L. is a member of the National Association of
Securities Dealers, CRD number 1252.: (+1 973) 935 -2100
Replay: +55 (11) 2101-1490 Replay: (+1 973) 341-3080
Code: Localiza Code: 6281987 or Localiza

About Localiza Rent A Car S.
With 32 years of existence and 307 branches, Localiza is currently the
largest car rental in Latin America in number of agencies and the pioneer in
fleet rental and management business in Brazil.

q distinct

William Blair + Company Initiates Coverage of Heidrick + Struggles International Inc. With Outperform Rating

Aggressive cost cutting and restructuring measures also have aided
profitability.L. As an
independent , employee-owned firm, our philosophy is to serve our clients'
interests first and foremost.C.williamblair .

5% over the R$28.

translation outside

70), a leading global provider of executive search
services, with about 300 search consultants in 57 major cities throughout
North America, Europe, Latin America, and Asia -Pacific, with an Outperform
rating and company profile of Core Growth.9% lower than in 1Q05 (R$75 .

dist really

A.

outside dialogus

5%

BELO HORIZONTE, Brazil, Localiza Rent A
Car S.

writings ordinatio

Analyst Matt Litfin estimated that the company, whose consultants -- using
extensive industry contacts and knowledge -- help clients find and hire high-
level executives, would earn $1.10 per share in fiscal 2004 and $1. was a manager or co-manager of a public
offering of equity securities within the prior 12 months.0 million in 1Q05 .

william english

L.
William Blair + Company, L.
Localiza operates in the car rental and fleet rental business and in the
fleet management and franchising of those businesses.

universal works

For important disclosures and information regarding the firm's rating
system, valuation methods and potential conflicts of interest, please visit:
http://www.

writings provide

2 million);
-- Car rental and fleet rental and management reported a 26% growth in
revenue when compared to the previous year;
-- In the car rental segment, volume of business increased 43% when
compared to 2Q04;
-- In the fleet rental and management business, volume of business
increased 12% when compared to 2Q04;

Full earnings release available to download on http://www.

latin ockham

( http://www. Net revenues grew by 45.

soul outside

outside dist

whether ongoing

"
"Given the improving global economy, a leaner cost structure, and a new
management team focused on profitability, we believe that Heidrick + Struggles
is positioned for strong earnings growth over the next several years," he
added.asp?uid=800
Additional information is available upon request.7% over the R$26.50;
-- EBITDA (R$59.5% higher than in 2Q04 (R$44.2million)
and 20.

dialogus q

localiza.

Writings of William of Ockham, in English translation.

complete english

has received compensation for investment
banking services from the company within the past 12 months, or expects to
receive or intends to seek compensation for investment banking services in the
next 3 months.

6 q

(Nasdaq: HSII) ($32.C.williamblair.C.4% and EBITDA grew by 34.

dialogus soul

C.

Localiza Reports Net Income of R$ 31.4 million and EPS of R$0.50 in 2Q05

5 million) was 34.

provide q

Localiza is part of BOVESPA's
Novo Mercado and is listed under the ticker "RENT3".

really distinct

William Blair + Company, L.L.L. (Bovespa: RENT3), the largest car rental network in Latin America
with 32 years of existence, reports today its results for the second quarter
of 2005 (2Q05).9 million in 2Q04 and
20. Earnings per share were R$0.A.

ordinatio english

really soul

The following financial and operational information, except
when otherwise indicated, is presented in US GAAP and in Brazilian reais (R$);
the comparisons refer to the second quarter of 2004 (2Q04).

dialogus works

52 per
share in fiscal 2005.C.com/pages/eqresearch_home.

universal writings

"With the recovery of the economy and labor market, especially in North
America, the company's financial results have improved ," Litfin said.
"Earnings per share have exceeded expectations in the first three quarters of
2004 , and we believe that continued upside over the next year is possible.
William Blair + Company , L.

William Blair + Company, L.

latin ockham

CHICAGO, William Blair + Company today announced
that it initiated research coverage of Heidrick + Struggles International,
Inc.com ) is a
Chicago-based investment firm, founded in 1935, offering investment banking,
asset management, equity research , institutional and private brokerage, and
private capital to individual, institutional, and issuing clients.

2Q05 HIGHLIGHTS

-- Net income in 2Q05 grew by 8.com/ri

2Q05 RESULTS CONFERENCE CALL

Date: Wednesday, August 10, 2005

Portuguese (US GAAP) English (US GAAP)
10h00 (Brasilia Time) 12h00 (Brasilia time )
09h00 (US EDT) 11h00 (US EDT)
Phone: +55 (11) 2101-1490 Tel.

soul philosophy

William Blair + Company, L. is a market maker in the security of this
company and may have a long or short position.

whether distinct

---

- - kjjkjk

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