Tecnisa SA : 2011 and 4Q11 Operational Results Preview

TECNISA launches R$2.12 billion in 2011, equivalent to 96% of its guidance, and contracted sales reach R$1.83 billion

A TECNISA S.A. (BMF&BOVESPA: TCSA3), one of the largest residential developers in Brazil, operating with an integrated business model that includes development, construction and brokerage operations, announces today its preliminary operating results for the fourth quarter of 2011 (4Q11). These results are unaudited and subject to change.

Launches

In 4Q11, TECNISA launched 8 new developments as well as 5 new phases of projects already launched, totaling
R$1.41 billion, R$1.02 billion of which are TECNISA's interest.
As a result, the Company closed 2011 with total launches of R$2.12 billion, corresponding to 96% of its guidance
(R$2.2 billion).
In 4Q11 TECNISA launched 6 projects under the Premium platform and 7 under the Flex platform, with the latter accounting for 37% of TECNISA's PSV. In geographical terms, 55% of the quarter's launches were outside the state of São Paulo.
It is also worth noting that 67% of launches took place at the end of the quarter, slightly contributing to sales in the period.
The charts below show the evolution and breakdown of 2011 launches by business platform and geographical region (TECNISA's interest).

Launches (R$ million)

2,054 2,116

1,052

1,016

312

2010 2011 4Q10 3Q11 4Q11

Business Segment - 2011 Geographical Distribution - 2011

42%

47%

58%

53%

Flex Premium Other states State of São Paulo

Sales

Contracted sales totaled R$514.6 million in 4Q11, of which TECNISA's interest was R$403.3 million. Sales velocity
(VSO*) was 15.5% in the quarter.
In 2011, TECNISA's share of contracted sales totaled R$1.83 billion, 21% up on 2010, with a VSO of 49.2%, versus
48.5% in 2010.
* VSO = Contracted Sales / (Initial Inventory + Launches)
The chart below shows TECNISA's sales performance in the periods.

Contracted Sales (R$ million)

1,830

1,510

750

337 403

2010 2011 4Q10 3Q11 4Q11

About TECNISA - Founded 34 years ago, TECNISA S.A. is one of the largest, most well-established and most innovative real estate companies in Brazil, and one the five largest in the São Paulo market. It operates in every segment of the business, from development through construction to sales, and its many competitive advantages include a strong reputation, focus on exemplary client service and product quality, online sales and consistent profitability. TECNISA is listed on the BM&FBOVESPA's Novo Mercado trading segment and is also included in the Brazil Index (IBrX), Real Estate Index (IMOB), Small Cap Index (SMLL), Industrial Sector Index (INDX), Corporate Governance Trade Index (IGCT), Special Tag Along Stock Index (ITAG) and Special Corporate Governance Stock Index (IGC). It is traded under the TCSA3 ticker.

For additional information: Thomas Brull

Vasco Barcellos

Phone: [phone] [e-mail] www.tecnisa.com.br/ri

Forward looking statements contained herein are based on expected results, performance and events. Actual results, performance and events may differ substantially from those projected or implied by these forward-looking statements, as a consequence of various factors, including the general and economic conditions of Brazil and other countries; interest and exchange rate levels, protectionist measures in USA, Brazil and other countries, and legal and regulatory changes and general competitive factors (national, regional or global).

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