BR PROPERTIES S.A. Publicly Traded Company (Authorized Capital)

CNPJ n° 06.977.751/0001-49 NIRE 35.300.316.592

MINUTES OF THE GENERAL SHAREHOLDERS MEETING HELD ON 2ND CALL, ON MARCH 29TH, 2012

1. Date, Time and Place: On March 29th, 2012, at 11:00 a.m., on the headquarters of BR Properties S.A. (“Company”), located in the City of São Paulo, State of São Paulo, at Avenida das Nações Unidas, 12.495, Centro Empresarial Berrini, Tower A, - Torre Nações Unidas, 18th floor, office 181.

2. Call Notice: 2nd Call Notice published on the Official Gazette of the State of São Paulo on March 21st, 22nd and 23rd, 2012, on pages 114, 58 and 117, respectively, and on the “Valor Econômico”, on March, 21st, 22nd and 23rd, of 2012, on pages C5, D4 and B10, respectively.

3. Attendance: Attendance of shareholders representing the legal quorum, as required by Law No. 6,404/76, as verified by the signatures recorded on the Shareholders´ Attendance Book. Attending as well Ms. Márcia Aparecida de Lucca Calmon, the representative of Apsis Consultoria e Avaliações Ltda.

4. Board - President and Secretary: President: Claudio Bruni; Secretary: José Eduardo Carneiro Queiroz.

5. Agenda: (i) verify, discuss and approve the Protocol and Justification of Merger of One Properties S.A. by BR Properties S.A. (“Protocol and Justification”), executed by the company´s management on March 2nd, 2012, as well as the acts and measures provided therein; (ii) ratify the appointment of Apsis Consultoria e Avaliações Ltda. for the preparation of the appraisal report of the net worth of One Properties S.A., which shall be transferred to the Company according to Articles 8th and 227 of Law No. 6,404/76 (“Appraisal Report”); (iii) approve the Appraisal Report; (iv) approve the merger of One Properties S.A. by the Company (“Merger”) and the consequent increase of the Company´s corporate capital, by means of the issuance of common shares to be subscribed and paid in by the managers of One Properties S.A. on behalf of its shareholders; (v) restate the Company´s By-Laws, including in order to reflect the increase of the corporate capital and the issuance of shares arising from the approval of the Merger and in order to adjust the Company’s By-Laws in accordance with the minimum statutory provisions foreseen on the new Listing Rule of New Market (Regulamento de Listagem do Novo Mercado), published by

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BM&FBovespa S.A. – Bolsa de Valores, Mercadorias e Futuros, as approved by the Exchange Commission (Comissão de Valores Mobiliários – CVM), and in force since May 10th, 2011, that is, Article 1st, sole paragraph (Chapter I – Corporate Name, Headquarters, Corporate Purpose and Term), Article 5th, caput and 3rd paragraph (Chapter II – Corporate Capital), Article 7th, caput and 3rd paragraph, sub item “d” (Chapter III – General Shareholders Meeting), Article 10, caput and 1st, 2nd, 3rd, 4th, 5th and 6th paragraphs, Article 11 , 2nd and 3rd paragraphs, Article 12 , caput and 1st paragraph, sub items “vii”, “xi”, “xix”, and “xx”, Article 14, 3rd and 4th paragraphs (Chapter IV – Management), Article 18, 2nd and 3rd paragraphs, Article 19, caput and sole paragraph (Chapter V – Fiscal Year and Profit Allocation), Article 21, 1st paragraph, Article 22, 2nd paragraph, Article 23, caput and sub item “b”, Article 24, caput and 4th paragraph, Article 25, Article 26, Article 27, sole paragraph, Article 28, caput and paragraphs, Article 29, caput and paragraphs, Article 30, caput and sole paragraph, Article 31, Article 32, caput and sole paragraph, Article 33, 1st paragraph, Article 34 (Chapter VII – Control Assignment, Cancellation of the Publicly Traded Company and Withdrawal from New Market), Article 35, caput and paragraphs (Chapter VIII – Conflict of Interest), Article 36 (Chapter IX – Arbitration), as well as the inclusion and exclusion of other related articles and correct numeration of the By-Laws’ articles; (vi) consolidate the Company´s By-Laws; (vii) approve the execution, by the Company’s managers, of all the necessary acts to implement and formalize the Merger; and (viii) acknowledge the resignation presented by the current members of the Board of Directors and appoint new members to the Company´s Board of Directors (including the designation of the respective substitutes) with a term of office to last until the ordinary general shareholders meeting of the Company which approves the accounts of the 2013 fiscal year.

6. Resolutions: The attending shareholders discussed and, with the abstention of the legally disabled and the abstention of the conflicting votes in each case, the resolutions set forth were taken:

6.1. Register that the minutes of this Shareholder Meeting shall be drawn up in summary form and published without the signature of the shareholders, as allowed by the 1st and 3rd paragraphs of Article 130 of Law No. 6,404/76.

6.2. Approve, by majority of votes, after being examined and discussed, the Protocol and Justification executed on March 2nd, 2012, which, once certified by the Board hereof, shall be filled at the Company´s headquarters.

