Lojas Americanas S.A. - static.lasa.com.brInstitute of Independent Auditors (IBRACON), together with the Federal Accounting Council, which consisted principally of: (a) inquiries of

Lojas Americanas S.A. (Convenience Translation into English from the Original Previously Issued in Portuguese) Convenience Translation of the Quarterly Financial Information for the Quarter Ended June 30, 2006 and Independent Accountants’ Special Review Report Deloitte Touche Tohmatsu Auditores Independentes

(Convenience Translation into English from the Original Previously Issued in Portuguese) INDEPENDENT ACCOUNTANTS’ SPECIAL REVIEW REPORT To the Board of Directors and Shareholders of Lojas Americanas S.A. Rio de Janeiro – RJ 1. We have performed a special review of the accompanying quarterly financial information

(ITR) of Lojas Americanas S.A., for the quarter and semester ended June 30, 2006, prepared in accordance with accounting practices generally adopted in Brazil, under the responsibility of the Company`s management, consisting of the balance sheets (Company and Consolidated), the related statements of income and the performance report. The financial statements of Vitória Participações S.A., a jointly-controlled subsidiary, for the semester ended June 30, 2006, whose investment represents 13% of the Company total assets, and whose consolidated assets and revenue represent 17% and 0.6%, respectively, of the consolidated balances of the Company, and the financial statements of FAI – Financeira Americanas Itaú S.A. Crédito, Financiamento e Investimentos, indirect subsidiary, for the semester ended June 30, 2006, whose consolidated assets and revenue represent 3% and 0.1%, respectively, of the consolidated balances of the Company, were reviewed by other accountants, and our report, insofar as it relates to the amounts included in the quarterly financial information, is based solely on the report of the other accontants.

2. We conducted our review in accordance with specific standards established by the Brazilian

Institute of Independent Auditors (IBRACON), together with the Federal Accounting Council, which consisted principally of: (a) inquiries of and discussions with persons responsible for the accounting, financial and operating areas as to the criteria adopted in preparing the interim financial information, and (b) review of the information and subsequent events that had or might have had material effects on the financial position and results of operations of the Company and its subsidiaries.

3. Based on our special review, and the report of the other accountants, we are not aware of

any material modifications that should be made to the financial information referred to above, for them to be in accordance with accounting practices generally adopted in Brazil and standards established by the Brazilian Securities Commission (CVM), specifically applicable to the preparation of mandatory quarterly financial information (ITR).

4. The financial information consisting of the balance sheets (Company and Consolidated), as of March 31, 2006 and the statements of income (Company and Consolidated) for the quarter and semester ended June 30, 2005, presented for comparison purposes, were reviewed by us and we issued unqualified special review reports dated May 5, 2006 and August 10, 2005, respectively.

5. The accompanying quartely financial information has been translated into English for the

convenience of readers outside Brazil. Rio de Janeiro, August 8, 2006. DELOITTE TOUCHE TOHMATSU Celso de Almeida Moraes Auditores Independentes Engagement Partner

(Convenience Translation into English from the Original Previously Issued in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMMERCIAL, INDUSTRIAL & OTHER COMPANIES 01.01– IDENTIFICATION 1 – CVM CODE 2 –COMPANY NAME 3 – Federal Corporate Taxpayers’ Registration Number (CNPJ) 00808-7 LOJAS AMERICANAS S.A. 33.014.556/0001-96

01.02 –HEAD OFFICE 1 – ADDRESS 2 – SUBURB OR DISTRICT

RUA SACADURA CABRAL, 102 SAÚDE 3 – POSTAL CODE 4 – MUNICIPALITY 5 – STATE

20081-902 RIO DE JANEIRO RJ 6 – AREA CODE 7 – TELEPHONE 8 – TELEPHONE 9 – TELEPHONE 10 – TELEX

21 2206-6930 2206-6613 2206-6505 11 – AREA CODE 12 – FAX 13 – FAX 14 – FAX

21 2206-6898 2206-6687 - 15 – E-MAIL

http://www.lojasamericanas.com.br or http://www.lasa.com.br 01.03 – INVESTOR RELATIONS OFFICER (Company Mail Address) 1 – NAME

ROBERTO MARTINS DE SOUZA 2- ADDRESS 3 – SUBURB OR DISTRICT

RUA SACADURA CABRAL, 102 SAÚDE 4 – POSTAL CODE 5 – MUNICIPALITY 6 – STATE

20081-902 RIO DE JANEIRO RJ 7 – AREA CODE 8 – TELEPHONE 9 – TELEPHONE 10 – TELEPHONE 11 – TELEX

21 2206-6503 2206-6505 2206-6613 12 – AREA CODE 13 – FAX 14 – FAX 15 – FAX

21 2206-6898 2206-6687 - 15 - E-MAIL

[email protected] 01.04 –REFERENCE / INDEPENDENT ACCOUNTANT

CURRENT YEAR CURRENT QUARTER PRIOR QUARTER 1 – BEGINNING 2 – END 3 – QUARTER 4 – BEGINNING 5 – END 6 – QUARTER 7 – BEGINNING 8 – END

01/01/2006 12/31/2006 2 04/01/2006 06/30/2006 1 01/01/2006 03/31/2006 9- INDEPENDENT ACCOUNTANT 10- CVM CODE

DELOITTE TOUCHE TOHMATSU AUDITORES INDEPENDENTES 00385-9 2- PARTNER RESPONSIBLE 12- INDIVIDUAL TAXPAYERS’ REGISTRATION

NUMBER OF THE PARTNER RESPONSIBLE CELSO DE ALMEIDA MORAES 680.686.898-34

http://www.lojasamericanas.com.br/

mailto:[email protected]

(Convenience Translation into English from the Original Previously Issued in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMMERCIAL, INDUSTRIAL & OTHER COMPANIES 01.01– IDENTIFICATION 1 – CVM CODE 2 –COMPANY NAME 3 – Federal Corporate Taxpayers’ Registration

Number (CNPJ) 00808-7 LOJAS AMERICANAS S.A. 33.014.556/0001-96

01.05 – CAPITAL NUMBER OF SHARES 1 – CURRENT QUARTER 2 – PRIOR QUARTER 3 – SAME QUARTER IN PRIOR

YEAR (THOUSANDS) 06/30/2006 03/31/2006 06/30/2005

Paid-up Capital 1 – Common 25,996,919 25,996,919 25,778,3662 – Preferred 43,602,615 42,572,546 42,188,0273 – Total 69,599,534 68,569,465 67,966,393 Treasury Shares 4 – Common 662,822 619,571 545,6365 – Preferred 1,288,392 1,150,162 971,6866 – Total 1,951,214 1,769,733 1,517,322

01.06 – CHARACTERISTICS OF THE COMPANY 1 – TYPE OF COMPANY Commercial, Industrial and Other Companies 2 – SITUATION Operating 3 – NATURE OF OWNERSHIP National 4 – ACTIVITY CODE 119 – Trade (Retail and Wholesale) 5 – MAIN ACTIVITY Department stores 6 – TYPE OF CONSOLIDATION Full 7 – TYPE OF INDEPENDENT ACCOUNTANTS' REPORT Unqualified 01.07 – COMPANIES NOT INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS 1 – ITEM 2 – CNPJ 3 – NAME 01.08 - CASH EARNINGS APPROVED AND/OR PAID DURING AND AFTER THE QUARTER 1-ITEM 2 - EVENT 3 – APPROVAL 4 – INCOME 5 – BEGINNING

OF PAYMENT 6 – TYPE OF

SHARE 7 – INCOME PER SHARE

01 Stockholders’ meeting 03/06/2006 Dividend 04/03/2006 ON 0.0004931730

02 Stockholders’ meeting 03/06/2006 Dividend 04/03/2006 PN 0.0005424910

03 Stockholders’ meeting 03/06/2006 Interest on

Equity 04/03/2006 ON 0.0002994270

04 Stockholders’ meeting 03/06/2006 Interest on

Equity 04/03/2006 PN 0.0003293700


01.09 –SUBSCRIBED CAPITAL AND CHANGES IN THE CURRENT FISCAL YEAR

1 – ITEM 2- DATE OF CHANGE 3 –CAPITAL 4 – AMOUNT OF CHANGE 5 – NATURE OF CHANGE 7 – NUMBER OF SHARES ISSUED 8 – SHARE PRICE ON ISSUE DATE

(In thousands of reais) (In thousands of reais) (Thousands) (Reais)

01 03/24/2006 183,114 28,321 Revenue Reserves 0 0.0000000000

02 05/31/2006 221,951 38,837 Private Subscription in cash 1,007,069 0.0385641810

03 06/30/2006 222,838 887 Private Subscription in cash 23,000 0.0386000000 01.10 – INVESTOR RELATIONS OFFICER 1 – DATE 2 – SIGNATURE

08/09/2006


02.01 – BALANCE SHEET – ASSETS (IN THOUSANDS OF BRAZILIAN REAIS - R$)

