Notice to the Market - Disposal of Relevant Stake

NOTICE TO THE MARKET

São Paulo, January 20, 2016 - 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 SPX EQUITIES GESTÃO DE RECURSOS LTDA., registered with the CNPJ/MF under the number 14.595.392/0001-93 and from SPX GESTÃO DE RECURSOS LTDA., registered with the CNPJ/MF under the number 12.330.774/0001-60, informing the Company that the group of investment funds and portfolios managed by them, due to operations in the rental market, now hold in custody less than five percent (5%) of the Company‘s total and voting capital stock. Considering the shares object of rent, SPX EQUITIES GESTÃO DE RECURSOS LTDA. and SPX GESTÃO DE RECURSOS LTDA., would hold 6.07% of the Company‘s total and voting capital stock.

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Cordially,

Dany Muszkat
Co-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