6.3. Ratify, unanimously, the engagement of Apsis Consultoria e Avaliações Ltda., with head office on the City of Rio de Janeiro, State of Rio de Janeiro, at Rua da Assembleia, 35, 12th floor, enrolled with the National Registry of Legal Entities of the Ministry of Finance under number 08.681.365/0001-3 and with the Regional Accounting Council of Rio de Janeiro under number 005112/0-9 (“Appraiser”) to proceed with the evaluation of the net worth of One Properties S.A.,

SP - 7496744v3 corporation with head office at Avenida Chedid Jafet, 222, 4th floor, Block D, Zip Code 04551-065, in the City of São Paulo, State of São Paulo, enrolled with the National Registry of Legal Entities of the Ministry of Finance under number 07.875.234/0001-21 (“One Properties”), provided that such net worth shall be merged into the Company for the purposes of Articles 226 and 227 and as determined by Article 8th of Law No. 6,404/76, and prepare the respective Appraisal Report.

6.4. Approve, unanimously, after being examined and discussed, the Appraisal Report, which, once certified by the Chair hereof, shall be filled at the Company´s headquarters, provided that the Appraiser’s representative, who has attended the meeting, clarified all necessary information regarding the Appraisal Report.

6.5. Approve, by majority of votes, the merger of One Properties by the Company, as provided for on the Protocol and Justification, by its respective accounting asset value, audited in June 30th, 2011 (“Base-Date”), with the adjustments provided for on the Appraisal Report, in a manner that the Company became the owner of all assets, rights and obligations related to or mentioned in the Appraisal Report, and that was part of One Properties’ net worth.

6.6. Approve, by majority of votes, the increase of the Company´s corporate capital as a result of the Merger, in the amount of R$ 68,011,767.27 (sixty eight millions, eleven thousand, seven hundred and sixty seven Reais and twenty seven cents), by means of the issuance of 129,813,498 (one hundred and twenty nine million, eight hundred and thirteen thousand, four hundred and ninety eight) book entry common shares with no par value, as well as the allocation of R$ 1,649,094,302.58 (one billion, six hundred and forty nine million, ninety four thousand, three hundred and two Reais and fifty eight cents) to the Company’s capital reserve, which have resulted on the merger of One Property’s net worth being concluded for the total amount of R$ 1,717,106,069.85 (one billion, seven hundred and seventeen million, one hundred and six thousand and sixty nine Reais and eighty five cents), as evidenced in the Appraisal Report. As a result of the provision above, the corporate capital was increased from R$ 2,261,996,226.05 (two billion, two hundred and sixty one million, nine hundred and ninety six thousand, two hundred and twenty six Reais and five cents), represented by 180,003,919 (one hundred and eighty million, three thousand, and nine hundred and nineteen) book entry common shares with no par value, to R$ 2,330,007,993.32 (two billion, three hundred and thirty million, seven thousand, nine hundred and ninety three Reais and thirty two cents), represented by 309,817,417 (three hundred and nine million, eight hundred and seventeen thousand, four hundred and seventeen) book entry common shares with no par value.

6.7. The new common shares issued as provided for on item 6.6 above are, herein (i) fully subscribed by the managers of One Properties, on behalf of their respective shareholders, who become shareholders of the Company, according with Article 227, 2nd paragraph of Law No. 6,404/76, (ii) paid in by means of the absorption of One Properties’ net worth by the Company;

SP - 7496744v3 and (iii) delivered, in their totality, to One Properties’ shareholders in the proportion of 0.4579587164 Company’s common shares to each One Property’s common share owned by the referred shareholder, in accordance with the exchange relation established on the Protocol and Justification and in accordance with the Subscription List executed on the present date by the managers of One Properties, which is attached herein as Schedule I and, after certified by the Board hereof, shall be filled at the Company´s headquarters.

6.8. Register that:

6.8.1 the common shares issued on the present date shall have the same rights ascribed to the already existing shares of the Company on the present date and shall have fully participation in all benefits, including dividends and capital remunerations to be declared by the Company.

6.8.2 the shares fragments resulting of the substitution of the position of each shareholder of One Properties that do not compose with other shareholders in order to form entire shares shall be leveled to the inferior closest whole number, and the difference shall be paid in cash by the Company, within up to 30 days as of the present date;

6.8.3 the Merger shall not allow the Company´s shareholders to exercise their withdrawal right since, as provided for on Law No. 6,404/76, such right is not granted to shareholders of merging company; and

6.8.4 the Company´s Fiscal Council was not consulted because it is not currently installed.

6.9. As a consequence of the resolutions taken above and of the corresponding increase of the Company’s corporate capital, Article 5th, caput, of the Company´s By-Laws shall become in force with the following new wording, maintaining its paragraphs as they were before:

“Article 5 – Corporate Capital. The corporate capital is of R$ 2,330,007,993.32 (two billion, three hundred and thirty million, seven thousand, nine hundred and ninety three Reais and thirty two cents), fully subscribed and paid in, divided into 309,817,417 (three hundred and nine million, eight hundred and seventeen thousand, four hundred and seventeen) book entry common shares with no par value.”

