CYRELA BRAZIL REALTY S/A EMPREENDIMENTOS E PARTICIPAÇÕES
PUBLICLY HELD COMPANY
CNPJ/MF - 73.178.600/0001-18
NIRE - 35.300.137.728
Minutes of the Meeting of the Board of Directors
DATE, TIME AND PLACE: May 10, 2012, at 10.00 a.m., at the company’s head office,
which is located in the city of Sao Paulo, in the State of Sao Paulo, on Avenida Engenheiro
Roberto Zuccolo, 555 – 1st floor, room 1001 – in the Vila Leopoldina district – ZIP code:
05307-190.
NOTICE: notice was waived on account of the fact that all the members of the board of
directors were present.
ATTENDANCE: all the members of the Company’s Board of Directors were present,
namely: Elie Horn, Rogério Jonas Zylberstajn, George Zausner, Rafael Novellino,
Fernando Goldztein, Sérgio Agapito Lires Rial, João Cesar de Queiroz Tourinho and
Vicente Falconi Campos (“Board Members”).
PRESIDING BOARD: Chairman – Rafael Novellino; Secretary – Claudio Carvalho de
Lima.
THE MEETING’S AGENDA: to decide regarding the provision of guarantees to third
parties, for business related to social interests.
DETERMINATIONS: in accordance with the provisions of article 142, sub-paragraph VIII,
of Law 6404/76 unanimously approval was given in relation to the decision to provide
guarantees on behalf of one or more companies in which the Company has a direct or
indirect stake in the capital stock, or in which it jointly participates in the development of
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real estate ventures (“Company” or “Companies”), as long as the granting of the
aforementioned guarantee is a condition for the carrying out of the business, and that the
business to be guaranteed by the Company is related to the Company’s corporate
purpose. The authorization for the granting of these guarantees is valid until 05/02/2014.
All actions that had previously been carried out were ratified, in accordance with what is
set out in these minutes. The decision takes precedence over all other decisions that had
been taken prior to this date. The Board Members authorize the Company’s Executive
Officers to undertake all actions, and to sign all documents that are necessary in order to
comply with the above determination.
CLOSURE: there being no further business to transact, the Chairman declared the
meeting closed. After the present minutes had been written up, read and approved, they
were signed by all the board members present. Signatures: Chair: Elie Horn - Chairman;
Rafael Novellino –Secretary. Board Members: Elie Horn, Rogério Jonas Zylberstajn,
George Zausner, Rafael Novellino, Fernando Goldztein, Sérgio Agapito Lires Rial, João
Cesar de Queiroz Tourinho and Vicente Falconi Campos.
This document is a faithful copy of the original, registered in the company’s books.
RAFAEL NOVELLINO
CLAUDIO CARVALHO DE LIMA
Chairman
Secretary
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