                              Amount (R$ '000) %
 Portifolio Companies                                77,462        45.5%   Portifolio Companies                         103,879         53.2%

 Co-Development                                      66,260        38.9%   Co-Development                                 69,472        35.5%

 Income                                              17,516        10.3%   Income                                           4,336        2.2%

 Services                                                660       0.4%    Services                                             (500)    -0.3%
                                                                                                                                         -0 3%

 Others                                               8,306        4.9%    Others                                         18,237         9.3%


                   Total                           170,204     100.0%                       Total                       195,424         100.0%




                      Services      Others
                                                                                                     Others
                        0%           5%                                                               9%
          Income                                                                 Income
            10%                                                                    2%

                                                  Portifolio
                                                 Companies
                                                    46%                             Co-Development                 Portifolio
                   Co-Development                                                                                 Companies
                        39%                                                              36%
                                                                                                                     53%




                                                                                                                                                 4
Investments Planned



Consolidated Investments:




           Investments planned in 2008 (consolidated)

                                   Amount (R$ '000 %                     Services   Others
                                                                                     7%
  Portifolio Companies                   181,341        49.6%   Income
                                                                           0%
                                                                  6%
  Co-Development                         135,732        37.1%
                                                                                              Portifolio
                                                                                             Companies
  Income
  I                                        21,851
                                           21 851       6.0%
                                                        6 0%       Co-Development
                                                                   C D    l     t               50%
                                                                        37%

  Services                                    160       0.0%

  Others                                   26,544       7.3%


                Total                    365,628
                                         365 628    100.0%
                                                    100 0%




                                                                                                           5
Sources of Financing




Opening of planned sources of financing:




                Financing of operations (R$)
                Fi    i    f      ti


                Retained Earnings                    50,698,892    2.6%
                Cash (31 Dec. 2007)                 641,814,976   97.4%
                Total                               658,714,607   100.0%


                Disclosure for each fiscal year


                Investments planned for 2008        365,628,455   55.5%
                Balance to invest in future years   293,086,152   44.5%
                Total                               658,714,607
                                                    658 714 607   100.0%
                                                                  100 0%




                                                                           6
Exhibits




           7
Calculation Sheet




  PDG Realty S/A Empreendimentos e Participações               Calculation of Dividends


  Allocation of net income for 2007                            Profits for
                                                               P fit f 2007                                 71,156,340
                                                                                                            71 156 340    105.3%
                                                                                                                          105 3%
                                                               Legal Reserve                                (3,557,817)    -5.3%
  Profits for 2007                             71,156,340
                                                               Calculation Base                             67,598,523    100.0%
  Legal Reserve                                    3,557,817
                                                               Dividends                                    16,899,631
  Dividends                                    16,899,631
                                                               Calculation of the Legal Reserve
  Balance of Accrued Earnings                  50,698,892

                                                               Profits for 2007                             71,156,340
  Calculation of dividends per share
                                                                       5%                                    3,557,817
  Dividends                                    16,899,631
  Total number of common shares               146,000,880
                                                 ,   ,
  Dividends                                        0.115750




                                                                                                  Amounts in R$




                                                                                                                                   8

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Presentation - Capital Budget

  • 1. Capital Budget Investor Relations: Michel Wurman Director of Investor Relations João Mallet Manager of Investor Relations Telephone: (21) 3504 3800 1 E-mail: ri@pdgrealty.com.br Website: www.pdgrealty.com.br/ri
  • 2. Agenda 2008 Business Plan B i Pl Investments made Investments planned Consolidated Financing Exhibits Calculation Sheet 2
  • 4. Investments Planned Investments made: Investments made in 2008 (to 24 March) Investments planned in 2008 (after 24 March) Amount (R$ '000) % Amount (R$ '000) % Portifolio Companies 77,462 45.5% Portifolio Companies 103,879 53.2% Co-Development 66,260 38.9% Co-Development 69,472 35.5% Income 17,516 10.3% Income 4,336 2.2% Services 660 0.4% Services (500) -0.3% -0 3% Others 8,306 4.9% Others 18,237 9.3% Total 170,204 100.0% Total 195,424 100.0% Services Others Others 0% 5% 9% Income Income 10% 2% Portifolio Companies 46% Co-Development Portifolio Co-Development Companies 39% 36% 53% 4
  • 5. Investments Planned Consolidated Investments: Investments planned in 2008 (consolidated) Amount (R$ '000 % Services Others 7% Portifolio Companies 181,341 49.6% Income 0% 6% Co-Development 135,732 37.1% Portifolio Companies Income I 21,851 21 851 6.0% 6 0% Co-Development C D l t 50% 37% Services 160 0.0% Others 26,544 7.3% Total 365,628 365 628 100.0% 100 0% 5
  • 6. Sources of Financing Opening of planned sources of financing: Financing of operations (R$) Fi i f ti Retained Earnings 50,698,892 2.6% Cash (31 Dec. 2007) 641,814,976 97.4% Total 658,714,607 100.0% Disclosure for each fiscal year Investments planned for 2008 365,628,455 55.5% Balance to invest in future years 293,086,152 44.5% Total 658,714,607 658 714 607 100.0% 100 0% 6
  • 8. Calculation Sheet PDG Realty S/A Empreendimentos e Participações Calculation of Dividends Allocation of net income for 2007 Profits for P fit f 2007 71,156,340 71 156 340 105.3% 105 3% Legal Reserve (3,557,817) -5.3% Profits for 2007 71,156,340 Calculation Base 67,598,523 100.0% Legal Reserve 3,557,817 Dividends 16,899,631 Dividends 16,899,631 Calculation of the Legal Reserve Balance of Accrued Earnings 50,698,892 Profits for 2007 71,156,340 Calculation of dividends per share 5% 3,557,817 Dividends 16,899,631 Total number of common shares 146,000,880 , , Dividends 0.115750 Amounts in R$ 8