1- CODE 2- DESCRIPTION 3- 06/30/2006 4- 03/31/2006

1 Total assets 2,031,844 2,047,568

1.01 Current assets 1,112,726 1,167,071

1.01.01 Cash and cash equivalents 550,202 513,595

1.01.01.01 Cash and banks 78,885 79,845

1.01.01.02 Temporary cash investments 471,317 433,750

1.01.02 Receivables 21,534 38,606

1.01.02.01 Trade accounts receivable 21,534 38,606

1.01.03 Inventories 427,068 503,583

1.01.04 Other 113,922 111,287

1.01.04.01 Recoverable taxes 64,579 73,331

1.01.04.02 Deferred income and social contribution taxes 16,606 6,766

1.01.04.03 Interest on capital receivable 80 80

1.01.04.04 Prepaid expenses 23,158 21,138

1.01.04.05 Other receivables 9,499 9,972

1.02 Long-term assets 272,534 246,571

1.02.01 Sundry receivables 0 0

1.02.02 Receivables from related parties 110,690 79,866

1.02.02.01 Affiliated companies 0 0

1.02.02.02 Subsidiaries 53,138 50,536

1.02.02.03 Other related parties 57,552 29,330

1.02.02.03.01 Receivables from stockholders 57,552 29,330

1.02.03 Other 161,844 166,705


1.02.03.02 Escrow deposits 36,811 37,145


1.03 Permanent assets 646,584 633,926

1.03.01 Investments 381,955 374,912

1.03.01.01 In affiliated companies 0 0

1.03.01.02 In subsidiaries 381,677 374,232

1.03.01.02.01 Equity Result 347,564 338,895

1.03.01.02.02 Goodwill in subsidiaries 34,113 35,337

1.03.01.03 Other investments 278 680

1.03.02 Property and equipment 181,936 175,179

1.03.02.01 Installations 48,328 45,647

1.03.02.02 Machinery and equipment 41,072 39,851

1.03.02.03 Improvements 90,644 83,868

1.03.02.04 Construction in progress 1,487 5,342

1.03.02.05 Vehicles 367 408

1.03.02.06 Other 38 63

1.03.03 Deferred charges 82,693 83,835

1.03.03.01 Preoperating expenses 26,856 26,451

1.03.03.02 IT projects 40,910 42,760

1.03.03.03 Software license 6,224 6,084

1.03.03.04 Logistics and distribution projects 15 42

1.03.03.05 Other 8,688 8,498


02.02 – BALANCE SHEET – LIABILITIES (IN THOUSANDS OF BRAZILIAN REAIS - R$) 1- CODE 2- DESCRIPTION 3- 06/30/2006 4- 03/31/2006 2 Total liabilities 2,031,844 2,047,5682.01 Current liabilities 873,822 943,3172.01.01 Loans and financing 238,285 252,3482.01.02 Debentures 16,536 8,4722.01.03 Suppliers 408,321 419,1342.01.04 Taxes payable 44,318 34,0902.01.05 Dividends payable 0 56,2502.01.06 Provisions 21,781 30,8702.01.06.01 Payroll and related charges 18,775 15,8192.01.06.02 Employee profit sharing 0 10,0002.01.06.03 Provision for contingencies 3,006 5,0512.01.07 Payables to related parties 0 02.01.08 Other 144,581 142,1532.01.08.01 Professional fees - third parties 5,130 3,1022.01.08.02 Provisions for investments losses 101,075 101,8762.01.08.03 Other payables 38,376 37,1752.02 Long-term liabilities 884,426 867,5062.02.01 Loans and financing 360,256 341,4802.02.02 Debentures 199,934 199,9342.02.03 Provisions 278,320 272,5422.02.03.01 Provision for contingencies 27,911 31,6452.02.03.02 Income tax and Social Contribution 250,409 240,8972.02.04 Payables to related parties 45,916 53,5502.02.04.01 Loans and advances from subsidiaries 45,916 53,5502.02.05 Other 0 02.03 Deferred income 0 02.05 Stockholders’ equity 273,596 236,7452.05.01 Capital 155,936 129,8942.05.01.01 Paid-up capital 222,838 183,1142.05.01.02 Treasury stock (66,902) (53,220)2.05.02 Capital reserves 0 02.05.03 Revaluation reserves 0 02.05.03.01 Own assets 0 02.05.03.02 Subsidiaries / affiliated companies 0 02.05.04 Profit reserves 103,463 103,4632.05.04.01 Legal 0 02.05.04.02 Statutory 0 02.05.04.03 For contingencies 0 02.05.04.04 Unrealized profits 0 02.05.04.05 Profit retention 0 02.05.04.06 Special for unpaid dividends 0 02.05.04.07 Other profit reserves 103,463 103,4632.05.04.07.01 For future investments 103,463 103,4632.05.05 Retained earnings (accumulated deficit) 14,197 3,388


03.01 – STATEMENTS OF INCOME (IN THOUSANDS OF BRAZILIAN REAIS - R$)

1- CODE 2- DESCRIPTION 3- 04/01/2006 to 06/30/2006 4- 01/01/2006 to 06/30/2006 5- 04/01/2005 to 06/30/2005 4- 01/01/2005 to 06/30/2005 3.01 Gross revenue from sales and/or services 773,595 1,424,216 525,977 1,176,279 3.02 Deductions from gross revenue (164,313) (303,852) (114,995) (266,658) 3.03 Net revenue from sales and/or services 609,282 1,120,364 410,982 909,621 3.04 Cost of sales and/or services (442,963) (799,692) (291,297) (647,100) 3.05 Gross profit 166,319 320,672 119,685 262,521 3.06 Operating income (expenses) (160,295) (318,142) (135,142) (264,759) 3.06.01 Selling expenses (105,417) (201,602) (80,737) (165,489) 3.06.02 General and administrative expenses (10,517) (21,034) (9,918) (19,106) 3.06.02.01 Management fees (1,019) (2,041) (989) (1,960) 3.06.02.02 Other (9,498) (18,993) (8,929) (17,146) 3.06.03 Financial (38,527) (59,062) 6,442 (20,656) 3.06.03.01 Financial income 13,888 26,937 62,273 74,997 3.06.03.02 Financial expenses (52,415) (85,999) (55,831) (95,653) 3.06.04 Other operating income 0 0 0 0 3.06.05 Other operating expenses (15,987) (30,555) (12,680) (25,040) 3.06.05.01 Depreciation/amortization (15,987) (30,555) (12,636) (24,952) 3.06.05.02 Other 0 0 (44) (88) 3.06.06 Equity in subsidiaries and affiliates 10,153 (5,889) (38,249) (34,468) 3.07 Operating Income 6,024 2,530 (15,457) (2,238) 3.08 Non operating income (expenses) (915) 5,386 110,046 110,052 3.08.01 Income 0 0 200,000 200,000 3.08.01.01 Capital Gain 0 0 200,000 200,000 3.08.02 Expenses (915) 5,386 (89,954) (89,948)

3.09 Income before taxes and profit sharing 5,109 7,916 94,589 107,814

3.10 Provision for income and social contribution taxes 0 0 2,424 0

3.11 Deferred income tax 5,700 6,281 7,148 7,148


1 - CODE 2- DESCRIPTION 3- 04/01/2006 to 06/30/2006 4- 01/01/2006 to 06/30/2006 5- 04/01/2005 to 06/30/2005 4- 01/01/2005 to 06/30/2005

3.12 Profit sharing/ Contributions statutory 0 0 0 0 3.12.01 Profit sharing 0 0 0 0 3.12.01.01 Employees 0 0 0 0 3.12.02 Contributions 0 0 0 0 3.13 Reversal of interest on capital 0 0 0 0 3.15 Net income (loss) 10,809 14,197 104,161 114,962 Number of shares, ex-treasury shares (thousand) 67,648,320 67,648,320 66,449,071 66,449,071

Earnings per share 0.00016 0.00021 0.00157 0.00173

Loss per share

BRAZILIAN SECURITIES COMMISSION - CVM QUARTELY INFORMATION - ITR CORPORATION LEGISLATION COMMERCIAL COMPANY, INDUSTRIAL AND OTHERS Base Date – 06/30/2006

00808-7 LOJAS AMERICANAS S.A. 33.014.556/0001-96

04.01 – EXPLANATORY NOTES

NOTES TO THE FINANCIAL STATEMENTS (In thousands of Reais, except for per share amounts) 1 OPERATIONS Lojas Americanas operates 207 consumer product retail stores, being 184 stores in tradicional model and 23 stores in express model (03.31.2006: 200 stores and 06.30.2005 – 164 stores) in the main State capitals and cities throughout Brazil and 3 distribution centers. The Company also operates (i) in electronic commerce, offered by Lojas Americanas' subsidiary, Americanas.com Comércio Eletrônico S.A., (ii) offers the option of catalogue sales and purchases through the TV channel, through its indirect subsidiary Shoptime S.A., and (iii) provides registry information service and negotiates bank financing through its subsidiary Facilita Serviços e Propaganda S.A. to the jointly controlled FAI – FINANCEIRA AMERICANAS ITAÚ S.A. CRÉDITO, FINANCIAMENTO E INVESTIMENTO.

