BRASCAN - Contracted Sales Increased 78%, Company Increased 2008 Guidance for Launches and Sales

RIO DE JANEIRO, Brazil, May 9 /PRNewswire-FirstCall/ -- Brascan Residential Properties S.A. (Bovespa: BISA3), one of the largest integrated developers in Brazil, announced today its results for the first quarter of 2008.

    HIGHLIGHTS

    -- Revised its 2008 guidance for launchings of R$1.6 to R$1.8 billion and
       contracted sales of R$1.15 to R$1.35 billion. The Company also provided
       guidance for 2009. It expects 2009 launchings to reach R$2.2 to R$2.5
       billion and contracted sales of R$ 1.7 to R$ 2.0 billion.

    -- Completed on April 17, 2008 the acquisition of MB Engenharia S.A., a
       leader among real estate developers in the mid-west, focused on
       developing residential units for the middle and mid-low segments.
       Currently MB operates in 17 cities in 8 states and the Federal
       District, and has a land bank with a PSV of R$3.3 billion.

    -- Acquired on April 25, 2008 a land plot located in one of the finest
       locations on Faria Lima Avenue with 77.5 thousand m2 of saleable area.
       Brascan owns 50% of the project.

    -- Launched Ocean Breeze, located in Recreio dos Bandeirantes in Rio de
       Janeiro with a Potential Sales Value of R$36.4 million.

    -- Contracted sales in the first quarter reached R$147.8 million,
       equivalent to an increase of 78% compared to the first quarter of 2007.

    -- Net revenues totaled R$127 million, a 56% increase when compared to the
       same period of the previous year.

    -- Gross profit amounted to R$61.6 million in the first quarter, the
       equivalent of a 36% growth compared to the first quarter of 2007.

    -- EBITDA reached R$48.2 million in the first quarter, which corresponds
       to a growth of 34% compared to the same period of 2007. EBITDA margin
       in the first quarter of 2008 achieved 38%.

To access the full version of the press release, please visit our website at www.brascanresidential.com.br/ri.

    UPCOMING EVENTS

    Conference Call (English)               Conference Call (Portuguese)
    Date: May 9, 2008                       Date: May 9, 2008
    Time:  9 a.m. (EDT)                     Time: 11 a.m. (EDT)
          10 a.m. (Brasilia Time)                 12 p.m. (Brasilia Time)
           1 p.m. (GMT)                            3 p.m. (GMT)
    Phone: +1 (973) 935-8893                Phone: +55 (11) 4688-6301
    Code: 45129053                          Code: Brascan
    Webcast: available at our website       Webcast: available at our website
    www.brascanresidential.com.br/ri        www.brascanresidential.com.br/ri