• Embraer Analyst & Investors Meeting

• Business Aviation

Paris, France - June 15th, 2005

Luís Carlos AffonsoSenior Vice-President Corporate Aviation Market

Forward-looking Statement

This presentation includes forward-looking statements or statements about events or circumstances which have not occurred. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting our business and our future financial performance. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things: general economic, political and business conditions, both in Brazil and in our market.

The words “believes,” “may,” “will,” “estimates,” “continues,” “anticipates,” “intends,” “expects” and similar words are intended to identify forward-looking statements. We undertake no obligations to update publicly or revise any forward-looking statements because of new information, future events or other factors. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this presentation might not occur. Our actual results could differ substantially from those anticipated in our forward-looking statements.

Embraer inBusiness Aviation

33.6

10.5

2004

1.02.2

3.8

4.1

1.9

1.22.6

4.5

6.0

3.3

2014

16.0

Business Aviation Market Size

Source: AT Kearney and Embraer estimates

Airframe / OEM

Completion and Refurbishment

MROFBOAircraft ManagementCharter andFractional Ownership

23.4

(2004 US$ billions)

Solid position in the commercial aviation market

Embraer Competitive Factors

Enterprise expertiseAbility to identify market and product opportunitiesDevelopment of differentiated products at competitive costsIndustrial efficiencyGlobal customer support and services

Solid position in the commercial aviation market

General Aviation previous experienceBusiness Aviation Market experience

Enterprise expertiseAbility to identify market and product opportunitiesDevelopment of differentiated products at competitive costsIndustrial efficiencyGlobal customer support and services

Embraer Competitive Factors

Worldwide acceptance Continuous market understanding and product enhancementUnmatched reliability levels

Enterprise expertiseAbility to identify market and product opportunitiesDevelopment of differentiated products at competitive costsIndustrial efficiencyGlobal customer support and services

Solid position in the commercial aviation market

General Aviation previous experience

Embraer Competitive Factors

Business Aviation Market experience

The world discovers the Legacy

52 aircraft, 13 countries, the right choice

Special runway operation

First large cabin twin jet capable to operate in LCY

Wet and dry operations

Steep approach landing

Increased range capability:

London – Moscow ( 1,420 nm)

London – Cairo ( 1,930 nm)

London – Azores ( 1,750 nm)Certified in 4Q 2004

LCY Operation

8 pax

4 pax

Mach 0.74 DELIVERED

Ready for the most demanding missions

Short runways performance improvement

Enhanced performance calculations

Demanding conditions: improved take-off performance

More flexibility: shorter runaway lengths, more airports available

Certified in 4Q/2004DELIVERED

Fine tuned to meet customer needs

Range improvementSantos Dumont, Brazil: 1,315 to 1,730 nm ( + 32%)Key West, USA: 1,990 to 2,230 nm (+ 12%)Bern, Switzerland: 1,604 to 1,922 nm (+ 20%)London City, UK: 1,700 nm ( cleared to operate)

Ceiling

More flexibility

Freedom: avoid congested flight levels

Less turbulence

Less traffic

Certified in 1Q/ 2005(also as a SB for current operators)41,000 ft

DELIVERED

Improved mission capability

Connectivity

128 kbps wireless network powered by Inmarsat Swift64© satellite communication service, providing:

En route productivity enhancementIn-flight office

Upgradable to future available B-GAN service (up to 432 Kbps per channel)

Available as of 2Q 2005

HSD - High Speed Data

Connected at the speed of business

Take-off and landing altitude expansion

Allowance to operate from runways located at high altitudes

Teterboro, NJ - Telluride, CO ( 1,640 nm)non-stop with 8 passengers on board

Opens access to high-altitude airportsspread around the world

Available as of 4Q/2005

9,500 ftNew heights

CTA / FAA / JAA / CIS

New Interior

Range

41,000 ftCeiling

MaintenancePlan

LCYOperation

Short RunwayPerformance

2002

Certification

Enhancements

2003 20052004

Legacy Landmarks

Legacy Landmarks

Promises made … promises delivered

Enhancementsto come

Window Shade

HSD

9,500 ft Take-off Landing Altitude

EVS

LED lighting

EFB

Legacy Authorized Sales Representative Network

United Kingdom and Ireland

Sub – Saharian African Countries

Belgium MonacoNetherlands Côte d’AzurLuxembourg

Growing Sales Structure

Super midsize category market share

15%

8%

11% 11%

2002 2003 2004 2005-2014

90% of 2005 production sold

Consistent deliveries performance

Worldwide acceptance Continuous market understanding and product enhancementUnmatched reliability levels

Enterprise expertiseAbility to identify market and product opportunitiesDevelopment of differentiated products at competitive costsIndustrial efficiencyGlobal customer support and services

Solid position in the commercial aviation market

General Aviation previous experience

Embraer Competitive Factors

Business Aviation Market experience

Vision

To become a major player in the Business Aviation Market

within 10 years by providing innovative and differentiating

product and service solutions with added value to our

customers and shareholders.

Understanding the market

In-depth assessment of the Business Aviation Market

4 advisory board meetings4 global market surveys3,000 operators surveyed9 concept-aircraft tested + 6 under evaluation

Integrated solution

Comprehensive training programOutstanding support and total care programs

Extensive service centers coverageAircraft exchange facilitation

Third-party financing packagesFBO and aircraft management partnerships

Truly revolutionary products

Truly revolutionary products – design drivers

Docile flying qualitiesNext generation engines Designed for high utilizationHigh Availability

Premium comfortOutstanding performanceLow operating costHuman factors

Very Light and Light Jets by Embraer

Truly revolutionary products

Program Data

Very Light and Light Jets

mid 2009mid 2008Entry into Service

US$ 235 millionInvestment

US$ 2.75 million

Embraer VLJ Embraer LJItem

US$ 6.65 millionPrice

Preliminary data

Product portfolio expansion

Very-light

Entry

Light

Mid-light

Mid-size

Super Mid-Size

Large

Ultra-Long Range

Global

Thank you!