CCDI's Contracted Sales Grow Almost 255%; Reach R$252 Million

| Source: Camargo Correa Desenvolvimento Imobiliario Camargo Correa Desenvolvimento Imobiliario

SAO PAULO, BRAZIL--(Marketwire - July 30, 2008) - Camargo Correa Desenvolvimento Imobiliario (BOVESPA: CCIM3) announced preliminary operational results. 2Q08 contracted sales were R$358 million (100%) and R$252 million (co' share), growing 403% and 255% over the numbers from 2Q07, respectively. For the six months accumulated, sales are R$1.1 billion (100%) and R$677 million (co' share). 2Q08 speed of sales was a whopping 185% (2Q08 sales over launchings), and a solid 26% (2Q08 sales over inventory and launchings).

Innova Sao Francisco and Interclube Interlagos projects contributed for the successful results. These projects sold thousands of units in the year. The residential luxury projects (such Vista Pacaembu and ID Jardim Sul) also contributed for the good results.

Approximately 50% of the sales were contracted from projects with units priced at R$350,000 or cheaper, a clear statement of the Company's resolve to be a leader among the Brazilian low income housing developers.

Launchings from the period were R$197 million (100%) or R$136 million (CCDI's stake). From the six projects launched, two were done through HM Engenharia, CCDI's subsidiary for low income housing developments.

CCDI will report its 2Q08 financials on August 7, before the Brazilian market opening. For more information on the release schedule, please refer to http://www.ccdi.com.br/ri.

For more information, call CCDI's IR team at (+55) 11 3841-5880, or e-mail: ri.ccdi@camargocorrea.com.br

CCDI

CCDI is a leading Brazilian residential and commercial real estate developer. Acting on all market segments and in several urban areas within the country, the Company has a R$10.2 billion-worth of sales land bank, which includes a 1,300 acres piece of land in Caieiras (a city located in the SP Metro Area,) as well as plots of land in Sao Paulo (SP), Rio de Janeiro (RJ), Niteroi (RJ), Belo Horizonte (MG),Vila Velha (ES), Curitiba (PR) and Recife (PE). In 2007, CCDI launched 18 projects with total Potential Sales Volume of R$ 1.2 billion. CCDI owns a controlling stake at HM Engenharia for the development of low income housing.