AMORIM GROUP

AMORIM - INVESTIMENTOS E PARTICIPAES, S.G.P.S., S.A.

Milestones
1870 Historic origin of the business cork: a small family-owned cork-producing company; 60s Vertical expansion of the cork business: utilization of the cork wastes resultant of the cork production; First step to the internationalization process (ustria): access platform to the East Europe market; 80s Diversification into new business areas: finantial, real estate, hotels and development, benefiting from new opportunities arinsing out of Portugals membership of the EEC and the growth of the portuguese economy;

The Amorim Group takes a stake of BCP, the biggest private-sector bank in Portugal;
Cork: establishment of its own external distribution network;

90s until 2005 Establishment of new business areas: NATURE and AMORIM.COM;

Verical expansion of the upstream cork business: acquisition and preparation raw material centres near the respective production areas;
Importants Associations: - hotels - Accor Group - real estate investment - GE Real Estate 2005 The holding sold Amorim Imobiliria, S.G.P.S., S.A. and Amorim Turismo, S.G.P.S., S.A., focusing on CORTICEIRA AMORIM, the core business of the Amorim Group.

2008 Creation of Amorim Global Investors, a new holding company that will explore investment opportunities in sector leading companies, capitalizing on the expertise, foresight and global network of the Amorim Group.

Organization Chart

AMORIM INVESTIMENTOS E PARTICIPAES, S.G.P.S., S.A.

CORTICEIRA AMORIM

AMORIM GLOBAL INVESTORS

OTHER PARTICIPATIONS

A Global Presence

CORTICEIRA AMORIM, S.G.P.S., S.A.

Cork - A truly renewable and natural Product

Key Unique Characteristics:

- Environmentally friendly - odourless - thermal, acoustic & vibrating insulation - high resistance to wear & tear - high elasticity & compressibility - fire & water resistant - floating-grade lightness
Composition:

- 14-sided micro cells - Inter-cell spaced filled with a gaseous substance similar to air

Portugals Cork Oak Forest:

-23.5% of the countrys forest area

- 736,700 ha

Portugal exports 90% of its cork production

Organization Chart
AMORIM INVESTIMENTOS E PARTICIPAES, S.G.P.S., S.A.
69%

CORTICEIRA AMORIM, S.G.P.S., S.A.

EXECUTIVE COMISSION
Amorim Cork Research
MACRO-AREAS

Amorim Natural Cork

Amorim Cork Composites

Raw Materials

Cork Stoppers

Floor and Wall Coverings

Composite Cork

Insulation Cork

BUSINESS UNITS

453.770.000,00

Main Figures - 2008

N of staff members (average) Net Assets

3.745 Euro 574.7 million

Turnover

Euro 468.2 million

Listed in Stock Exchange since December 1991 Shared Capital: Euro 133 000 000: - Amorim: 67,8%

What is CORTICEIRA AMORIM?

The worlds largest manufacturer of value-added cork products with operations in 103 countries, generating and marketing 30% of the world production

Cork certified, by FSC.

 that creates key competitive advantages

Undisputed World Leader Largest market share in all product segments: Cork Stoppers: 25% Cork floor coverings: 65% Composite Cork: 55% Insulation Cork: 80%

Brand Recognition Corticeira Amorim is leading the industry for more than 130 years, offering unmatched product quality and technical performance.
Distribution Dedicated sales force supplying clients in over 100 countries.

Verticalisation Unique integration, from raw material purchasing to after-sales services

R&D Fully-staffed department operating under strict scientific guidelines Quality Control Innovative company-wide performance control processes Credibility & Know How Consistent high product quality and technical performance

Some Industry Applications...

Wine & Spirits - Natural, technical and agglomerated cork stoppers

Home & Office Decoration

Automotive Aerospace

- Flooring and decorative accessories

- Engine, transmission and valve gaskets - Spacecraft thermal protection

Large Infrastructure

- Vibration-control materials for road, bridge

and railway construction

Home Construction Fashion

- Acoustic insulation materials - Footwear, clothing and fashion accessories

RAW MATERIALS

Raw Materials Business Unit

Vertical integration without land ownership

Although it does not own any forests, CORTICEIRA AMORIM is one of the key promoters of FSC certification of forest management systems in Portugal.

- Management of purchasing storage and preparation of the single variable common to all the activities
of CORTICEIRA AMORIM, which is the raw material - cork

- Direct presence in raw material producing countries subsidiaries (all of them located in Cork Forests
Regions) in Portugal, Spain, Morocco, Algeria and Tunisia allowing for source-diversification and control over flow or raw material throughout the course of the production process

- Integrated raw material production centres one-stop locations for raw material purchasing, sorting,
grading and pre-production standardisation - Ensure the maximum usage of raw materials and its characteristics - Logistic coordination between this stage of the production process and the manufacturing units to ne supplied

Raw Materials Business Unit

Main goals - Monitor and antecipate the price cycle - Reinforce the global presence in Procurement (Iberian and North Africa) and manage raw material from
a multinational perspective

- Keep a historical register of production (record) kept up to date by rural property

- Strengthen dialogue with the producers:
Promoting certification of forests Incentives for increasing the technical quality of the cork Development of R&D partnerships applied to the forest

- Call the attention of government bodies to the cork forest and need for their support - Prepare, discuss and decide long-term supplies policy - Reinforce synergies between Business Units and the improvement of Consolidated Margin
Raw Materials Business Unit

Raw Materials Business Unit

CORK STOPPERS

Cork Stoppers Business Unit

Applications
Cork stoppers: - Wine, Port wine, champagne, sparkling wines - Whisky, cognac, brandy - Beer, cider - Seals and conical seals for laboratory and pharmaceutical usage

Seals:

Other uses:

- Fishing-rod handles - Life jackets and other buoyancy devices - Shuttlecoks for badminton

Cork Stoppers Business Unit

Main Markets - USA, France, Germany, Australia, Portugal, Italy, Spain and Latin America - 56% of sales in Europe - 28% of sales in the Americas Amorims Global Market Share - 25% of the world natural cork stoppers market Product mix is mainly: natural cork, champagne and sparkling wine corks, bar tops, agglomerated corks and technical stoppers

Yearly production of cork stoppers nears 3 billion units.

