EVEN announces its 1Q11 Results

Even maintains high sales/supply ratio of 33% and reaches ROE LTM of 22.4% in 1Q11

São Paulo, May 9, 2011 - Even Construtora e Incorporadora S.A. - EVEN (BM&FBovespa: EVEN3), a company with operations in São Paulo, Minas Gerais, Rio de Janeiro and Rio Grande do Sul and a focus on residential developments with units priced up to R$500,000, announces its results of the first quarter of 2011 (1Q11). Except where stated otherwise, the consolidated financial and operating information herein is presented in Brazilian real (R$).

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