Rodobens Announces Second Quarter Results

SAO JOSE DO RIO PRETO, Brazil, Aug. 6 /PRNewswire-FirstCall/ -- Rodobens Negocios Imobiliarios (Bovespa: RDNI3), real estate developer with more than sixteen years of operations and focus on cities in the interior of Brazil, announces today its results of the second quarter of 2008 (2Q08).

The financial and operating information are presented in Brazilian Reais (R$) on a consolidated basis in accordance with the Brazilian standard accounting practices (BRGAAP).

2Q08 Financial and Operating Highlights

-- New Sales Contracts of R$190 million (Rodobens' share only), net of cancellations, a 23% growth over the previous quarter. In the first half of 2008 (1H08), New Sales Contracts reached R$343 million (Rodobens' share only), 379% higher Y-o-Y (1H07).

-- 2,168 units sold (vs. 310 in 1Q07), of which 91% had a selling price up to R$150,000. In 1H08, there sold 4,260 units.

-- Project Launches(1) of R$211 million (Rodobens' share only), reaching R$405 million in 1H08 and 50% of the new target for full year 2008 (R$815 million).

-- 2,538 units launched in 2Q08, of which 93% had a selling price up to R$150,000. In 1H08, 5,180 units launched.

-- Net Revenue of R$103 million(2), 52% higher than 1Q08 and 369% higher than 2Q07. In 1H08, net revenue accumulated R$171 million(2).

-- EBITDA rose to R$25 million(2), with margin of 24.2% of net revenue. In 1H08, accumulated EBITDA was R$37 million(2), with a margin of 21.8%, already including the negative impact of interest expenses recorded as cost of projects (2.1% of net revenue).

-- Net income of R$26 million(2), accumulating R$42 million(2) in 1H08, resulting from the growing operating profit.

-- Cash balance of R$182 million and bank debt(3) of R$99 million as of June 30, 2008, representing important liquidity position for working capital in the short term.

(1) Potential total sales value, estimated at launching. (2) Pro forma figures, adjusted according to new mandatory practices applicable to current year 2008, as per CVM Instruction #469 as of 05/02/08 and IBRACON's Technical Notice #5 as of 07/04/08. Further explanation can be found in the full earnings release and in Explanatory Note 2.1 of the ITR (mandatory quarterly filing with the CVM). (3) Comprised only of construction financing, with funding from the SBPE (bank savings accounts). 2Q08 Earnings conference calls: Portuguese August 7, 9:00am (ET) Tel.: [phone] Access code: Rodobens English August 7, 11:00am (ET) Brasil: 55-11-4688-6301 EUA: 1-888-700-0802 Other countries: 1-786-924-6977 Access code: Rodobens Contacts: Investor Relations Orlando Viscardi Tel.: [phone] E-mail: [e-mail]