6.10. Approve, by the majority of votes, the complete restatement of the Company´s By-Laws, including in order to adjust it to the minimum statutory provisions foreseen on the new Listing Rule of New Market (Regulamento de Listagem do Novo Mercado), published by BM&FBovespa S.A. – Bolsa de Valores, Mercadorias e Futuros, in force since May 10th, 2011, among other adjustments, being amended the following Articles of the Company’s By-Laws: Article 1st, sole

SP - 7496744v3 paragraph (Chapter I – Corporate Name, Headquarters, Corporate Purpose and Term), Article 5th, caput and 3rd paragraph (Chapter II – Corporate Capital), Article 7th, caput and 3rd paragraph, sub item “d” (Chapter III – General Shareholders Meeting), Article 10, caput and 1st, 2nd, 3rd, 4th, 5th and 6th paragraphs, Article 11 , 2nd and 3rd paragraphs, Article 12 , caput and 1st paragraph, sub items “vii”, “xi”, “xix”, and “xx”, Article 14, 3rd and 4th paragraphs (Chapter IV – Management), Article 18, 2nd and 3rd paragraphs, Article 19, caput and sole paragraph (Chapter V – Fiscal Year and Profit Allocation), Article 21, 1st paragraph, Article 22, 2nd paragraph, Article 23, caput and sub item “b”, Article 24, caput and 4th paragraph, Article 25, Article 26, Article 27, sole paragraph, Article 28, caput and paragraphs, Article 29, caput and paragraphs, Article 30, caput and sole paragraph, Article 31, Article 32, caput and sole paragraph, Article 33, 1st paragraph, Article 34 (Chapter VII – Control Assignment, Cancellation of the Publicly Traded Company and Withdrawal from New Market), Article 35, caput and paragraphs (Chapter VIII – Conflict of Interest), Article 36 (Chapter IX – Arbitration); in addition to that, it was included and excluded other related articles and the numeration of the By-Laws’ articles was adjusted, as applicable, all in accordance with the Company’s management proposal made available at the Company’s headquarters, at its Investors Relations website (www.brpr.com.br), as well as on CVM’s and BM&FBovespa’s website on March 2nd, 2012.

6.11. As a consequence of the resolutions taken above, restate, by the majority of votes, the Company´s By-Laws, which shall become in force with the wording provided for on Schedule II of this minute.

6.12. Authorize, by the majority of votes, the Company´s management, represented in accordance with the Company’s By-Laws, to execute all necessary acts and execute all necessary documents to implement and formalize the resolutions taken herein.

The shareholders that attended this meeting acknowledged the resignation of the current members of the Company´s Board of Directors and approved, by the majority of the votes, that the new composition of the Company´s Board of Directors shall be of 7 (seven) sitting members and the same number of alternates, and appointed, by majority of votes, the following members to the Board of Directors, with a term of office to be in force until the Ordinary General Shareholders Meeting of the Company that approves the accounts of 2013 fiscal year: as sitting members, (a) André Santos Esteves, Brazilian, married, systems analyst, enrolled in the CPF/MF under number 857454487-68, resident and domiciled in the city and state of São Paulo, with business address at Avenida Brigadeiro Faria Lima, 3729, 9th floor, Itaim Bibi, Zip Code 04538-133; (b) Carlos Daniel Rizzo da Fonseca, Brazilian, married, business administrator, enrolled in the CPF/MF under number 257.157.868-51, resident and domiciled in the city and state of São Paulo, with business address at Avenida Brigadeiro Faria Lima, 3729, 9th floor, Itaim Bibi, Zip Code 04538-133; (c) Marcelo Kalim, Brazilian, married, economist, enrolled in the CPF/MF under number 185.178.498-50, resident and domiciled in the city and state of São Paulo, with business

SP - 7496744v3 address at Avenida Brigadeiro Faria Lima, 3729, 9th floor, Itaim Bibi, Zip Code 04538-133; (d) Claudio Bruni, Brazilian, married, civil engineer, bearer of the Identity Card R.G. number 6.671.389-4, enrolled in the CPF/MF under number 008.268.688-27, resident and domiciled in the city and state of São Paulo, with business address atn Avenida das Nações Unidas, 12.495, Centro Empresarial Berrini, Torre A – Torre Nações Unidas, 18th floor, office 181, Brooklin Novo, Zip Code 04578-000; (e) Antonio Carlos Augusto Ribeiro Bonchristiano, Brazilian, businessman, bearer of the Identity Card R.G. number 13.076.140, enrolled in the CPF/MF under number 008.268.688-27, resident and domiciled in the city and state of São Paulo, with business address at Avenida Brigadeiro Faria Lima, 3900, 7th floor, Itaim Bibi, Zip Code 04538-1332; (f) José Flávio Ferreira Ramos, Brazilian, married, business administrator, bearer of the Identity Card R.G. number 25.919.840-7, enrolled in the CPF/MF under number 315.119.536-91, resident and domiciled in the city and state of São Paulo, with business address at Avenida Paulista, 2100, 8th floor, Cerqueira Cesar, Zip Code 01310-930; and (g) as Independent Advisor, Roberto Ruhman, Brazilian, married, business administrator, enrolled in the CPF/MF under number 003.424.218-08, resident and domiciled in the city and state of São Paulo, with business address at Avenida Brigadeiro Faria Lima, 2277, 16th floor, suite 1604, Zip Code 01452-000; and as substitute members, (a) Marcelo Fedak, Brazilian, married, business administrator, enrolled in the CPF/MF under number 221.417.858-98, resident and domiciled in the city and state of São Paulo, with business address at Avenida Brigadeiro Faria Lima, 3729, 9th floor, Itaim Bibi, Zip Code 04538-133; (b) Antonio Carlos Canto Porto Filho, Brazilian, married, businessman, enrolled in the CPF/MF under number 468.306.778-15, resident and domiciled in the city and state of São Paulo, with business address at Avenida Brigadeiro Faria Lima, 3729, 9th floor, Itaim Bibi, Zip Code 04538-133; (c) Roberto Balls Sallouti, Brazilian, married, businessman, enrolled in the CPF/MF under number 135.962.478-37, resident and domiciled in the city and state of São Paulo, with business address at Avenida Brigadeiro Faria Lima, 3729, 9th floor, Itaim Bibi, Zip Code 04538-133; (d) Rodolpho Amboss, Brazilian, married, civil engineer, bearer of the Identity Card R.G. number 355.703-SPTC/ES, enrolled in the CPF/MF under number 742.664.117-15, resident and domiciled in the city and state of New York, with business address at Avenue of Americas, 12th floor, 10019, United States of America; (e) Sheila Periard Henrique Silva, Brazilian, married, economist, bearer of the Identity Card R.G. number 35.700.664-1 SSP/SP enrolled in the CPF/MF under number 069.227.887-70, resident and domiciled in the city and state of São Paulo, with business address at Avenida Paulista, 2100, 8th floor, Zip Code 01310- 930; and (f) Antonio Carlos Borges Camanho, Brazilian, divorced, economist, bearer of the Identity Card R.G. number 52.885.164-0 SSP/SP enrolled in the CPF/MF under number 186.116.567-68, resident and domiciled in the city and state of São Paulo, with business address at Rua Joaquim Floriano, 466, suites 1009 and 1010, Itaim Bibi.