As indicated in note 9, beginning of May, 2006, the commercialization of financial products and services is the responsibility of the jointly controlled FAI – FINANCEIRA AMERICANAS ITAÚ S.A. CRÉDITO, FINANCIAMENTO E INVESTIMENTO before named as PLATY PARTICIPAÇÕES S.A. The credit operations are carried out by Facilita Serviços e Propaganda S.A., and the “fundings” are carried out by a Banco Itaú S.A. company. 2 PRESENTATION OF THE FINANCIAL STATEMENTS The quarterly financial statements have been prepared in conformity with accounting practices followed in Brazil and in accordance the Brazilian corporate law and with the complementary regulations of the Brazilian Securities Commission (CVM). 3 SIGNIFICANT ACCOUNTING POLICIES (a) Accounting estimates in the Financial Statements When preparing the quarterly financial statements it is necessary to use estimates to account for certain assets, liabilities and other transactions. Accordingly, the quarterly financial statements include estimates of the useful lives of fixed assets, expectation of realization of deferred income tax and social contribution, reserves for contingent liabilities, provision related to income tax and similar provision Although they represent the best estimates of Management, they may be different when compared to actual amounts. (b) Results of operations Income and expenses are recognized on the accrual basis. (c) Foreign currency Assets and liabilities in foreign currency are translated into Brazilian Reais using monetary exchange conversion rates prevailing at the period end. The reflects arising from this translation are recognized in the quarterly statements of income. For subsidiary companies abroad, assets and liabilities were converted to Reais at monetary exchange rates prevailing at period end closing date.




(d) Current and Long-Term Assets Temporary cash investments, primarily fixed-income securities, are stated at cost, including accrued income up to the balance sheet dates, not exceeding its market value. Provision for possible defaults of payments was set up in an amount considered adequate by management to meet eventual losses in the realization of these credits receivables. Inventories are stated at average purchase price, not exceeding its market value or replacement cost. Other assets are stated at realizable values and include, when applicable, accrued income and monetary variations up to the balance sheet date. Deferred income taxes are determined in accordance with CVM Instruction 371 dated June 27, 2002 on tax loss carry-forwards and temporary differences. This calculation takes into consideration the profitability record of the Company and expectation of generation of future taxable income, based on technical studies approved annually by the Board of Directors. (e) Investments Investments made in subsidiary and jointly-controlled subsidiary companies are recorded by the equity method of accounting. A provision for losses is established for the participations in companies with negative Shareholder’s equity, classified in the current liabilities. Goodwill arising from expectation of future income is amortized over a period of up to 10 years. Other permanent investments are valued at their cost of acquisition less provisions for devaluation, when applicable. (f) Property and equipment Property and equipment are carried at acquisition cost. Depreciation is calculated by the straight-line method at the following annual rates: installations – 10% and 25%; machinery and equipment – 10% and 15%; vehicles – 20%; IT equipment – 20%; software license for use – 20%. Amortization of leasehold improvements is based on the respective length of time of each lease contract. (g) Deferred charges Deferred charges comprise expenses related to information technology projects (implantation of the SAP- Retail Program and others related to the e-commerce), renovation of stores, opening of new stores and distribution centers and other.




Company projects that are being amortized on a straight-line basis at the rate of 20%p.a., based on the stores’ opening date or on the end of the projects. (h) Current and long-term liabilities Loans and financing contracted in foreign currency are restated at exchange rates in force at the balance sheet date and include accrued contractual interest. Loans and financing in Brazilian currency, including debentures, are monetarily restated according to contractual rates. Provisions are recorded in the financial statements when the Company is under legal obligation as the result of a past event and when economic resources will probably be required to liquidate an obligation. Provisions are recorded at values based on the best estimates of the risk involved. Income tax and social contributions taxes are calculated at the effective tax rates of (i) 15% plus an additional of 10% over taxable income exceeding R$240 of taxable income and (ii) 9% of taxable income for social contributions and include, when applicable, income generated abroad by the subsidiaries Klanil Services Ltd., Louise Holdings Ltd., and Americanas.com and consider the utilization of tax losses carryforwards up to a limit to 30% of taxable income. Other payables are stated at known or estimated amounts including, when applicable, corresponding financial charges and monetary or exchange variations accrued up to the balance sheet date.

(i) Critérios de consolidação The consolidated quarterly financial statements have been prepared in accordance with the consolidation principles, established by Brazilian Corporate Law and CVM Instruction No. 247/96, and include the financial statements of the parent company, Lojas Americanas S.A., its subsidiaries, and its jointly-controlled subsidiary, proportionally consolidated, as indicated in note 9a. Accounting practices were consistently applied to all the consolidated companies and are also consistent with the accounting procedures applied in the previous quarters. The consolidation process includes the following exclusions:

• Elimination of asset and liability balances between consolidated companies; • Elimination of participation in capital, capital reserves and accumulated profits of controlled companies; • Elimination of income and expenses balances, as well as un-realized profits, when applicable, from

business transactions between the Consolidated companies;

• Highlighting of the value of minority interests in the consolidated quarterly information.




4 MONEY MARKET INVESTMENTS Parent Company Consolidated 06.30.2006 03.31.2006 06.30.2006 03.31.2006

Certificates of Bank Deposits – CDB’s 26,432 25,515 26,432 25,515

Fixed-Income Funds 191,054 161,815 258,550 242,775

Fixed-Income Funds - Abroad 253,831 246,420 262,240 254,619

Debentures 195,743 207,141

471,317 433,750 742,965 730,050

LONG-TERM 15,541 27,664 SHORT-TERM 471,317 433,750 727,424 702,386

Certificates of Bank Deposits yield an average rate of 100% of the CDI (interbank deposit rate) and part of them were pledged as guarantee for the loan from the National Bank for Economic and Social Development (BNDES). Fixed-Income Investment Funds refer mainly to quotas held in investment funds administered by top financial institutions. Fixed-Income Investment Funds abroad refer basically to bonds issued by the Austrian Government and yield interest of up to 84.3% of the CDI and were held as guarantee of working capital debts. Debentures, registered in the jointly controlled FAI – FINANCEIRA AMERICANAS ITAÚ S.A. CRÉDITO, FINANCIAMENTO E INVESTIMENTO, were issued by top financial institutions, registered at present value, remunerated at 100% of the DI Cetip Over, and may be redeemed at any time at their updated amount.




5 ACCOUNTS RECEIVABLE Parent Company Consolidated 06.30.2006 03.31.2006 06.30.2006 03.31.2006 Credit cards from third parties 12,025 26,487 72,216 75,278

Debt Cards and Checks 2,780 6,678 2,780 6,678

Financing to clients 8,223

Other 8,951 7,821 28,641 45,825 23,756 40,986 111,860 127,781

Allowance for doubtful accounts

(2,222)

(2,380)

(3,807)

(3,590)

21,534

38,606

108,053

124,191

Credit card operations can be paid in up to 12 installments and are managed by third parties. The Financing to clients reflects the commercialization of products and services offered by the jointly controlled FAI – FINANCEIRA AMERICANAS ITAÚ S.A. CRÉDITO, FINANCIAMENTO E INVESTIMENTO and began in the current quarter .

The allowance for doubtful accounts considers the average loss over the last twelve months, adjusted in accordance with management estimates and judgements of probable losses on accounts not yet due. Receivables overdue for more than 180 days are considered uncollectible and, consequently, are written off against the allowance for doubtful accounts. 6 INVENTORIES Parent Company Consolidated 06.30.2006 03.31.2006 06.30.2006 03.31.2006 Merchandise - At stores 353,818 402,281 348,479

402,281

- At distribution centers 69,277 97,279 185,076

182,687

Packaging and supplies 3,973 4,023

4,970

5,115

427,068 503,583

538,525

590,083




7 RECOVERABLE TAXES Parent Company Consolidated 06.30.2006 03.31.2006 06.30.2006 03.31.2006

ICMS (state added value tax) 33,933 36,253 33,933 36,253

IPI (tax on industrialized products) 20,000 20,000 20,000 20,000

IRRF (witholding income tax) 3,285 2,724 6,012 2,986 COFINS (tax on revenue) 7 5,633 1,327 5,633

PIS ( tax on revenue) 209 1,575 497 1,575

IRPJ (Legal Entity Income Tax) 4,875 612

CSLL (Social Contribution on Net Income) 1,710 663

Social security contributions and other 7,145 7,146 9,031 9,033 64,579 73,331 77,385 76,755 8 DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION (a) Presentation According to CVM Instruction No. 371, of June 27, 2002, and based on technical viability studies that show the Company's ability to generate future taxable income, the company keeps, approved by the Board of Directors, tax credits arising from income tax losses, negative social contribution bases and temporary differences that will only be taxed or deducted when they meet the conditions required by tax legislation.




