São Paulo, Brazil, January 14, 2011. Grupo Pão de Açúcar [NYSE: CBD; BM&FBOVESPA: PCAR5 (PNA)] hereby announces its sales for the fourth quarter of 2010 (unaudited preliminary results). The information presented is based on consolidated figures and denominated in Reais, in accordance with Brazilian Corporate Law.

Grupo Pão de Açúcar (GPA) 4Q10 consolidated

In 4Q10, GPA's gross sales, comprising all the Group's formats, including Casas Bahia (consolidated as of November 2010), increased by 50.7% over the same period last year to R$12,599.7 million, while net sales climbed by 47.9% to R$11,035.9 million. Excluding Casas Bahia's business, gross and net sales would come to R$9,625.2 million and R$8,586.1 million, respectively.

In same-store terms (i.e. stores that have been operational for at least 12 months at GPA, therefore excluding Casas Bahia business), gross sales grew by 11.5%, giving real growth of 5.5.% (when deflated by the IPCA - consumer price index⁽¹⁾). Net same-store sales recorded nominal growth of 11.3%.

GPA Food 4Q10

GPA Food posted gross sales of R$7,275.5 million and net sales of R$6,535.7 million, 7.8% and 8.1% up on 4Q09, respectively.

On a same store basis, gross and net sales moved up by 7.2% and 7.3%, respectively.

Also on a same-store basis, gross food sales grew by 8.4% in the period, led by beverages and perishables. Non-food gross sales grew by 3.2%, mainly impacted by gas station sales, which fell by 8.4% in the period. Excluding this effect, non-food sales would have increased 5.9%.

The Group's best-performing formats were Assaí and Extra Supermercado, whose gross same-store sales climbed by 15.5% and 18.5%, respectively.

Globex 4Q10

Globex's gross sales in 4Q10, including the Ponto Frio stores, Nova Pontocom (e-commerce operations of pontofrio.com, extra.com, casasbahia.com and wholesale-electro operations) and the Casas Bahia stores, consolidated as of November 2010, stood at R$5,324.1 million, 230.8% up on the same period last year. Excluding Casas Bahia business, gross sales would move up 46.0% to R$2,349.7 million.

Net sales reached R$4,500.1 million, 218.4% more than in 4Q09, and would sum R$2,050.4 million, representing growth of 45.1% if Casas Bahia business was excluded.

In same-store terms, gross and net sales increased by 27.1% and 26.1% year-on-year, respectively.

Also in same-store terms, gross bricks-and-mortar store sales recorded growth of 20.2% over 4Q09, while the gross sales of Nova Pontocom and wholesale operations increased by 41.9%, featuring e-commerce, which increased 63.0% in the period.

Grupo Pão de Açúcar 2010 consolidated

In 2010, GPA recorded gross sales of R$36,140.3 million, 37.8% up on the previous year. Excluding Casas Bahia's business, gross sales would come to R$33,165.9 million, up by 26.8%. It is worth noting that gross sales reached the year's guidance (gross sales above R$33 billion).

Net sales stood at R$32,087.6 million, 38.0% more than in 2009, or would be R$29,637.9 million excluding Casas Bahia business, up by 27.5%.

On a 'same store' basis, gross sales increased by 12.1%, equivalent to real growth of 6.4% (when deflated by the IPCA consumer price index⁽¹⁾), higher than the 4%-5% guidance range announced at the beginning of the year.

In the same period, net same-store sales recorded nominal growth of 13.2%.

GPA Food - 2010

GPA Food posted gross sales of R$26,125.2 million (above year s guidance of R$26 billion), 12.0% up on 2009.

Net sales reached R$23,479.5 million, a 13.0% increase when compared to 2009 figures. In same-store terms, gross and net sales increased by 9.5% and 10.5%, respectively.

Also in same-store terms, gross food sales grew by 9.3% in the period, led by beverages and perfumery and cleaning products. Non-food sales grew by 10.2%, led by the electronics/household appliance and textile categories, which recorded increases above the average for the non-food segment.

Assaí and Extra Supermercado operational performance were outliers, posting gross same-store sales growth of 18.0% and 23.4%, respectively.

Globex 2010

In 2010 Globex's gross sales totaled R$10,015.1 million, 112.6% more than the year before. Excluding Casas Bahia business, gross sales would come to R$7,040.7 million, beating R$7 billion guidance for the year, and would be 49.5% higher than 2009.

Net sales stood at R$8,608.1 million, 117.8% more than in 2009. Net sales would register R$6,158.4 million and growth of 55.8% if Casas Bahia business was excluded.

On a same-store basis, gross sales increased by 30.2% 21.1% for the bricks-and-mortar stores and 45.4% for Nova Pontocom, highlighting e-commerce operation which increased 62.2% in 2010.

Statements contained in this release relating to the business outlook of the Company, projections of operating/financial results and relating to the growth potential of the Company are mere forecasts and were based on the expectations of Management in relation to the Company's future. These expectations are highly dependent on changes in the market, Brazil's general economic performance, the industry and international markets, and are thus subject to change.