6.12.1 The members of the Board of Directors appointed herein shall be empowered by means of the execution of the respective term of appointment, drawn up on the applicable book, in which occasion they shall make the non-impediment statement required by Law, provided that the

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Company has received from the appointed members information that they have conditions to execute the aforementioned statement provided for at CVM Instruction No. 367, from May 29th, 2002.

7. Closure: There being no further business, the meeting was adjourned and its resolutions were drafted in the form of minutes, read and signed by all the present shareholders. São Paulo, March 29th, 2012. Signatures: Claudio Bruni, President; José Eduardo Carneiro Queiroz, Secretary; Shareholders:

CARAIBAS PARTICIPAÇÕES LTDA CLAUDIO BRUNI PEDRO MARCIO DALTRO DOS SANTOS MARTIN ANDRES JACO MARCO ANTONIO CORDEIRO VANESSA RIZZON CRISTINA MARIA SOUBIHE ROGERIO DOS SANTOS CARDOSO MARCELO REBONATO MARIANI CARLETTI CARLOS MASSARONI TAKADA BASF SOCIEDADE DE PREVIDENCIA COMPLEMENTAR BRADESCO - FUNDO DE INVESTIMENTO - ACOES - STOCK PICKING BRADESCO F.I.A. MASTER PREVIDENCIA BRADESCO FDO DE INVESTIMENTO EM ACOES INSTITUTIONAL IBX ATIV BRADESCO FI EM ACOES SUL ENERGIA BRADESCO FI MULTIMERCADO PREVCUMMINS BRADESCO FIA EQUITIES BRADESCO FIA GOVERNANCA CORPORATIVA BRADESCO FIA INFRA ESTRUTURA BRADESCO FIA LINCE BRADESCO FIA SELECAO BRADESCO FIA SELECTION BRADESCO FIA SMALL CAP PLUS BRADESCO FIA SUPER ACAO BRADESCO FUNDO DE INVESTIMENTO EM ACOES AMS BRADESCO FUNDO DE INVESTIMENTO EM ACOES ENERGIA BRADESCO FUNDO DE INVESTIMENTO EM ACOES IBX PLUS BRADESCO FUNDO DE INVESTIMENTO EM ACOES IDEAL BRADESCO FUNDO DE INVESTIMENTO EM ACOES LONA BRADESCO FUNDO DE INVESTIMENTO EM ACOES MIRANTE IBX BRADESCO FUNDO DE INVESTIMENTO EM ACOES PROMON BRADESCO FUNDO DE INVESTIMENTO MULTIMERCADO FPP ALM

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BRADESCO FUNDO DE INVESTIMENTO MULTIMERCADO JJSP I BRADESCO FUNDO MUTUO DE PRIVATIZACAO FGTS CL BRADESCO MULTIPORTFOLIO FMP - FGTS CL BRADESCO PRIVATE FIA IBOVESPA ALAVANCADO BRADESCO PRIVATE FUNDO DE INVESTIMENTO EM ACOES BRAM F.I.A IBOVESPA ATIVO BRAM FIA IBOVESPA ALAVANCADO BRAM FIB FIA BRAM FUNDO DE INVESTIMENTO EM ACOES IBRX ATIVO FORD PREVIDENCIA PRIVADA FUNDO DE INVESTIMENTO DE ACOES PREVIDENCIARIO IGUACU FC INSTITUTO ADVENTISTA DE JUBILACAO E ASSISTENCIA RANDONPREV – FUNDO DE PENSÃO SPASAPREV SOCIEDADE DE PREVIDENCIA PRIVADA LUZ FUNDO DE INVESTIMENTO EM ACOES SAFRA ACOES - FUNDO DE INVEST EM ACOES SAFRA CONSTRUCAO CIVIL - FUNDO DE INVESTIMENTO EM ACOES SAFRA EQUITY PORTFOLIO FUNDO DE INVESTIMENTO EM ACOES SAFRA INFRAESTRUTURA - FUNDO DE INVESTIMENTO EM ACOES SAFRA LARGE CAP FUNDO DE INVESTIMENTO EM ACOES SAFRA PRIVATE FUNDO DE INVESTIMENTO EM ACOES SAFRA SMALL CAP FUNDO DE INVESTIMENTO EM ACOES ETOILE INVESTMENTS LLC CREDIT SUISSE INTERNATIONAL CREDIT SUISSE PROPRIO FUNDO DE INVESTIMENTO DE ACOES LAUGAR S A ALANA I ACOES - FUNDO DE INVESTIMENTO DUGIDE ACOES - FUNDO DE INVESTIMENTO EQUITY HEDGE IB - MULTIMERCADO FUNDO DE INVESTIMENTO FUNDO DE INVESTIMENTO MULTIMERCADO UNIPREV I IT NOW IGCT FUNDO DE INDICE ITAU ACOES IBRX ATIVO FI ITAU ACOES INFRA ESTRUTURA - FUNDO DE INVESTIMENTO ITAU ACOES SELECAO BRASIL - FUNDO DE INVESTIMENTO ITAU ACOES VALUATION MASTER FUNDO DE INVESTIMENTO ITAU BRASIL EUA MULTIMERCADO - FI ITAU CARTEIRA LIVRE ACOES - FUNDO DE INVESTIMENTO ITAU CELI ACOES - FUNDO DE INVESTIMENTO ITAU EQUITY HEDGE 30 MULTIMERCADO FUNDO DE INVESTIMENTO ITAU EQUITY HEDGE MULTIMERCADO - FUNDO DE INVESTIMENTO

