To
BM&FBOVESPA S.A. Securities, Commodities and Futures Exchange
Issuers Oversight Department
Attn: Mr. Nelson Barroso Ortega
C.c. Securities and Exchange Commission of Brazil (CVM)
Mr. Fernando Soares Vieira – Department of Company Relations
Mr. Waldir de Jesus Nobre – Department of Market Relations and Intermediates
Sirs,
We are hereby providing the clarification that Aliansce Shopping Centers S.A. (“Company”) considers
applicable to the request for information made in the Letter GAE 0078-12 of January 10, 2012, sent by
BM&FBOVESPA S.A. - Securities, Commodities and Futures Exchange (“Request”), which is
transcribed below:
“GAE 0078-12
January 10, 2012
Aliansce Shopping Centers S.A.
Investor Relations Department
Mr. Henrique Christino Cordeiro Guerra
Sirs,
A news item in the January 10, 2012 edition of Valor Econômico newspaper mentions, among others, that
the company’s average net cash in 2012 should be R$ 300 million.
We request a clarification on said news item as well as other information deemed important, on or before
January 11, 2012.
Note that this request is made within the ambit of the Cooperation Agreement entered into between CVM
and BM&FBOVESPA on December 13, 2011, and that its non-compliance may subject this company to a
fine levied by the Department of Corporate Relations(SEP) of CVM pursuant to CVM Rule 452/07.
Sincerely
Nelson Barroso Ortega
Issuers Oversight Department
BM&FBOVESPA S.A. - Securities, Commodities and Futures Exchange
Phone: +55 (11) 2565-6063 / 2565-7222
C.c. Securities and Exchange Commission of Brazil (CVM)
Mr. Fernando Soares Vieira – Department of Corporate Relations
Mr. Waldir de Jesus Nobre - Department of Market Relations and Intermediates”
Company’s clarifications:
Regarding the news item in the January 10, 2012 edition of the Valor Econômico newspaper, (“News”),
which reported that the Company’s average net cash in 2012 should be R$300 million, the Company
hereby clarifies that this information should not be taken as guidance as it is was merely an example
provided in the article. It is merely an expectation that may or may not be achieved, and the projections
are identified as hypothetical data that do not constitute a commitment to perform, which should be
reasonable and followed by relevant premises and the explanation that they may be influenced by the
Company’s Management and are beyond its control, parameters and the methodology adopted, which is
not the case here. Moreover, if the Company discloses any guidance; it would do so in accordance with
the applicable rules and not through a news report.
We hope we have clarified your query.
We are available for any further clarifications, if required.
Rio de Janeiro, January 11, 2012.
Aliansce Shopping Centers S.A.
Henrique Christino Cordeiro Guerra
Investor Relations Officer