2008 02 27 apresntacao instituciona eng

February 27, 2008

CORPORATE PRESENTATIONCORPORATE PRESENTATION

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Disclaimer

This presentation contains statements that are forward-looking within the meaning of Section 27A of the

Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking

statements are only predictions and are not guarantees of future performance.

Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to

many risks, uncertainties and factors relating to the operations and business environments of CCDI and its

subsidiaries that may cause the actual results of the companies to be materially different from any future results

expressed or implied in such forward-looking statements.

Although CCDI believes that the expectations and assumptions reflected in the forward-looking statements are

reasonable based on information currently available to CCDI’s management, CCDI cannot guarantee future

results or events. CCDI expressly disclaims a duty to update any of the forward-looking statements.

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Capital StructureCapital Structure

Market PotentialMarket Potential

The CompanyThe Company

GuidanceGuidance

Low Income, Low Income, CaieirasCaieiras

and Venturaand Ventura

Agenda

Annex Annex ––ResultsResults

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Capital Structure

65.5% 34.5%

SpecialPurpose

Companies

51.0%

• IPO: January 31, 2007

• Volume: R$ 522 million

• Proceedings, Net: R$ 454 million

• Selling shareholder: Itautec (8%)

• Market cap (Sept 10, 2007):

R$ 1.1 billion

• Novo mercado

– One share, one vote

– Full tag-along rights

– Corporate Governance

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Strong Group Sponsorship

4.0%4.0%

1. 6%1. 6%

14.9%14.9%

43.3%43.3%

99.3%99.3%

100.0%100.0%

17.9%17.9%

42.9%42.9%

5.8%5.8%

Main BusinessesMain Businesses

Steel

Energy Generation & Distribution

Highway Concessions

Shoes & Sportswear

Denim (Jeans)

Financial Institutional Holding

Aluminum

Cement

Civil Works

Private-Held Companies

Premier Listed Companies

65.5%65.5% Real Estate Development

• 68 years of operations

• Leadership role in several industries

• National and international presence

• Corporate Governance

• Financial soundness

• Results-oriented culture

• Capital discipline

• 68 years of operations

• Leadership role in several industries

• National and international presence

• Corporate Governance

• Financial soundness

• Results-oriented culture

• Capital discipline

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Market Potential

• Economy

– Interest rates still in a downward trend

– Average income growing on real terms, supported by the creation of an unprecedented number of formal job posts

– Manageable inflation situation

• Demographics

– Brazilian baby-boomers (early 1980’s) are potential consumers

• Sector structure

– Raw materials still in overcapacity

– Investments and imports make up for short-term shortages

• Government support

– Housing financing not contemplated on the IOF’s (Financial Operations Tax) increase

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Market Potential

Capital markets sponsorship

Macronomic conditions and governmental

support

Vast, cheaper than usual financing

Market Potential

THE BRAZILIAN

REAL ESTATE SECTOR

VIRTUOUS CYCLE

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CCDI

Steady and consistent growth

Segment and geographical

diversification

Unique brand recognition

Capital discipline-based management

Proven track record

Differentiated business models

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Growth

453

211

5590

1996 2003 2004 2005 2006

1,260

2007

-39%

+115%

+178%

+284%

+93%

CCDI is founded as the Real Estate manager of

the properties of Camargo Corrêa

CCDI starts operations as real estate developer

CCDI acquires stake in property in Rio de Janeiro

IPOHM Acquisition

Geographic Diversification

Launchings (R$ million)

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Diversification

15

42

30

21

33

44

29

71

453

Vila São Vicente (João)

64

Vila Marina

Antigua

Empresarial Jardim Sul

Andorinha

49

63

Ventura (phase 2)

80

Quinta do Café

+178%

2006

Cassis

Viveiro Marilia Vogt

58Aguas de Março

Fotografia

97Cristais da Terra

240

145

56

Vila Rica

Oficina

Jardim Sul Ribeirão

Horizontes do Brooklyn

Vila São Vicente (Jacob)

67

Innova São Francisco 55

1,260

Ecos Natura Clube

Launchings per Project (R$ million)

19 projects in 2007

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Diversification

MG

ESSP

PR RJ

PE

HeadquartersLaunchings from 2003Extensive Land Bank

Regional OfficeAAA office buildingLand BankRegional

Office due in 2008

Regional OfficeLand Bank

Regional Office due in 2008Land Bank

Regional Office due in 2008

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Diversification

5590

2004

33%

67%

211

2005

49%

10%

41%

453

2006

38%

15%

16%

13%

19%

1,260

2007

São Paulo

2003

RMSP (other than SP)

SP Shore

SP Country

Rio de Janeiro

Launchings (R$ MM)

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Launchings Evolution

169.1

R$ 389.4

2003

221.3

R$ 611.3

2004

164.5

R$ 481.8

2005

164.8

R$ 511.6

2006

88.9

R$ 290.2

2007

Usable Area (m2)

Price (R$ 000)

-46%

-43%

Units Launched Residential

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Land Bank

7,034.6(71.4%)

1,556.4(15.8%)

