TeleSystem and Credit&Risk is a leading credit card and call center outsourcing company in Brazil that has experienced strong growth, with revenues increasing by 28% annually between 2001-2006 and net profits of R$16.1 million in 2006. The company has a leading market share in credit card processing and call center services, and sees opportunities for continued growth through expanding its existing businesses, pursuing new clients and markets, and cross-selling opportunities across its business units.

1. Meeting with Investors
April, 2007
1

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.
2

3. Company Overview
Company Profile
3

4. Leading Technology Services Provider in Brazil
The largest independent administrator of 12.1 16.2* million cards
credit cards 56% of market share
One of the largest independent call center
3,582 Workstations
services provider in Brazil
Leading collection services provider 701 Collection Workstation
Leading loyalty programs management 3.1 million managed accounts
Gross Revenues in 2005** Gross Revenues in 2006
R$ 336 mm R$ 354 mm
TeleSystem TeleSystem
49% 45%
CardSystem
Credit&Risk 36%
CardSystem Credit&Risk
35% 15%
11%
MarketSystem MarketSystem
1% 8%
* Data of Dec/06. Includes the cards from Caixa Econômica Federal Contract
** MarketSystem - 2005 shows figures for December only.
4

5. CSU is the Backbone of the Credit Card
Business of its Clients
CARDHOLDER
Card Issuance
Billing
Customer Support/
ACQUIRER – NETWORK Call Center ISSUERS
Credit analysis and
Authorization processing
Collection
Processing
Operational Control
Other
COMMERCIAL CREDIT CARD BRAND
ESTABLISHMENT
Purchase Data exchange
Withdrawal Fraud Prevention
CSU Provides its Clients a Fully Outsourced Solution to Card Administration
5

6. Our Excellence in Credit Card Administration
Fostered Other Leading Business Units
Full Service
Credit
System Customer Electronic
Card and Fraud Interchange Transaction Operational Loyalty
development/ Support
Issuance Collection Prevention Control Programs
Implementation Process
analysis
New Business
Opportunities
Diversification brought us:
New business opportunities/ cross-selling
Lower costs from scale gains
High switching cost
6

7. Company Overview
Our Businesses
7

8. Attractive Industry Fundamentals to
Credit Cards…
Brazil is the 3rd largest card issuer
Brazil is the 3rd largest card issuer Most Used Credit Instruments in Brazil
Most Used Credit Instruments in Brazil
C.C Interest Free
Purchases 59%
UK 140
Brazil 192 Payment Book 37%
China 206
C.C. Interest Bearing
USA 796 Purchases 21%
C.C. Minimum Payment
Invoice 16%
Million cards, in 2005
C.C. Payment in Equal
Number of Credit Cards -- Brazil
Number of Credit Cards Brazil Installments 15%
Million
78.0
Overdraft Facility 15%
68.0
52.5 Personal Loans 8%
47.5 %
41.5 19
35.3 GR
CA
28.0 Real State Loans 3%
23.6
Payroll Deductible 3%
Credit
1999 2000 2001 2002 2003 2004 2005 2006
Source: Abecs
8

9. … And the Call Center Industry Showing
Consistent Growth Potential
Historical Growth – Brazilian Call
Historical Growth – Brazilian Call Potential Growth – Brazilian Call
Potential Growth – Brazilian Call
Center Services Revenue*
Center Services Revenue* Center Services Revenue**
Center Services Revenue**
Annual Growth % Annual Growth %
%
13
GR
CA
%
30
GR
CA
12%
13%
15%
21%
60%
20%
25%
2002 2003 2004 2005 2006 2007 2008 2009 2010
+15%
* Source: ABRAREC ** Source: IDC
9

10. Leading Competitive Position Among
Independent Players
Market Share:
Market Share: Leading Independent Call Center Operator
Leading Independent Call Center Operator
Credit Card Processing Segment *
Credit Card Processing Segment *
In Outsourcing 5 largest independent players
TMS
12%
Fidelity
17% Teleperformance
Softway
36%
14%
Telefutura
17%
Orbitall
27%
TeleSystem and
56% Credit&Risk
21%
* Notes:
- CSU’s Market Share considers credit cards from Caixa
- Orbitall: 100% owned by Itaú 2006 data
- Fidelity (51%): 49% owned by ABN Real and Bradesco Sources: Cardnews and IDC
10

11. CSU – Strong and Diversified Clients Portfolio
11

12. Caixa Econômica Federal Project
Implementation expected for second quarter of 2007;
The largest contract in industry
(~ 4.1 million of active credit cards);
Strong growth potential;
Contract establishes a two-year initial service rendering period
12

13. Financial Information
Operational and Financial
Information
13

14. Operational Performance by Business Unit
TeleSystem and Credit&Risk – Total
TeleSystem and Credit&Risk – Total
CardSystem -- Cards
CardSystem Cards
Workstations
Workstations
In million End of the period
23.1%
4,8% 4,423 -3.2%
4,8%
4,283
12.1
9.8 3.4
3.0
8.7
6.8
2005 2006 2005 2006
Credit Card Private Label and other
MarketSystem – Loyalty Accounts
MarketSystem – Loyalty Accounts
Average of the period – in million
25.4%
4,8% 3.1
2.4
2005 (Pro Forma) 2006
14

