Amorim Group

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AMORIM GROUP

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


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1870

Historic origin of the business cork: a small family-owned cork-producing company;

60sVertical 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;

80sDiversification into new business areas: finantial, real estate, hotels and development, benefiting fromnew opportunities arinsing out ofPortugals membership of the EEC and the growth of the portugueseeconomy;

The Amorim Group takes a stake of BCP, the biggest private-sector bank in Portugal;

Cork: establishment of its own external distribution network;

Milestones


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90s until 2005

Establishment of new business areas: NATURE and AMORIM.COM;

Verical expansion of the upstream cork business: acquisition and preparation raw material centresnear 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 onCORTICEIRAAMORIM, the core business of the Amorim Group.

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


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

CORTICEIRA AMORIM OTHER PARTICIPATIO

Organization Chart

AMORIM GLOBAL INVESTORS


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A Global Presence


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


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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 gaseoussubstance similar to air

Cork - A truly renewable and natural Product


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Portugals Cork Oak

Forest:

-23.5% of the countrysforest area

- 736,700 ha


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Portugal exports90% of its corkproduction


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Organization Chart

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

Amorim Natural Cork

Insulation

Cork

Floor and

Wall Coverings


Raw Materials

69%

Cork Stoppers

Amorim Cork Composites

Amorim Cork Research

Composite

Cork

EXECUTIVE COMISSION

MACRO-AREAS

BUSINESS UNITS

453 770 000 00


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N of staff members (average) 3.745

Net Assets Euro 574.7 million

Turnover Euro 468.2 million

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

Main Figures - 2008

453.770.000,00


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The worlds largest manufacturer of value-added

cork productswith operations in 103 countries,

generating and marketing 30% of the world production

What is CORTICEIRA AMORIM?

Cork certified, by FSC.


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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.

DistributionDedicated sales force supplying clients in over 100 countries.

that creates key competitive advantages


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VerticalisationUnique integration, from raw material purchasing to after-sales services

R&D

Fully-staffed department operating under strict scientific guidelines

Quality ControlInnovative company-wide performance control processes

Credibility & Know HowConsistent high product quality and technical performance


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Wine & Spirits - Natural, technical and agglomerated cork stoppers

Home & Office Decoration - Flooring and decorative accessories

Automotive - Engine, transmission and valve gaskets

Aerospace - Spacecraft thermal protection

Large Infrastructure - Vibration-control materials for road, bridge

and railway construction

Home Construction - Acoustic insulation materials

Fashion - Footwear, clothing and fashion accessories

Some Industry Applications...


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RAW MATERIALS

R M t i l B i U it


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Raw Materials Business Unit


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

- Direct presence in raw material producing countries subsidiaries (all of them located in Cork ForesRegions) in Portugal, Spain, Morocco, Algeria and Tunisia allowing for source-diversification and controover 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 manufacturingunits to ne supplied

Vertical integration without land ownership


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


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

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

- Strengthen dialogue with the producers:Promoting certification of forestsIncentives for increasing the technical quality of the cork

Development of R&D partnerships applied to the forest

Main goals


- 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


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CORK STOPPERS

Cork Stoppers Business Unit


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Cork stoppers: - Wine, Port wine, champagne, sparkling wines- Whisky, cognac, brandy- Beer, cider

Seals: - Seals and conical seals for laboratory and pharmaceutical usage

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

Applications



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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 corand technical stoppers

Yearly production of cork stoppers nears 3 billion units.



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Transform a threat into an opportunity

Natural Product Non-polluting, unlike oil-derived and metallic wine closures

Acceptance Every single high-quality wine is sealed with a cork stopper

Chemically inert No migration of artificial components

Ecological Truly renewable material

Consumer friendly Easiness of extraction from the bottle

Resistant Remains unaltered through time

Traditional Cork and wine are associated since the Roman Empire

Cork vs. Plastic and Metal substitutes



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FLOOR & WALL COVERINGS

& C


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Floor & Wall Coverings Business Unit


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Applications: - Domestic- Commercial

Main Markets: Germany, Benelux,UK, Portugal, Denmark and Switzerland

Market Share:

65% of the global cork flooring market


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Fast and easy installation Namely the corkloc glueless products

Environmentally Friendly Made with natural products

Health Against germs and fungus

Silence Reduction of sound transmission between

and within rooms

Warmth Natural thermal insulation properties

Comfort , Durability and Easy maintenance

Cork Floor Coverings as a real USP(Unique Selling Proposition)



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COMPOSITE CORK

Composite Cork Business Unit


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.


Applications:


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Intermediary cork products for other Business Units

Automotive industry: transmissions, gaskets, valves

Aerospace industry: spacecraft thermal protection

Heavy construction: vibrating/ acoustical insulation for railroadsand buildings

Large construction projects: dilatation and compression materialsfor 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


pp cat o s


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Main Markets: UK, USA, Portugal, Asia, Germany, Spain, Netherlands

Organisations such as NASA, Rolls-Royce, Boeing, GEC Alstrom, Ford and Chrysler utilise Amorimcork rubber materials

Market Share: 55% of the global composite cork market

95% market share in the cork rubber automotive gaskets and 60% in the globalcork rubber market



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INSULATION CORK

Insulation Cork Business Unit


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Applications:

- High-grade thermal, acoustic and vibrating insulation

- Used in the construction of pipelines, airports, buildings and large refrigeration units

- Recording studios, music and dance halls and libraries

Main Markets:Italy, France, Portugal, Spain, Japan88% of sales in Europe

Market Share:

80% of the global cork board insulation market

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



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


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, ,

Amorim Global Investors (AGI)


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AGI is a private equity fund managerthat 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


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-AGI is able to build on the expertise, foresight and global network of the Amorim Group, which has aproven 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 privateequity 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 areaswith a proven high potential

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

y

OTHER PARTICIPATIONS


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Organization Chart


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Organization Chart


Finpro,SGPS

AMORIM DESENVOLVIMENTO, S.G.P.S., S.A.

AmorimInversiones

Financieras, SL

Amorim NegciosInternacionais, S.A.

VelporQuinta Nova

Quinta Nova de Nossa Senhora do Carmo


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Quinta Nova de Nossa Senhora do Carmo


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The WinesThe Quinta Nova range of wines present fruity aromas, high colour intyensity and a notable mounthcomplexity that reflects its terroir character. The prtfolio is composed by three brands as follows:

3 PomaresGrainhaQuinta Nova de Nossa Senhora do Carmo

Natural ProductsQuinta Novas aims to explore the flavours and aromas which exist in the Douro region, offeringgenuine 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 visitorsare immersed in authetnticity in the eleven rooms with perioddecor and panoramic views into the vineyards and the river

Accommodation 2007

Architecture, Parks and Gardens 20


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Amorim Group

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