Notice to the Market - Disposal of Relevant Stake

NOTICE TO THE MARKET

São Paulo, December 15, 2015 - Even Construtora e Incorporadora S.A. - EVEN (BM&FBOVESPA: EVEN3), ), pursuant to Article 12 of Instruction 358 of January 3, 2002, issued by the Brazilian Securities and Exchange Commission ("CVM"), as amended, hereby informs its shareholders and the market in general that it has received a communication from ALLIANCE BERNSTEIN L.P. and its controller AXA S.A., informing the Company that their managed investment funds and portfolios now held less than five percent (5%) of the Company‘s total and voting capital stock.

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Cordially,

Dany Muszkat
C0-CEO

Vinicíus Mastrorosa
Strategy and IR Director

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
www.even.com.br/ir