Brascan Completes Acquisition of MB Engenharia S.A., Revises 2008 Guidance Accordingly...

Brascan Completes Acquisition of MB Engenharia S.A., Revises 2008 Guidance
Accordingly and Provides 2009 Guidance for the First Time

RIO DE JANEIRO, Brazil, April 17 /PRNewswire-FirstCall/ -- Brascan
Residential Properties S.A. ("Brascan") (Bovespa: BISA3), one of the largest
integrated developers in Brazil, announced today the completion of its
previously announced acquisition of 100% of the share capital of MB Engenharia
S.A. ("MB"). The acquisition price was R$164 million plus additional
contingent consideration based on an earn-out formula, payable R$40 million in
cash and the balance in 2011.
BRP expects that the acquisition will be immediately accretive to its
results. The company is revising its 2008 guidance in light of this
acquisition and is now anticipating projected 2008 launchings of R$ 1.6 to R$
1.8 billion and contracted sales of R$ 1.15 to R$ 1.35 billion.
The company is also providing guidance for 2009 for the first time. 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.
Prior to closing, the company together with its auditors, legal advisors
and appraisers performed a comprehensive due diligence process examining
accounting, taxes, corporate, real estate, labor, brand and environmental
matters with satisfactory results.
To access the full version of the document access our website at
www.brascanresidential.com.br/ri . Upcoming Events:

Conference Call (English)

Date: April 18, 2008
Time: 9 a.m. (EDT)
10 a.m. (Brasilia Time)
2 p.m. (GMT)
Phone: +1 (973) 935-8893
Code: 44407754
Replay: +1 (706) 645-9291
Replay Code: 44407754
Webcast: available at our website www.brascanresidential.com.br/ri

Conference Call (Portuguese)
Date: April 18, 2008
Time: 10 a.m. (EDT)
11 a.m. (Brasilia Time)
3 p.m. (GMT)
Phone: +55 (11) 2188-0188
Code: Brascan
Replay: +55 (11) 2188-0188
Replay Code: Brascan
Webcast: available at our website www.brascanresidential.com.br/ri

Participants are requested to connect 15 minutes prior to the time set for
the conference calls.
Replay:
A conference call replay facility will be available for seven days after
the event. In order to access the replay, please dial the above mentioned
numbers.
Speakers:
Chairman of the Board
Chief Financial Officer / IRO
SOURCE Brascan Residential Properties S.A.

IR Contact, Horacio Piedras - Investor Relations Manager, +55 (21) 3823-7520,
ri@brascan.com.br