CYRELA BRAZIL REALTY S.A. EMPREENDIMENTOS E PARTICIPAÇÕES
Corporate Taxpayer's Id. (CNPJ/MF) 73.178.600/0001-18
Publicly-held Company with authorized capital
Notice to the Market
Cyrela Brazil Realty S.A. Empreendimentos e Participações ("Cyrela" or
"Company"), a developer of residential property and member of the Novo
Mercado of the São Paulo Stock Exchange (Bovespa) hereby informs that, due
to the prevailing market conditions, it has decided to postpone the issue of debt
notes approved at the meeting of the Company's Board of Directors held on
July 11, 2007 and published in the Material Fact of July 12, 2007.
São Paulo, July 27, 2007.
Luis Largman
Investor Relations Officer