1. “We Always Want More” LOJAS AMERICANAS S.A. March 2007

2. “We Always Want More”  R$ 5.02 billion Consolidated Gross Revenue in 2006  Market Cap of US$ 4.0 billion (R$ 8.7 billion) – March/2007  Consolidated EBITDA Margin 12.0% (2006)  Consolidated Net Income 2006: R$ 123.5 million  Brazilian leader in sales of CDs, DVDs, cookies, chocolates, candies, toys, lingerie  Prominent position in Brazil’s retail sector  Leading position in LATAM Internet (B2W – Companhia Global do Varejo)  Personal loans and consumer credit offering (Financeira Americanas Itaú)  10.3 thousand employees (Parent Company)  Awards:  Agência Estado Destaque Empresas 2005 (The Best performance for the shareholders)  Folha de São Paulo “Top of Mind 2005”  Revista Exame - “Melhores e Maiores”  Forbes Brasil - “Platinum List 200”  iBest “Best Ecommerce Site” – Popular Jury Company Overview

3. “We Always Want More” Lojas Americanas Timeline 1929’82’98 ’99’40 78 years old ’05 Lojas Americanas Foundation Lojas Americanas goes public (IPO) Garantia’s Bank partners Focus in the core business (IT/Logistics) Lojas Americanas Turnaround Americanas.com Creation 2001 Americanas Express Project ’03’06’07 Acquisition of BWU and License Agreement to use BLOCKBUSTER® trademark in Brazil (Addition of 127 new stores) 37 new stores Shoptime Acquisition Americanas Taií Creation Record Organic Growth 45 new stores B2W Creation (Americanas.com + Submarino)

4. “We Always Want More” Fronts of Growth Bricks-and-Mortar Multi-channel Retailer Financial ProductsEcommerce, TV, Telephone Sales and Catalogues Publicly Listed Company Market Cap. US$4.0 billion Publicly Listed Company Market Cap. US$3.6 billion 53.25% 50.00%

5. “We Always Want More” Multi-Channel Retailer Nort h 3 MidWest 29 South 42 Southeas t 251 Northeas t 41 Bricks-and-Mortar DC PE 22,900 m² DC RJ 35,500 m² DC SP 53,000 m² March, 06 2007 w Bricks-and-mortar w 366 stores w 206 traditional - avg. 1,500 m 2 w 33 express - avg. 400 m 2 w 127 new stores (BLOCKBUSTER®) avg. 150 – 450 m 2 w Movie Rental Service w Average Ticket: R$ 25.7 w Customer Profile: w 1.8MM customers/day in events w 77% women - Middle class

6. “We Always Want More” Traditional Model Express Model  Sales Area: approximately 1,500 m 2  Location (target): - Shopping Centers / Places with high circulation  Headcount: 50/60 employees/store  Logistics: daily reposition  Assortment: average of 60,000 items  Sales Area: approximately 400 m 2  Location (target): “Neighborhood Stores” - High Traffic / premium locations  Headcount: 10 employees/store - low costs  Logistics: “Just-in-Time”  Assortment: approximately 15,000 items Stores’ Layout - The World’s Concept LeisureBeautyHouseholdChildrenClothing Food (convenience) Bricks-and-Mortar

7. “We Always Want More” Acquisition of BWU The transaction Acquisition of BWU for R$ 186.2 million to be paid in May 24, 2007 License agreement with Blockbuster International Inc. to use the BLOCKBUSTER® trademark, for a term of 20 years Value Creation for the Company Fast expansion of the chain of stores (127 stores/32 thousand m 2 in sales area) Stores located in busy areas with access to the A-B income groups More assortment in the new stores Operational synergies (buying, logistics, systems) 330 thousand active clients Opportunities for professional development

