Lopes6

1. LOPES Acquires ROYAL, the largest Real Estate Broker in Federal District* [email_address] www.lopes.com.br/ir * In terms of sales volume

2. Forward Looking Statement This presentation does not constitute an offer, or invitation, or solicitation of an offer to subscribe for or purchase any securities neither does this presentation nor anything contained herein form the basis to any contract or commitment whatsoever. The material that follows contains general business information about Lopes – LPS Brasil Consultoria de Imóveis S.A and its subsidiaries (“Lopes”) related to the acquisition of Royal Empreendimentos Imobiliários Ltda. (“Royal”). It is not intended to be relied upon as advice to potential investors. The information does not purport to be complete and is in summary form. No reliance should be placed on the accuracy, fairness, or completeness of the information presented herein and no representation or warranty, express or implied, is made concerning the accuracy, fairness, or completeness of the information presented herein. This presentation contains statements that are forward-looking and are only predictions, not guarantees of future performance. Investors are warned that these forward-looking statements are and will be subject to many risks, uncertainties, and factors related to the operations and business environments of Lopes such as competitive pressures, the performance of the Brazilian economy and the industry, changes on market conditions, among other factors disclosed in Lopes filed disclosure documents. Such risks may cause the actual results of the companies to be materially different from any future results expressed or implied in such forward-looking statements. Lopes believes that based on information currently available to Lopes management, the expectations and assumptions reflected in the forward-looking statements are reasonable. Lastly, Lopes expressly refuses any duty to update any of the forward-looking statements contained herein.

4. Federal District’s Real Estate Market 1 Managerial Data 2 Royal’s Expectations Federal District is considered the third largest real estate market in Brazil. Estimated Contracted Sales of R$1.45 billion 1 for 2007. 2007E 450 2 630 2 40% 2008E Contracted Sales - Royal (R$MM) With Royal’s acquisition, Lopes consolidates its national leading position and is now present in 10 Brazilian states and Federal District 1 .

5. Business Summary Lopes’ largest acquisition – Base Case Valuation of R$ 60 million considering 100% of Royal Accretion Fixed Payment Earn Out Initial payment divided in installments that amount to R$12 MM Variable payment subjected to the adjusted Net Income accumulated in 2008, 2009 and 2010, with a R$37 million cap. 11.0x P/E 2008 9.0x P/E 2008 Royal’s acquisition includes a non-compete agreement and a “call/put” mechanism that aligns the interests of the Company, its shareholders and management.

7. Lopes’ Map – Geographic Expansion PE SC MG PA DF Lopes expands it’s national presence to 10 Brazilian states and Federal District and consolidates its position as the largest player in the Brazilian real state brokerage industry with more than 2,800 brokers. BA RS PR SP RJ ES