Disclaimer

This presentation contains forward-looking statements regarding the prospects of the

business, estimates for operating and financial results, and those regarding Cia.

Hering's growth prospects. These are merely projections and, as such, are based

exclusively on the expectations of Cia. Hering management concerning the future of

the business and its continued access to capital to fund the Company’s business Plan.

Such forward-looking statements depend, substantially, on changes in marketSuch forward-looking statements depend, substantially, on changes in market

conditions, government regulations, competitive pressures, the performance of the

Brazilian economy and the industry, among other factors and risks disclosed in Cia.

Hering’s filed disclosure documents and are, therefore, subject to change without prior

notice.

Significant sales growth with margin and profitabilityincrease since 2007.

Business model that allows higher operational leverage an d ROIC.

Strong sales performance in all brands and channels, specially in Hering brand.

Hering brand growth leveraged by strong expansion ofthe Hering Store chain.

Expressive Hering Stores opening potential in allbrazilian regions....

... besides growth opportunities in Same Store Sales.

Other channels (multibrand retail and webstore ) alsoshow good expansion perspectives.

- Focus on same clients sales growthmainly through:

• Especialization• Execution improvement within the store• POS Material

- Organic growth due to the number ofclients increase

- Sales channel with the highest growthrate: + 101.7% (9M10)

- The company will focus on increasingsales through the online channel

- Reevaluation of the E-commerce formatto enhance the potential of the business

MULTIBRAND RETAIL HERING WEBSTORE

# of clients (Footprint) Same Clients Sales

2007 2008 2009 9M09 9M10

Multibrand channel

Sales (R$ million) 133.0 213.1 322.6 222.7 314.6

+60.2% +51.4% +41.2%

Nr. of clients 7,768 11,105 11,742 11,500 12,662

+43.0% +5.7% +10.1%

Growth potential in the kids market with the newbusiness strategy.

- Fashion

- Colorful

- Cheerful

- Trendy

- A/B Public

Pre

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Poi

nts - A/B Public

- Mini adult

- Casual

- Basic

- Updated

- Democratic

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Val

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Pric

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Two pilot stores were opened in the Hering Kids format.

•Shoppings Anália Franco and Butantã•Very good first impressions•Decision on expanding should happen during the second half.

Launch of the first dzarm. flaghsip store.

Shopping Anália Franco