1 1

2 2 The Company Brazils largest discount retailer Brazils largest discount retailer R$ 2,9 billion Gross Revenue in 2004 R$ 2,9 billion Gross Revenue in Stores in 20 states 159 Stores in 20 states (70% of the Brazilian states) (70% of the Brazilian states) 65% of Stores located in Shopping Malls 65% of Stores located in Shopping Malls 61% of Stores in the Southeast Region 61% of Stores in the Southeast Region 8.5 thousand employees 8.5 thousand employees An average of 700,000 customers, up to 1,5 million customers/day in the events An average of 700,000 customers, up to 1,5 million customers/day in the events An average of 50,000 Sales Items/skus per store An average of 50,000 Sales Items/skus per store 295,8 thousand m² of retail floor 295,8 thousand m² of retail floor (Growth of 12.6% over 1T04) (Growth of 12.6% over 1T04)

3 3 Stores Location Southeast Region 24 South Region 14 Middle-West Region 22 Northeast Region 2 North Region N° Lojas Área de Venda (mil m 2 ) ,4 10 4,4 1.3% 8.8% 13.8% 61.0% 15.1%

4 4 LASA Customer Profile Lojas Americanas: R$ Lojas Americanas: R$ Americanas.com: Americanas.com: Average Ticket 77% Women 77% Women 81% A-B-C Social Class 81% A-B-C Social Class Means of Payment 58% Cash 6% Others 7% Payments Form 40% Credit Card 2% Checks Daily Store Replenishment Daily Store Replenishment NEW São Paulo DC NEW São Paulo DC DC RJ DC SP DC PE Logistics The Company Lojas AmericanasAmericanas.com Recife - PE 22,900 m² Rio de Janeiro - RJ 35,500 m² São Paulo - SP 53,000 m² DISTRIBUTION CENTERS Additional Capacity of 50% 87% Credit Card B2C/B2B R$

5 5 food (convenience) beauty household leisure children lingerie cosmetics fragrances socks&kerchiefs make-up Store Lay-Out: The WORLDS Concept cookies, chocolates & candies Easter & Christmas CDs & DVDs stationers birthday accessories toys childrens clothing babies clothing baby accessories diapers bed&bath decoration/presents electric appliance kitchen sports snack bar bakery grocery greengrocers shoes & luggage clothes complement adult clothing jeans OURWORLDS The assortment is grouped according to its final use. clothing

6 6 - Brand Loyalty - Bargaining Power - Services to our clients - Low Cost - Great Brands Assortment - Presence in large customer centers - Quickness on the reposition of items - Decision Making Instruments Competitive Advantages

7 7 Lojas Americanas Group Traditional Model Express Model Sales Area: approximately 1,500 m 2 Sales Area: approximately 1,500 m 2 Location (target): Location (target): - Shopping Centers / Places with - Shopping Centers / Places with high circulation high circulation Headcount: 50/60 employees/store Headcount: 50/60 employees/store Logistics: daily reposition Logistics: daily reposition Assortment: approx. 50,000 items Assortment: approx. 50,000 items Sales Area: approximately 500 m 2 Location (target): Location (target): - Neighborhood Stores - Neighborhood Stores - Stores in distribution routes/ - Stores in distribution routes/ good location good location Headcount: 10 employees/store Headcount: 10 employees/store - Low costs - Low costs Logistics: Just-in-Time Logistics: Just-in-Time Assortment: approx.15,000 items Assortment: approx.15,000 items

8 8 Lojas Americanas Group SUBSIDIARY (80.4%) Latin Americas #1 E-retailer Latin Americas #1 E-retailer More than 3 million unique visitors per month More than 3 million unique visitors per month 22% of Brazils Market-Share 22% of Brazils Market-Share 50% of Brazils virtual consumers 50% of Brazils virtual consumers Multi Channel Multi Channel

9 9 Personal Credit / Loans Personal Credit / Loans 20 years in the market 20 years in the market 179 points of sale 179 points of sale Lojas Americanas Group 159 stores inside Lojas Americanas SUBSIDIARY (100.0%) Web-site Web-site Online loans Online merchandise financing (Americanas.com) 20 own stores Lojas Americanas Private Label Card Lojas Americanas Private Label Card