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ITAU ESPORTE ACOES - FUNDO DE INVESTIMENTO ITAU FENIX ACOES FI ITAU FLEXPREV VALOR ACOES - FUNDO DE INVESTIMENTO ITAU FUNDO MULTIPATROCINADO ITAU GOVERNANCA CORPORATIVA ACOES - FUNDO DE INVESTIMENTO ITAU INDEX ACOES IBRX - FUNDO DE INVESTIMENTO ITAU INSTITUCIONAL 50 ACOES - FUNDO DE INVESTIMENTO ITAU INSTITUCIONAL IBOVESPA ATIVO ACOES-FDO DE INVESTIMENTO ITAU INSTITUCIONAL IBRX ATIVO ACOES - FUNDO DE INVESTIMENTO ITAU LONG BIAS ACOES - FUNDO DE INVESTIMENTO ITAU MOMENTO ACOES - FUNDO DE INVESTIMENTO ITAU MULTIMERCADO LATAM EQUITY HEDGE FI ITAU PERSONNALITE ACOES IBOVESPA ATIVO - FDO DE INVESTIMENTO ITAU PRIVATE ATIVO ACOES - FUNDO DE INVESTIMENTO ITAU PRIVATE SELECT ACOES - FUNDO DE INVESTIMENTO ITAU SELECAO ACOES - FUNDO DE INVESTIMENTO ITAU VALOR ACOES - FUNDO DE INVESTIMENTO ITAU VALOR ACOES ALAVANCAGEM FUNDO DE INVESTIMENTO JJSP FUND II PREVIDENCIARIO MULTIMERCADO FDO DE INVESTIMENTO LEAO ACOES - FUNDO DE INVESTIMENTO LIVEMAX II CAPITAL ACOES - FUNDO DE INVESTIMENTO LUXOR ACOES - FUNDO DE INVESTIMENTO MACAUBA FUNDO DE INVESTIMENTO EM ACOES MINEIRINHO FUNDO DE INVESTIMENTO EM ACOES MONGERAL AEGON RV 45 PREV BALANC MM FI ITAU NEFERTITI FI ACOES PREVINDUS MASTER MULTIMERCADO FUNDO DE INVESTIMENTO RODY CAPITAL I FUNDO DE INVESTIMENTO EM ACOES RT GALAXIA ACOES FUNDO DE INVESTIMENTO SMALL CAP VALUATION IB FUNDO DE INVESTIMENTO EM ACOES TOP 1428 RENDA FIXA - FIC DE FI UNIBANCO BLUE FIA UNIBANCO CONSTRUCAO CIVIL FUNDO DE INVESTIMENTO EM ACOES UNIBANCO GZ FUNDO DE INVESTIMENTO EM ACOES UNIBANCO INFRA ESTRUTURA FUNDO DE INVESTIMENTO EM ACOES UNIBANCO INSTITUCIONAL SMALL CAP FIA UNIBANCO MICRO CAP FIA UNIBANCO OURO FINO FUNDO DE INVESTIMENTO EM ACOES UNIBANCO PREVIDENCIA IBOVESPA FIA UNIBANCO PREVIDENCIA IBRX FIA

