PDG Realty expands its activities related to planned neighborhoods for low-income residents to the states of Goiás, Pará, Mato Grosso, Mato Grosso do Sul and Distrito Federal. The company forms a partnership with EPAR Empreendimentos Imobiliários e Participações Ltda to develop low-income residential real estate projects in these new regions, focusing on projects worth up to R$200 million per year. The partnership will leverage PDG Realty's expertise and allow expansion into new markets.

1. PDG Realty advances in the low income Planned
Neighborhoods concept and expands its activities to the
states of Goiás, Pará, Mato Grosso, Mato Grosso do Sul e
Distrito Federal.
Relações com Investidores:
Michel Wurman
Diretor Vice-Presidente Financeiro e de RI
João Mallet, CFA
Gerente Financeiro e de RI
Gustavo Janer
Analista Financeiro e de RI
Telefone: +55 (21) 3504-3800
E-mail: ri@pdgrealty.com.br
1
Website: www.pdgrealty.com.br/ir

2. Partnership Rationale
Expansion of the Planned Neighborhood activities with focus on low income units.
Inable PDG Realty’s entrance yet into another market, spreading our capillarity and
geographic diversification.
Capture the potential swell in the real estate markets of Goiás, Pará, Mato Grosso, Mato
Grosso do Sul and Distrito Federal.
Alignment of interests between the shareholders of Goldfarb and EPAR Empreendimentos
Imobiliários e Participações Ltda.
Partnership with company with management team of effective technical capacity and
performance execution.
f ti
Leverage PDG Realty’s result.
2

3. PDG Realty & EPAR Engenharia
Partnership
p
The partnership will generate investment opportunities in low income
low-income
residential real estate projects to be developed by Goldfarb within the
“Planned Neighborhood” concept, marking Goldfarb’s expansion into new
regions.
The partnership will focus on projects in the states of Goiás, Pará, Mato
Grosso, Mato Grosso do Sul and the District Capital, which will be developed
by a holding company 80% owned by PDG Realty and 20% by the remaining
y g p y y y y g
shareholders of Goldfarb
EPAR's executive partners have more than 20 years experience with
residential land parceling in the Midwest and North of Brazil and a highly
successful real estate development track record.
We believe the partnership will lead to the development of residential land
parceling projects, with a major focus on the low-income segment and a PSV
li j t ith j f th l i t d
of up to R$200 million per year (PDG Realty's share) as of 2009.
3

4. Geographic Expansion
Presence in 44 cities and 12 States
The states we are present represent:
76,7% of the country´s GDP
68% of the country´s population
Source: Secovi, CBIC, ADEMI-RJ
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5. Constant Deal Flow
At capital markets, operational and corporate finance levels
p , p p
arkets / Inv.
Credit Suisse Deutsche Bank
Real Estate road trip Conference (NY)
UBS Conference Non Deal Road One on one UBS
São Paulo Show (NY) Conference Follow-On
London R$ 575 mm
Relation
IPO Initiating Coverage Debentures Santander
R$ 432 mm
$ R$ 250 mm
$ p
Real Estate road trip Banco Brascan
Capital Ma
Non Deal
Boston NY and Toronto
UBS CEO IPO
Conference R$ 304 mm
Initiating Coverage Initiating coverage
Initiating Coverage (debenture)
Operational
4Q06 1Q07 2Q07
Launches: 16 projects Launches: 14 projects Launches: 21 projects
Sales pro rata: R$82 mm Sales pro rata: R$78 mm Sales pro rata: R$224 mm
GSV pro rata: R$ 159mm GSV pro rata: : R$ 144mm GSV pro rata : R$ 231mm
Acq. of 20%
(+30% option)
Acquisitio Pipeline
Acq. of 21%
Joint Venture Geographic
Goldfarb and Expansion to
Acq. of 14.5%2 CHL JV Midwest and
on
Joint Venture JV Northen States
S
Acq.
Acq of 20%
Joint Venture Acq. of 5%
(+20% option)
JV Acq. of 5%
Acq. of 40% Acq. of 10% Sale of 20% Acq. of 30% (+5% option) 36.9%1
Jan-07 Feb-07 Mar-07 Apr-07
p May-07
y Jun-07 Jul-07 Aug-07
g Sep-07
p Oct -07 Nov -07 Dez -07
Notes:
1 25% directly and 11.9% indirectly through Lindencorp
5
2 Subject to further changes after new acquisitions

6. Final Comments
Exposure to the Low Income Low Income Pro rata PSV in the Landbank amounts to R$ 3,5 billion
Segment with over 42 k units
Expertise and capacity to invest in:
– Geographic regions
g p g
Diversification
– Market
– Income class segments
Leverage on Partnership
L P t hi Ability to “hire” the best management in the industry and leverage on
hire
their specific and local knowledge
Philosophy
Additional capital gain Potential capital gains through its portfolio investments
potential
Management with strong real estate expertise, financial background
Management expertise and return oriented culture to implement PDG Realty´s business
Realty s
strategy
The right platform to accomplish a sustainable long term growth
Unique business model in the Brazilian real estate market
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