Notice to the Market - Creation of New Executive Positions

NOTICE TO THE MARKET

São Paulo, May 20, 2015 - Even Construtora e Incorporadora S.A. - EVEN (BM&FBOVESPA: EVEN3), with operations in São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais and focus on residential developments with unit value above R$250,000, hereby informs its shareholders and the market in general that its Management, in conjunction with the Statutory Succession Committee, installed by a Board of Directors‘ Meeting held on May 27, 2014, intends to submit shortly for analysis by the Company‘s shareholders an alteration in its corporate governance structure, through the creation of new executive positions.

These alterations arose from discussions between Carlos Eduardo Terepins, the Board of Directors and the Succession Committee, as a result of which Carlos Eduardo Terepins intends to remain as the Company‘s CEO, with the simultaneous creation of two new vice presidencies encompassing the Company‘s main areas. The formalization of Carlos Eduardo Terepins‘ intention will occur within the term granted by the Bovespa, as detailed in this notice.

The proposal includes the replacement of:
(i) the Chief Development Officer by the Executive Vice President of Operations, who will be responsible for, in addition to the duties of the Development area, as defined in the Bylaws, the duties related to the Client and Condominium and Asset Management areas, as well as the functions of the group‘s real estate companies; and
(ii) the Chief Financial Officer by the Executive Vice President of Finance, who will be responsible for, in addition to the duties of the Finance area, as defined in the Bylaws, the duties related to the Human Resources, Legal, Compliance, Information Technology and Communication areas, as well as the creation of a Financial and Corporate Officer encompassing the duties of the controllership, accounting, tax, treasury, portfolio and transfer management, human resources, legal and information technology areas and subordinate to the Executive Vice President of Finance ("Restructuring of the Board of Executive Officers").
As a result of the Restructuring of the Board of Executive Officers, the Company‘s current Chief Financial Officer, Dany Muszkat, will assume the duties of the Executive Vice President of Finance, maintaining the position of Investor Relations Officer, and João Eduardo de Azevedo Silva, the current Chief Development Officer, will assume the duties of Executive Vice President of Operations. In regard to the position of Financial and Corporate Officer, Management proposes the election of Daniella Sasson de Figueira, currently the Company‘s Controllership and Financial Officer, as the statutory Financial and Corporate Officer.

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Cordially,

Dany Muszkat
CFO and IRO

Ivan Bonfanti
IR Manager

Fernanda Brienza
IR Analyst

IR Contact:
Phone: +55 11 3377-3777
Fax: +55 11 3377-3780
E-mail:ri@even.com.br