ALL Reports 3Q04 and 9M04 Results.

CURITIBA, Brazil -- America Latina Logistica - ALL (Bovespa:ALLL4), Latin America's largest independent logistics company, announced today its results for the third quarter of 2004 (3Q04) and first nine months of 2004 (9M04).

E[acute accent]HIGHLIGHTS:

E[acute accent]--In spite of the Sao Joao Bridge accident that interrupted cargo flows to the Port of Paranagua resulting in the most important rail route of the Company being without service for almost 30 days in 3Q04, ALL increased consolidated 3Q04 EBITDA by 1.3% to R$89.7 million compared to R$88.5 million in 3Q03 and consolidated 9M04 EBITDA by 31.0% to R$270.2 million compared to R$206.2 million in the same period of the previous year. Consolidated net income for 9M04 reached R$99.3 million compared to R$5.1 million in the same period 2003. In the 3Q04 net income increased by 102.7% to R$47.6 million from R$23.5 million in 3Q03.

E[acute accent]--During 3Q04 ALL continued to improve its EBITDA margin reaching 37.7% consolidated compared to 35.5% for 3Q03. This gain was driven by improved margins in industrial products (less affected by the interrupted route), in highway services and in ALL Argentina. The agricultural commodities business registered smaller margins reflecting the interruption caused by the Sao Joao Bridge accident and also a weaker than expected agricultural commodities market in late 3Q04.

E[acute accent]--ALL and Bunge signed a long term transportation agreement, the largest one of ALL's history, securing close to 4,000 rail cars and more than 60 million tons over the period of 2005 to 2010 alone. Bunge, one of the world's largest commodity trader and ALL's largest client, confirms its confidence in the reputation for reliability and superior service that ALL has built over the years. The agreement represents an estimated annual growth in agricultural commodities volumes of 8.0% for the next six years and approximately 65% of ALL new rail car needs for the period.

E[acute accent]--The Sao Joao Bridge accident was the worst ever experienced by ALL and significantly impacted July and August volumes. The firm commitment and dedication of our team allowed us to rebuild the bridge in only 21 days. After reopening the bridge, it took more than one week to normalize traffic, resulting in close to 30 days of total or partial interruption and an estimate loss of 712 million RTK in volume, R$28 million in revenue and R$19 million in EBITDA. Partially offsetting the higher than expected EBITDA impact of the Sao Joao River Bridge accident, we expect to benefit from lower financial and tax expenses.

Conference Calls:

English:            Tuesday, November 16, 2004
                    10:00 a.m. US EST
                    Tel.: [phone]
                    ID: ALL or 5178864

Portuguese:         Tuesday, November 16, 2004
                    8:00 a.m. US EST
                    Tel.: [phone]
                    ID: ALL

E[acute accent]IR Area: Rodrigo Campos ([phone] / [e-mail])