Lopes Announces 1Q09 Results

SAO PAULO, BRAZIL--(Marketwire - May 14, 2009) - Lopes - LPS Brasil (Bovespa: LPSB3) (Reuters: LPSB3.SA) (Bloomberg: LPSB3.BZ), the largest residential consultancy and brokerage Company in Brazil, announces today its results for the fist quarter 2009. The financial and operating information is presented in accordance with the generally accepted accounting practices in Brazil and the managerial data provided by LPS Brasil - Consultoria de Imóveis S.A. and its subsidiaries.

Operating and Financial Highlights:

--  Contracted sales in 1Q09 totaled R$1,411.5 million, of which
    R$1,339.1 million in the primary market and R$72.4 million in the secondary
    market.
    
--  São Paulo represented R$573.7 million, Rio de Janeiro, R$86.7 million
    and Other Markets R$751.1 million in 1Q09. The share of contracted sales in
    Brasília grew significantly, rising from 9% in 4Q08, to 24%, or R$342.0
    million, in 1Q09.
    
--  Lopes sold 5,556 units in the Brazilian market in 1Q09, of which
    2,227 were in the low income segment (up to R$150,000 each).
    
--  EBITDA Pro forma in 1Q09 was R$5.7 million, an increase of 229% when
    compared to 4Q08. EBITDA Pro forma Margin in 1Q09 was 16.41%.
    
--  Lopes achieved Net income Pro forma of R$3.1 million in 1Q09, 124%
    higher than in the 4Q08. Net Pro forma Margin in 1Q09 was 9.05%.
    
--  Lopes' Operating Costs and Expenses in 1Q09 fell by 36% when compared
    to 4Q08 due to the implementation of cost reductions in the second half of
    2008. Operating Costs and Expenses of launchings, excluding non-recurring
    items, were R$25.1 million
    

UPCOMING EVENTS

1Q09 RESULTS CONFERENCE CALL

Portuguese
Date: 5/15/2009, Friday
Time: 3:30 pm (Brasília) / 2:30 pm (NY)
Telephone: +55 (11) 4688-6301
Access code: Lopes
Replay: +55 (11) 4688-6312
Replay Access code: 804

English
Date: 5/15/2009, Friday
Time: 5:00 pm (Brasília)/ 4:00 pm (NY)
Telephone Brazil: +55 (11) 4688-6301
Telephone Other countries: +1 (786) 924-6977
Access code: Lopes
Replay: +55 (11) 4688-6312
Replay Access code: 102

To view the PDF version of the 1Q09 Earnings Release, please visit: http://mrm.comunique-se.com.br/arq/100/arq_100_8432.pdf

Contact Information: IR CONTACT Marcello Leone CFO and IRO Phone +55 (11) 3067-0015 Samia Nemer RI Coordinator Phone +55 (11) 3067-0257 Email: ri@lopes.com.br www.lopes.com.br/ri