(b) Composition of tax credits Parent Company Consolidated 06.30.2006 03.31.2006 06.30.2006 03.31.2006Assets Deferred income tax:

- Tax losses 93,898 89,855 134,085

123,014

- Temporary differences 10,574 10,444 15,924

13,820

104,472 100,299 150,009 136,834

Deferred social contribution :

- Tax losses 29,824 28,344 44,519

40,508

- Temporary differences 3,807 3,760 5,747

4,995

33,631 32,104 50,266 45,503

138,103 132,403 200,275 182,337

LONG-TERM 121,497 125,637 180,307 170,520 SHORT-TERM 16,606 6,766 19,968

11,817

The indirect subsidiary companies - Shoptime S.A. and TV Sky Shop S.A. still have, on June 30, 2006, income tax loss carryforwards of R$13,079 and R$29,447, respectively, and negative social contribution bases carryforwards of R$13,109 and R$30,294, respectively, whose corresponding credits were not recorded in the financial statements due to their non-compliance with specific CVM rules governing the capacity of future taxable income generation. (c) Expectation of realization Over the past fiscal periods, the Company has been showing a significant development in its main operational and financial indicators. This improvement results from a thorough review of the Company's management strategy, with a view to increasing the synergy among the various corporate areas and its suppliers. The new strategies of management allowed a optimization of the cost structurre together with a better margin on sales, generated from the improvement in "buy and sell" operations due to continuous training aimed at employee qualification.




Estimated realization of deferred tax credits based on taxable income adjusted to present value is as follows:

Parent Company

Consolidated

2006 16,606 19,9682007 23,663 30,5022008 24,895 34,2172009 26,248 35,6112010 29,193 33,9422011 17,498 22,7052012 5,2462013 5,8092014 6,4322015 5,843

138,103 200,275

Furthermore, the Company was awarded a favorable ruling in a lawsuit that was judged in the fourth quarter of 2005, claiming the right to offset payments of other taxes managed by the Federal Revenue Agency - SRF, against tax credits originated by income tax losses and negative social contribution bases, being the tax credits updated by the Selic variation index. The Company filed with the SRF the credit habilitation request and is awaiting the homologation of the values of the credits for the recognition of the right recognized in the lawsuit.




(d) Reconciliation between nominal and effective rates Reconciliation between nominal and effective income tax and social contribution rates is presented below, referring to the semester ended June 30, 2006:

Parent Company Consolidated

Income for the semester before income tax, social contribution and profit-sharing 7,916

4,446

Nominal rate 34% 34% Income and social contribution taxes at nominal rate (2,691) (1,511)

Effects of Income Tax and Social Contribution on (additions) and exclusions on net income - Equity in subsidiaries

. Exchange variation 769 769

. Equity participation (2,771)

- Loss from subsidiary abroad (6,232)

- Reversal of provision for which on tax credit was recognized previously 2,142 2,142

- Interest on Capital paid proportional until June 30, 2006 3,880 3,880

- Constituted tax credits 12,355 - Other exclusions, net 4,952 710

Income tax and social contribution at effective rate 6,281 12,113 The interest on capital was accounted for as financial expenses because of specific fiscal regulation and reversed before the semester net income. In accordance with the Brazilian Securities Commission (CVM) orientation, the interest on capital is not included in the statement of income, as it has no effect on the results of the operations, except for the effects recognized under the heading “income and social contribution taxes”.




9 INVESTMENTS Parent Company Consolidated 06.30.2006 03.31.2006 06.30.2006 03.31.2006

Subsidiaries 136,174 128,228

Jointly-controlled investment 211,390 210,667 Goodwill registered in the acquisition of participation in Americanas.com 42,465 42,465 42,465 42,465

Goodwill registered in Americanas.com S.A. Comércio Eletrônico, relating to the acquisition of participation in Shoptime S.A. e TV Sky Shop S.A.

135,305 135,305 Amortization of goodwill (8,352) (7,128) (11,679) (8,249) Others investments at cost 278 680 346 748 381,955 374,912 166,437

170,269

The Company is in the process of implementing, a Corporate reorganization of the shareholders’ interest in the subsidiaries abroad, with the intention of simplifying its fiscal and stockholder’s capital structure. As a result, the indirect subsidiaries Louise Holdings Limited and Americanas.com S.A. Comércio Eletrônico, with respective goodwills, became direct subsidiaries of Lojas Americanas S.A. The participations transfer between Lojas Americanas S.A. and the subsidiaries was realized through the accounts and dividends payments declared by the subsidiaries abroad. The Company, in 2005, acquired, through its indirect subsidiary Americanas.com S.A. Comércio Eletrônico, the equivalent of 44% of TV Sky Shop S.A. and 98.85% of Shoptime S.A., which owns 56% of the capital of TV Sky Shop S.A. The acquisition cost was R$116,983, including goodwill of R$74,932 and R$59,547, respectively (in 2006, the goodwill on these acquisitions calculated in 2005 was adjusted by R$826). After this operation, in 2005, Americanas.com S.A. Comércio Eletrônico, made a contribution of capital to TV Sky Shop S.A., by using the outstanding balance of a loan, in the amount of R$ 8,504 and, in this manner, its participation in Shoptime S.A. and TV Sky Shop S.A. was duly altered to 47.25% and 52.75%, respectively. The goodwill on these acquisitions is based on technical reports based on expectation of future profitability of subsidiary companies. The amortization of goodwills related to the investments made in Americanas.com S.A. Comércio Eletrônico, Shoptime S.A and TV Sky Shop S.A are being recorded based on the term of profitability projections, that are revised annually and do not exceed the limit of ten years.




(a) Changes in the Parent Company’s investments:

Subsidiaries

Jointly controll

ed investm

t

Klanil

Services Ltd.

Ameri-canas. com

Lojas Ameri-

canas da Amazô-nia S.A.

America-nas.com S.A. -

Comércio Eletrônico

Goodwill

Louise Holdings

Ltd.

Facilita Serviços e

Propa-ganda S.A.

Lojas Ameri-canas Home

Shopping

Vitória Partici-pações

S.A. Other

s Total

At January 1, 2005 71,778 55,103 3,327 680 130,888

Additions 3 3Equity adjustments

. Participation results

(39,530) (1,329) 8,029 (32,830)

.Exchange variation

(8,235) (8,235)

.Capital Gain

200,000 200,000

Dividends and Interest on Capital

(430) (80) (510)

At December 31, 2005 24,013 53,344 3,327 207,952 680 289,316

Transfers of investments (1)

(35,660)

69,136

35,575 (69,051)

Equity adjustments:


(11,176) 1,624 (10,525) 2,114 2,715 (15,248)

.Exchange variation

(656) (1,317) 1,179 (794)

Amortization of goodwill

(238) (238)

Investments loss provision

23,479 78,397 101,876

At March 31, 2006 69,443 35,337 55,458 3,327 210,667 680 374,912Capital reduction / Statutory lien

(343)

(402) (745)

Transfers of investments (1)

(70,244)

70,244

Equity adjustments


48 (3,259) 72 6,799 2,369 349 (4) 724 7,098

.Exchange variation

103 4,403 (1,451) 3,055

Amortization of goodwill

(1,224) (1,224)

Investments loss provision

(151) (72) (918) (1,141)

At June 30, 2006 77,043 34,113 55,807 3,323 211,391 278 381,955 (1) On May 26, 2006, proceeding with the corporate reorganization of the shareholder’s interest in the

subsidiaries abroad, Americanas.com had its social capital decreased and its shareholders’ interest in the subsidiary Americanas.com S.A. – Comércio Eletrônico transfered to the Parent Company Lojas Americanas S.A.




(b) Information on related parties

% Partici-pation

Capital

Shareholder’s equity

Net income (loss)

Balances assets (liabilities)

Revenue

(expenses) net 06.30.2006 03.31.2006 06.30.2006 03.31.2006

Subsidiaries

Klanil Services Ltd. 100,0 22,417 (23,328) (11,681) Facilita Serviços e Propaganda S.A.

100,0 26,928 55,807 2,463 (44,237) (51,871) 3,882 1,969

Lojas Americanas da Amazônia S.A.

100,0 2,288 (268) 72 210

280

Lojas Americanas Home Shopping Ltda.

