2nd Unibanco Small and Mid Caps Conference

Verano Residence Park

2007 Launches

Parque das ÁguasSplendore Valqueire

Carlos Guedes

CEO

Rogério Furtado

CFO and Investor Relations Officer

Speakers

2

Real Estate Sector had a strong increase with the return of long-term mortgages,

encouraged by the stable macro-economic climate, decline in interest rates, higher

income levels and better legal framework related to mortgage

Apr/07: IPO funding of R$ 307 million (Bovespa: CRDE3)

77% of the CR2’s landbank of R$ 3.6 billion focused on low income segment;

R$ 2.5 billion guarantee with a signed agreement with the Caixa Econômica

Federal

Expansion to São Paulo Metropolitan area with focus on low income segment;

In partnership with Unibanco we developed an individualized mortgage to

homebuyers:

bring the client to the bank immediately from the beginning of sales transaction

improves the projects cash flow

Sector’s overview and CR2

3

Board, Management

and Diffuse Control

44,4% 33,6% 22,0%

Shareholder Structure

4

Tiebold Assets

LLC

Unibanco: 20,6%

Others: 13,0%

Pure-play developer

Outsourcing construction and brokerage services

Partnerships with niche players

Search engine

Market reading

Low fixed costs

Operational flexibility/Agility

We look for following the credit flow as it spreads through the economy

Who We Are

5

Market Segments

Diversified Portfolio to Support Our Growth

Middle Income

4 projects with total PSV

R$460 million

Main project: Verano

Total PSV R$300 million

with 890 apartments

Mid-low

6 projects with total PSV

R$677 million

Main project: Alcântara

Total PSV R$509 million

with 4.2 thousand

apartments

Low income

4 projects with total PSV

R$2.7 billion

Main project : Nova Iguaçu

Total PSV R$2.6 billion

with 32,000 units (in

phases)

Agreement with CEF to

finance up to R$2.5 billion

Commercial

4 projects with CR2’s PSV

R$570 million

Main projects: Cidade da

Barra, Warehouse ABEAR, Barra

Trade and Barrartes

6

Launches towards low income

7

2.940 3.126

2.728

2.200 2.313

1.502

2006 1Q07 2Q07 3Q07 4Q07 1Q08

R$ / m

2

2006 1Q07 2Q07 3Q07 4Q07 1Q08

230

340

380

155127

77

R$ 0

00 /

m2

Nova IguaçuLow Income segment

8

Real estate developments of 32,000 houses with an approximate area of 50m2

focused in low income segment.

Nova IguaçuLow Income segment

Nova IguaçuLow Income segment

10

Commercial segment

11

Warehouse ABEARCommercial segment

12

Our total PSV launched for the year reached R$ 773.5 millions, with the CR2’s stake coming to

R$ 534.9 millions

In 4Q07 we took part in launches representing a total PSV of R$ 463.5 millions, R$ 350.4 millions of

which the CR2 pro rata stake

Operational Highlights - Launches

13

55,7

773,5

129,7

58,9

121,5

463,5

2006 1T07 2T07 3T07 4T07 2007

Total PSV Launched (R$ millions)

33,4

534,9

77,8

30,7

76,1

350,4

2006 1T07 2T07 3T07 4T07 2007

CR2 PSV Launched (R$ millions)

For 2007, the total contracted sales were R$ 221.7 millions and CR2’s stake was R$ 141,6

millions

The contracted sales in 4Q07 totaled PSV of R$ 85.3 millions, R$ 59.2 millions of which the

CR2 pro rata stake

Operational Highlights - Sales

14

11,9

141,6

25,3

24,8

32,4

59,2

2006 1Q07 2Q07 3Q07 4Q07 2007

CR2's Contracted Sales (R$ millions)

19,9

221,7

42,1

43,6

50,8

85,3

2006 1Q07 2Q07 3Q07 4Q07 2007

Total Contracted Sales (R$ millions)

Operational Highlights - Sales

Developments Partners Location SegmentLaunched

Units

Sold

Units%

Total PSV CR2 PSV

(R$ MM) (R$ MM)

Green Park 3000/4000 Dominus Barra (RJ) Middle income 240 134 56% 56 33

Verano Dominus Barra (RJ) Middle income 889 462 52% 302 181

Villaggio Del Mare Sertenge Recreio (RJ) Middle income 156 130 83% 59 31

Splendore Valqueire I Targa Valqueire (RJ) Mid-Low 120 108 90% 16 13

Pq. das Águas I and II Dominus Alcântara (RJ) Mid-Low 2,754 361 13% 327 262

Barra Trade SIG Barra (RJ) Commercial 5 - - 30 21

Barra Allegro SIG Barra (RJ) Middle income 144 45 31% 42 29

Mirante Bonsucesso YPS Guarulhos (SP) Low income 368 250 68% 28 24

TOTAL 4,676 1,490 29% 860 594

15

Financial Highlights – 2007

16

857

39.783

2006 2007

Net Revenues - R$ million

500

8.527

2006 2007

Gross Profit - R$ million

1.478

17.887

2006 2007

Adjusted Net Income - R$ million

7.972

5.847

2007

SG&A Expenses

Selling expenses

G&A expenses

IPO in April 2007: R$ 307 million

Net Cash: R$ 238.7 million

Guaranteed funding for 2008 launches

Guidance of 2008 launches:

