Even reports 1Q11 Operational Preview- Sales-over-Supply Ratio of 32%

Even launches R$278 million and sells R$369 million in 1Q11 of which R$244 million of inventories

Sales-over-supply ratio (VSO) of 32% in the quarter

In 1Q11, EVEN acquires land with potential sales value (PSV) of R$877 million

São Paulo, April 13, 2011 – Even Construtora e Incorporadora S.A. – EVEN (BM&FBovespa: EVEN3), with operations in the states of 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, hereby announces the unaudited preliminary data for its launches, sales and lot acquisitions in the first quarter of 2011.

Launches¹
In 1Q11, 6 projects with combined PSV of R$278 million were launched, distributed across all of the company‘s markets. Of the units launched in the quarter, 45% were sold in the same period.

Sales¹
Contracted sales came to R$369 million in the quarter, of which R$125 million (34%) was from projects launched in the period and the remainder, R$244 million (66%), was from units in inventory.
The sales-over-supply ratio (VSO) was 32% in the quarter.

Landbank¹
In 1Q11, 14 new lots were acquired with combined PSV of R$877 million (Even‘s interest) in the four markets where we operate, of which 66% under the Even brand and 34% under the Open brand, in line with our strategy to diversify projects and to take advantage of the best market opportunities.

¹ unaudited managerial data; changes may occur

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