NOTICE TO SHAREHOLDERS CR2 EMPREENDIMENTOS IMOBILIÁRIOS S/A Public Company - CVM n.0 2063-0 CNPJ Nº 07.820.907/0001-46 - NIRE N° 33 3 0027764-1 - ISIN Code nº BRCRDEACNOR1 Avenida Borges de Medeiros, n 633, salas 603 a 608, Leblon CEP 22430-041 Rio de Janeiro, RJ CR2 Empreendimentos Imobiliários S.A. (BOVESPA: CRDE3; OTC: CREIY), hereby informs that its shareholders approved, in the General Shareholders' Meeting held today, the distribution of dividends of R$ 24,221,531.00 (twenty four million, two hundred twenty one thousand, five hundred thirty one reais), corresponding to R$ 0.50 (fifty cents) per common share. This amount is higher than the minimum defined in the Company's Bylaws. The dividends will be paid in the proportion of the Company's shareholders position, within the fiscal year of 2011, on the conditions to be determined by the Company's Board of Directors. The dividends record date will be May 02, 2011 and the Company's shares will be traded ex-dividends as of May 03, 2011. Rio de Janeiro, April 29, 2011 CR2 Empreendimentos Imobiliários S.A. Rogério Furtado Moreira CFO and Investor Relations Officer