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NOTICE OF MATERIAL FACT: AGREEMENT WITH THE CEF
The management of Rodobens Negocios Imobiliarios S.A. (“Rodobens”), pursuant to Instruction 358/02 of the Brazilian Securities and Exchange Comission (CVM), as amended, informs the public that it has signed, as of December 20, 2007, a Memorandum of Understanding (“MoU”) with Caixa Economica Federal (“CEF”), with the purpose of, under the scope of the Growth Acceleration Program (PAC) of the Federal Government of Brazil, to promote and to secure the financing for the production and sale of homes to be produced by Rodobens targeted to homebuyers with monthly income from 3 (three) to 10 (ten) minimum wages, primarily to homebuyers of 3 (three) to 5 (five) minimum wages.
The MoU foresees loans to be provided by the CEF for the construction and sale of 30,000 homes to be built by Rodobens in the period of three years, with a total selling value of up to R$1,800,000,000.00 (one billion eigth hundred million Brazilian reais).
Regarding the evidence of income for homebuying, Rodobens´ customers will benefit from the CEF´s credit granting scheme named “Adimplência Premiada” (herein freely translated as “Reward for Timeliness of Payments”), which consists in determining a homebuyer´s monthly capacity of payment based on the average of the monthly installments actually paid to Rodobens in a timely fashion during the previous 12 (twelve) months – a criteria commonly known as “behavior”. Besides that option, there will also be eligible to be financed by the CEF those homebuyers who can prove the timely payment of home rent in the previous 12 (twelve) months. The monthly installment of the pre-approved housing loan from the CEF will be up to 100% of the amount being paid by the homebuilder as rent.
The MoU does not involve payments between the parties and its validity term is for 3 (three) years as from the date of its signature.
São José do Rio Preto, December 21, 2007.
Orlando Viscardi Neto
Investor Relations Officer