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Metalfrio Posts Net Sales of R$156.7 million (37.5% up over 1Q07) and Adjusted EBITDA of R$10.3 million (up 106.0% over 1Q07) in 1Q08

SAO PAULO, Brazil, May 15 /PRNewswire-FirstCall/ -- Metalfrio Solutions S.A. ("Metalfrio") (FRIO3), one of the world's largest manufacturers of plug-in commercial refrigeration equipment announces its first quarter 2008 (1Q08) results. Unless otherwise stated, financial and operational information is given in accordance with Brazilian corporate legislation and in reais (R$). Comparisons are with 1Q07 or as indicated.

    HIGHLIGHTS

    --  Our net sales revenue in 1Q08 came to R$156.7 million, compared to
        R$113.9 million in 1Q07, an increase of 37.5%. The number of units
        sold in the quarter grew by 36.3% year over year, coming to 144,700
        units.

    --  In 1Q08 our adjusted EBITDA(1) was R$10.3 million (adjusted EBITDA
        margin of 6.6%), compared with R$5.0 million in 1Q07, an increase of
        106.0%.

    --  In 1Q08, our adjusted net profit(2) totaled R$4.8 million (adjusted
        net margin of 3.1%), versus R$1.7 million in the 1Q07 (adjusted net
        margin of 1.5%), adjusted for IPO-related expenses in 1Q07.

    --  Our Americas operation is performing above our expectations. In 1Q08
        Americas had net sales revenue of R$141.3 million and posted an
        adjusted EBITDA of R$13.6 million (adjusted EBITDA margin of 9.6%).

    --  We closed the transaction on March 26, 2008, to purchase 71.0% of the
        capital stock of Senocak Holding A.S. ("Senocak"), the commercial
        refrigeration holding company, which includes control in the Turkish
        company Klimasan, the group "Senocak/Klimasan."

    --  The Senocak/Klimasan operation, which are included in our balance
        sheet but not included in our income statement, recorded net revenue
        of R$43.3 million (with 53,500 units sold) in 1Q08.


    Conference Calls

    English
    Date: May 16, 2008 (Friday) Time: 10:00 a.m. (EDT Time) / 11:00 a.m.
    (Brasilia time)Connection number: +1 (973) 935-8893 Access Code: 44149971
    Replay: +1 (706) 645-9291.

    Portuguese
    Date: May 16, 2008 (Friday) Time: 09:00 a.m. (EDT Time) / 10:00 a.m.
    (Brasilia time)Connection number: +55 (11) 2188 0188 Access Code:
    Metalfrio Replay: +55 (11) 2188-0188.

    www.metalfrio.com.br/ir

    (1) 1Q08 EBITDA adjusted for R$2.8 million of tax benefits and negatively
        adjusted for R$0.9 million of foreign exchange gain on equity income.
    (2) 1Q08 net profit adjusted for R$2.8 million of tax benefits.

SOURCE Metalfrio Solutions S.A.

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Metalfrio Posts Net Sales of R$156.7 million (37.5% up over 1Q07) and Adjusted EBITDA of R$10.3 million (up 106.0% over 1Q07) in 1Q08