Company Presentation Brazil Real Estate New York, USA March 5 th , 2008

1. Company Presentation Brazil Real Estate New York, USA March 5th , 2008

2. This presentation may contain certain forward-looking statements and information relating to Abyara Planejamento Imobiliário S.A. and its subsidiaries (collectively, “Abyara” or the “Company”) that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “believe”, “should,” “estimate,” “anticipate”, “expect”, “envisages”, “will likely result”, or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. 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 business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages. All forward-looking statements are qualified in their entirety by this cautionary statement. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason. The use of the term VGV means the sum of the potential expected sales value of the real estate units of the projects. The actual sales value of the units may differ from the expected VGV due to changes in unit prices at the time of sale and several other variables. Launchings of development projects are subject to several events, including governmental approvals, which may lead to delays in the launching schedule and changes in the original projects. Such changes may materially impact the VGV and the performance of a project. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities by any person. Any offering of securities will be made by means of an offering memorandum. The information provided in this material is not complete and must be read in conjunction with any offering memorandum the Company prepares in connection with the offering of the securities. Our securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”) or under any state securities laws in the United States. This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without Abyara’s prior written consent. DisclaimerForward Looking Statements

3. Real GDP Interest Rates Real Estate Finance Household Income (R$ Billion) (SELIC - % per year) (R$ Billion) (R$ Billion) CAGR: 3.1% CAGR: 46.3% Brazilian Real Estate MarketCombination of positive macroeconomic conditions results on demand growth CAGR: 2.1% Source: Brazilian Central Bank Source: Brazilian Central Bank Source: ABECIP Source: Brazilian Central Bank

4. Brazilian Real Estate MarketCombination of positive macroeconomic conditions results on demand growth

5. Above average GDP growth Positive trends in household income Positive Macroeconomic Conditions Brazilian Real Estate MarketCombination of positive macroeconomic conditions results on demand growth Controlled inflation rates More availability of credit for real estate companies and consumers Favorable demographic trends Lower Interest Rates Higher housing demand

6. Brokerage Launches Development Launches (R$ Million) (R$ Million) 84% 11.7x higher The CompanyA history of success in Brazilian real estate market 5

7. Our StrategyThe V3 Model V3

8. Our StrategyThe V3 Model: Value VGV VALUE VGV V3

9. Our StrategyVelocity of Sales (*) 70% of these projects were launched in December.

10. Company Structure Our StrategyThe V3 Model: Verify Execution Brokerage Development Planning Research Low Income Sales (Launches) Sales (Resale) Legal Advisory Engineering Product Development Regional Offices CRM Product Development Land Parcels Marketing Legal Advisory Architecture Marketing Research Ancillary Services VERIFY EXECUTION VERIFY EXECUTION Strategy & Guidelines Performance Indicators Corporate Finance Operations Human Resources Staff & IT Legal Investor Relations V3

11. Regional PresenceDiversified portfolio of projects over all Brazilian regions Co-Development Activities 40 projects with a VGV of R$ 2.1 billion North Office 10 projects with a VGV of R$ 1.4 billion South Office 10 projects with a VGV of R$ 1.7 billion Northeast Office 11 projects with a VGV of R$ 2.3 billion Southeast Office 30 projects with a VGV of R$ 2.3 billion Brokerage House Potential Sales of R$ 12.6 billion Middle West Office 6 projects with a VGV of R$ 0.8 billion São Paulo Metro Headquarters +

12. Capital MarketsPerformance of Shares

13. End of Presentation Please contact us for further information Luis Navarro Investor Relations Officer Phone: +55 11 3027-8025E-mail: ri@abyara.com.br IR Website: www.abyara.com.br/ri