TELECONFERENCE – 2006 EARNINGSSÃO PAULO, MARCH 13 2006

2

SAFE HARBOR

This presentation contains statements that are forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the operations and business environments of CCDI and its subsidiaries that may cause the actual results of the companies to be materially different from any future results expressed or implied in such forward-looking statements.

Although CCDI believes that the expectations and assumptions reflected in the forward-looking statements are reasonable based on information currently available to CCDI’s management, CCDI cannot guarantee future results or events. CCDI expressly disclaims a duty to update any of the forward-looking statements.

3

INITIAL PUBLIC OFFERING

Date: January 31, 2007

Primary and Secondary Offering

Share Price: R$ 14.50

Deal Volume: R$ 522 million

Closing Date: February 22, 2007

22,022 indiciduals subscribed

52% local investors ownership

Float: 32%

4

CAMARGO CORRÊA

4.4%4.4% 5,4405,440 16,56016,560

1.6%1.6% 29,50329,503 26,71526,715

14.9%14.9% 3,8853,885 6,6086,608

38.5%38.5% 609609 940940

58.9%58.9% 516(2)516(2) 365365

5.8%5.8% 5,4815,481 8,9018,901

99.3%99.3% 512(2)512(2) N.D.N.D.

100.0%100.0% 425(2)425(2) N.D.N.D.

17.9%17.9% 963963 5,4015,401

Premier

Premier Listed

ListedCompanies

Companies

Private

Private

Sources: Companies Reports, Bloomberg.(1) Last 12 months as of Sept 06. (2) 2005 Financial Information.(3) At IPO.

65.5%65.5% 5252 1,639(3)1,639(3)

CompanyCompany OwnershipOwnershipNet revenueNet revenue

0606(1)(1) (US$ mm)(US$ mm)MktMkt capcap(US$ mm)(US$ mm)

Camargo Corrêa Group Camargo Corrêa Group -- Main businessesMain businesses Benefits from Camargo Corrêa Group:

67 years of operations

Leading public companies

Balance sheet strength and indirect financial sponsorship

Excellence in corporate governance

Nationwide and international presence

Strong results oriented culture and capital discipline

5

WHY CCDI?

Strong local brand recognition

Business expertise

Unique access to prime land bank

Synergies from the infrastructure company

National presence

Unique access to financing

Experienced management

Room for a market leader

Favorable political and economic environment

Decreasing interest rates

Available financing

Pent-up demand

Government support

Fragmented competition

Sector perspectivesCamargo Corrêa value

added

A CCDI EM 2006

7

2006 IN FIGURES

We more than doubled 2005´s performance

PSV Launched (R$ million)

55.0

212.9

266.5

186.8

2004 2005 2006

CAGR: 187%

453,3

Units Launched

90

497571

2004 2005 2006

CAGR: 152%

Total Area Comletion PSV CCDI's Residential Location Launch Date

m2 Units

Date PSV

CCDI Stake

Passeio de Itanhatim São Paulo feb/06 11,304 80 sep/08 33.0 33.0 100.0%

Porto Pinheiros São Paulo may/06 15,109 75 may/09 57.3 57.3 100.0%

Condomínio Cyprae (PSL) Bertioga (SP) nov/06 12,008 60 may/09 46.1 46.1 100.0%

Wave São Paulo dec/06 18,805 162 dec/09 50.9 50.9 100.0%

Passarim São Paulo dec/06 18,305 108 dec/09 49.8 49.8 100.0%

Corcovado São Paulo dec/06 10,307 50 dec/09 29.4 29.4 100.0%

Total Area Comletion PSV CCDI's Commercial Location Launch Date

m2 Units

Date PSV

CCDI Stake

Ventura Corporate Towers Rio de Janeiro jun/06 53,378 36 may/08 373.6 186.8 50.0%

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2006 IN FIGURES

Outstanding Sale Success

Contracted Sales (R$ million)

48.8

176.8 172.0

2004 2005 2006

CAGR: 88%

Units Sold

88

311

377

2004 2005 2006

CAGR: 107%

Average Sales Price (R$/m2)

3,143.73,079.4

3,260.5

2004 2005 2006

+6%

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SUSTAINABLE GROWTH

R$ 5.0 billion PSV (CCDI’s stake)

90% acquired trhough financial swaps

No risk concentration

Segment diversification

Geographical diversification

On going negotiations: R$ 4 billion PSV (estimated success rate: 50%)

Other 3%

Residential 73%

Commercial AAA 24%

Segment diversificationSegment diversification

Luxury (over $850)= 2%

High ($350 – $850) = 40%

Med-High ($200 - $350) = 40%

Medium ($100 – $200) = 18%

Residential Breakdown Residential Breakdown

(In R$ (In R$ ‘‘000)000)

