Conference Call 2Q08 and 1H08 Earnings Release Friday, August 08, 2008 Time: 01:00 p.m (US EDT) 02:00 p.m (Brasília) Connection: +1 (888) (USA) +1 (786) (Other countries) Code: LASA Replay: +55 (11) Code: 535 Bricks-and-MortarInternet, TV, Telesales, catalogues and kiosks Financial Products Multi-channel Retailer

1 419 stores as of August 07, 2008 – total sales area of 448 thousand m 2 ; 2008: 9 Inaugurations, 4 traditional stores, 5 express stores; Besides inaugurated stores, we already have 44 openings scheduled, 28 in the Traditional format and 16 in the Express format ; Gross revenue reached R$ 2.1 billion in 1H08, a 39% growth compared to 1H07. EBITDA growth of 50% in 1H08, reaching an EBITDA margin of 14.2% (+1.0 pp) in 1H08; More than 1.6 million cards issued and 100% of total receivables volume of R$330 million (LASA’s participation is equivalent to 50% of the total volume); Americanas Taií Cards represented 9.6% of Lojas (parent company) sales by the end of July 2008; Bricks-and-Mortar E-commerce Financial Products 2Q08 and 1H08 Overview

Consolidated Gross Revenue (R$ million) 2 Growth “SSS” NR 14.7% in the first half of % Parent Company Gross Revenue (R$ million) 28.1% CAGR 1H02 to 1H08 = 31.6% CAGR 1H02 to 1H08 = 19.2%

pp Parent Company Gross Margin (%NR) Gross Margin and EBITDA - Parent Company Parent Company Operating Expenses without Depreciation & Amortization (%NR) pp EBITDA (R$ million and %NR) Parent Company 27.1 % EBITDA Margin stands at the same level, even with the following effects: Greater participation in sales of IT products Change in ICMS tax system Greater Easter sales

4 Operating Income - Parent Company Inauguration of 52 new stores over the last 12 months Expansion of the Distribution Centers Remodelling of Blockbuster ® stores Parent Company Operating Income 1H07%NR1H08%NR Gross Profit % % Operating Expenses SG&A % % Deprec. & Amort. excl. amort. goodwill % % Op. Income excl. goodwill effect % % Goodwill Amort. from merger/repurchase B2W % % Parent Company Operating Income % %

- 1.2 pp Consolidated Gross Margin (%NR) EBITDA (R$ million and % NR) Consolidated CAGR = 37.3 % 35.5% Change in ICMS tax System Consolidated Operating Income 1H07 %NR 1H08 %NR Gross Profit % % Operating Expenses SG&A % % Deprec. & Amort. excl. amort. goodwill % % Op. Income excl. goodwill effect % % Goodwill Amort. from merger/repurchase B2W % % Parent Company Operating Income % % Gross Margin and EBITDA - Consolidated

6 Financial Result Net Financial Result 1H08, considering subsidiaries effects and before B2W: growth of 12.3% vs. Growth of Parent Company’s Net Revenue of 27.0% R$ 77.2 million in the opening/refurbishment of stores, expansion and modernization of our Distribution centers, payment of dividends, repurchase of LAME4 e LAME3 by Lojas Americanas and repurchase BTOW3 by B2W.

Indebtedness 1H08 7 From 07/01/2007 to 06/30/2008: Consolidated Investments in fixed, deferred and intangible assets of R$ 379.7MM Payment of dividends of R$ 50.0MM Share buy-backs (LAME3 and LAME4) in the amount of R$ 20.7MM Purchase of BTOW3 in the amount of R$ 98.5MM

Reconciliation of the net income Parent Company 8

Consolidated Net Income without FAI and B2W effects 9

Expansion and Investment Programs Creating value for our Shareholders Share buy-back Dividend payment Dividends Payment and Share Buy-back Program (R$ million) Total : R$ 728 MM 33% EBITDA 10 Over the last six years: - doubled the sales area and more than quadrupled the number of stores - CAGR of 32%in Gross Revenues and CAGR of 38% of Consolidated EBITDA - Payment of dividends and buy back program totaling R$728MM - Acquisition of Shoptime, creation of B2W, merger of Americanas.com and Submarino, and acquisition of BLOCKBUSTER network - Creation of FAI(Financeira Americanas Itaú), generating capital gains of R$200MM.

Statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Lojas Americanas, eventually expressed in this release, are merely projections and, as such, are based exclusively on the expectations of Lojas Americanas ’ management concerning the future of the business and its continued access to capital to fund the Company ’ s business plan. Such statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and are, therefore, subject to change without prior notice. Investor Relations Team Tel.: + 55 (21) Fax: + 55 (21) IR Website: