0 DASA 2006 and 4Q06 Earnings

1 Disclaimer This document contains “forward-looking statements”. Forward-looking statements may be identified by words such as “expects”. “intends”. “plans”. “believes”. “seeks”. “estimates” or words with similar meaning. The statements contained in this presentation about the Company’s forward-looking statements. including business prospects. operating and financial projections and potential growth are merely forecasts based on management’s expectations in relation to its future performance. Such estimates are highly dependent on market behavior. on Brazil’s economic performance and on industry and international market conditions. As such. they are subject to change.

2 FY 2006 and 4 th Quarter 2006 Financial Highlights Gross Revenues Net Revenues Gross Profit Gross Margin EBITDA R$ million EBITDA Margin Adjusted EBITDA Adjusted EBITDA Margin Net Earnings / Losses Net Earnings / Losses Margin Shareholder’s Equity Net Cash/Debt Change 4Q05 4Q % (7.6) -5.7% % % +43.6% +44.9% % N.A % % % % % % (53.8) (148.0) % Change % % % % +36.8% +15.4% % +62.6% % % % % % % (53.8) (148.0) % %

3 Gross Revenues  Revenues increased 28.5% in the 4Q06, favored by: growth in imaging services. performance of the companies acquired during 2005 and strong growth in reference lab operations. In a yearly basis. the growth was 26.5% and overcame the last 4 years average CAGR;  The 5.9% decrease in the average revenue per requisition in the 4Q06 is a result of the mix of companies acquired during 2006 and also lower prices charged by Alvaro (only clinical). The decrease observed in the annual figures comes from mix improvements from imaging services that sustained average revenue per requisition practically flat (0.45% decrease);  Although 2006 same-unit-sales growth was 5.6%. After the negative effects experienced in 2Q06, when holidays and the World Cup affected the flow of patients in patient service centers the recovery of patient flows during the 2H06 pulled the rate back to its historic average (6.8% in 4Q05). Gross Revenues Evolution (in R$ million)Growth Drivers (excluding Reference) * Alvaro Reference Lab Revenues * Q054Q % 26.5% CAGR = 21.2% Q054Q06 Average Revenue per RequisitionRequisitions

4 Gross Revenues per Service Line  Clinical Analysis revenues went up by 17.2%, mainly driven by the maturity of acquisitions settled in 2005 and new labs acquired during 2006;  Revenues from imaging services grew 18.0% quarter over quarter reaching 37.8% of Outpatient & Inpatient gross revenues. Image Memorial (Oct.’ 05) and Vita (Oct.’06) acquisitions as well as 7 new mega units opened in 2005 and 2006 helped to boost imaging revenues;  DASA’s national presence combined with Alvaro’s price competitiveness. helped lab to lab operations to increase the number of labs served and to offer more tests per lab. leveraging revenues by 43.8% in the 4Q06 (49.0% in 2006). Revenues - Reference (Lab to Lab) Market Revenues per Service Line (as a % of Gross Revenues) Q054Q % 17.2% 16.3* 28.5% 62.2% 37.8% 37.7% 62.3% * Alvaro Reference Lab Revenues Q054Q % 43.8%

5 Gross Profit  Gross margin improved 220 bps. to 29.7% in the 4Q06 from 27.5% in the 4Q05. This reflects not only scale gains in the central labs and PSCs. but also synergies from the integration of acquisitions done during In 2006 gross margin went up to 33.9%. 250 bps over 2005;  Reference Lab operations favored services and utilities dilution by 3.9 p.p. as a result of its fast growing pace, but affected material costs because of its differentiated cost structure;  Personnel costs went up on a yearly basis due to productivity gains yet to be captured from acquired companies. Cash-GOGS Drivers (4Q05 vs. 4Q06) Cost of Services Rendered 4Q05 Cash COGs PersonnelMaterialsServices and Utilities General Expenses 4Q06 Cash COGs 64.8% 61.0%

6 Operating Expenses  Operating expenses grew by 5.2% in the 4Q06 reaching R$ 45.6 million, mainly driven by SG&A higher expenses. This increase was offset by lower goodwill and financial expenses;  Parent Company G&A remained stable after the improvements on the management team, quality and IT were implemented. Consolidated G&A increases came mainly from the new acquired subsidiaries;  In 2006 the 31.4% growth reflects capital market related expenses, accrued as non recurring expenses. Operating Expenses (R$ million) General and Administrative Expenses (R$ million)

7 EBITDA and Adjusted EBITDA  The strong 44.9% EBITDA growth in 4Q06 was leveraged by higher revenues. dilution of costs and reduction of operating expenses. Adjusted EBITDA grew 27.8% to R$ 39.2 million in 4Q06. with 22.4% margin;  On a yearly basis. Adjusted Ebitda reached R$ million and outperformed the 2002 – year CAGR. by growing 23.5%. EBITDA and Adjusted EBITDA (R$ million) T054T EBITDA Non Recurring Expenses Adjusted EBITDA CAGR = 19.1% 23.5% 27.7% T054T06 EBITDA Margin 21.8%23.1%18.9%22.5%20.5%18.4%20.0% Adjusted EBITDA Margin 27.1%27.3%27.5%25.7%25.0%23.3%22.4% T054T EBITDA CAGR = 19.1% 23.5% 27.7% T054T %23.1%18.9%22.5%20.5%18.4%20.0% 27.1%27.3%27.5%25.7%25.0%23.3%22.4% T054T %23.1%18.9%22.5%20.5%18.4%20.0% 27.1%27.3%27.5%25.7%25.0%23.3%22.4%

8  The Company cash generation was mainly employed on organic growth during 2006;  The capital markets operations helped to finance DASA’s acquisition plans and net debt reduction. by 63.7% y-o-y;  DASA still have R$ million in cash and cash equivalents to finance 2007 expansion plans. Indebtedness Net Debt (Cash) Evolution (R$ million) (148.0) 2005 Net Debt Cash Flow Generated (129.9) Capex Follow on (54.7) Acquisitions (53.8) 2006 Net Debt Debeture Program

9 Growth Strategy Update Investments 1 (R$ million) Note: 1Exclude acquisitions  The R$ million Capex invested in 2006 exceeded the R$ 85.0 million proposed initially. mainly due to additional needs from subsidiaries and also to accelerate the expansion plan for imaging services and opening of new PSCs planned for 2007;  The R$ 95.0 million proposed for 2007 will be mainly driven to finance 20 new PSC (8 Mega Units) and purchase of equipments to expand imaging services T062T063T064T E Parent Co.Subsidiaries Consolidated

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