8. “We Always Want More” Americanas Express/BLOCKBUSTER® Model  Format created in 2003  Total of 32 stores (RJ/SP and PE)  Sales area of approximately 400 m 2 per store  Selected assortment (15 thousand sku’s)  Bomboniere, cookies, toys, beauty, household, electronics, CDs/DVDs, among others.  Format created in 1995  Well located stores with access to A and B income groups  Stores with sales areas between 150-450 m 2 (32 thousand m 2 )  DVDs/games rental and offer of entertainment products Adaptation of the new stores’ assortment Use of BLOCKBUSTER® trademark for movie/game rental Integrated Rental Service among stores

9. “We Always Want More” 105 8 10 4 Great SP 59 Great RJ 21 BH 6 Other cities 19 South-East +105 Fortaleza 4 North-East +4 Curitiba 6 Porto Alegre 3 Other cities 1 South +10 DC 6 Goiânia 2 Mid-West +8 N° Stores Sales Area (thousand m 2 ) 238 372.1 127 32.1 364 404.2 Total 364 404.2 53.6% 8.6% Growth 53.6% 8.6% January, 2007 Corporate Growth = +127 stores

10. “We Always Want More” Business Strategy

11. “We Always Want More” Business Strategy Population: over 180 million Number of mobile phones: 90 million Credit cards: over 50 million Internet users: over 20 million Over 5,500 Brazilian cities Brazil in figures Opportunities

12. “We Always Want More” options via Internet, telesales, catalogs and TV to a potential public of 43 million Brazilians. Growth Potential Opportunities Business Strategy

13. “We Always Want More” Expansion Pillars Number of inhabitants Integration of locations and logistics Presence of other players Consumer Profile Bricks and Mortar Business 45 Signed contracts 17 Stores opened 2 Under negotiation Business Strategy ?

14. “We Always Want More” 13 4 2 Bricks and Mortar – Expansion 2007 Teresópolis - RJ Rio de Janeiro - RJ 1 Traditional + 1 Express Itaipava – RJ Express São Vicente - SP Paulínia – SP São José do Rio Preto – SP Bauru - SP Juiz de Fora - MG Gov. Vallasares - MG 2 Traditional São Paulo - SP 1 Traditional + 1 Express Northeast Region Southeast Region Mossoró – RN Recife-PE Express Ponta Grossa - PR Santa Maria - RS Balneário Camboriú - SC Foz do Iguaçu - PR As of March, 2007: 2 stores opened 17 contracts signed South Region Stores Opened in 2006: Business Strategy North Region

15. “We Always Want More” New Stores Praça SHC - São José do Rio Preto/SP - Nov. 2006 Shc Cariri – Juazeiro do Norte/CE - Nov. 2006 Marechal Floriano – Curitiba/PR - June 2006 Av. Sr. dos Passos – Feira de Santana/BA - Aug. 2006

16. “We Always Want More” w eCommerce w eCommerce websites, telephone sales, Catalogues and TV channel (19MM antennas) w LATAM - 1 st in on-line sales w Complementary Assortment w Exclusive and differentiated products www.americanas.com.br www.shoptime.com.br www.submarino.com.br Multi-Channel Retailer 7 MILLION CUSTOMERS + 200 countries around the world B2W - eCommerce

17. “We Always Want More” Product Categories Brands Distribution Channels  TV  Kiosks  Internet  Catalogs  Electronics  Home appliances  Cine & Photo  Computers / IT  CD / DVD / VHS  Books  Telecom  Bed & Bath  Sports & Leisure  Tools  Games  Musical Instruments  Toys  Babies  Jewelry  Office Supplies  Perfumes  Wine & Cia  Tennis  Automotive  Fashion  Vitamins  Fine Gifts Services  Gift wrapping  Wish List  Personalization  Same Day Delivery  Photo Printing  Ring Tones  Online music  Online Tickets  Flowers Leading e-Commerce Company in Brazil

18. “We Always Want More” Performance Growth (1) Proforma consolidated information Submarino and Americanas.com B2W Key Operating and Financial Highlights Gross sales (R$ in million) +240 bp +150 bp EBITDA (R$ in million) +460 bp 200120022003200420052006 CAGR 72% +40 bp

