Company Profile For Gafisa S.A.

Gafisa SA (Gafisa) is a Brazil-based company engaged in homebuilding and real estate operations. Its core business is the development of residential buildings. It is also engaged in the development of land subdivisions, also known as residential communities, and entry-level housing. In addition, it provides construction services to third parties. Gafisa is present in 18 states and 40 cities and works on all residential segments together with its extensions: Alphaville Urbanismo SA, Fit Residencial Empreendimentos Imobiliarios Ltda and Bairro Novo Empreendimentos Imobiliarios SA. Gafisa also owns such subsidiaries as Cipesa Holding, Gafisa SPE 22 Ltda and Res. das Palmeiras SPE Ltda, among others. During the year ended December 31, 2008, the Company acquired Tenda.

BRIEF: For the nine months ended 30 September 2009, Gafisa SA's total revenue increased 78% to R$2.12B. Net income for the period increased 63% R$158.2M. Total revenue reflects an improved performance across the Company's activities due to favorable market conditions. Net income for the period was partially offset by a significant increase in financial expenses as well as by higher other operating and payroll expenses.