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General Shopping Brasil S.A. Announces First Quarter Earnings: Consolidated NOI Increased 18.3%, With Margin at 87.8% and net Revenue Reached R$ 30.6 Million, up by 15.3% in 1Q11

SAO PAULO, May 14, 2011 /PRNewswire/ -- General Shopping Brasil S/A [BM&FBovespa: GSHP3], a company with significant participation in the Brazilian shopping mall industry, announces its first quarter of 2011 earnings.

  • General Shopping Brasil's gross revenue totaled R$ 32.8 million, up by 12.6% in 1Q11 compared to the R$ 29.2 million registered in the 1Q10.

  • Consolidated NOI in the first quarter of 2011 was R$ 26.9 million, with margin at 87.8% and a growth of 18.3% in comparison with R$ 22.7 million registered in the 1Q10.

  • Gross Profit reached R$ 24.4 million in the 1Q11, with margin at 79.6% and a 19.7% increase in relation to R$ 20.3 million posted in the same period of the previous year.

  • Adjusted Ebitda was R$ 21.2 million, with margin at 69.3% in the 1Q11, up 13.6% as compared with R$18.7 million in 1Q10.

  • In the quarter, Adjusted Net Result was R$ 3.8 million, with margin at 12.3%, an increase of R$ 4.2 million compared to adjusted net loss of R$ 0.4 million posted in the first quarter of 2010.

  • Adjusted FFO reached R$ 6.4 million in the 1Q11, margin at 20.8%, a 209.9% boost compared to the R$ 2.1 million posted in 1Q10.

http://release.firb.com/general_shopping/GSB_release_1Q11.pdf

CONFERENCE CALLS ON THE 1Q11

            General Shopping Brasil 1st  Quarter 2011
    What:   Earnings Conference Call

            Monday, May 16, 2011 @ 09:00 AM ET in
    When:   Portuguese and 10:00 AM ET in English.

            http://www.mediatown.com.br/prnewswire/
    Where:  player/?id=535
           (Portuguese)
            http://www.mediatown.com.br/prnewswire/
            player/?id=536
           (English)

            Live over the Internet --Simply log on to the
    How:    web at the address above.

Conference call dial-in phone numbers: From the US: 1-888-700-0802 (toll-free from the US); from Brazil: 11 4688-6361; from other countries: 1-786-924-6977

Contact: Investor Relations Area of General Shopping Brasil - + 55 11 3159-5100, [email protected], or Silvia Pinheiro, from FIRB - Financial Investor Relations Brasil - + 55 11 3500-5564, [email protected]

If you are unable to participate during the live webcast, the call will be archived at http://www.generalshopping.com.br. To access the replay, click on Investors Section.

Web site: http://www.generalshopping.com.br

Audio: http://www.mediatown.com.br/prnewswire/player/?id=536

SOURCE General Shopping Brasil S.A.

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