19. “We Always Want More” Drivers of B2W’s Growth Retail Growth eCommerceGrowth New Products & Categories Data Mining & eCommerce Services 3 2 1 4 5 6 7OnlineTravel Consumer Finance B2W - Multiple Growth Drivers International Expansion

20. “We Always Want More” w Financial Products Joint-venture w/Banco Itaú 248 stores (238 inside Lojas Americanas’ stores) Products: Personal Loans Private Label cards(Consumer Credit) Co-branded cards Multi-Channel Retailer + 10 own stores FRONTS OF GROWTH Nort h 3 MidWest 22 South 31 Southeas t 145 Northeas t 37

21. “We Always Want More” Co-Branded International Card (Visa/ MC) September, 2006 Co-Branded Card (Visa/ MC) September, 2006 Personal Loan Card May,2006 Private Label Card May,2006 w Joint Venture LASA - BANCO ITAU w JV will enable credit access for over 40 million brazilians without bank accounts w Personal Loans, Consumer Credit, Private Label and Co- branded Cards w 420,000 Private Label cards and 253,000 Personal Loan cards. Represents about 3.0% of total parent company sales w First private label card accepted on the Internet. w Benefits w Selling Expenses reduction (fees) w Improvement in consolidated Working Capital w LASA´s Capital Gain: R$ 200 million (50% of JV) BUSINESS STRATEGY w Forms of Payment (2006) Lojas Americanas (bricks) Consolidated 56% Credit Card 55% Cash 43% Cash 44% Credit Card 1% Checks 1% Other

22. “We Always Want More” Lojas Americanas in Figures

23. “We Always Want More” Better Operating Efficiency (vs. 2005)  Consolidated Gross Revenue of R$ 5.020 billion – an increase of 38%  Net Revenue – “Same Store Sales” growth of +12.8%  Gross Margin of 30.8% - 50 basis points higher  Operating Income of R$ 368.7 million – up on 38%  Consolidated EBITDA of R$455.1 million – up on 38%  EBITDA margin of 12.0%, maintaining the same level as 2005  Gross Revenue per associate grew 26% OPERATING HIGHLIGHTS – 2006

24. “We Always Want More” LOJAS AMERICANAS IN FIGURES CAGR: 18.7% Gross Revenue (R$ Million) Gross Revenue (R$ Million) Same Store Sales growth (NR) 16.4% Growth 38.5%

25. “We Always Want More” CAGR: 96.1% LOJAS AMERICANAS IN FIGURES 0.6%NR 12.0%NR Consolidated EBITDA (R$ Million) Growth 34.8%

26. “We Always Want More” CAGR: 20.5% LOJAS AMERICANAS IN FIGURES Gross Revenue per Associate (R$ thousand)

27. “We Always Want More” Priorities of Cash Total2001-2006: R$ 580.2 MM 38% EBITDA  Expansion Program and Investments  Technology and Operations  Store openings and remodeling  People - capacitating the associates  Share Buy-Back and Dividends Program  EVA ® Oriented Dividends Payment and Share Buy-back Program (R$ million) Dividends Payment Share Buy-back Store Opening Evolution Stores opened 45 2005 - Shoptime Acquisition R$ 117 million 2005 - Shoptime Acquisition R$ 117 million

28. “We Always Want More” This presentation contains forward-looking statements. Such statements are not statements of historical fact, and reflect the beliefs and expectations of the Lojas Americanas’management. The words "anticipates", “wishes”, “expects”, "estimates", “intends", "forecasts", "plans", "predicts", "projects", "targets" and similar words are intended to identify these statements, which necessarily involve known and unknown risks and uncertainties. Known risks and uncertainties include, but are not limited to, the impact of competitive products and pricing, market acceptance of products, regulatory environment, currency fluctuations, supply difficulties, changes in product sales mix, and other risks. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments. 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 indexes are trademarks of MSCI or its affliates and have been lincensed for use for certain purposes by Lojas Americanas S.A. “WE ALWAYS WANT MORE” “We will continue to pursue our learning path and to overcome obstacles, and this makes us enthusiastic since it will enable us to achieve new levels of results, always seeking to better meet our customer’s needs”.