100,0 6,877 3,323 (4) (1,679) (1,679)

Louise Holdings Ltd. 100,0 11 (77,479) (8,428)

Americanas.com S.A. Comércio Eletrônico 81,0 75,458 95,096 10,237 52,901 50,204 6,159 3,157Jointly-controlled investment

Vitória Participações S.A. (1) 50,0 16,736 422,715 6,877 Indirect subsidiaries

Cheyney Financial S.A. 100,0 8,099 (11,692) (10,862) FAI – Financeira Americanas Itaú S.A. Crédito, Financia-mento e Investimento (1) and (3)

50,0 80,002 59,313 (10,669) 1,970 1,072 540

Shoptime S.A. 79,6 80,028 11,098 5,661

TV Sky Shop S.A. 80,0 146,372 11,104 10,780 27 52

Related Company

São Carlos Empreendimentos e Participações S.A. (2)

(564) (575) (8,408) (3,909)

(1) The financial statements were reviewed by other independent accountants. (2) Recorded as "Other accounts payables" in the balance sheet and as "Selling expenses" in the statement of

income. (3) Recorded as “Accounts receivable” in the balance sheet and as reduction “Expenses on sales” in the statement

of income.




The main inter-company transactions are agreed at rates, terms and values usually applied in the market in transactions of the same nature and are:

• Balances arising from intercompany transactions, recorded in intercompany accounts; • Income and expenses (net) arising from loan, remuneration, sale of merchandise and reimbursement based

and the allocation of common administrative expenses; • Transactions with the related company refer to real estate rent;

Lojas Americanas S.A. and Banco Itaú Holding Financeira S.A. organized on April 27, 2005 a jointly controlled subsidiary to act as a financial institution under the name of FAI - FINANCEIRA AMERICANAS ITAÚ S.A. CRÉDITO, FINANCIAMENTO E INVESTIMENTO (previously denominated Platy Participações S.A.). On February 23, 2006, BACEN (Brazilian Central Bank) granted authorization for the initiation of the financial company, that it began its operating activities in May, 2006 and acts in the creation and commercialization of financial services and products for the customers of Lojas Americanas, Americanas Express, Americanas.com S.A. Comércio Eletrônico and TV Sky Shop, with exclusiveness, for a period of 20 years, renewable automatically for undetermined period. With this association, Vitória Participações S.A. was constituted, as the controlling company of FAI, whose social capital is held 50% by Lojas Americanas and 50% by Banco Itaú Holding Financeira S.A. The initial social capital of FAI is R$80,002. On April 27, 2005, Banco Itaú Holding Financeira S.A. acquired 50% of Vitória Participações S.A., for an amount of R$400,000, being assigned R$3 to the social capital account and the difference as goodwill to a capital reserve account, based on the perspective of future profitability of the company. Due to this subscription, Lojas Americans recognized, in April 2005, a capital gain, recorded as non-operating income, in the amount of R$200,000. The association agreement establishes target performance goals for Lojas Americanas S.A. and Americanas.com S.A. Comércio Eletrônico, that must be reached in a maximum of 6 (six) years. It was also determined that Lojas Americanas S.A. will pay penalties should these goals not be achieved. The Company keeps a provision, in the amount of R$19,500, recorded as non-operating expenses, for fines in case of not meeting the goals. This provision is reviewed and adjusted, periodically, if necessary, in accordance with the achievement of these targets. As a guarantee of the contractual fines in case of not meeting the goals, Lojas Americanas will transfer to Banco Itaú, or any of its affiliates, credit rights existing with REDECARD, in up to 120% of the total value of the penalties, updated monthly by the variation of CDI. On June 16, 2005, the contract of temporary and partial permission between the Company and Banco Itaucred Financiamentos S.A. was signed, to offer, distribute and commercialize personal loans to customers, until the beginning of operations of FAI. Due to the new association and exclusiveness right with Banco Itaú Holding Financeira S.A. signed on April 27, 2005, the “Contract of Comercial Partnership” with Unibanco – União de Bancos Brasileiros S.A. and Banco Fininvest S.A. of December, 2003 was canceled on April 26, 2005, subjecting Lojas Americanas to a payment of R$ 44,774, recorded as non-operating expense in the 2005 fiscal team.




10 LOANS AND FINANCING

Parent Company Consolidated Object

Annual charges

Final Maturity 06.30.2006 03.31.2006 06.30.2006 03.31.2006

IN LOCAL CURRENCY

BNDES (Refurbishing and opening of new stores and expansion of IT systems)

Interest of 4.25% p.a. over TJLP

04/15/2008 (1) 6,914

7,821 6,914 7,821

Interest of 4.25% p.a. over variation of basket of currencies

04/15/2008 (1) 532

600

532 600

Working Capital

Interest up to 111.5% of CDI

06/16/2008 113,413

110,219

151,681 154,009

IN FOREIGN CURRENCY

Opening of new stores (IFC)

Interest of 4.75% p.a. + Libor

05/15/2015 76,721

78,705

76,721

78,705

Opening of new stores - Floating Rate Note (FRN)

Interest of 4.45% p.a. + Libor

06/15/2010 (1)

38,635 44,615

Working Capital

Exchange variation + interest of 7.76% p.a.+ Libor and/or up to 110.0% of CDI

03/21/2011 400,961

396,483

696,776 650,895

598,541 593,828 971,259 936,645

LONG-TERM

360,256 341,480

560,958 520,003

SHORT-TERM

238,285 252,348

410,301 416,642




Long-term financing by maturity year: Parent Company Consolidated

06.30.2006 03.31.2006 06.30.2006 03.31.2006 2007 46,005 34,459 97,481 74,1142008 158,044 148,384 292,841 272,7692009 40,228 44,267 49,847 53,9222010 54,233 52,393 59,043 57,2212011 30,555 30,669 30,555 30,6692012 8,912 8,945 8,912 8,9452013 8,912 8,945 8,912 8,9452014 8,912 8,945 8,912 8,9452015 4,455 4,473 4,455 4,473

360,256 341,480 560,958 520,003 (1) The Company and its subsidiaries are subject to certain debt covenants established in the financing agreements.

These covenants also include the maintenance of some minimum financial ratios calculated on an annual basis. Garantees The financing is guaranteed by CDBs – Certificates of Bank Deposit – in the amount of R$17,822; Fixed-Income Fund abroad, amounting to R$253,831; liens on financed machinery and equipment; bankers guarantor letters and promissory notes.




11 DEBENTURES On February 2, 2004, the Company received an amount of R$203,054 arising from the second public debentures issue, approved at a Board of Directors meeting held on November 25, 2003, as shown below:

Issue date

Type of issue

Outstandingdebentures

Value at issue date

Annual financial charges 06.30.2006

03.31.2006

1st series

01/01/2004

Public

10,000 R$ 100,000 CDI + 0.9% 108,235

104,203

2nd series

01/01/2004

Public

10,000 R$ 100,000 CDI + 0.9% 108,235 104,203

216,470 208,406

LONG-TERM

199,934

199,934

CURRENT

16,536

8,472 After the Assembly of Lojas Americanas S.A. Debenture Holders, held on October 5, 2005, the debentures incorporated the following characteristics:

• Form & type: simple, registered, subordinated and book-entry debentures, non convertible into shares; • Face value: the debentures will have a unit face value of R$10 (ten thousand Reais); • Guarantee: no guarantees; • Maturity: 1st and 2nd series in a normal flow of amortization in three equal and consecutive installments, being

the first on January 2, 2009; • Price, subscription and payment: the debentures were subscribed at their unit face value, plus pro rata

temporis remuneration, from the issue date to their respective subscription date; • Financial index: the financial indicator that measures the relation between the consolidated EBITDA and the

consolidated financial result, both related to the last 12 months, may not be less than 2.0; • Remuneration: 1st and 2nd series debentures will bear interest equal to the average daily rate of overnight

deposits in unrelated financial institutions, on a two hundred and fifty-two business day basis, provided by CETIP (Clearinghouse for the Custody and Financial Settlement of Securities), plus an annual rate of 0.9%, paid semiannually and annually, respectively.

• Disclosure: information of interest to debentures holders are published in Diário Oficial do Estado do Rio de Janeiro and in Jornal Valor Econômico.

• Limits and financial indices: in the case of default of the contractual clauses, the Fiduciary Agent shall call a General Assembly Meeting of the Debenture Holders to deliberate on the early expiration of the debentures. After the Assembly, the Fiduciary Agent shall declare the early expiration of all obligations attached to the debentures, unless the Debenture Holders at the meeting representing at least 75% of the debentures in circulation decide not to anticipate liquidation.

• Premiums: payment of premiums will be made, as from the last quarter of 2005, of 0.25% calculated over the unit face value of both debenture series, in case of any default of financial indicator limits, individually or collectively cited in the issue registry, should the Debenture Holders at an Assembly meeting decide not to go forth with the early expiration of the debentures.