São Paulo 85%

Rio Janeiro 6%São Paulo

Interior e Litoral 9%

Land bank breakdown Land bank breakdown

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UNIQUE LAND BANK, EXCELLENT POTENTIAL

LandLand

Burle MarxPark

Burle MarxPark

Burle

Marx

ParkBu

rleMarx

Park

Marapendi

LakeLandLand

RuaSta. Virgin ia

LandLand

Piqueri ParkPiqueri Park

Marginal TietêMarginal Tietê

Jardim Sul - SP

Potential sales (mm) Launch year

R$1,500 to be launched 2007/2015Itautec - SP

Península de São Lourenço - SP Lote 27 - RJ

Panamby -SP

Potential sales (mm) Launch year

2007R$283 to be launched

Potential sales (mm) Launch year

R$586 to be launched 2007

Potential sales (mm) Launch year

R$430 to be launched 2007/2008

Potential sales (mm) Launch year

R$150 to be launched 2007/2008

LandLand

FINANCIAL INFORMATION

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PROJECT FLOW

Sales are recognized based on the percentage of costs incurred versus the total budget (financial completion)

SecuritizationConstruction

Launch Go-ahead Delivery

4M – 6MLicensing

Sales

70%70%

40%40%

28%28%

20%20%

98%98%

100%100%

100%100%

73% / 100%73% / 100%

0%0%

15%15%

0%0%

0%0%

90%90%

62%62%

56%56%

47%47%

0M0M 12M12M 24M24M 36M36M

Contracted salesContracted sales

% budget costs% budget costs

RevenuesRevenues

CollectionCollection

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REVENUES

Gross Revenues (R$ million)

14.3

83.8

131.1

2004 2005 2006

CAGR: 203%

Gross Revenues (R$ million)

24.5

38.5

4Q05 4Q06

+57.3%

Projects Deli-very

Usable Área

Financial Completion

Accumulated Sales

Accumulated Revenues

Recognized CCDI’s stake

2006 2005 2006 2005 2006 2005 2006

(m2) (%) (%) (R$milllion) (%)

Terra da Mata 2003 16,616 100 73 92 77 16.6 17.6 100

Raízes da Mata 2003 22,610 100 72 88 74 22.1 25.5 100

Luzes da Mata 2004 19,918 69 28 88 69 24.3 7.4 100

Refúgio da Mata 2005 17,511 42 22 84 53 16.5 6.0 100

Forte do Golf 2005 47,978 30 20 84 69 12.3 20.0 100

Central Park 2005 7,810 62 50 69 51 7.6 5.9 55

Passeio de Itanhatim 2006 11,304 16 35 2.0 100

Porto Pinheiros 2006 15,109 33 84 15.4 100

São Lourenço 2006 12,008 8 69 10.3 100

Wave 2006 18,805 17 12 1.0 100

Corcovado 2006 10,307 16 11 0.5 100

Passarim 2006 18,305 18 6 0.5 100

Ventura Corporate Towers 2006 53,378 12 0 0 0.0 50

Total (*) 218,281 44 39 65 68 129.1 82.4

(*) Does not include Ventura Corporate Towers

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INCOME AND MARGIN

Gross Income (R$ million)

3.2

13.5

25.3

2004 2005 2006

CAGR: 181%

Gross Income (R$ million)

1.7

7.1

4T05 4T06

+312.1

%

Gross Margin (%)

20.2%17.0%

2005 2006

+320 bps

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REVENUES TO BE RECOGNIZED

Revenues to be Recognized (R$ million)

37.6

50.3

2005 2006

+34%

Gross Margin on Sales to be Recognized (%)

23.3% 24.8%

2005 2006

+150 bps

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DISCUSSING MARGINS

The method of land accounting by Camargo differs from its competitors, given that most land is acquired by financial swap with full ownership transferred to CCDI

Net Revenues $100

Construction Cost and Others $50

Land $15

Gross Profit $35

Gross Margin 35%

Net Revenues $85

Construction Cost and Others $50

Gross Profit $35

Gross Margin 41%

Difference of 6% in gross margin

Financial vs. Physical Exchange

Stronger ownership of the land

Less expensive than physical exchange

In line with market practices

Camargo Typical Residential ProjectCamargo Typical Residential Project Other Companies Other Companies

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NET INCOME AND EBITDA

Net Income (R$ million)

2.4 2.7

(6.0)

2004 2005 2006

EBITDA (R$ million)7.9

2.0

(3.8)

2004 2005 2006

+295%