1

Disclaimer

This presentation contains forward-looking statements regarding the prospects of thebusiness, estimates for operating and financial results, and those regarding Cia. Hering'sgrowth prospects. These are merely projections and, as such, are based exclusively onthe expectations of Cia. Hering management concerning the future of the business andits continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, governmentregulations, competitive pressures, the performance of the Brazilian economy and theindustry, among other factors and risks disclosed in Cia. Hering’s filed disclosuredocuments and are, therefore, subject to change without prior notice.

2

AGENDA:

• Highlights• Operating Performance• Stock Market• Business Strategy and Outlook• Business Strategy and Outlook

3Q08 Highlights

RESULTS SHOW GROWTH POTENTIAL

• Gross revenue in domestic market increased 53.8%

• Hering brand sales rose 66.4%

• Same-store sales for the Hering Stores grew 25.4%

• EBITDA Margin of 16.4%, +4.7 p.p over 3Q07

CONTINUED GROWTH PLANCONTINUED GROWTH PLAN

• Price repositioning well accepted by the consumers

• Continuous store expansion plan

• Marketing campaign “eu uso Hering desde sempre” with a new ap proach

• Actions focused on improving the Hering Store card base

SUSTAINABLE GROWTH

• R$ 5.3 million cash flow

• R$ 10.3 million capex4

AGENDA:

• Highlights

•Operating Performance• Stock Market• Business Strategy and Outlook

147.3

14.6

9.2

80

100

120

140

37.0%

41.8%

Domestic

Foreign Market

110.4

156.5

By Market

Gross Revenue (R$ million)

95.8

147.3

0

20

40

60

80

3Q07 3Q08

37.0%

53.8%

Domestic Market

Domestic market gains more relevance.

6

Gross Revenue – Domestic Market (R$ million)

56.7

84.0

90

110

130

150

115.6

15.7

11.2

13.0

2.9

3.0

90

110

130

150

By Brand

147.3

15.8%

28.3%

PUCdzarmOthers

95.8Multi-brand

Hering

By Distribution Channel

53.8%

147.3

95.8

39.1

63.3

-10

10

30

50

70

3Q07 3Q08

69.5

12.2

-10

10

30

50

70

3Q07 3Q08

28.3%

66.4%Franchised / Owned

48.3%

61.8%

Hering

Consolidation of the strategy for the Hering brand pushed up the sales.

7

4.2

0.3

Gross Revenue – Foreign Market (R$ million)

Private Label vs. Own Brands By Destination

10.0

4.28101214161820

58.1%

14.6

9.2

37.0%

9.2

14.6

North America

1.2 0.6

2.21.1

0.4

6.5

7.0

3Q07 3Q08

Own Brands are the focus for the foreign market.

8

4.6 5.0

4.2

02468

3Q07 3Q08

Private Label

Own Brands8.8%

North America

Mercosul

Latin AmericaEurope

Others

58,3

7.6 p.p.

Gross Profit and Gross Margin Adjusted EBITDA and EBITDA Margin

37.9%

45.5%

Gross Profit and EBITDA (R$ million)

35,0

3Q07 3Q08

10.8

21.1

11.7%16.4%

3Q07 3Q08

4.7 p.p.

Sales increase, costs drop andlarger participation of own stores.

9

95.3%

66.4%

Stores Distribution

Brands are present in 22 brazilian states with 209 Herin g Stores, 50 PUC Stores and 14,272 clients in the multi-b rand retail. 10

176192

226

274

48

151

229

277

325

48

181

Expansion Plan

209

160

20

Hering Store Chain Expansion

1014 25 33 37 51 51

141 146156

176192

2006 3Q07 2007 3Q08 2008 2009 2010

Owned StoresFranchise

* estimated

* * *

14 Hering Stores were opened in the third quarter.By the end of 2008, there will be 20 more.

11

3942

44

50

57

1923

23

22

22

Goal: 172

281

248

225

Distribution Network Evolution

308

209

Distribution Network (number of stores)

Goal: 224

151 160181

209229

2006 3Q07 2007 3Q08 2008

Hering PUC Abroad

Seventeen stores were launched in the quarter:14 Hering Stores and three PUC Stores.

