1 Earnings Release 2005 Webcast - 03/10/2006

2 Highlights  EBITDA before IPO expenses was R$ million in 2005, an increase of 100% over  Cash advertising revenues (including brand, sponsored links, new products and excluding barter and traffic) totaled R$46.3 million in 4Q05 and R$46.3 million in 2005, an increase of 31%, when compared to In 4Q05 cash advertising revenues reached R$15.3 million, a 66% growth over 4Q04.  Advertising and other revenues totaled R$106.9 million in 2005, an increase of 24%, when compared to  We maintained leadership in audience among portals in Brazil: 1,308 million page views and average time spent online of 1:24:09 (hour.min.sec) according to IBOPE//NetRatings statistics as of December, 2005.

3 Highlights  UOL Busca closed 2005 with a monthly audience of more than three million unique home users, reaching the second place among search engines according to Ibope//NetRatings.  We signed an agreement with Fast Search, a leading company in search engine technology.  UOL won, for the second time in a row, “Most Admired Vehicle: Most Prestigious Brand” Award from Meio&Mensagem magazine.

4 Products In 4Q05:  We launched 1Gb mailbox for BOL users and 2Gb mailbox for UOL subscribers  We launched a new easy-to-use UOL search engine website with image search features  Sponsored links were added to channels such as Horoscope, Cinema, Body & Health, Technology, TV, Travel and Education  We launched UOL K, our community site  UOL Fone for non-subscribers  UOL PC Antivirus and UOL Firewall for non-subscribers

5 Operating and Financial Performance

6 Growth in Subscriber Base +16% +15%  Gross ARPU was R$27,6 in 2005; 2% growth over 2004 Subscription Gross Revenues (R$ millions) Paying Subscribers (thousands) +45% +11%

7 Advertising Revenue Growth  Growth in the online advertising market was 19,1% in 2005 (source: Intermeios) +24% +31% Gross Advertising Revenues (R$ millions) +86% +66% 86,1 106,9 19,7 36,5

8 Cost of Services Rendered Cost of Services Rendered (R$ millions) +23% +11%  Growth in broadband subscriber base  Implementation of customer care programme (CRM)

9 Operating Expenses -1% -10% Selling Expenses (R$ millions) -6% -21% G&A (R$ millions)  Reduction in advertising campaigns  Reduction in collection expenses

10 EBITDA* (R$ millions) and EBITDA Margin (%) Consistent EBITDA Growth *EBITDA before IPO expensess.  R$4,7millions in non-recurring tax credits  Excluding non-recurring items, 4Q05 growth of 15% over 4Q % +15% EBITDA margin

11 Balance Sheet

12 This presentation contains future considerations referring to the business perspective, operating and financial estimated results, and to UOL’s growing estimates. This are just projections and, as so, are based exclusively (only) on UOL’s administrative expectations for the future of the business and its continuous access to capital to financing the Company’s business plan. Such future considerations depend, substantially, on market conditions chances, governance rules, pressure of competition, of sector performance and Brazilian economy, among other factors, besides the risks presented by UOL on shelved documents of disclosure and are, for that reason, changeable with no previous notice. Disclaimer