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UNIBANCO SMALL CAP FIA UNIBANCO STRATEGY FIA XTRADE ACOES FUNDO DE INVESTIMENTO GPCM, LLC PRIVATE EQUITY PARTNERS A LLC PRIVATE EQUITY PARTNERS B LLC MIRAE ASSET BRAZIL SECTOR LEADER EQUITY MASTER INV TRUST MIRAE ASSET DISCOVERY ACOES DIVIDENDOS FUNDO DE INVESTIMENTO MIRAE ASSET DISCOVERY EQUITY FOCUS II FDO DE INVEST EM ACOES MIRAE ASSET DISCOVERY EQUITY FOCUS MULTIMERCADO FDO DE INVES MIRAE ASSET DISCOVERY EQUITY INVESTMENT TRUST G1 MIRAE ASSET EMERGING FOCUS 30 EQUITY INVESTMENT TRUST NO.1 MIRAE ASSET EQUITY VALUE FI EM ACOES MIRAE ASSET IBOVESPA ATIVO FUNDO DE INVESTIMENTO EM ACOES MIRAE ASSET IBOVESPA ATIVO GOLD FD DE INVESTIMENTO EM ACOES MIRAE ASSET INDEPENDENCE EQUITY INVESTMENT TRUST G1 MIRAE ASSET INSTITUCIONAL ACOES FUNDO DE INVESTIMENTO MIRAE ASSET LATIN AMERICA SECTOR LEADER EQUITY MIT MIRAE ASSET LONG & SHORT MASTER FIM BRAZIL SECTOR LEADER FUND GLOBAL EMERGING MARKETS GREAT CONSUMER FUND MIRAE ASSET INSIGHT BALANCED MASTER PRIVATE INVESTMENT TRUST MIRAE ASSET KORBRUSSIA FOCUS 7 EQUITY INVESTMENT TRUST NO.1 MIRAE ASSET LATIN AMERICAN SECTOR LEADER EQUITY MASTER INVESTMENT TRUST MIRAE ASSET MY CHILDREN (RSP) INVESTMENT TRUST GK-A MIRAE ASSET SOLOMON PLANNER EQUITY NVESTMENT TRUST G-1 MIRAE ASSET MY CHILDREN EQUITY INVESTMENT TRUST MIRAE ASSET GLOBAL DISCOVERY FUND ALLIANZ VARIABLE INSURANCE PRODUCTS TRUST ALPINE CYCLICAL ADVANTAGE PROPERTY FUND ALPINE EMERGING MARKETS REAL ESTATE FUND ALPINE GLOBAL PREMIER PROPERTIES FUND ALPINE INTERNATIONAL REAL ESTATE EQUITY FUND AMUNDI FUNDS ARTISAN EMERGING MARKETS FUND ARTISAN PARTNERS GLOBAL FUNDS PUBLIC LIMITED COMPANY ASCENCION HEALTH BATTERYMARCH GLOBAL EMERGING MARKETS FUND BAY POND INVESTORS (BERMUDA) LP BLACKROCK KOREA LATIN AMERICAN FUND-MASTER

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BOMBARDIER TRUST (US) MASTER TRUST BRAZIL SECTOR LEADER FUND CAISSE DE DEPOT ET PLACEMENT DU QUEBEC CATHOLIC HEALTH INITIATIVES CATHOLIC UNITED INVESTMENT TRUST CENTRAL STATES SOUTHEAST SOUTHWEST A PE FD CI EMERGING MARKETS CORPORATE CLASS CI EMERGING MARKETS FUND CI GLOBAL SMALL COMPANIES CORPORATE CLASS CI GLOBAL SMALL COMPANIES FUND COHEN & STEERS EMERGING MARKETS REAL ESTATE FUND, INC COHEN & STEERS GLOBAL LISTED PROPERTY FUND COHEN & STEERS GLOBAL REALTY SHARES, INC. COHEN & STEERS INSTITUTIONAL GLOBAL REALTY SHARES, INC. COHEN & STEERS INTERNATIONAL REALTY FUND, INC. COHEN & STEERS REAL ASSETS FUND, INC COHEN & STEERS SICAV COLLEGE RETIREMENT EQUITIES FUND DRIEHAUS COMPANIES PROFIT SHARING PLAN AND TRUS DRIEHAUS EMERGING MARKETS SMALL CAP GROWTH FUND DRIEHAUS INTERNATIONAL SMALL CAP G FD, A SE DRIEHAUS M FNDS DTE ENERGY COMP AFFILIATES EMPLOYEE BENEFIT PLANS MASTER TRU DTE VEBA MASTER TRUST EMERGING MARK SMALL CAPITALIZAT EQUITY INDEX NON-LENDA FD B EMERGING MARKETS EQUITY CORPORATE CLASS EMERGING MARKETS EQUITY POOL EMERGING MARKETS SMALL CAPIT EQUITY INDEX NON-LENDABLE FUND EQ ADVISORS TRUST- EQ/MID CAP VALUE PLUS PORTFOLIO EVANGELICAL LUTHERAN CHURCH IN AMERICA B O PN EWING MARION KAUFFMAN FOUNDATION FAIRFAX COUNTY EMPLOYEES RETIREMENT SYSTEM FAIRFAX COUNTY POLICE OFFICERS RET. SYSTEMS FAIRFAX COUNTY UNIFORMED RETIREMENT SYSTEM FAMANDSFORENINGEN PENSAM INVEST PSI 50 EMERG MARKET AKTIER FI VOTORANTIM IBRX EM ACOES FIDELITY EMERGING MARKETS FUND FIDELITY INV. T. FID. EMRG. MARKETS FND FIDELITY INVESTMENT TRUST: FIDELITY SERIES EMERGING MARK FUN FIDELITY INVESTMENT TRUST: FIDELITY TOTAL EMERGING MARKETS F FIDELITY RUTLAND SQUARE TRUST II: STRATEGIC ADVISERS INT F

