Cyrela Announces 56% of the Sales Speed of 2Q08 Launches and 60% Growth in 1H08 EBITDA

Cyrela Announces 56% of the Sales Speed of 2Q08 Launches and 60% Growth in
1H08 EBITDA

SAO PAULO, Brazil, Aug. 14 /PRNewswire-FirstCall/ -- Cyrela Brazil Realty
S.A. Empreendimentos e Participacoes (Bovespa: CYRE3), the largest residential
real estate developer in Brazil, announces its results for the second quarter
of 2008 (2Q08).
HIGHLIGHTS
-- Launch of 32 projects in the 2Q08, with a potential sales value (PSV)
of R$2,182.6 million.
-- LIVING: launching in 2Q08 of 3,129 units in 11 projects.
-- Average sales speed of 56% of the quarterly launches and of 60% of the
launches carried out in the 1H08.
-- Acquisition of 49 sites during 2Q08, with estimated PSV of
R$7.1 billion, adding 2.3 million sq.m of commercially usable area.
-- Execution of a Memorandum of Understanding for the acquisition of 100%
of Agra Empreendimentos Imobiliarios S.A.
-- Execution of a Shareholders' Agreement of the new joint-venture CL
Empreendimentos Imobiliarios S.A., with Construtora Lider, for operating in
Minas Gerais and Distrito Federal.
-- In the first six months of 2008, 11 projects were delivered totaling
1.4 thousand units. The forecast for 2H08 is to deliver 3.7 thousand units
more, resulting in 31 projects and 5.2 thousand delivered units in 2008.
-- Among the delivered projects in the 1H08, we highlight Varanda Paulista
located at Av. 23 de Maio in Sao Paulo and Le Monde (1st and 2nd phases)
located at Avenida das Americas in Barra da Tijuca, Rio de Janeiro, both 100%
sold before the conclusion of the project.
-- Today, Cyrela has 106 construction sites along the country of which 30
are operated by Construtora Cyrela.
-- New price per sq.m classification for defining the income segment of
the projects, subject to the market reality of each of Cyrela's Business
Units: Greater Sao Paulo, Rio de Janeiro, North, Northeast and
South/Southeast/Mid-West.

Conference Calls

English
August 15, 2008
11:00 am (US EDT)
Phone: +1 (412) 858-4600
Code: Cyrela Brazil Realty

Portuguese
09:00 am (US EDT)
Phone: +55 (11) 4003-9004
Code: Cyrela

SOURCE Cyrela Brazil Realty S.A. Empreendimentos e Participacoes

Investor Relations, +55-11-4502-3516