12 LONG-TERM TAXES AND CONTRIBUTIONS The Company and its subsidiaries are claiming in court the approval for credits offset against PIS and COFINS (taxes on revenue) and questioning the collection of some taxes, such as the broadening of the PIS tax basis (Law No. 9718/98); Workers’ Compensation Insurance (SAT) payable to the National Institute of Social Security (INSS) and salary premium for education; increase in the FGTS rate, and the full offset of tax loss carryforwards (Law No. 8981/95) limited to 30% of taxable income. A provision for unpaid amounts or escrow deposits has been established and these amounts are monetarily restated according to the SELIC (Central Bank overnight rate), as shown below: Parent Company Consolidated 06.30.2006 03.31.2006 06.30.2006 03.31.2006 Tax for Social Security financing – COFINS 122,352 113,931 128,288 119,642

Social Integration Program - PIS 19,460 16,920 21,860 19,169

Income tax and Social Contribution 66,002 65,957 69,005 70,264 Education Salary and Accident Insurance – SAT 40,957 42,493 40,957 42,493 Others 1,638 1,596 2,774 2,658

250,409 240,897 262,884 254,226 The Company and its subsidiaries have opted for the special installment payment plans for taxes and social security debts in accordance with Law no. 10.637/02 and Nº10.684/03. The debts refer to PIS, COFINS, Education Salary, Industrial Accident Insurance - SAT and credit compensations not confirmed by the Internal Revenue Service. The debts which are in accordance with Law nº10.684/03 are being consolidated by the appropriate agencies for future adhesion confirmation to the program payment by installments.




13 PROVISION FOR CONTINGENCIES Parent Company Consolidated 06.30.2006 03.31.2006 06.30.2006 03.31.2006

Fiscal 5,139 6,868 7,690 9,419

Labor 5,114 8,932 5,776 9,594

Civil 76 308 592 761

Contractual fines 19,500 19,500 19,500 19,500

Other 1,088 1,088 11,129 6,174

30,917 36,696 44,687 45,448

LONG-TERM 27,911 31,645 34,535 33,314

CURRENT 3,006 5,051 10,152 12,134 The Company and its subsidiaries are parties to legal and administrative proceedings involving tax, labor, civil and other claims. Based on the opinion of its legal advisers, on analyses of outstanding claims and on prior experience relating to amounts claimed in labor cases, the Company set up a provision at an amount considered sufficient to cover potential losses. Also, the Company set up a provision, in the amount of R$19,500 for payment of fines in case of not meeting the goals established in the contract with Banco Itaú Holding Financeira S.A. The Company has other tax contingencies in the amount of approximately R$169,525 (Parent Company) and R$176,860 (Consolidated), referring basically to ICMS (State VAT). Based on the Company’s legal counsel opinion, who consider such losses as possible, no provisions for these contingencies have been recorded. 14 STOCKHOLDERS’ EQUITY (a) Capital Capital may be increased by the Board of Directors, without requiring any change in the Company's bylaws, up to 75,000,000,000 common and/or preferred shares. There are also no preferential subscription rights.




(b) Changes in Capital Stock Number of book-entry shares, without par value

Common Nominative

Preferred Nominative

Total

At December 31, 2004 and March 31, 2005 25,775,235,072 42,182,518,198 67,957,753,270

Capital increase 3,131,136 5,508,864 8,640,000

At June 30, 2005 25,778,366,208 42,188,027,062 67,966,393,270 Capital increase 218,553,205 384,518,550 603,071,755At December 31, 2005 and March 31, 2006 25,996,919,413 42,572,545,612 68,569,465,025 Capital increase 1,030,069,000 1,030,069,000

At June 30, 2006 25,996,919,413 43,602,614,612 69,599,534,025 Preferred shares are non-voting, but have priority in the distribution of dividends and return of capital, without premium, and in accordance with Law No. 9.457/97, receive dividends at a minimum rate of 10% over those received by common shares. Subscribed and paid-up shares from the Stock Option Plan in the first half of the year are entitled to 100% of the declared dividends for the year; and shares subscribed and paid up in the second half of the year are entitled to 50% of the declared dividends for the year.




(c) Changes in Shareholders’ equity

Resvenue reserves

Capital Legal For new

investments Treasury

stocks Accumulated

income

Total

January 1, 2005 152,882 19,513 56,123 (39,769) 188,749

Capital contribution in cash 1,911 1,911

Acquisition of own shares (11,134) (11,134)

Net Income for the period 176,148 176,148

Appropriations of net income:

. Legal Reserve 8,808 (8,808) -

. Reserve for new investments 107,340 (107,340) -

. Interest on Capital (18,000) (18,000)

. Interim dividends (42,000) (42,000)

December 31, 2005 154,793 28,321 163,463 (50,903) - 295,674

Capital increase with reserve 28,321 (28,321)


Net Income for the quarter 3,388 3,388

Interest on Capital (25,000) (25,000)

Interim dividends (35,000) (35,000)

March 31, 2006 183,114 103,463 (53,220) 3,388 236,745

Capital contribution in cash 39,724 39,724


Net Income for the quarter 10,809 10,809

June 30, 2006 222,838 103,463 (66,902) 14,197 273,596 (d) Treasury Stock In accordance with CVM Instructions No. 10/80 and No. 268/97, the Board of Directors approved, at a meeting held on June 4, 2003, the Company's new Share Repurchase Program aimed at keeping shares in treasury or subsequently




canceling them. The program provides for the repurchase of up to 1,078,894,232 registered common book-entry shares, and 3,650,532,342 registered preferred book-entry shares.

Said Share Repurchase Program is being extended every three hundred and sixty-five (365) days, since its publication, in order for the Company to effectively achieve the authorized repurchase level. At June 30, 2006, the Company had already repurchased a total of 662,822,027 registered common book-entry shares and 1,288,392,375 registered preferred book-entry shares. At June 30, 2006, the Company held registered common and preferred book-entry shares in treasury at an average cost of (per one thousand shares) R$40.03 (R$36.58 in March of 2006) and R$31.33 (R$26.57 in March of 2006), respectively. Changes in treasuary shares: Quantity of book-entry shares, without par value Common

Nominative Preferred

Nominative

Total

Balance – R$/

thousand At Janaury 1, 2005 537,140,091 949,294,652 1,486,434,743

39,769

Acquisition of shares 8,496,591 22,390,861 30,887,452

1,225

At June 30, 2005 545,636,682 971,685,513 1,517,322,195

40,994

Acquisition of shares 62,433,745 157,944,049 220,377,794 9,909 At December 31, 2005 608,070,427 1,129,629,562 1,737,699,989 50,903 Acquisition of shares 11,500,000 20,532,813 32,032,813 2,317

At March 31, 2006 619,570,427 1,150,162,375 1,769,732,802 53,220 Acquisition of shares 43,251,600 138,230,000 181,481,600 13,682

At June 30, 2006 662,822,027 1,288,392,375 1,951,214,402 66,902

Market value at June30, 2006 per one thousand shares R$ 94.48 R$ 78.00

(e) Profit Sharing In accordance with the Company's bylaws, employees are entitled to an annual participation of up to 6% of net income, net of any accumulated losses; management's profit sharing scheme is based on criteria approved each year by the Board of Directors.




(f) Reserve for future investments This reserve, to finance the Company's capital expenditures, is based on capital budgets submitted for approval at the Stockholders' Annual General Meeting and aims at financing the Company's investment plans. (g) Dividends According to Company bylaws, shareholders are entitled to a minimum mandatory dividend corresponding to 25% of net income for the year, calculated in accordance with Brazilian corporate law. (h) Extraordinary Dividends and Interest on Capital At the Extraordinary Board of Directors’ Meeting held on March 06, 2006, the Board approved the payment of extraordinary dividends, beginning April 3, 2006, in the gross amount of R$60,000 (net amount of R$56,250), debited to the revenue reserves account in the Financial Statements of December 31, 2005, being R$35,000 in the form of extraordinary dividends and R$21,250 as interest on capital, already net of withholding income tax at the rate of 15% on the gross value of R$25,000. The calculation for dividends for the year is demonstrated below:

Registered common

Registered preferred

EXTRAORDINARY DIVIDENDS

Entitled to full dividends

R$ 0.493173

R$ 0.542491

INTEREST ON CAPITAL

- GROSS


R$ 0.352267

R$ 0.387494

- NET OF WITHHOLDING INCOME TAX


R$ 0.299427

R$ 0.329370

15 EMPLOYEES’ BENEFITS The Company offers its executives a share option plan. The nature, conditions, amounts and prices of the plan are presented below, as required by CVM Resolution No. 371/00.




