2Q06 Results Conference Call Friday, August 11, 2006 Time: 11:30 a.m. (US EST) / 12:30 p.m. (Brasilia Time) Tel: +1 (973) / Code: Replay: +1 (973) / Code:

2 Substantial Growth of Operating Indicators (vs. 1H05) 35.8% growth of Consolidated Net Revenue EBITDA 34.4% higher (R$156.2 million) Operating Income 35% higher (R$116.1 million) Opening of 44 stores in the last 4 quarters (8 in 2Q06) Gross Revenue (R$641.8 million) 96% higher EBITDA Margin around 13% Capture of new sinergies from Shoptime incorporation Approval of the incorporation of Americanas.com remaining shares Americanas Taií regulation concluded Launching of Private Label and Personal Loan cards EBITDA R$ mn % H051H06 1H06 Operating Highlights

3 Gross Revenue Sales Area (thousand m 2 ): CAGR 01/06: 21.7% 1H011H021H031H041H05 2, H06 1, , % R$ mn CAGR 01/06: 7.9% % “Same Store Sales” Net Revenue Growth 1H05/1H06: 10.9%

4 Revenue per Associate (R$ thousand): 1H011H021H031H041H % 1H % 22.5% 23.5% 24.5% 27.4% -0.1 p.p. % of Net Revenue Operating Expenses Impacts: Shoptime Acquisition 44 New Stores CAGR 01/06: 21.6% %

5 EBITDA and EBITDA Margin 1H011H021H031H041H H % R$ mn 34.4% growth in 1H06 and margin maintenance at the same level Considers the implementation of two new businesses 3.4% 7.7% 9.4% 10.5% 10.0% 9.9%

6 Net Income 1H011H021H031H041H H Net Income R$ mn Adjusted Net Income* R$ mn % H051H06 *Excludes effects of non-operating results and income taxes / social contribution 7.4 Includes R$105.8 million Non-Operating Result

7 Financial Position Gross Debt R$ mn Stable Gross Debt Priorities of Cash allocation: R$315 million of investments, composed of: Shoptime acquisition Opening of 44 new stores Improvement of Operational and Tecnological Processes Capitalization of Americanas Taií Increase of equity participation on Americanas.com Payment of dividends: R$ 120 million Buy-back Program: R$ 25.9 million Net Debt of R$246.7 million on 06/30/06 Reduction of the ratio Net Debt/Equity of 2.3 p.p. 1H051H06 1, ,187.7

8 Launching of Private Label and Personal Loan cards in May/ thousand Private Label cards and 60 thousand Personal Loan cards issued Projection of 1 million cards in 12 months Sales made through Private Label card already represent 2.5% of parent company sales First Private Label to be accepted at the Internet Launching of cobranded card Americanas Itaú (Mastercard/Visa) in July and international version in 2H06 Americanas Taií Co-Branded international card (Visa/ MC) Co-Branded card (Visa/ MC) Personal Loan card Private Label card 2H06 July/2006 May/2006

9 First management month, synergies initially projected: R$ 49 mn (present value) In 10 months, synergies already captured, “best practices”: R$ 160 mn (present value) Investments in Shoptime acquisition: R$117.8 mn (3,5 x EBITDA 2006 projected for Shoptime) 1H06 Consolidated Gross Revenue: R$641.8 million – 96% higher than 1H05 Consolidated EBITDA grew by 93%, with EBITDA Margin around 13% of NR Americanas.com / Shoptime

10 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. MSCI Logo: The use of Morgan Stanley Capital International Inc.´s ("MSCI") trademarks and index names does not constitute a sponsorship, endorsement or promotion by MSCI, any of its affiliates, any of its information providers or any other third party involved in, or related to, compiling, computing or creating any MSCI index. The MSCI indices are trademarks of MSCI or its affiliates and have been licensed for use for certain purposes by Lojas Americanas S.A.

Investor Relations Murilo Corrêa Phone: (+55 21) / Fax: (+55 21) IR website: