NOTICE TO SHAREHOLDERS

ANHANGUERA EDUCACIONAL PARTICIPAÇÕES S.A. ("Company"), informs its Shareholders that, at the Company's Annual General Meeting ("AGM") held on April 28, 2014, as per the Management proposal, the shareholders approved the payment of mandatory dividends, subject to the conditions below:

1. Holders of the Company's shares on April 28, 2014, date when the dividends were approved by the AGM, will be entitled to receive said dividends.

2. Total dividend amount: R$1,191,489.23 (one million, one hundred and ninety-one thousand, four hundred and eighty-nine reais and twenty-three centavos), corresponding to R$ 0.00272608 per common share.

3. Payment date: June 27, 2014.

4. The Company's shares will be traded ex-dividend rights as of and including April 29, 2014.

5. The credits will be made available to shareholders in accordance with the bank account information provided to Banco Itaú S.A., the depositary agent of the shares issued by the Company, as of the date when the dividends are paid.

6. For shareholders whose records do not include an individual (CPF/MF) or corporate (CNPJ/MF) taxpayer number or complete information on the bank, branch and account for deposit, the respective amounts will only be credited on the third business day after the date on which their records are effectively updated in the database of Banco Itaú S.A., which can be done through any branch of Banco Itaú SA network, or by email addressed to investfone.investimento@itau-unibanco.com.br.

7. For shareholders with shares held in custody at the BM&FBOVESPA - Securities, Commodities and Futures Exchange, the respective dividend amounts will be credited to the BM&FBOVESPA, which will transfer them to shareholders through the respective Custody Agents.

Valinhos, June 10, 2014.

About Anhanguera Educacional Participações S.A.
Anhanguera Educacional Participações S.A. is one of the largest private for-profit education institutions in Brazil, with over 670 locations in all Brazilian states and the Federal District, offering more than 90 undergraduate and associate degree programs in the fields of business administration, law, engineering, health and other applied social sciences, as well as graduate and extension programs. The majority of its students are young adults from the middle and lower middle income segments who work during the day and study at night, a segment not fully served by education institutions in Brazil. The Company is committed to offering high-quality education to help these young workers attain the educational qualifications required by the labor market and improve their prospects for career development. Anhanguera Educacional is listed on the Novo Mercado special corporate governance segment of the BM&FBovespa S.A. - Securities, Commodities and Futures Exchange and trades under the symbol "AEDU3".

For further information, please contact the Investor Relations Department:
Vitor Pini - Investor Relations Officer

Phone: +55 (19) 3517-3799 | 3771
E-mail: dri@anhanguera.com
www.anhanguera.com/ir

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