*

* estimated12

Period State City Location Status

1Q08 PI Teresina Shopping Riverside Walk Opened1Q08 SP São Paulo Bourbon Shopping Pompéia Opened2Q08 SP São Paulo Rua Dr. Diogo de Farias Opened2Q08 SP Santa B.D'Oeste Tivoli Shopping Opened2Q08 SP São Paulo Rua Juventus Opened2Q08 MG Juiz de Fora Independência Shopping Opened2Q08 SP Guaratinguetá Shopping Buriti Guará Opened2Q08 PB João Pessoa Shopping Tambiá Opened2Q08 SE Aracaju Shopping Jardins Opened

Expansion until September 2008 - Franchise

Status

1Q08

2 Franchises opened

2Q08

10 Franchises opened

2Q08 SE Aracaju Shopping Jardins Opened2Q08 PR Maringá Shopping Avenida Center Opened2Q08 PE Caruaru Shopping Caruaru Opened2Q08 DF Brasília Liberty Mall Opened3Q08 MG Divinópolis Rua A.Olimpio de Morais Opened3Q08 SP Botucatu Rua Monsenhor Ferrari Opened3Q08 SC Florianópolis Floripa Shopping Opened

3Q08 SP São Vicente Brisamar Shopping Opened

3Q08 SP Campinas Campinas Shopping Opened3Q08 BA Feira de Santana Shopping Iguatemi Opened3Q08 MG Patos de Minas Rua Agenor Maciel Opened3Q08 SP Jau Rua Amaral Gurgel Opened3Q08 PR S. José dos Pinhais Shopping São José Opened3Q08 SP São Paulo Rua Bernardino de Campos Opened

3Q08

10 Franchises opened

13

Period State City Location Status

4Q08 SP São Paulo Shopping Metrô Blvd. Tatuapé Confirmed

4Q08 SP São Paulo Rua Min. Roberto Cardoso Alves Confirmed

4Q08 PE Recife Shopping Plaza Casa Forte Confirmed

4Q08 SP Votuporanga Rua Pernambuco Confirmed

4Q08 SC Criciuma Shopping Della Giustina Confirmed

4Q08 MG Três Corações Rua Julião Arbex Confirmed

4Q08 GO Rio Verde Shopping Rio Verde Confirmed

4Q08 SP Limeira Center Plaza Shopping Confirmed

4Q08 SC Jaraguá do Sul Shopping Center Breithaupt Confirmed

Status

4Q08

20 Franchises confirmed

1 Franchise forecasted

Expansion Plan for the 4Q08 - Franchise

4Q08 SC Jaraguá do Sul Shopping Center Breithaupt Confirmed

4Q08 MG Montes Claros Montes Claros Shopping Center Confirmed

4Q08 SP São Paulo Shopping Central Plaza Confirmed

4Q08 RO Porto Velho Porto Velho Shopping Confirmed

4Q08 RS Porto Alegre BarraShoppingSul Confirmed

4Q08 RJ Macaé Shopping Plaza Macaé Confirmed

4Q08 GO Anápolis Brasil Park Shopping Confirmed

4Q08 SC Itajaí Itajaí Shopping Confirmed

4Q08 SP Bauru Bauru Shopping Confirmed

4Q08 PR Curitiba Shopping Jardins das Américas Confirmed

4Q08 SP São B. do Campo Loja de Rua Confirmed

4Q08 SP Pindamonhangaba Rua Bicudo Leme Confirmed

4Q08 SP Taubaté Taubaté Shopping Forecasted

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Period State City Location Status

2Q08 RJ Rio de Janeiro Ilha Plaza Shopping Opened

2Q08 SP São Paulo Shopping Taboão Opened

2Q08 PR Curitiba Palladium Shopping Center Opened

3Q08 SP São Paulo Shopping Penha Opened

3Q08 SP São Paulo Shopping Metrô Itaquera Opened

3Q08 RJ Rio de Janeiro Shopping Tijuca Opened

3Q08 PR Curitiba Rua XV de Novembro Opened

Status

2Q08

3 Stores Opened

3Q08

4 Stores Opened

Expansion Plan for 2008 – Owned Stores

3Q08 PR Curitiba Rua XV de Novembro Opened

4Q08 RJ Rio de Janeiro Shopping Grande Rio Confirmed4Q08

1 Store Confirmed

15

Hering Store Network - Indicators

Hering Store Performance 3Q07 3Q08 Var. 9M07 9M08 Var.

