(Source: MARKETWIRE)BRMALLS Participacoes S.A. (BOVESPA: BRML3), the largest shopping mall company in Brazil, announces today its results for the third quarter of 2009 (3Q09). BRMALLS has a portfolio of 35 malls, comprising 1,025.0 thousand m2 of gross leasable area (GLA) and 458.6 thousand m2 of owned GLA. The Company currently has 5 greenfield projects under development and 7 expansion projects, which, together, will increase its total GLA to 1,250.7 thousand m2 and its owned GLA to 625.2 thousand m2 within the next few years. BRMALLS is the only shopping mall company in Brazil with a national presence targeting all income segments. The Company provides management and leasing services for 28 malls, in 26 of which it retains an interest, with total GLA of 869.3 thousand m2.

All the financial and operational information below is in Reais (R$), and comparisons refer to the third quarter of 2008 (3Q08), except where otherwise indicated. The complete financial statements in accordance with the accounting practices and norms required by the CVM (Brazilian Securities & Exchange Commission) are available at the end of this report.

3Q09 Highlights and Subsequent Events

--  Gross revenues totaled R$102.6 million in 3Q09, an increase of 15.8%
    over 3Q08; and R$290.0 million year-to-date, 21.3% over the first nine
    months of 2008.
--  Consolidated NOI totaled R$85.8 million in 3Q09, 15.3% higher than in
    3Q08, and R$243.9 million in 9M09, an increase of 87.8% year-over-year. The
    NOI margin also increased from 90.8% in 3Q08 to 91.4% in 3Q09, and from
    89.8% for 9M08 to 92.0% for 9M09. Also in 3Q09, same-property NOI increased
    12.5% over 3Q08, while in 9M09 same-property climbed 16.0% year-over-year.
--  Adjusted EBITDA stood at R$75.5 million in 3Q09, an increase of 24.2%
    over 3Q08 and the adjusted EBITDA margin improved substantially, widening
    from 73.6%, in 3Q08, to 80.2% in 3Q09. Year-to-date adjusted EBITDA totaled
    R$211.8 million, up 31.6% over 9M08, while the adjusted EBITDA margin
    increased from 72.7% to 79.7%.
--  We ended the quarter with net income of R$65.2 million, versus a net
    loss of R$22.6 million in 3Q08, and a 3Q09 net margin of 69.2%. Net income
    in the first nine months of 2009 totaled R$168.7 million, compared to a net
    loss of R$30.1 million for 9M08, accompanied by a margin of 63.4%. Earnings
    per share (EPS) stood at R$0.32 in 3Q09 and R$0.83 year-to-date.
--  FFO totaled R$79.1 million in 3Q09, an R$73.6 million increase over
    the same period last year, and R$211.2 million in 9M09.