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FINDLAY PARK AMERICAN FUND FINDLAY PARK LATIN AMERICAN FUND FIRE AND POLICE EMPL RET SYST, C OF BALTIMORE FIRST INITIATIVES INSURANCE LTD FLORIDA RETIREMENT SYSTEM TRUST FUND FORD MOTOR CO DEFINED BENEF MASTER TRUST FUNDO DE INVESTIMENTO EM ACOES VOTORANTIM VISION GARD COMMON CONTRACTUAL FUND GLOBAL ADVANTAGES F - EMG MKTS HIGH VALUE TEILFONDS GLOBAL EMERGING MARKETS GREAT CONSUMER FUND GLOBAL EMERGING MARKETS SECTOR LEADER FUND GLOBEFLEX INTERNATIONAL PARTNERS LP GMAM INVESTMENT FUNDS TRUST GMO REAL RETURN ASSET ALLOCATION FUND, L.P. GOLDMAN SACHS TRUST - GOLDMAN S ST EM MKTS EQUITY FUND GOVERNMENT OF SINGAPORE HOUR-GLASS EMERGING MARKETS SHARES SECTOR TRUST HSBC FI ACOES VALOR HSBC FI DE ACOES KAZAN PRIVATE HSBC FI EM ACOES DIVIDENDOS HSBC FI MULTIMERCADO ABAETE HSBC FI MULTIMERCADO PREVID AGRESSIVO - VGBL HSBC FI MULTIMERCADO PREVIDENCIARIO 49 HSBC FI MULTIMERCADO PREVIDENCIARIO AGRESSIVO HSBC FI MULTIMERCADO PREVIDENCIARIO AMB HSBC FI MULTIMERCADO PREVIDENCIARIO EMPRESARIAL MODERADO HSBC FI MULTIMERCADO PREVIDENCIARIO FUTURE COMPOSTO II HSBC FI MULTIMERCADO PREVIDENCIARIO MODERADO II - VGBL HSBC FI PREVIDENCIARIO MULTIMERCADO POTENCIAL HSBC FI PREVIDENCIARIO MULTIMERCADO VALOR HSBC FIA KAZAN INSTITUCIONAL HSBC FIA SMALL CAPS HSBC FIM PREVIDENCIARIO FUTURE COMPOSTO I HSBC FIM PREVIDENCIARIO FUTURE COMPOSTO III HSBC FIM PREVIDENCIARIO MODERADO HSBC FIM PREVIDENCIARIO TAGUAIBA HSBC FUNDO DE INV DE ACOES NITE HSBC FUNDO DE INV DE ACOES SETORIAL ATIVO HSBC FUNDO DE INVESTIMENTO ACOES INSTITUCIONAL HSBC FUNDO DE INVESTIMENTO DE ACOES CELI

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HSBC FUNDO DE INVESTIMENTO DE ACOES SANTA HELENA VALOR HSBC FUNDO DE INVESTIMENTO EM ACOES PLUS IBM DIVERSIFIED GLOBAL EQUITY FUND ING BEWAAR MAATSCHAPPIJ I BV ING INTERNATIONAL SMALLCAP MULTI-MANAGER FUND ING MID CAP VALUE FUND INOVA HEALTH SYSTEM FOUNDATION INOVA HEALTH SYSTEM FOUNDATION DEFINED BENEFIT PLAN MASTER T INVESCO REAL ESTATE FUND ISHARES MSCI BRAZIL SMALL CAP INDEX FUND ISHARES MSCI EMERGING MARKETS SMALL CAP INDEX FUND JANUS CAPITAL FUNDS PLC/ JANUS GLOBAL REAL ESTATE FUND JANUS GLOBAL REAL ESTATE FUND JANUS REAL RETURN ALLOCATION FUND JAPAN TRUSTEE SERV BANK, LTD. A T F RB M S F E C R E FUND JOHN HANCOCK VARIABLE INS TRUST CORE ALLOCATION PLUS TRUST LAUDUS INTERNATIONAL MARKETSMASTER FUND LAZARD INTERNATIONAL REALTY EQUITY PORTFOLIO LEGG MASON GL TR, INC- L M BATTERYMARCH EMERG MARKETS TRUST LINCOLN VARIABLE INSURANCE PRODUCTS TRUST - LVIP COHEN&SGREF LINCOLN VARIABLEINSURANCE PROD.TRUST-LVIP MID-CAP VALUE FUND LORD ABBET SECURITIES TRUST - L A INTL OPP FD LORD ABBETT SERIES FD INC INTERNATIONAL OPPORT PORTIFOLIO MACKENZIE UNIVERSAL WORLD REAL ESTATE CLASS MAINSTAY EPOCH INTERNATIONAL SMALL CAP FUND MARKET VECTORS - LATIN AMERICA SMALL - CAP ETF MICHELIN PREVIDENCIARIA - PREVIM MINISTRY OF STRATEGY AND FINANCE MORGAN STANLEY INST FUND, INC, GLOBAL REAL ESTATE PORTFOLIO MTTF INVESTMENTS LLC NATIONAL COUNCIL FOR SOCIAL SECURITY FUND NATIONAL ELEVATOR INDUSTRY PENSION PLAN NATIONAL PENSION SERVICE NATIONAL W BANK PLC AS T OF J GLOBAL EMERGING MARKETS FD NAVY EXCHANGE SERVICE COMMAND RETIREMENT TRUST OMERS ADMINISTRATION CORPORATION OPTIMIX WHOLESALE GLO SMALLER COMP SHARE TRUST OPTIMIX WHOLESALE GLOBAL EMERGING MARKETS SHARE TRUST PETER L MALKIN FAMILY 2000 LLC PHILIPS ELECTRONICS N.A. CORP MASTER RET TRU