15. Consolidated Financial Performance
Net Revenues
Net Revenues Gross Profit
Gross Profit
R$ MM CAGR 28% R$ MM CAGR 6%
313.6 329.0 63.7
55.3
229.4 42.3
177.9 37.0 40.1
134.4 30.6
96.7
2001 2002 2003 2004 2005 2006 2001 2002 2003 2004 2005 2006
EBITDA
EBITDA Net Profit (Loss)
Net Profit (Loss)
R$ MM R$ MM
CAGR 24%
16.1
12.9
60.3 10.2
6.6 6.5
46.3 50.2
34.2
22.9
17.0
-11.8
2001 2002 2003 2004 2005 2006*
2001 2002 2003 2004 2005 2006
* Adjusted by the IPO’s expenses
15

16. Business Units’ Gross Revenue Evolution
CardSystem
CardSystem TeleSystem and Credit&Risk
TeleSystem and Credit&Risk
R$MM R$MM
CAGR 12% CAGR 26%
126.5 215.1
118.0 197.6
91.2 97.6 148.4
98.7
2003 2004 2005 2006 2003 2004 2005 2006
MarketSystem
MarketSystem
R$ MM CAGR 27%
30.2
22.6 23.7
14.9
2003* 2004* 2005* 2006
* Pro-forma
16

17. Financial Performance of the Business Units
CardSystem
CardSystem TeleSystem and Credit&Risk
TeleSystem and Credit&Risk
R$ MM R$ MM
109.6115.3 201.5 184.8
43.2% 41.0% 40.4%
36.7% 7.9% 7.4%
47.4 42.3 44.9 46.6 16.0 (6.1%) 15.0 (1.5%)
(11.3) (2.8)
Net Revenue Gross Profit EBITDA* Net Revenue Gross Profit EBITDA*
MarketSystem**
MarketSystem**
R$ MM ** MarketSystem 2005 pro-forma
28.8
22.9
36.4%
31.5%
22.3%
8.4 9.1 19.7%
6.4
4.5
Net Revenue Gross Profit EBITDA*
* Adjusted by the IPO’s expenses 2005 2006
17

18. Cash and Debt Position
Cash at the end of the period
Cash at the end of the period Debt
Debt
R$ MM R$ MM
37.2 0.4x
0.2x
103.2
92.1
20.5
1.4
0.7
2003 2004 2005 2006 2005 2006
Gross Debt* Net Debt / EBITDA
* Bank debt + leasing
18

19. Capex and Dividends
Capital Expenditures
Capital Expenditures Dividend Payout*
Dividend Payout*
R$ MM R$ MM
43.6 11.8 11.4
28.9
5.6
15.6 3.2 4.0
9.8 12.5 10.9
2001 2002 2003 2004 2005 2006 2001 2002 2003 2004 2005
% Net Profit 85% 49% 116% 31% 71%
2006 Capex Breakdown
* Includes Interest on Shareholder´s Equity
Hardware e Software: R$ 15.0 MM
CAIXA Project: R$ 13.0 MM
Other: R$ 0.9 MM
19

20. Financial Information
Value Creation Agenda
20

21. Strategy and Growth Opportunities
Electronic Payment Call Center
through Mobile Offshore
Entrance in
New Markets
Organic Cross-Selling
Market Growth Opportunities
Acquiring
New Clients
& Outsourcing
21

22. Main Strategic Actions - 2007
CSU Corporate
• Complete the commercial achievements and strategies of 2005 and 2006
• Expansion of volumes – growth of the businesses already conquered
• Enlargement of profitability by cost management and scale gains
• Entrance in new business segments and new markets
CardSystem
• Implementation of Caixa Project
• Focus on Co-Branded Private Label Cards
• Leverage in business based on our competitive and strategic advantages
• Several projects under development with important prospects
TeleSystem and Credit&Risk
• New Management in charge of the Units
• Strengthening of structure, commercial processes and financial management
• Strong emphasis on commercial efforts
MarketSystem
• Focus on gaining clients of the financial, telecommunication and retail industries
22

23. High Level of Corporate Governance
100% common shares
Bovespa´s Novo Mercado (100% Tag Along)
Free float of 39% voting shares
Active Board of Directors, with diversified and complementary
experiences and presence in the business management:
Independent members: Mailson F. da Nóbrega, Rubens Barbosa and Mário
Alberto de Almeida
Solid relationship track record with minority shareholders
Private Equity funds investment in 1997
Controlling Committee headed by a minority shareholder
23

24. High Level of Corporate Governance and Human
Resources Focus
Code of Ethics / Disclosure and Stock Trading Policies
Dedicated Investor Relations Team
Development of a Stock Option program for the executives
Alignment of interests between administration and shareholders
Human Resources Emphasis
Results Oriented Management
Special Recruiting Actions: Trainee Program and New Talents Program
Management Compensation aiming at business growth
24

25. Social Responsibility
9,299 employees (Dec/06)
CSU Institute
CSU University
Incentive to social and educative programs along with
Abrinq and other Institutions
Encouragement to voluntary work
First Trainee Program launched in 2006/2007
25

26. Conclusion: Attractive Investment Opportunity
Premium Diverse Client
Market Leadership Portfolio with Excellent
Relationship Track Record
Attractive Industry Growth
Strong Growth Prospects
Fundamentals
Superior Corporate
Impressive History Growth
Governance
26

27. www.csu.com.br 27