Conference Call – 1Q07 Results Conference Call – 1Q07 Results: Friday, May 11th 2007 Time: 1 pm (US EDT) / 2 pm (Brasília) Phone: +1 (973) Code: Replay: +1 (973)

2 Current number of stores: 368 (409 thousand m 2 of total sales area) Acquisition of BWU – the company that uses the BLOCKBUSTER® mark in Brazil – in January 2007, adding 127 stores to the Company’s store network, equivalent to 32 thousand m 2 1Q07 Overview Results from B2W, company created through the merger of Americanas.com and Submarino in December 2006, were fully consolidated in 1Q07 B2W operates through three client service channels – Americanas.com, Shoptime and Submarino. Position at 1Q07: 249 points of sale – 239 within Lojas Americanas and 10 own stores More than 780 thousand issued cards and financing volume of R$196 million Bricks-and-Mortar E-commerce Financial Products

3 Strong Operating Growth (1Q07 x 1Q06) Same-store gross revenue growth of 11.5% (Jan-Apr ’07 vs. ’06) Gross Revenue per Associate reached R$ thousand, 30% higher EBITDA of R$126.1 million, an increase of 68% / EBITDA Margin up 0.3 p.p. Operating results 63% higher (R$ 90.7 million) Investments at the parent company totaled R$ 22 million Expansion Jan-Mar 07: Inauguration of 2 stores – 1 Traditional and 1 Express B2W – Companhia Global do Varejo: Gross Revenue grew by 57% and EBITDA grew by 76%, reaching a 12.9% EBITDA margin (+1.6 p.p.) Synergies of over R$ 880 million (DCF) = +10% of initial estimates BWU: Synergies of over R$ 100 million Operating Highlights 1Q07 EBITDA in R$ Million + 68% 126,1 1Q061Q07 75,1

, Q021Q031Q041Q051Q061Q07 Consolidated Gross Revenue (R$ million) CAGR 02/07: 29.2% Consolidated Gross Revenue % Same Store Gross Revenue Growth Jan-Apr ‘07 vs. ‘06: +11.5%

5 Gross Margin (% of NR) Gross Margin Q021Q031Q041Q051Q061Q p.p.

6 Consolidated Gross Revenue per associate (R$ thousand): Operating Expenses (% of NR) 1Q071Q031Q041Q05 1Q % Operating Expenses Number of stores Q021Q031Q041Q051Q061Q07 98

7 EBITDA and EBITDA Margin (R$ million and % NR) 1Q07 x 1Q06 – EBITDA grew by 67.9% and EBITDA margin increased 0.3 pp + 67,9% Consolidated EBITDA and EBITDA Margin Q021Q031Q041Q051Q061Q07 Mrg. EBITDA % NR EBITDA R$ million %

8 Debt / Net Cash Dividends and Interest on own capital - R$ 100 MM Share buy-back - R$ 56 MM Investment at the Parent Company - R$ 116 MM Main uses of Cash From 04/1/06 to 3/31/07

9 B2W  57% growth of gross revenue, reaching R$740 million.  Gross margin is up from 30.4% in 1Q06 to 30.7% in 1Q07, an increase of 0.3 p.p.  76% EBITDA growth. EBITDA margin increased from 11.3% in 1Q06 to 12.9% in 1Q07.  Mapped synergies superior to R$ 800 million. In the first three months of 2007, operating and financial synergies have been mapped, which, based on the discounted cash flow analysis (DCF), represent an amount close to R$ 882 million, 10% higher than our initial estimates.

10 Americanas Taií Focus on increasing credit and financial services offer to Lojas Americanas’ clients, besides facilitating payment terms at bricks-and-mortar stores and Americanas.com 249 points of sale at the end of 1Q07, including 10 own stores. 783 thousand issued cards:  Private Label: 459 thousand  Personal Loan: 275 thousand  Co-Branded Credit Card: 49 thousand Financing volume of R$ 196 million as of March 31 st 3007

11 Share Performance – 1Q07 Appreciation of 8.8% (LAME4) and 15.9% (LAME3) vs. 3.0% of IBOVESPA Higher liquidity - LAME4’s traded volume jumped by 82.7% LAME3 and LAME4 inclusion in ITAG stock index

Priorities  Growth of “same-store” sales and operating cash generation through continuous operational improvement;  Continued expansion of the bricks-and-mortar store network;  Optimization of B2W operations (Americanas.com, Shoptime and Submarino);  Adjustment of the assortment in the BLOCKBUSTER® stores, the offer of new products, and captured synergies of R$ 117 MM (in the first months of management);  Emphasis on associate training and improvement of the IT and logistics structure to help the Company face the challenges posed by its growth trajectory.

13 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.

Varejo Multicanal 53.25% 50.00% Bricks-and-MortareCommerce, TV, Telephone Sales and Catalogues Financial Products Multi-channel Retailer Conference Call – 1Q07 Results: Friday, May 11th 2007 Time: 1 pm (US EDT) / 2 pm (Brasília) Phone: +1 (973) Code: Replay: +1 (973)