BRMALLS Announces Its 1Q09 Results

RIO DE JANEIRO, BRAZIL--(Marketwire - May 8, 2009) - BRMALLS Participações S.A. (BOVESPA: BRML3), the largest shopping mall company in Brazil, announces today its results for the first quarter of 2009 (1Q09).

1Q09 Highlights

--  Gross revenues totaled R$89.1 million, representing a 24.1% increase
    over 1Q08;
--  Consolidated NOI reached R$73.4 million, a 31.0% year-over-year
    increase, while the NOI margin increased from 85.8%, in 1Q08, to 90.5%.
    Same-property NOI increased 19.5% over 1Q08;
--  Adjusted EBITDA, excluding the effects of Law 11,638, stood at R$64.1
    million in 1Q09, up 35.4% on 1Q08. EBITDA margin also improved
    substantially, increasing from 71.2% to 78.6%;
--  We closed 1Q09 with net income of R$36.9 million, versus R$1.4 million
    in 1Q08;
--  FFO reached R$51.0 million in 1Q09, 162.2% over 1Q08. Adjusted Funds
    from Operations (AFFO) totaled R$42.2 million, 116.8% up year-over-year;
--  We closed the quarter with a solid cash position of R$730.2 million;
--  The Company's gross debt totaled R$1.475 billion, while net debt stood
    at R$745.3 million, with no debt maturing in 2009 and 2010;
    

BRMALLS is pleased to invite you to the conference call of its 1Q09 results:

- English
May 8, 2009
10:00 a.m. (US EDT)
11:00 a.m. (Brasília Time)
Phone: +1 (786) 924-6977
Phone (Brazil): +55 (11) 4688-6301
Code: BRMALLS

- Portuguese
May 8, 2009
9:00 a.m. (US EDT)
10:00 a.m. (Brasília Time)
Phone: +55 (11) 4688-6301
Code: BRMALLS

The teleconference audio with a slide presentation will also be webcast. Access through: www.brmalls.com.br/ir.

Contact Information: IR CONTACTS: Leandro Bousquet CFO e DRI leandro.bousquet@brmalls.com.br Thiago Lima Diretor de Finanças Corporativas thiago.lima@brmalls.com.br Izabella Batista Coordenadora izabella.batista@brmalls.com.br Antonio Quirino Analista antonio.quirino@brmalls.com.br Tel: +55 21 3138-9900 Fax: +55 21 3138-9901