Cork Stoppers Business Unit

Cork vs. Plastic and Metal substitutes

Transform a threat into an opportunity
Natural Product Acceptance Non-polluting, unlike oil-derived and metallic wine closures Every single high-quality wine is sealed with a cork stopper

Chemically inert
Ecological Consumer friendly Resistant Traditional

No migration of artificial components

Truly renewable material Easiness of extraction from the bottle Remains unaltered through time Cork and wine are associated since the Roman Empire

Cork Stoppers Business Unit

Cork Stoppers Business Unit

FLOOR & WALL COVERINGS

Floor & Wall Coverings Business Unit

Applications:

- Domestic - Commercial

Main Markets: Germany, Benelux, UK, Portugal, Denmark and Switzerland Market Share: 65% of the global cork flooring market <1% of the world flooring market

In a partnership with BASF, Amorim Revestimentos has launched in 2007 a new generation of flooring and wall covering cork products Acrodur. Acrodur is a water based binder that contains no potentially harmful ingredients such as phenol, formaldehyde or isocyanate and significantly reduces the level of emissions without changing the technical performance.

Floor & Wall Coverings Business Unit

Cork Floor Coverings as a real USP

(Unique Selling Proposition)
Fast and easy installation Namely the corkloc glueless products

Environmentally Friendly
Health Silence

Made with natural products

Against germs and fungus Reduction of sound transmission between

and within rooms

Warmth Natural thermal insulation properties

Comfort , Durability and Easy maintenance

Floor & Wall Coverings Business Unit

Floor & Wall Coverings Business Unit

COMPOSITE CORK

Composite Cork Business Unit

.

Applications:
Intermediary cork products for other Business Units Automotive industry: transmissions, gaskets, valves Aerospace industry: spacecraft thermal protection Heavy construction: vibrating/ acoustical insulation for railroads and buildings Large construction projects: dilatation and compression materials for airports, bridges, railroads, buildings and water dams Anti-damping materials: composite damping materials for humidity control Shoe industry Decorative sets and gifts: memo boards, coasters, boxes, souvenirs Others: sports equipment, footwear, light-weight acoustic panels

Composite Cork Business Unit

Main Markets:

UK, USA, Portugal, Asia, Germany, Spain, Netherlands

Organisations such as NASA, Rolls-Royce, Boeing, GEC Alstrom, Ford and Chrysler utilise Amorim cork rubber materials Market Share: 55% of the global composite cork market 95% market share in the cork rubber automotive gaskets and 60% in the global cork rubber market

Composite Cork Business Unit

Composite Cork Business Unit

INSULATION CORK

Insulation Cork Business Unit

Applications:

- High-grade thermal, acoustic and vibrating insulation - Used in the construction of pipelines, airports, buildings - Recording studios, music and dance halls and libraries
Main Markets: Italy, France, Portugal, Spain, Japan 88% of sales in Europe Market Share: 80% of the global cork board insulation market and large refrigeration units

New International Markets: Japan, Scandinavia, Austria, Middle East

Insulation Cork Business Unit

Insulation Cork Business Unit

AMORIM GLOBAL INVESTORS, S.G.P.S., S.A.

Amorim Global Investors (AGI)

AGI is a private equity fund manager that will seek to explote

investment opportunities in companies with proven track record and quality management teams that are seen as leaders in their industry sector and which present a high growth potential

Why AGI - AGI is able to build on the expertise, foresight and global network of the Amorim Group, which has a
proven ability to identify good investment opportunities in adverse conditions and economic periods

- AGIs differentiation

stems from not having a rigid exit strategy, commonly seen in other private equity funds, whilst aiming to establish real exit options from day one

- AGI possesses the capacity and the resources to invest in various sectors and geographical areas
with a proven high potential

- AGI offers a flexible partnership model to suit partners and may participate in investments either as
a majority or a significant minority shareholder

OTHER PARTICIPATIONS

Organization Chart
AMORIM INVESTIMENTOS E PARTICIPAES, S.G.P.S., S.A.
AMORIM DESENVOLVIMENTO, S.G.P.S., S.A.

Finpro, SGPS

Amorim Inversiones Financieras, SL

Quinta Nova

Amorim Negcios Internacionais, S.A.

Velpor

Quinta Nova de Nossa Senhora do Carmo

Quinta Nova de Nossa Senhora do Carmo

The Wines The Quinta Nova range of wines present fruity aromas, high colour intyensity and a notable mounth complexity that reflects its terroir character. The prtfolio is composed by three brands as follows: 3 Pomares Grainha Quinta Nova de Nossa Senhora do Carmo Natural Products Quinta Novas aims to explore the flavours and aromas which exist in the Douro region, offering genuine products with high added value: aromatic herbs (teas), traditional jams, rosemary honey and traditional sweets. Wine Hotel - Portugals first Wine Hotel, established in 2005 - A 18th century house, now fully renovated: guests and visitors are immersed in authetnticity in the eleven rooms with period decor and panoramic views into the vineyards and the river

Accommodation 2007 Architecture, Parks and Gardens 2008