Share Option Plan

This plan provides for the subscription of common and preferred shares. Payment for the shares can be made in a lump sum or in installments, with own funds or funds arising from the net amount of the share of annual net income assigned to the buyers. These shares guarantee the buyers the same rights as those held by the other shareholders. Unpaid installments at June 30, 2006 amount to R$57,552 (R$29,330 in March 2006) and are recorded in long-term assets, Parent Company and Consolidated; according to contractual clauses, these amounts are monetarily restated and accrue interest of 6% p.a.. The individual contracts contain repurchase clauses, which become effective once the employment relationship is terminated. Presented below is a statement of shares offered under this plan and the respective adjusted subscription prices according to the contractual clauses:

Quantities in thousands of shares PLANS

2001 2003 2005 Total

ON PN

PN

PN

ON PN

At December 31, 2005 and March 31, 2006 206,959 364,120 26,042 1,036,269 206,959 1,426,431

- Subscription (1,800) (1,028,269) (1,030,069)

At June 30, 2006 206,959 364,120 24,242 8,000 206,959 396,362

Subscription price

R$ 3.65 R$ 2.83 R$ 18.56 R$ 38.60

According to contractual clauses, the 2001, 2003 and 2005 plans are valid until August 2, 2006, September 15, 2008, and September 13, 2010, respectively. After the validity’ terms (duration), the plans are cancelled. 16 FINANCIAL INSTRUMENTS The Company uses financial instruments for the purpose of hedging its assets and liabilities. The risks of these operations are managed through specific instruments in compliance with policies and limits previously discussed by committees of the Company. The main risk factors are listed below:

a) Exchange and interest rate risks

These risks refer to fluctuations in the Libor and exchange rates used in foreign currency loans. The Company uses derivatives with a view to protecting from these fluctuations, thus avoiding possible losses. At June 30, 2006, the derivatives position was as follows: • Swap Swap positions maturing until March of 2010, amount to: R$178,327 (R$296,072 in March of 2006) Parent Company and R$454,157 (R$535,678 in March of 2006) Consolidated, with a differential payable of R$41,404




(R$41,452 in March of 2006) Parent Company and R$134,195 (R$135,331 in March of 2006) Consolidated, recorded in the account “Loans and Financing - working capital. The principal swap operations with financial institutions are registered with the Clearing House for Custody and Financial Settlement of Securities (CETIP) and do not present significant differences between book and fair values. These operations generated a loss for the quarter of R$11,739 (R$15,287 in June of 2006) Parent Company and R$37,993 – Consolidated, which was recorded as financial expense.

b) Credit risk

Credit risk is minimized by the fact that approximately 56% (45% - Consolidated) of the Company’s sales are paid in cash and the remainder with credit cards administered through third parties and by jointly controlled company FAI – FINANCEIRA AMERICANAS ITAÚ S.A. CRÉDITO, FINANCIAMENTO E INVESTIMENTO. The Company has allowances for doubtful accounts in an amount considered sufficient to cover possible losses. 17 NON-OPERATING RESULT In 2006, the non-operating result is consisted mainly by the adjustment of contingency provisions. In 2005, the non-operating revenues are represented by the participation gain through the investment on the jointly controlled Vitória Participações S.A., amounted R$200,000, as commented on the Explanatory Notes 9, and the non-operating expenses are mainly represented (i) by the contractual rescission fine with the Unibanco – União de Bancos Brasileiros and Banco Fininvest S.A., amounted R$ 44,774, (ii) others charges acurred up by the rescission referred and (iii) others. 18 INSURANCE COVERAGE The Company holds insurance policies for fire and miscellaneous risks related to inventories and permanent assets, as well as theft, at amounts considered sufficient to cover possible losses. At June 30, 2006, the types of coverage are shown below:

Insured assets Risk coverage Value of insurance

Inventories and permanent assets Fire and mecellaneous risks 1,232,080Inventories and permanent assets Loss of profit 225,523 Civil Responsability Up to 15,000Cash Theft 500




19 SUBSEQUENTS EVENT Having as objective the integration and sinergy of the operating and administrative activities of the Parent Company Lojas Americanas S.A. (LASA) and the subsidiary Americanas.com – Comércio Eletrônico (ACOM), in ACOM´s Special General Meeting at July 14th , 2006 and in LASA’s Special General Meeting, at August 07th, 2006 was approved the incorporation of the subsidiaries` shares by Parent Company, converting ACOM into a wholly-owned subsidiary of LASA. In order to determine the exchange ratios of shares issued into LASA’s common and preferred shares, an accounting appraisal report was prepared by independent specialists, based on March 31st , 2006, as well as economic-financial appraisal reports of the respective Companies, prepared by a top investment bank, based upon the discounted cash flow method. Considering the results of the described valuations, it was approved by the Board of Directors and the respectives shareholders of the companies, the substitution of one common shares of ACOM subsidiary by 405,686100836 LASA’s shares, of which 151.532463804 common shares and 254.153637032 preferred shares. As consequence, the social capital of Parent Company LASA was increased by R$ 16,199, with emission of 2,171,991,176 common shares and 3,642,912,173 preferred shares.

FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMMERCIAL, INDUSTRIAL & OTHER COMPANIES 01.01– IDENTIFICATION 1 – CVM CODE 2 –COMPANY NAME 3 – Federal Corporate Taxpayers’ Registration Number (CNPJ) 00808-7 LOJAS AMERICANAS S.A. 33.014.556/0001-96

02.01 – BALANCE SHEET – ASSETS (IN THOUSANDS OF BRAZILIAN REAIS - R$)

1- CODE 2- DESCRIPTION 3- 06/30/2006 4- 03/31/2006

1 Total assets 2,469,771 2,455,220

1.01 Current assets 1,662,220 1,683,120

1.01.01 Cash and cash equivalents 853,229 820,945

1.01.01.01 Cash and banks 125,805 118,559


1.01.02 Receivables 108,053 124,191

1.01.02.01 Trade accounts receivable 108,053 124,191

1.01.03 Inventories 538,525 590,083

1.01.04 Other 162,413 147,901

1.01.04.01 Recoverable taxes 77,385 76,755


1.01.04.03 Interest on capital receivable 49,579 45,007

1.01.04.04 Other receivables 15,481 14,322

1.02 Long-term assets 302,013 276,451

1.02.01 Sundry receivables 0 0

1.02.02 Receivables from related parties 57,552 29,330

1.02.02.01 Affiliated companies 0 0

1.02.02.02 Subsidiaries 0 0

1.02.02.03 Other related parties 57,552 29,330

1.02.02.03.01 Receivables from stockholders 57,552 29,330

1.02.03 Other 244,461 247,121



1.02.03.03 Escrow deposits 45,077 45,014


1.02.03.05 Other receivables 0 0

1.03 Permanent assets 505,538 495,649

1.03.01 Investments 166,437 170,269

1.03.01.01 In affiliated companies 0 0

1.03.01.02 In subsidiaries 166,091 169,521

1.03.01.02.01 Equity Result 0 0

1.03.01.02.02 Goodwill in subsidisries 166,091 169,521

1.03.01.03 Other investments 346 748

1.03.02 Property and equipment 219,114 211,191

1.03.02.01 Installations 51,562 48,045

1.03.02.02 Machinery and equipment 51,528 49,350

1.03.02.03 Improvements 91,016 84,245

1.03.02.04 Construction in progress 1,487 5,342

1.03.02.05 Vehicles 367 408

1.03.02.06 Other 23,154 23,801

1.03.03 Deferred charges 119,987 114,189

1.03.03.01 Preoperating expenses 28,861 28,477

1.03.03.02 IT projects 54,890 54,526

1.03.03.03 Software license 6,224 6,084

1.03.03.04 Logistics and distribution projects 15,154 11,785

1.03.03.05 Other 14,858 13,317

FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMMERCIAL, INDUSTRIAL & OTHER COMPANIES 01.01– IDENTIFICATION 1 – CVM CODE 2 –COMPANY NAME 3 – Federal Corporate Taxpayers’ Registration Number (CNPJ) 00808-7 LOJAS AMERICANAS S.A. 33.014.556/0001-96

02.02 – BALANCE SHEET – LIABILITIES (IN THOUSANDS OF BRAZILIAN REAIS - R$) 1- CODE 2- DESCRIPTION 3- 06/30/2006 4- 03/31/2006 2 Total liabilities 2,469,771 2,455,2202.01 Current liabilities 1,119,793 1,194,7092.01.01 Loans and financing 410,301 416,6422.01.02 Debentures 16,536 8,4722.01.03 Suppliers 530,907 545,4252.01.04 Taxes payable 63,670 55,2162.01.05 Dividends payable 0 56,2502.01.06 Provisions 32,943 44,2862.01.06.01 Payroll and related charges 22,791 22,1522.01.06.02 Employee profit sharing 0 10.0002.01.06.03 Provision for contingencies 10.152 12,1342.01.07 Payables to related parties 0 02.01.08 Other 65,436 68,4182.01.08.01 Professional fees - third parties 6,511 3,8732.01.08.02 Others payables 58,925 64,5452.02 Long-term liabilities 1,058,311 1,007,4772.02.01 Loans and financing 560,958 520,0032.02.02 Debentures 199,934 199,9342.02.03 Provisions 297,419 287,5402.02.03.01 Provision for contingencies 34,535 33,3142.02.03.02 Income tax and Social Contribution 262,884 254,2262.02.04 Payables to related parties 0 02.02.05 Other 0 02.03 Deferred income 0 02.04 Stockholders’ equity 18,071 16,2892.05 Capital 273,596 236,7452.05.01 Paid-up capital 155,936 129,8942.05.01.01 Paid-up capital 222,838 183,1142.05.01.02 Treasury stock (66,902) (53,220)2.05.02 Capital reserves 0 02.05.03 Revaluation reserves 0 02.05.03.01 Own assets 0 02.05.03.02 Subsidiaries / affiliated companies 0 02.05.04 Profit reserves 103,463 103,4632.05.04.01 Legal 0 02.05.04.02 Statutory 0 02.05.04.03 For contingencies 0 02.05.04.04 Unrealized profits 0 02.05.04.05 Profit retention 0 02.05.04.06 Special for unpaid dividends 0 02.05.04.07 Other profit reserves 103,463 103,4632.05.04.07.01 For future investments 103,463 103,4632.05.05 Retained earnings (accumulated deficit) 14,197 3,388


