NOTICE TO THE MARKET

São Paulo, September 01, 2014 - Banco Pan S.A. (BPAN4) ("Pan" or "Company"), in compliance with CVM Rule 358/02 and in addition to the information provided on August 14, 2014, informs its shareholders and the market that the Brazilian Central Bank approved on August 29, 2014, the Capital Increase in Common and Preferred Shares ratified on August 14, 2014 by the Company's Board of Directors. Therefore, the Company's capital stock is now composed as follows:

Capital Stock
Common Shares 535,029,747
Preferred Shares 394,010,416
Total Shares 929,040,163
Total (R$) R$3,460,731,882.92

The subscription receipts for common and preferred shares will be converted into shares on September 05, 2014.

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