Conference Call - 2007 Earnings Release

Conference Call – 4Q07/2007 Results:

Friday, March 07th, 2008:

Time: 12:00 a.m. (US EST) 02:00 p.m. (Brasilia)

English Tel: +1 (888) 700.0802 (USA)

+1 (786) 924.6977 (Other countries)

Code: LASA

Replay: +55 (11) 4688.6312

Código: 952

Multi-channel Retailer

Bricks-and-Mortar Internet, TV, Telephone Sales and catalogues Financial Products

2

413 stores as of December 31, 2007 – total sales area of 443 thousand m2;

2007: 50 Inaugurations (28 traditional stores , 22 express stores), and 107 BWU/BLOCKBUSTER® stores

remodeled;

For 2008, 1 store has already been inaugurated, 25 stores have opening contracts signed and another 11 are in

the signature process;

2007 Overview

On November 7, CADE approved without restrictions the creation of B2W, merger between Americanas.com and

Submarino.

Pro-forma growth of 46% in gross revenue, reaching R$3.6 billion in 2007;

Pro-forma EBITDA growth of 66% in 2007 vs. 2006, reaching an EBITDA margin of 13.9% (+1.8 pp);

More than 1 million cards issued and 100% of total receivables volume of R$268 million (LASA’s participation is

equivalent to 50% of the total volume);

Bricks-and-Mortar

eCommerce

Financial Products

Consolidated Gross Revenue (R$ million)

3

Consolidated Gross Revenue (R$ billion) Accumulated

7.722

5.020

3.6402.949

2.3251.918

2002 2003 2004 2005 2006 2007

“SSS” growth NR

12.8%53.8%CAGR = 32.1%

719.5

455.1

330.9274.7

217.6142.8

12.6%12.0%12.0%12.1%

9.1%

11.2%

2002 2003 2004 2005 2006 2007

Gross Margin and EBITDAConsolidated

4

30.830.3

30.930.2

29.5

32.0

2002 2003 2004 2005 2006 2007

+ 1.2 pp

Consolidated Gross Margin (%NR) Accumulated

Consolidated EBITDA (R$ million) and EBITDA Margin (%NR) Accumulated

CAGR = 38.2%

LAME4 X Ibovespa

2001 2002 2003 2004 2005 2006 2007

LAME4 IBOVESPA

• LAME4 appreciated more than 40 times over the quotation verified in the beginning of 2001; strongly higher

than Ibovespa over the same period.

• Reverse split (08/28/07) – To the proportion of a 100 to 1 stock of the same type;

• LAME4 is part of the Ibovespa index since September of 2007.

Exame Magazine Award “Melhores e

Maiores” 2007

Share Performance – 2007

5

2007 Accomplishments

Net revenues growth “SSS” of 12.8% and EBITDA margin of 12.6% of NR, reaching R$

719.5 million;

Organic expansion : inauguration of 50 stores and 107 of 127 acquired stores from

BWU/Blockbuster® were remodeled. The rental movies service was included in the

assortment of over 50 LASA stores.

B2W results indicates the surpass of the projected capture of synergies and the

ongoing optimization of the integrated operations;

CDA – Centro de Desenvolvimento Americanas – has completed its first year

reaching over 16 thousand hours of training for LASA associates;

Approval of Distribution of Complementary Dividends in the total amount of R$ 31.0

million, calculated on the basis of the 2007 net income.6

Conference Call - 2007 Earnings Release

Investor Relations Teaminvestidores@lasa.com.br Tel.: + 55 (21) 2206-6708Fax: + 55 (21) 2206-6898

RI Website: http://ir.lasa.com.br

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.