Rodobens 1Q08 Earnings Release

SAO JOSE DO RIO PRETO, Brazil, May 7 /PRNewswire-FirstCall/ -- Rodobens Negocios Imobiliarios (Bovespa: RDNI3), a 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 first quarter of 2008 (1Q08).

    1Q08 Financial and Operating Highlights
    -- Pre-sales of R$154 million (Rodobens' share only), a 360% growth over
       1Q07 and 7% over 4Q07.
        - 2,092 units sold (vs. 310 in 1Q07), 88% with selling price up
          to R$150,000.
    -- Project Launches(1) of R$195 million (Rodobens' share only), a 515%
       growth over 1Q07.
        - 2,642 units launched (vs. 210 in 1Q07), 100% with selling
          price up to R$150,000.
    -- Net Revenue of R$73 million, a growth of 283% over 1Q07. Both the
       revenue and costs from the real estate development activity are
       recognized by the method of percentage of completion.
    -- EBITDA rose to R$14 million, with a margin of 19.9% of net revenue.
       Excluding the negative impact of interest expenses recorded as cost of
       projects, EBITDA margin was 22.4%.
    -- Net income of R$18 million, reflecting the growing operating profit
       and, in decreasing relevance, the net interest (financial) result.
    -- Cash balance of R$224 million and bank debt of R$61 million as of March
       31, 2008, representing comfortable liquidity for the investments in
       working capital during the rest of 2008.
    -- Land Bank with a potential sales value currently estimated at
       R$5.1 billion (Rodobens' share), and construction potential of 74,000
       homes in 47 municipalities of ten Brazilian states.

    (1) Potential total sales value, estimated at launching.

The complete and audited consolidated 1Q08 financial statements, accompanied by the respective explanatory notes, can be found in the document "ITR-Informacoes Trimestrais" (mandatory quarterly filing), available in electronic form at our investor relations website at http://www.rodobens-rni.com/ir and at the CVM-Comissao de Valores Mobiliarios (the Brazilian Securities and Exchange Comission) website at http://www.cvm.gov.br.

    Contacts:
    Investor Relations                    Media Relations
    Orlando Viscardi                      MCE, a/c Rita Mazzuchini
    Tel.: 55-17-2137-1754/3/2             Tel.: 55-11-2577-6533
    E-mail: ri-rni@rodobens.com.br        E-mail: ritamce@terra.com.br

    1Q08 Earnings conference calls:
    Portuguese                            English
    May 8, 9:00am (ET time)                May 8, 11:00am (ET time)
    Tel.: 55-11-4688-6301                  Brazil: 55-11-4688-6301
    Access code: Rodobens                  U.S.: 1-888-700-0802
                                           Other countries: 1-786-924-6977
                                           Access code: Rodobens

The conference calls will be accompanied by slides presentation that will be available at http://www.rodobens-rni.com.br/ri