Number of Stores 160 209 30.6% 160 209 30.6%

Franchise 146 176 20.5% 146 176 20.5%

Own 14 33 135.7% 14 33 135.7%

Sales (R$ thous.) 59,046 91,792 55.5% 167,879 269,816 60.7%

Same-Store Sales Growth 25.4% 34.4%

Sales Area (m²) 21,669 27,588 27.3% 21,669 27,588 27.3%

Sales (R$ per m²) 2,776 3,395 22.3% 8,006 10,480 30.9%

Check-Outs (thous.) 719,861 1,123,907 56.1% 1,972,850 3,184,937 61.4%

Units 1,743,140 2,654,189 52.3% 4,669,980 7,461,892 59.8%

Average Sales Ticket (R$) 82.02 81.70 -0.4% 85.09 84.70 -0.5%

16

5.22.0

1.5

6

8

10

Stores

IT

Other

By Activity

10.3

8.0

Capex (R$ million)

0.3

1.6

3.3

4.4

0

2

4

3Q07 3Q08

Industry

Investments to remodel and open owned storesand update industrial technology

17

Short Term46%

Long Term54%

Indebtedness Evolution Short Term X Long Term

Indebtedness

201.3184.6

4.6

* Last 12 months EBITDA

54%

Net Debt/EBITDA*

Net Debt (R$ million)

Total Debt= R$ 132.1 million

Adequated cash to supportgrowth plan

18

-42.2-33.4

-5.3

4.63.5

-1.0 -0.7 -0.1

2005 2006 3T07 2007 3T08

AGENDA:

• Highlights•Operating Performance

•Stock Market•Business Strategy and Outlook•Business Strategy and Outlook

Indicators - HGTX3 3Q07 3Q08 Var. Number of Trades 11,259 1,699 -84.9%Participation in Trading Sessions (%) 100.0% 95.4% 4.6p.p.

Quantity Traded (thous.) 23,070 10,872 -52.9%

Average Daily Volume Traded (R$ thous.) 3,691 1,485 -59.8%

Total Volume Traded (R$ thous.) 232,520 95,096 -59.1%

Share Price - (R$1) 10.39 7.69 -26.0%

Total Shares Outstanding (thous.) 53,927 53,927 0.0%

Market Cap (R$ thous.1) 560,302 414,699 -26.0%

Stock Market

560,302 414,699

(1) End of period

76.2

72.6

30/9/200830/6/2008 31/7/2008 31/8/2008 1/10/2008

Ibovespa HGTX3

09/30/200808/31/200807/31/200806/30/2008

Cia. Hering Vs. BovespaBase 100 = 06/30/2008

20

AGENDA:

• Highlights•Operating Performance•Stock Market

•Business Strategy and Outlook•Business Strategy and Outlook

Actions to guarantee the growth strategy

Expansion of Hering Store chain – goal upgraded to 229 stores

The implementation of the new architectural project for the PUC Stores

Campaigns to promote the Hering Store card

Strategy & Outlook

Campaigns to promote the Hering Store card

Marketing campaign “eu uso Hering desde sempre”

22

InvestorInvestor RelationsRelations

Fabio Hering Fabio Hering –– Vice Vice PresidentPresident andand IR IR DirectorDirectorVilmar da Costa Vilmar da Costa –– CFOCFO

Karina Koerich Karina Koerich –– IR ManagerIR Manager

Tel. +55 (47) 3321Tel. +55 (47) 3321--3469 3469 EE--mailmail: ri@heringnet.com.br: ri@heringnet.com.br

WebsiteWebsite: www.ciahering.com.br/ir: www.ciahering.com.br/ir

Investor Relations Consulting Firm

FIRB – Financial Investor Relations Brasil

Tel: +55 (11) 3897-6857

E-mail: ligia.montagnani@firb.com