TECNISA S.A.

Publicly-held Company

08.065.557/0001-12

Company Registry (NIRE): 35.300.331.613

MATERIAL FACT

TECNISA S.A., one of the largest residential developers in Brazil, working in an integrated way (development, construction and sales), with its shares traded at the BM&FBOVESPA S.A. Securities, Commodities & Futures Exchange, in the Novo Mercado segment, under the ticker TCSA3 , pursuant to Article 157, § 4 of Law
6.404 of December 15, 1976, as amended ("Brazilian Corporate Law") and CVM Instruction 358, of January 3, 2002, as amended ("CVM 358/2002 "), hereby informs its shareholders and the market in general that:
The Company's Management, always aware to opportunities that could create value for shareholders, is currently assessing proposals involving the project "Jardim das Perdizes", including, but not limited, the admission of a new strategic investor, domestic or foreign.
The evaluations undertaken by the Company are, so far, in the preliminary study phase and initial discussions by the Management and its advisors. No contracts or binding documents disciplining any terms and conditions relating to any opportunity analyzed were signed.
In accordance with applicable law and in accordance with best governance practices, the Company will keep its shareholders, its investors and the market in general informed of any developments on the subject.
São Paulo, January 21, 2015.

Vasco de Freitas Barcellos Neto

Chief Financial Officer and Investor Relations Officer

1 Material Fact São Paulo, January 21, 2015.

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