CR2’s PSV of R$ 1.2 billion (~ total PSV R$ 1.6 billion)

Cash needs

Construction cost ~ 50% launch PSV (80% financed by banks/SFH)

Land cost ~ 5-10% launch PSV

Cash Position and guidance

17

Landbank

18

Developments Location Segment Expected Total TOTAL PSV

% CR2 CR2's PSV

Launch Date Units (R$ million) (R$ million)

Duque de Caxias Caxias (RJ) Low Income 1Q08 99 5 66% 3

Manaú – Mirante Bonsucesso Guarulhos (SP) Low Income 1Q08 368 28 86% 24

Henrique Costa Jacarepaguá (RJ) Mid-Low 1Q08 250 29 70% 20

Splendore Valqueire II Valqueire (RJ) Mid-Low 2Q08 160 25 80% 20

Residencial Itamarati – Top Life Santo André (SP) Mid-Low 2Q08 417 42 86% 36

Campo Grande I Cpo. Grande (RJ) Mid-Low 2Q08 196 45 90% 41

Nova Iguaçu I Nova Iguaçu (RJ) Low Income 2Q08 1,820 120 93% 112

Água Chata Guarulhos (SP) Low Income 2Q08 759 67 86% 57

Estrada do Campinho Cpo. Grande (RJ) Low Income 2Q08 1.000 61 80% 49

Warehouse ABEAR Barra (RJ) Commercial 3Q08 - 230 70% 161

Lote B-3 Barra (RJ) Middle Income 3Q08 240 58 60% 35

Est. de Madureira – Sta. Cecília I Nova Iguaçu (RJ) Low Income 3Q08 1,613 80 70% 56

Juquiá Santo André (SP) Low Income 3Q08 226 25 86% 22

Parque das Águas Alcântara (RJ) Mid-Low 4Q08 1,452 168 80% 134

Est. de Madureira – Sta. Cecília II Nova Iguaçu (RJ) Low Income 4Q08 1,613 80 70% 56

Barrartes Barra (RJ) Commercial 4Q08 - 120 70% 84

Cidade da Barra Barra (RJ) Commercial 4Q08 - 1,200 25% 300

Nova Iguaçu II, III e IV Nova Iguaçu (RJ) Low Income from 2009 on 30,180 2,341 100% 2,341

1Q08 717 62 77% 48

2Q08 4,352 360 87% 314

3Q08 2,079 393 70% 274

4Q08 3,065 1,568 37% 574

Total 2008 10,213 2,383 51% 1,210

From 2009 on 30,180 2,341 100% 2,341

Total Landbank to be launched 40,393 4,724 75% 3,551

IR Contact

19

Rogério Furtado

CFO and IR Officer

e-mail: rogerio@cr2.com.br

Daniel Magno

IR Manager

e-mail: dmagno@cr2.com.br

www.cr2.com.br/ir

phone: +55 (21) 3095-4600

Disclaimer

This presentation may contain certain forward-looking statements and information relating to CR2Empreendimentos Imobiliários S.A. and its subsidiaries (collectively, “CR2” or the “Company”) that reflectthe current views and/or expectations of the Company and its management with respect to itsperformance, business and future events. Forward looking statements include, without limitation, anystatement that may predict, forecast, indicate or imply future results, performance or achievements, andmay contain words like “believe”, “anticipate”, “expect”, “envisages”, “will likely result”, or any otherwords or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties andassumptions. We caution you that a number of important factors could cause actual results to differmaterially from the plans, objectives, expectations, estimates and intentions expressed in thispresentation. In no event, neither the Company nor any of its subsidiaries, affiliates, directors, officers,agents or employees shall be liable to any third party (including investors) for any investment or businessdecision made or action taken in reliance on the information and statements contained in thispresentation or for any consequential, special or similar damages.

This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any shares byany person in any jurisdiction in which it is unlawful for such person to make an offer or solicitation. Ourshares have not been and will not be registered under the U.S. Securities Act of 1933 (the “SecuritiesAct”) or under any state securities laws in the United States, and are being offered in the U.S. underSection 4(2) of the Securities Act only to qualified institutional buyers that are also qualified purchaserspurchasing for their own account or for the accounts of qualified institutional buyers who are alsoqualified purchasers and outside the U.S. in accordance with Regulation S to institutional and otherinvestors that are not U.S. persons. Shares may not be purchased or held by benefit plan investors(other than U.S. public and foreign public and private plans making certain representations).

This presentation and its contents are proprietary information and may not be reproduced or otherwisedisseminated in whole or in part without CR2’s prior written consent. 20