RODOBENS Discloses its 1Q10 Earnings Release

SAO JOSE DO RIO PRETO, Brazil, May 6 /PRNewswire-FirstCall/ -- Rodobens Negocios Imobiliarios (Bovespa: RDNI3), integrated real estate developer and homebuilder with more than 19 years of operations and focus on cities in the inland of Brazil, discloses today its audited results of the first quarter (1Q10).

The financial and operating information are presented on a consolidated basis in accordance with the Brazilian standard accounting practices (BRGAAP) and in Brazilian Reais (R$).

1Q10 Performance Highlights

Net revenue grew 12% vs. 1Q09 reaching R$116MM in the 1Q10. Revenue recognition was prejudiced in the months of January and February due to heavy rains, coming back to normal levels in March. In this month alone the net revenue was R$57MM.

Gross margin grew 1.8 p.p. vs. 1Q09, reaching 32.2% of the net revenue.

Transfer/Sales of client balances to banks in the 1Q10 reached R$132MM. A very significant amount if compared to the total amount of client balances transferred/sold in 2009 (R$138MM), which indicates the high volume that the company expects to reach in 2010.

1Q10 launches reached R$176MM (Rodobens' share only) and 2,681 units, which represents a growth of 163% over 1Q09. R$225MM in total PSV, of which 72% were within the Minha Casa Minha Vida ("MCMV") housing program, reaching an average Sales price of R$84k in the quarter.

1Q10 contracted sales totaled R$176MM Rodobens share only ("Rodobens PSV"), growing 96% over 1Q09. There were sold 2,589 units in the 1Q10, representing a total PSV of R$226M, of which 65% were within the MCMV, net of cancellations.

Subsequent events:

R$300MM non-convertible FGTS debentures issue approved in the EGM of April 16, 2010.

R$230MM partnership contract closed today (May 6, 2010) with Banco do Brasil to finance production.

The conference calls will be accompanied by slides presentation that will be available at

www.rodobens.com/negociosimobiliarios/ir

SOURCE Rodobens Negocios Imobiliarios