1. 4Q07 Results
Conference Call
March 14, 2008
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2. Disclaimer
This presentation may include forward-looking statements of future events or
results according to the regulations of the Brazilian and international securities
and exchange commissions. These statements are based on certain assumptions
and analyses by the Company that reflect its experience, the economic
environment, future market conditions and expected events by the company, many
of which are beyond the control of the Company. Important factors that may lead
to significant differences between the actual results and the statements of
expectations about future events or results include the company‟s business
strategy, Brazilian and international economic conditions, technology, financial
strategy, financial market conditions, uncertainty regarding the results of its
future operations, plans, objectives, expectations and intentions, among others.
Considering these factors, the actual results of the company may be significantly
different from those shown or implicit in the statement of expectations about
future events or results.
The information and opinions contained in this presentation should not be
understood as a recommendation to potential investors and no investment
decision is to be based on the veracity, current events or completeness of this
information or these opinions. No advisors to the company or parties related to
them or their representatives should have any responsibility for any losses that
may result from the use or contents of this presentation.
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3. Market for CardSystem/MarketSystem
Cards Evolution
At the end of December - Million
436
386
93
338
79
277
68
142
53 120
99
86
187 201
171
138
2004 2005 2006
2007
Debt Private Label Credit
Market Growth ABECS x CSU
50,7%
37,2%
19,8%
20,1% 19,2%
18,1%
2005 2006 2007 *
ABECS CSU
3

4. CardSystem/MarketSystem – Operational data
CSU – Registered Cards in Base
at the end of December (million) 16,6
12,1
10,1
6,8 6,8 CSU Market
CAGR 2004 - 07 35.3% 19.1%
2003 2004 2005 2006 2007
Source: CSU
 Consequent to the increase in the number of cards, CSU closed the year with
16.6 million registered cards.
 In the past12 months, the market grew 18.1% while CSU grew 37.2%.
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5. CardSystem/MarketSystem – Operational data
CSU CardSystem – Entry of new cards CSU MarketSystem –Accounts managed
(thousands) (million)
1.860 2,00
1,90
1.417
1.306 1.248 1,84
1.033 1,77
1,70
4Q06 1Q07 2Q07 3Q07 4Q07 4Q06 1Q07 2Q07 3Q07 4Q07
Source: CSU Source: CSU
 We entered into a strategic agreement with Riachuelo;
 We implemented the HSBC Cartão Combustível in December 2007, with
strong market penetration;
 Implementation timing record of Carrefour‟s Visa Card in 45 days;
 High portfolio growth;
 Implementation of Porto Seguro‟s card in November 2007;
 Implementation of OMNI‟s card in December 2007; 5
 High potential contracts at MarketSystem, Sicred and Porto Seguro.

6. TeleSystem/Credit&Risk
TeleSystem and Credit&Risk
 Financial turnaround achieved in the period due to the substantial
reduction in operational costs and gains in productivity when
compared to 4Q06;
 Cancellation of unprofitable contracts;
 The units maintain the strategy of portfolio diversification, with focus
on smaller operations with greater stability;
 reduction in the number of workstations in operation in December
2007;
CSU Workstations in operation- thousand
3,872
3,322
3Q07 4Q07
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7. Financial Performance
Gross Profit CSU (R$ million)
92.8 90.9
87.4
 Revenue growth of 5.8% between 86.2
4Q06 and 4Q07. 81.4
78.4
3Q06* 4Q06* 1Q07 2Q07 3Q07 4Q07
CSU EBTIDA (R$ million)
11.9
12.9
11.3
 Significant EBTIDA growth of
121.5% compared to 4Q06
5.6
5.1 5.4
3Q06* 4Q06* 1Q07 2Q07 3Q07 4Q07
 Due to the Company‟s effort to EBTIDA Margin (R$ million)
reduce costs and expenses and the
issue of new cards in 2007, we 13.9% 13.09%
more than doubled the EBITDA 13.11%
margin, from 6.3% in the 4Q06 to
13.1% in the 4Q07.
6.9% 6.4%
6.3%
3Q06* 4Q06* 1Q07 2Q07 3Q07 4Q07 7

