Conference Call 1Q08 Earnings Release Conference Call – 1Q08 / 2008 Friday, May 09th, 2008 Time: 01:00 p.m (US EST) 02:00 p.m (Brasília) Connection: +1 (888) (USA) +1 (786) (Other countries) Code: LASA Replay: +55 (11) Code: 918 Bricks-and-MortarInternet, TV, Telesales, catalogues and kiosks Financial Products Multi-channel Retailer

1 414 stores as of May 08, 2008 – total sales area of 443 thousand m 2 ; 2008: 4 Inaugurations, 2 traditional stores, 2 express stores, and 6 BWU/BLOCKBUSTER® stores remodeled; Besides inaugurated stores, we already have 36 openings scheduled, 29 in the Traditional format and 7 in the Express format ; Gross revenue reached R$ 1,029 million, a 39% growth compared to 1Q07; EBITDA growth of 50%, reaching an EBITDA margin of 13.9% (+1.0 pp); More than 1.3 million cards issued and 100% of total receivables volume of R$285.1 million (LASA’s participation is equivalent to 50% of the total volume); Bricks-and-Mortar eCommerce Financial Products 1Q08 Overview

2 Consolidated Gross Revenue (R$ million) CAGR = 30.5% Consolidated Gross Revenue (R$ million) “SSS” growth NR 14.0% in the first four months of the year 37 %

3 Consolidated Gross Margin (%NR)Consolidated EBITDA (R$ million) and EBITDA Margin (%NR) CAGR = 37.9% Gross Margin and EBITDA Consolidated -2.1 pp 46 %

4 Indebtedness

Expansion and Investment Programs Creating value for our Shareholders Share buy-back Dividend payment Dividends Payment and Share Buy-back Program (R$ million) 2005  Shoptime Acquisition  FAI Creation  37 Inaugurations 2007  Blockbuster acquisition (127 stores)  Blockbuster remodeling  50 inaugurations 2006  B2W Creation  45 Inaugurations Total : R$ MM 32% EBITDA Share buy-back program open since 2003:  ON: 8,204,509 shares (limit: 10,788,942) >> 2,584,433 shares to be repurchased  PN: 17,497,213 shares (limit: 36,505,323) >> 19,008,110 shares to be repurchased 5

Conference Call 1Q08 Earnings Release 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: