EVEN announces its 4Q11 Results

EVEN ANNOUNCES ITS 4Q11 RESULTS

2012: Cash Generation and Superior Gross Margins

São Paulo, March 12, 2012 – 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$500,000, announces its results of the fourth quarter of 2011 (4Q11). Except where stated otherwise, the consolidated financial and operating information herein is presented in Brazilian real (R$).

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