Multiplan Cm 20080902 Eng

Notice to the Market

MULTIPLAN ANNOUNCES A 8,639 sq.m. EXPANSION IN PARKSHOPPING BARIGÜI Expansion Highlights Rio de Janeiro, September 2nd 2008

Multiplan’s Interest: 100%

Multiplan Empreendimentos Imobiliários (Bovespa: MULT3) announces the expansion of ParkShopping Barigüi, located in Curitiba, state of Paraná. The expansion will add 8,639 sq.m. of gross leasable area (GLA) to the mall, through 83 new stores from which 89% will be leased by satellite stores, therefore bringing higher returns to the company and its shareholders. Divided in two floors, the expansion will also provide a new food court with privileged view to the environmental reserve situated behind the shopping center. Multiplan will invest R$42.0 million and the project’s unleveraged real internal rate of return is expected to exceed 20% p.a.. The opening is scheduled for May 2010. The company will also launch a 1,558 sq.m. gourmet expansion until 30 November 2008, bringing some of the best restaurants in the city to the shopping center. On the same month, 740 new parking slots will be created in order to better accommodate a growing number of customers. ParkShopping Barigüi, after both expansions, will increase its GLA by 21%, to 50,050 sq.m. . By expanding the shopping center, Multiplan meets the demand which comes from the large increase in retail sales and the economic growth of Curitiba, which holds the 4th largest GDP* in Brazil. In the first half of 2008 ParkShopping Barigüi sales increased by 21%, when compared to the same period of the year before. *Source: IBGE/2005

Expansion GLA: 8,639 sq.m. Capex: R$42.0 million Key Money: R$13.8 million

NOI 1st Yr: R$6.8 million NOI 3 rd Yr: R$8.4 million

Actual Mall Highlights Multiplan’s Interest: 84% GLA: 41,409 sq.m. Total stores: 180 Customers1: 87% classes A/B

Location City: Curitiba, PR Population²: 1,757,904 GDP/Capita²: R$16,964

Preliminary view of the expanded ParkShopping Barigüi

ParkShopping Barigüi aerial view. The expansion will be at the left side of the shopping facing a green area. 1 – According to IBGE Income Class Segmentation 2 – Source: IBGE/2005

Preliminary view of the new food court

Preliminary view of the mall’s exterior

Disclaimer The following rationale was used to calculate the project’s feasibility: The cost of the project (capex) is based on the estimated construction cost of satellite, anchor and food stores, mall, rest rooms, parking lot and service outlets. These estimates were evaluated by the company’s technical department. For the purpose of evaluating project capex, these costs are not reduced by key money revenue. Operating revenue was estimated based on different rents per sq.m. for satellite stores, anchor stores, restaurants, fast-food stores, service outlets and leisure facilities. Leasing contract pricing were evaluated on a case-by-case basis by our team of specialized brokers, based on a planned mix of stores. The model uses a 10-year cash flow, with real annual growth of 2% after the fifth year and perpetuity with equal growth after the end of the period, figures are subject to review and are designed to give a preliminary view of the project only.

Contact Armando d’Almeida Neto CFO and Investors Relation Director Tel.: +55 (21) 3031-5224 Fax: +55 (21) 3031-5322 E-mail: [email protected] http://www.multiplan.com.br/ri