10 10 Companys Timetable è I.P.O è Foundation è Garantia Partners acquires Companys Control è Decision to divest supermarket stores è Restructure Program Kick-off: è Americanas.com reaches Break Even status è LASA Consolidated Net Income: R$ million Technology Focus Project Logistic Project SAP Project Automatz Project è JUL/ São Carlos Spin-Off è NOV/ Americanas.Com Launch è First Round of Financing Americanas.com : Sale of 33% Stake for US$ 40 million (Total Valuation of US$ 120 million) US$ 40 million (Total Valuation of US$ 120 million) LASA Consolidated Net Income: R$ (19.9) million LASA Consolidated Net Income: R$ (19.9) million Americanas.com becomes #1 E-Retailer Americanas.com becomes #1 E-Retailer è LASA Cost Reduction + Margin Expansion è LASA Consolidated Net Income: R$ 57.1 million è Acceleration of Expansion Program (13 traditional stores opened) è Americanas Express Project (3 neighborhood stores opened) è LASA Consolidated Net Income: R$ million Number of Stores Stock Price 86 LAME45,85 90 LAME47,00SCAR44,11 94 LAME43,55SCAR44,00 98LAME44,05SCAR46,50 105LAME49,20SCAR48,50 121LAME430.51SCAR d 9.21 d EBITDA (% NR) -0.9% 2.0% 0.6% 9.1% 11.2% 6.2% %LAME440.60SCAR è Acceleration of Expansion (35 stores opened) è LASA Consolidated Net Income: R$ 64.1 million

11 11 Velame 56.5% GWI Emp. / Tobias Cepelowicz / Mu Hak You 20.9% Free Float 25.4% Free Float 97.8% Treasury 1.7% Treasury 2.2% Free Float Foreign Investors 4.4% 30.2% Foreign Investors MARKET CAP (April 30, 2005) US$ 3.3 Billion COMMON SHARES (ON) PREFERRED SHARES (PN) Velame* 0.0% * Includes Controlling Shareholders as natural people. * On May 2005

12 12 LAME4 X IBOVESPA LAME4 R$ 44,70 03/31/2005) IBOVESPA Agência Estado/ Economática Ranking 1 st PLACE R$ 3.63 R$ 4.06 R$ 9.00 R$ Stock Performance - LAME R$ 53,00

13 13 Results

14 14 Gross Revenue (R$ MM) Gross Margin (%NR) Annual Gross Revenue and Margin Quarterly 26.8% 42.2% 0.7 pp Quarterly Effect Easter Effect Easter

15 15 Annual 28.0% 44.7% Operating Results (R$ MM) Annual 0.1 pp 2.2 pp Quarterly Operating Expenses and Results Sales, General and Administrative Expenses (%NR) Quarterly

16 16 EBITDA (R$ MM e % NR) Annual 0.9 pp Annual 0.3 pp Net Income (R$ MM) Quarterly EBITDA and Net Income Quarterly 116 %

17 17 Annual Lojas 105 Lojas Growth of 30.0% comparing 1Q05 vs. 1Q04 8,483 associates in 1Q05 Lojas Productivity Revenue per Associate (R$ thousand) Headcount X Number of Stores

18 18 Total : R$ MM ? Uses of Cash Expansion Program Expansion Program Technology and Operations Technology and Operations New Stores openings Store Remodeling people - capacitation of the associates people - capacitation of the associates Share Buy-Back and Dividends Program Share Buy-Back and Dividends Program EVA ® Oriented EVA ® Oriented Dividends Payment and Share Buy-back Program (R$ million) Dividends Payment Share Buy-back Store Opening Evolution 11 Stores opening Stores programmed Stores negotiation 22

19 19 Northeast Region Southeast Region Region Middle-West Goiânia - GO - Araguaia Shc. Region South Natal - RN Campina Grande - PB Rio Grande do Sul - RS - Canoas SHC 1 Niterói - RJ - Express Bay Market Juiz de Fora - MG - Alameda SHC Belo Horizonte - MG - Pátio Savassi São Paulo - SP - SHC Metro S. Cruz São Paulo - SP - SHC Butantã São Paulo - SP - Express Joaquim Nabuco São Paulo - SP - Jardim Sul SHC. Rio de Janeiro - RJ - Express Olegário Maciel Barueri - SP - SHC Tamboré 4 4 Stores Expansion Brasília - DF - Águas Claras Shc. 3 lojas inauguradas

20 20 EXPANSION TECHNOLOGY PEOPLE Investiments SAP Upgrade SAP Upgrade Barra Shopping store - RJ Growth organic Stores Traditional and Express Growth organic Stores Traditional and Express e-commerce e-commerce Technology Update Employees training programs New Talents Program New Talents Program

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