EVEN reports Clarification regarding the auction held at Bovespa

EVEN REPORTS CLARIFICATION REGARDING THE AUCTION HELD AT BOVESPA

Clarification regarding the auction held at Bovespa

São Paulo, May 24, 2010 – Even Construtora e Incorporadora S.A., a publicly held company inscribed in the roll of corporate taxpayers (CNPJ/MF) under number 43.470.988/0001-65 (“Company”), announces to shareholders and the general market certain details of the auction of the company‘s stock (EVEN3) to be held on May 25, 2010 at 4:45 p.m. on the BM&FBovespa S.A. – Securities, Commodities and Futures Exchange, in accordance with the notice published today by the BM&FBovespa (“Auction”).

In accordance with Article 51 of our bylaws, all shareholders holding interests equal to or greater than 5% that wish to acquire new shares must communicate interest to the company at least three days prior to the auction to be held on the BM&FBovespa.

In view of the request for an Auction by one of our shareholders, as indicated in Article 51 of our bylaws and in the notice to the market about the Auction published by the BM&FBovespa, it is important to note that the Auction is based on a bookbuilding process, for which the pre-established price is merely a minimum level, since the effective price of the operation will be determined only at the Auction (based on supply and demand).

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