1,119.6(11.4%)

143.6(1.5%)

70.3%

5%6.7

CCDI’s Land Bank Product Type Breakdown

573

2,994

SP Capital

3,047

RMSP(other thanSP capital)

1,978

SP -Country and

Shore

OtherRegions

Residential Land Bank Geographic Diversification

Total: 9,854.2

34.8%

18.0%

5.0%

6.7%

Residential

Residential - LeisureCommercialLots

35.5%

5.0%

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Land Bank

PSV* - Residential Projects

* All Figures in R$ Million, 100% CCDI

1,421.7

40 to 100 thousand

1,693.8

100 to 200 thousand

865.6

200 to 350 thousand

2,332.9

350 to 500 thousand

1,761.4

500 thousandto 1 million

515.6

Over 1 million

Residential - Leisure

Residential46.3%

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Residential and Lots Residential, Commercial and Lots

Own Sales Structure Third-Party Brokers

Construction and Consumer Financing from Launching (from Banks and CEF)

Construction Financing from LaunchingConsumer Financing after Keys (from Banks)

18 to 24 months 36 months

Own Construction Company Third-Party Construction (GMP)CONSTRUCTIONCONSTRUCTION

Mostly Cash Swaps, especially financial

Business Models

PRODUCTPRODUCT

SALESSALES

LAND ACQUISITION

LAND ACQUISITION

FUNDINGFUNDING

BUSINESS CYCLEBUSINESS CYCLE

SEGMENTSSEGMENTSUnits up to R$ 100,000 Units over R$ 100,000

Gross Margins: 25% to 30%Real IRR (Base case): 50%

Gross Margins: 25% to 30%Real IRR (Base case): 30% RETURNS

RETURNS

Residential Projects

Base case= sales of 50% pre-construction, land swap, unlevered

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Business Models

State of the Art Buildings

Specialized Third Party

Not available

30 months

Own Construction Company/Consortiums CONSTRUCTIONCONSTRUCTION

Swaps for area

PRODUCTPRODUCT

SALESSALES

LAND ACQUISITION

LAND ACQUISITION

FUNDINGFUNDING

BUSINESS CYCLEBUSINESS CYCLE

AAA Office Buildings

Gross Margins: 35% to 40%IRR (Base case): 30% RETURNS

RETURNS

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Capital Discipline

Acquisition of Land through swaps

Construction Financing

Transfer of Receivables

Lower Cash Commitment

Financing at attractive prices and conditions

No consumer credit risk

Lower Carrying CostsMitigated risks (real guarantees)

Securitization at face value

Mitigated RisksDebt disbursement “as needed”

100% received after delivery of keys

Financial Leverage

8%-9% Maximum

Cash Exposure of the Project (over total

PSV)

IPO Proceeds (net)

R$454MM

Low Exposure:

Expected Launchings >R$5BN

No significant short-term capital need

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Unique Brand Recognition

• First Company to go public bearing the “Camargo Corrêa” brand name

• Brand recognition nationally and internationally (Latin America, Africa, Europe)

• Main Attributes:– Trustworthiness

– Professionalism

– Credibility

– Efficiency

– Financial Soundness

• Extensive Research: Top 3 in purchase intention on all tested markets

• Extensive construction and complex project-related background

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Track Record

� Company�Fastest rump-up in the Brazilian Real Estate sector�93% CAGR from 2003 to 2007 in terms of launchings

� Management Team�Camargo Corrêa facilitates access to human capital�Key personnel acquired from top tier companies

� Young battle-tested team with over 400 projects on folder

� Group Sponsorship�Business focus - scalability

� Shared service center serving over 40,000 employee-base, located in the country-side of São Paulo (lower fixed costs)

� Costs decreasing on a per-task basis� SAP® in place from day one

� Focus Alignment� Stock option plan under implementation� Bonus program based on financial and operational performance

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Guidance for 2008

1,259.7

2007

2,000.0

2008

3,000.0

2009

+50%

+59%

Launching Guidance (in R$MM)

2nd Quarter: R$500MM to R$600MM

3rd Quarter: R$400MM to R$450MM

1st Quarter: R$200MM to R$300MM

4th Quarter: R$700MM to R$750MM

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Breakdown Guidance 2008

35%

Low-Income and Economic

Mid-High, high and luxury

15%

Office Building AAA

15%

Medium

35%

21%

SP Metro Region

15%

SP Country

andShore

SP Capital

29%

Otherregions

Office Building

AAA

15%

20%

Market Segment Region

Low Income,

Caieiras and Ventura

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HM Engenharia e ConstruçõesAcquisition

• The Rationale

– Starting operations in the Lower Income segment with scale

– Speed up the acquisition of know-how

– Be a first-mover to a huge potential market

– Use the most adequate business model for the segment

• The Chosen Way

– Acquisition of HM Engenharia e Construções

• The Reasons for HM

– Vast, proven track-record

– Unique building technology

– Consolidated Land Bank

– Strong partnership in place with Caixa Econômica Federal and other financial institutions

– Focus on the country-side of São Paulo (among the richest in Brazil)

