Sao Carlos Reports Very Good Results in 3Q10: EBITDA and FFO Margins of 88% and 52%, Respectively, Portfolio Appreciation of 25% and NAV at R$ 30/Share

SAO PAULO, Nov. 10, 2010 /PRNewswire-FirstCall/ -- Sao Carlos Empreendimentos e Participacoes SA (BM&FBovespa: SCAR3) announces today its results for the third quarter of 2010.

• PORTFOLIO MARKET VALUE GREW BY 25% IN THE 12 MONTHS THROUGH SEPTEMBER 2010 according to the consulting firm CBRE. The portfolio has a current estimated market value of R$2.26 billion (vs. R$1.44 billion in Sep/09);

• NAV REACHES R$ 1.73 BILLION AND R$30/SHARE;

• SAO CARLOS REACHES A RECORD IN REAL ESTATE ACQUISITIONS, WITH R$446 MILLION YEAR-TO-DATE and average cap rate of 14.5%. Acquisition of the C.A.S.A. and Barros Loureiro properties after September's end;

• GROSS REVENUE WITH LEASES CAME TO R$43.1 MILLION IN 3Q10 (+23% VS. 3Q09). We estimate the pro forma annual gross revenue with rents at R$196 million;

• EBITDA AND FFO MARGINS CAME TO 88% AND 52%, RESPECTIVELY, IN 3Q10, once again among the highest margins in the real estate sector; and

• NET INCOME TOTALED R$15.8 MILLION with a net margin of 39% in 3Q10.

To access the full "3Q10 Earnings Release," please access our website: www.scsa.com.br/ir, and to listen to our conference call on the 3Q10 results use the information below:

Sao Carlos is one of the main companies in the sector of investment and administration of commercial properties in Brazil. Our goal is to maximize rental revenues from the company's real estate, the assets' renting potential and the portfolio's market value. Our business strategy includes the investment in new commercial properties, reform and maintenance of our real estate, optimization of condominium administration and sale of properties that already attained maturation. We currently have a portfolio which includes mainly office buildings and retail stores located in the States of Sao Paulo and Rio de Janeiro.

SOURCE Sao Carlos Empreendimentos e Participacoes S.A.

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