General Shopping Brasil - Gross Revenue Increases 16.2%, Adjusted EBITDA Rises 17.5%, With Margin at 70.3%, and Gross Profit Totals R$ 20.3 Million in 1Q10

SAO PAULO, May 7 /PRNewswire-FirstCall/ -- General Shopping Brasil S/A [BM&FBOVESPA: GSHP3], one of the largest shopping mall companies in Brazil, announces its first quarter 2010 earnings.

Operating and financial highlights

• General Shopping Brasil's gross revenue totaled R$ 29.2 million in 1Q10, up 16.2% over R$ 25.1 million reached in 1Q09
• Consolidated NOI reached R$ 22.7 million in 1Q10, with margin at 85.6%, up 20.2% in comparison with R$ 18.9 million in 1Q09
• Gross profit in 1Q10 was R$ 20.3 million, with a 76.7% margin and a 21.8% increase in comparison with R$ 16.7 million of 1Q09
• Adjusted EBITDA reached R$ 18.7 million in 1Q10, with margin at 70.3%, up 17.5% over the R$ 15.9 million registered in 1Q09

http://release.firb.com/general_shopping/GSB_release_1Q10.pdf

CONFERENCE CALLS ON THE 1Q10 EARNINGS

May 10, 2010

Webcast: http://www.mediatown.com.br/prnewswire/player/?id=247

Webcast: http://www.mediatown.com.br/prnewswire/player/?id=246

SOURCE General Shopping Brasil S.A.