03.01 – STATEMENTS OF INCOME (IN THOUSANDS OF BRAZILIAN REAIS - R$)

1- CODE 2- DESCRIPTION 3- 04/01/2006 to 06/30/2006 4- 01/01/2006 to 06/30/2006 5- 04/01/2005 to 06/30/2005 4- 01/01/2005 to 06/30/2005 3.01 Gross revenue from sales and/or services 1,103,610 2,074,511 712,663 1,527,5653.02 Deductions from gross revenue (260,420) (496,509) (170,249) (364,556)3.03 Net revenue from sales and/or services 843,190 1,578,002 542,414 1,163,0093.04 Cost of sales and/or services (603,347) (1,113,918) (380,053) (818,594)3.05 Gross profit 239,843 464,084 162,361 344,4153.06 Operating income (expenses) (230,538) (448,783) (169,303) (334,445)3.06.01 Selling expenses (143,925) (274,992) (95,968) (195,216)3.06.02 General and administrative expenses (15,856) (33,879) (16,917) (33,046)3.06.02.01 Management fees (1,486) (2,955) (1,514) (3,026)3.06.02.02 Other (14,370) (30,924) (15,403) (30,020)3.06.03 Financial (51,314) (100,795) (41,189) (75,989)3.06.03.01 Financial income 24,254 47,685 61,288 74,4653.06.03.02 Financial expenses (75,568) (148,480) (102,477) (150,454)3.06.04 Other operating income 985 985 0 03.06.05 Other operating expenses (20,428) (40,102) (15,229) (30,194)3.06.05.01 Depreciation/amortization (20,428) (40,062) (15,229) (30,192)3.06.05.02 Other 0 (40) 0 (2)3.06.06 Equity in subsidiaries and affiliates 0 0 0 03.07 Operating Income 9,305 15,301 (6,942) 9,9703.08 Non operating income (expenses) (12,587) (10,855) 105,929 105,8353.08.01 Income 0 0 200,000 200,0003.08.01.01 Capital Gain 0 0 200,000 200,000


3.08.02 Expenses (12,587) (10,855) (94,071) (94,165)

3.09 Income before taxes and profit sharing (3,282) 4,446 98,987 115,805

3.10 Provision for income and social contribution taxes (3,123) (7,328) (383) (5,698)

3.11 Deferred income tax 18,212 19,441 7,507 7,455

3.12 Profit sharing/ Contributions statutory 0 0 0 03.12.01 Profit sharing 0 0 0 03.12.02 Contributions 0 0 0 03.13 Reversal of interest on capital 0 0 0 03.14 Minority Interest (998) (2,362) (1,950) (2,600)3.15 Net income (loss) 10,809 14,197 104,161 114,962 Number of shares, ex-treasury shares (thousand) 67,648,320 67,648,320 66,449,071 66,449,071

Earnings per share 0.00016 0.00021 0.00157 0.00173

Loss per share

(Convenience Translation into English from the Original Previously Issued in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMERCIAL COMPANY, INDUSTRIAL AND OTHERS 01.01– IDENTIFICATION 1 – CVM CODE 2 –COMPANY NAME 3 – Federal Corporate Taxpayers’ Registration Number (CNPJ) 00808-7 LOJAS AMERICANAS S.A. 33.014.556/0001-96

17

09.01 – PARTICIPATION IN SUBSIDIARIES AND/OR AFFILIATED COMPANIES 1- ITEM

2 – NAME OF SUBSIDIARY/AFFILIATED COMPANY 3 – CNPJ 4 – CLASSIFICATION 5 - % INTEREST IN INVESTEE’S CAPITAL

6 - % INVESTOR’S STOCKHOLDERS’ EQUITY

7 – TYPE OF COMPANY

8 – NUMBER OF SHARES HELD IN THE CURRENT QUARTER

( thousands )

9 – NUMBER OF SHARES HELD IN THE PREVIOUS QUARTER

( thousands )

01 AMERICANAS.COM 02.866.535/ 0001 -75 PRIVATELY HELD SUBSIDIARY 81.00 28.15

COMMERCIAL, INDUSTRIAL AND OTHER COMPANIES 61,124,826 61,124,826

02 FACILITA SERVIÇOS E PROPAGANDA S.A. 29.061.991/ 0001-02 PRIVATELY HELD SUBSIDIARY 100.00 20.40

COMMERCIAL, INDUSTRIAL AND OTHER COMPANIES 100 100

03 VITÓRIA PARTICIPAÇÕES S.A. 06.035.411/0001-07 OPEN CAPITAL SUBSIDIARY 50.00 77.26

COMMERCIAL, INDUSTRIAL AND OTHER COMPANIES 3,190 3,190

FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMERCIAL COMPANY, INDUSTRIAL AND OTHERS 01.01– IDENTIFICATION 1 – CVM CODE 2 –COMPANY NAME 3 – Federal Corporate Taxpayers’

Registration Number (CNPJ) 00808-7 LOJAS AMERICANAS S.A. 33.014.556/0001-96

18

1- Item 01 2- Order number 2 3- Registration number at CVM CVM/SRE/DEB/2004/004 4- Registration date at CVM 01/29/2004 5- Issued series 1st 6- Type of issue SIMPLE 7- Nature of issue PUBLIC 8- Issue date 01/01/2004 9- Maturity 01/01/2011 10- Type of debentures SUBORDINATED 11- Yield CDI + 0.9% per year 12- Premium/discount 0,25% on unit price 13- Face value (R$) 10,823.50 14- Issued amount (thousands of R$) 108,235 15- Quantity of debentures issued (unit) 10,000 16- Outstanding (unit) 10,000 17- In treasury (unit) 0 18- Redeemed (unit) 0 19- Converted (unit) 0 20- To be placed (unit) 0 21- Date of last repricing 22- Date of next event

FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMERCIAL COMPANY, INDUSTRIAL AND OTHERS 01.01– IDENTIFICATION 1 – CVM CODE 2 –COMPANY NAME 3 – Federal Corporate Taxpayers’

Registration Number (CNPJ) 00808-7 LOJAS AMERICANAS S.A. 33.014.556/0001-96

19

10.01 – CHARACTERISTICS OF PUBLIC AND PRIVATE ISSUANCE OF DEBENTURES 1- Item 022- Order number 23- Registration number at CVM CVM/SRE/DEB/2004/0054- Registration date at CVM 01/29/2004 5- Issued series 2nd

6- Type of issue SIMPLE 7- Nature of issue PUBLIC8- Issue date 01/01/20049- Maturity 01/01/201110- Type of debentures SUBORDINATED11- Yield CDI + 0.9% per year12- Premium/discount 0,25% on unit price 13- Face value (R$) 10,823.5014- Issued capital (thousands of R$) 108,23515- Quantity of debentures issued (unit) 10,00016- Outstanding 10,000 17- In treasury (unit) 0 18- Redeemed (unit) 019- Converted (unit) 0 20- To be placed (unit) 021- Date of last repricing 22- Date of next event

FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMMERCIAL COMPANY, INDUSTRIAL AND OTHERS 00807-7 LOJAS AMERICANAS SA 33.014.556/0001-96 15.01 – INVESTMENT PROJECTS

20

Investments made until June 30, 2006 approximated R$40,827 parent company and R$62,204 consolidated, from the total amount of R$127,200 parent company and R$158,100 consolidated, scheduled for the year, as detailed below:

Parent Company Consolidated

• IT 5,192 17,573

• Renovation and opening of stores - 32,826 32,826

• Distribution and logistics - 7,516

• Other Projects - 2,809 4,289

40,827 62,204

FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES COMMISSION (CVM) INTERIM FINANCIAL STATEMENTS (ITR) 06/30/2006 Corporate Law COMMERCIAL COMPANY, INDUSTRIAL AND OTHERS 01.01– IDENTIFICATION 1 – CVM CODE 00808-7

2 – COMPANY NAME LOJAS AMERICANAS S.A.

3 – Federal Corporate Taxpayers’ Registration Number (CNPJ) 33.014.556/0001-96

Documents

Lojas Americanas S.A. - static.lasa.com.brInstitute of Independent Auditors (IBRACON), together with the Federal Accounting Council, which consisted principally of: (a) inquiries of