f7ea5cbf-f81b-4845-8803-4095e8741962.pdf NOTICE TO THE MARKET

Rio de Janeiro, May 6, 2016 - ALIANSCE SHOPPING CENTERS S.A., a publicly-held company headquartered at Rua Dias Ferreira No. 190, 3rd floor, in the city and state of Rio de Janeiro, inscribed in the corporate roll of taxpayers (CNPJ/MF) under No. 06.082.980/0001-03 ("Company"), pursuant to CVM Instruction 358 of January 3, 2002, as amended, hereby announces that it received from GIC Private Limited, with headquarters at 168 Robinson Road # 37-01 - Capital Tower, Singapore, ("GIC"), the attached letter, with the following information:

  1. GIC decreased the number of Company common shares held and fell below the threshold of 15% of the total capital, reaching 24.397.425 (twenty-four million, three hundred and ninety-seven thousand, four hundred and twenty-five) common shares, equivalent to 14,992% (fourteen point nine hundred and ninety two per cent) of total common shares issued by the Company;

  2. The ownership interest in the Company is for investment purposes only, and does not intend to change the ownership control or management structure of the Company;

  3. GIC (i) does not hold, directly or indirectly, a subscription bonus, subscription rights, stock options, and debentures convertible into Company common shares; and (ii) has not established any contract or agreement governing the exercise of voting rights or sale of securities issued by the Company.

For more information, please contact the Investor Relations department:

INVESTOR RELATIONS

Telephone: +55 (21) 2176-7272 ri@aliansce.com.br www.aliansce.com.br/ri

About Aliansce S.A.:

Aliansce Shopping Centers S.A. (Bovespa: ALSC3) is a leading mall developer and manages the second-highest number of malls in Brazil among the sector's publicly traded companies. Aliansce's core business is investing in shopping malls and providing the following services: (i) management of shopping malls; (ii) commercialization of shopping malls; and (iii) planning and development of shopping malls. Aliansce is a full service company with expertise in every phase of the mall installation process, from the project's planning and development and the mall's launch, to management of the structural, financial, commercial, legal and operational aspects.

I

5 May 2016

Attn:

Eduardo Prado

Investor Relations Director Aliansce Shopping Centers S.A.

R Dias Ferreira 190 - 3 Andar - Sala 301 22431050 Rio de Janeiro RJ

Brazil

Dear Sir,

OFFICIAL DECLARATI ON - POSITION I N AUANSCE SHOPPING CENTERS S.A. SHARES

Pursuant to Article 12 of CVM Instruction no. 358, we are required to notify Aliansce Shopping Centers S.A. that our holdings in Aliansce Shopping Centers S.A. Shares (ISIN: BRALSCACNORO) have fallen below the 15% disclosure limit as of 04 May 2016 The table beIow .ind',cates the deta,·1s of our h0Id'lnQS:

Passenger Ace Name

Qualification

Tax ID

Holdings

%

Holdings*

Shares/Right to receive shares

Government of Singapore

Legal entity constituted outside Brazil

08.765.815/0001-73

24,397,425

14.992%

Total Holdings

24,397,425

14.992%

Legal Representative

Full name: Citibank Distribuidora De Titulos E Valores Mobiliarios S.A. Tax ID: 33.868.597/0001-40

* Based on number of shares of 162,735,921

Other than the shareholding detailed above, we do not hold, directly or indirectly, any other shares, rights over shares, other securities, and financial derivative instruments referenced to shares on Aliansce Shopping Centers S.A. at the time of writing.

Please be informed that our interest in Aliansce Shopping Centers S.A. extends only as far as maintaining a diversified trading portfolio. As such, we have no interest in altering the composition of the control or administrative structures of Aliansce Shopping Centers S.A.

GIC Private Limited

168 Robinson Road #37-01 Capital Tower Singapore 06891 2 Tel: (65) 6889 8888

Company Registration No., 198102265N

Furthermore, at the time of writing, we are not a party to any agreement or contract regulating the right to vote or purchase and sell securities issued by Aliansce Shopping Centers S.A.

Finally, we would be grateful if you would forward this declaration to the Comissao de Va/ores Mobi/iarios, Bovespa.

Please do not hesitate to contact Mr Jimmy Teo at 65-68898787 or GrplODSubshare@gic.com.sg should you require any further information or clarification.

Thank you for your kind attention.

Yours faithfully,

Jimmy Teo Poh Leong Senior Vice President

Investment Operations Department

Lim Eng Kok

Senior Vice President

Investment Operations Department

Aliansce Shopping Centers SA published this content on 06 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 May 2016 21:47:04 UTC.