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POPLAR TREE FUND OF AMERICAN INVESTMENT TRUST PPL SERVICES CORPORATION MASTER TRUST PRIMA INVESTMENTS LLC PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO PUBLIC EMPLOYES RET SYSTEM OF MISSISSIPPI PYRAMIS EMERGING MARKETS EQUITY TRUST PYRAMIS GROUP T FOR EMP BEN PLANS: PIRAMIS EM MKTS COM POOL RAILWAYS PENSION TRUSTEE COMPANY LIMITED RBS PENSION TRUSTEE LIMITED REAL ESTATE INVESTMENT CORPORATE CLASS REAL ESTATE INVESTMENT POOL REGIME DE RETRAITE DU PERSONNEL DES CPE ET DES GARDER PCDQ RENAISSANCE GLOBAL REAL ESTATE FUND RETAIL EMPLOYEES S PTY. LIMITED RIVERSOURCE VARIABLE SERIES TRT - VA PO - MO ST GL RE ES FD ROBECO GLOBAL EMERGING MARKETS EQUITY FUND II ROBECO PORTFOLIO TRUST - ROBECO GLOBAL EMERGING MARK EQ FD ROBUSTA GLOBAL EMERGING MARKETS FUND ROCKWELL COLLINS MASTER TRUST SCHRODER INTERNATIONAL SELECTION FUND SELECT INTERNATIONAL EQUITY MANAGED CORPORATE CLASS SELECT INTERNATIONAL EQUITY MANAGED FUND SPDR S&P EMERGING MARKETS SMALL CAP ETF SSGA ACTIVE EM MKTS SEC LEND QP COM TR FD SSGA ACTIVE EMS CAP SEC LENDING QIB COMMON TRUST FUND SSGA EMERGING MARKETS FUND SSGA MSCI EMERGING MKT SMALL CI NON LENDING COMMON TRT FUND SSGA REXITER ACTIVE EMERG MKTS NON-LENDING QIB COMMON TT FD SSGA SPDR ETFS EUROPE I PLC STATE OF ALASKA RET AND BENEFIT PLANS STATE OF CONNECTICUT RET PLANS AND TRT FUN STATE OF IND PUBLIC EMPL RET FUND STATE OF NEW MEXICO EDUCATIONAL RETIREMENT BOARD STATE OF OREGON STATE OF WISCONSIN INVT. BOARD MASTER TRUST STATE ST B AND T C INV F F T E RETIR PLANS STATE STREET EMERGING MARKETS STATE SUPER FINANCIAL SERV INTL EQ SECTOR TRU STICHTING CUSTODY ROBECO INSTITL RE:ROBECO INSTIT EM MKT FON STICHTING PENSIOENFONDS CORPORATE EXPRESS

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SUPERVALU INC. MASTER INVESTMENT TRUST TCW INTERNATIONAL SMALL CAP FUND TEACHER RETIREMENT SYSTEM OF TEXAS TEACHERS RETIREMENT SYSTEM OF THE STATE OF ILLINOIS THE BABCOCK & WILCOX COMPANY MASTER TRUST THE BANK OF KOREA THE BANK OF NEW YORK MELLON CORPORATION RETIREMENT PLANS MAS THE BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM THE BOEING COMPANY EMPLOYEE RETIREMENT PLANS MASTER TRUST THE BOMBARDIER TRUST (CANADA) REAL RETURN ASSETS FUND THE EM MKT EQ INV PORT OF CONS GR CAP MKT FDS THE GMO EMERGING MARKETS FUND THE MASTER T BK OF JP, LTD AS T OF PINEBRIDGE E MKT E M FDII THE MASTER TRUST BANK OF JAPAN LTD. AS TR OF MUTB400037876 THE MONETARY AUTHORITY OF SINGAPORE THE MTBJ, LTD. AS TRT F N TRT ALL C WD E IN I F (TAX E QIIO) THE PENSION RESERVES INVESTMENT MANAG.BOARD THE UNIVERSAL INST FUNDS, INC, GLOBAL REAL ESTATE PORTFOLIO THREADNEEDLE INVESTMENT FUNDS ICVC TIAA-CREF FUNDS - TIAA-CREF EMERGING MARKETS EQUITY FUND TRADITIONAL FUNDS PLC - GLOBAL EMERGING MARKETS FUND TREASURER OF THE ST.OF N.CAR.EQT.I.FD.P.TR. ULLICO DIVERSIFIED INTERNATIONAL EQUITY FUND, LP UNIBANCO CONSTRUCAO CIVIL FUNDO DE INVESTIMENTO EM ACOES UNIV OF PITTSBURGH MEDICAL CENTER SYSTEM UNIVERSITIES SUPERANNUATION SCHEME LTD USAA EMERGING MARKETS FUND VANGUARD GLOBAL EX-U.S. REAL ESTATE INDEX F A S O V I E I F VANGUARD INTERNATIONAL EXPLORER FUND VANGUARD TOTAL INTERNATIONAL STOCK INDEX FD, A SE VAN S F VANGUARD TOTAL WSI FD, A SOV INTERNATIONAL EQUITY INDEX FDS VARIABLE INSURANCE PRODUCTS FUND IV: EMERGING MARKETS PORTFO VIRGINIA RETIREMENT SYSTEM WILLIAM BLAIR COLLECTIVE INVESTMENT TRUST WILLIAM BLAIR EMERGING MARKETS GROWTH FUND WILLIAM BLAIR EMERGING MARKETS SMALL CAP GROWTH FUND WILLIAM BLAIR INSTITUTIONAL INTERNATIONAL GROWTH FUND WORCESTERSHIRE COUNTY COUNCIL PENSION PLAN FI BOTANICO MM CP FUNDO DE INVESTIMENTO ARARI EM ACOES

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NAT WET BK PLC DEP OF FI S INV ICVC F S G P SEC FUND HSBC FI MULTIMERCADO PREVIDENCIARIO MODERADO II HSBC FI DE AÇÕES SALUBRE

I declare that the present matches with the original inscribed on the proper book.

São Paulo, March 29th, 2012.

José Eduardo Carneiro Queiroz Secretary

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