8. Financial Performance
53.0 Gross Revenue of Units (R$ million)
49.0 48.9
45.7
Card/Market
Tele/Credit 43.7
43.3
42.0 42.5
39.8 35.8 38.4
35.1
30,7%
3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 *
EBTIDA of Units (R$ million)
13.7 13.6
11.6 10.4
9.3
Card/Market
8.7
Tele/Credit
1.3
3Q07
3Q06 4Q06 1Q07 2Q07 4Q07
(1.8)
(2.3)
(3.3)
(4.2)
(4.8)
 Positive change in the Company's revenue portfolio with
CardSystem/MarketSystem responsible for over 50% of revenues in 4Q07.
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9. CSU (Consolidated)
Gross Revenue (R$ „000) Cost of Services Rendered (R$ „000)
5.8 % 1.3 %
86,179
66,427 67,298
81,442
4Q06 4Q07
4Q06 4Q07
Gross Profit (R$ „000) and Gross Margin (%)
44.6 %
 Cost increase was lower 12,808
than Gross Revenue
growth, compared to 8,858
4Q06.
11.8% 16%
18,1%
4Q06 4Q07 9

10. CSU (Consolidated)
General and Administrative EBITDA (R$ million) and EBITDA Net Results (R$ „000)
Margin (%)
Expenses (R$ „000) 389
-9.5 %
16,180 121.5 %
14,648 11,315
14%
5,180
14%
18,1%
7% 14%
18,1% (7,068)
4Q06 4Q07 4Q06 4Q07 4Q06 4Q07
 Reduction in general and administrative expenses in the 4Q07 compared to 4Q06.
 Higher revenue growth versus costs and expenses compared to the 4Q06 doubled EBITDA
margin in the 4Q07;
 Net Result: “Turnaround” in net profitability and significant improvement compared to
4Q06;
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11. CardSystem/MarketSystem
Gross Revenue (R$ million) Gross Profit (R$ million) and EBITDA (R$ million) and EBITDA
Margin (%)
Gross Margin (%)
22.2% 34.3 % 46.8%
43.7 14.5 13.6
9.3
10.8
35.8
36% 28% 33%
33% 36%
4Q06 4Q07 4Q06 4Q07 4Q06 4Q07
 Increase of 3 p.p. in Gross Profit of CardSystem/MarketSystem compared to the 4Q06;
 EBITDA increase of 5 p.p. versus the 4Q06;
 Improvement in operational efficiency.
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12. TeleSystem and Credit&Risk
Gross Revenue (R$ million) Gross Profit (R$ million) and EBITDA (R$ million) and EBITDA
Gross Margin (%) Margin (%)
- 7.0%
n.a
45.7 n.a
42.5
3,8%
4Q06 4Q07 -5.8%
-4.4%
-9.8%
-4.6 % (2.3)
(1.7) (4.2)
(1.9)
4Q06 4Q07 4Q06 4Q07
 Gross Revenue declined by 7.0% compared to the 4Q06, due to the 20.0% reduction in
Telemarketing revenue and 42.0% growth in credit and collections.
 Despite revenue decline compared to the 4Q06, we had profitability gains both in Gross
Profit (R$ 0.2 million) and EBITDA (R$1.9 million) and 4.0 p.p.
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13. Debt and Investments
Debt R$ million
4Q07 4Q06 3Q07
Short Term 57.9 44.3 48.9
Short Term Debt 34.3 24.2 24.0
Leasing Short Term 23.6 20.1 24.9
Long Term 53.5 52.4 59.1
Long Term Debt 41.8 21.4 42.2
Leasing Long Term 11.7 31.0 16.9
Gross Debt 111.5 96.7 108.1
(-) Cash 2.4 37.2 3.5
Net Cash (Debt) 109.1 59.5 104.6
CAPEX (in R$MM)
14.5
CAPEX 4Q06 3.8
4Q07 3Q07 4Q07
10.3
Sistemas (SW e HW) 4,7 5,5 10,3 5,5
 Conclusion of investments in Projeto Caixa
7.4 5,3 1,5 3,8
7.4 1,5
development of Caixa‟s operating 5.3 Outros
1.5
0,3 0,4 0,4
1.5
0,4
platform; 10.3
5.5 5.5
 Investments in cards. 4.7
4Q06 4Q07 3Q07 4Q07
Systems (SW and HW) Caixa Project Others
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14. Final Remarks
CSU – Registered Cards in Base
CSU - CSU – Registered Cards in CardSystem
Entrada de Cartões Novos Base
at the end of December (million) 16.6 at the end of December (million)
(Milhares)
1,860
12.1
9.8
1,417
1,248
6.8 6.8
1,033
447
2003 2004 2005 2006 2007 1Q07 2Q07 3Q07 4Q07 Jan. 08
 Record emission of 446,725 new cards in January, raising CSU's total card base to 17.1
million;
 Card base: 37% growth in comparison with 18% industry expansion;
 Gross Revenue Card/Market: 21.9% increase.
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