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Meet HM Engenharia e Construções

AraçatubaSão José do Rio PretoVotuporangaCatanduva

BarretosRibeirão PretoFrancaCatanduva

CampinasSorocabaJundiaíPiracicaba

BauruMariliaBotucatuAssisSão Carlos

São Paulo

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76,104

Low Income

11,543

Economic(R$100k-200k)

86,687

Total

Units Built Units from R$ 40,000 up to R$ 100,000

Residential (Horizontal and Vertical) and Lots

Own Selling Structure

Own Construction Structure

State of São Paulo

2007 Launchings:R$ 30MM (Post-deal)

2006 N.O. Revenues: R$ 65MM2006 Net Income: R$ 9MM

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Caieiras Project

• 5,207,600 m² (1.3 thousand acres) land located in Caieiras. São Paulo Metropolitan Region.� 19 km (11.8 miles) from downtown São Paulo

� Ample, easy, fast access (CPTM “A”-line train and major highways)

• Potential Sales Volume: from R$ 2.5 billion to R$ 3.0 billion� Residential e commercial (support)

� 20,000 units

� Economy segment (units between R$ 70 thousand and R$ 200 thousand each)

• Acquisition terms:� R$ 28 million in cash

� Balance in financial swaps

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• Caieiras has the lowest population density in the São Paulo Metropolitan Region

1

2

3

4

5

6

7

8

3.130 hab/km2

3.510 hab/km2

2.690 hab/km2

4.000 hab/km2

2.180 hab/km2

14.000 hab/km2

12.000 hab/km2

3.800 hab/km2

9 780 hab/km2

1

2

3

4 5

7

8

6

9

Caieiras Project

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Ventura Phase 1 Transaction

• Projeto Rio’s participation on Phase 1 of the Ventura Corporate Towers

(AAA Office Building under construction in RJ)

• CCDI participation: 44%

• Launched in June, 2006 – PSV: R$ 186 million (CCDI’s stake)

• 53,378 sqm

• Option sold to Investors on Dec 21, 2007

– US$ 11.76 million

– Exercise in January, 2007, after real estate due diligence

• Option exercised on Jan21, 2007

• Price: R$422.1 million (total valuation: R$1,040 million/CCDI stake:

R$520 million)

• PSA in effect; sale complete after place after full compliance with

commitments to UFRJ (Federal University of Rio de Janeiro), the original

owner of the site, has occurred

Annex:

Numbers for 2007

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Contracted Sales

* All numbers are in R$ Million, 100% CCDI

382163

219

172

9M07 4Q07 2007

+122%

2006

35

Units

3,210

3,384

SalesLaunchings

9.0 ready

726

764

203

3,422

4Q073Q07

2

Ready

Under Construction

29

695

Pre-construction

* All numbers are 100% CCDI

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Financials

Gross Margin (%)

20.6%

3Q06

19.4%

4Q06

22.4%

1Q07

25.6%

2Q07

28.2%

3Q07

35.4%

3Q07 Reconciliation

+7.3 p.p.

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Income Statement Reconciliation

3Q07

Reported

3Q07

(Pro-Forma)

3Q06

Reported

3Q06

(Pro-Forma)

Total Contracted Sales 47,075 47,075 42,050 42,050

Brokerage Commission (1,825) - (1,658) -

Land Swap Cost - (1,921) - (3,756)

Gross Revenues Recognized 45,249 45,154 40,392 38,294

Deductions (1,783) (1,779) (1,473) (1,779)

Net Revenues Recognized 43,466 43,374 38,919 36,514

Product Sold Cost (28,002) (28,002) (26,053) (26,053)

Land Swap Cost (1,921) - (3,756) -

Financing Cost (1,307) - (1,090) -

Gross Income 12,237 15,372 8,020 10,461

Gross Margin 28.15% 35.44% 20.61% 28.65%

Sales Expenses (1,716) (1,716) (1,334) (1,334)

Brokerage Commission - (1,758) - (1,597)

General & Administration Expenses (7,530) (7,530) (4,194) (4,194)

Operational Income 2,991 4,368 2,492 3,336

Financial Result 8,712 8,712 3,398 3,398

Financial Expenses (989) (989) (3,870) (3,870)

Financing Costs - (1,307) - (1,090)

Non Operational Result 7 7 (375) (375)

Earnings Before Taxes 10,721 10,791 1,645 1,399

Deferred Income Taxes/ Social Contribution (3,246) (3,246) (1,266) (1,266)

Net income 7,476 7,545 379 133

Net Margin 17.20% 17.40% 0.97% 0.36%

Margin Reconciliation

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Investors Relations

Paulo Roberto MazzaliPaulo Roberto Mazzali

CFO and Investor Relation [email protected]

Fernando BergaminFernando Bergamin

Investor Relation [email protected]

Rua Funchal, 160 – 9º andarVila Olímpia – São Paulo – SP – BrasilCEP: 04551-903Tel: (55 11) 3841-5880Fax: (55 110 3841-5761

www.ccdi.com.br/ri

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Presenters Contact Information