NOTICE TO THE MARKET

Update on Investigation into Cnova Brazil Inventory Management and Other Topics

São Paulo, January 12, 2016 - Companhia Brasileira de Distribuição ('CBD') hereby discloses the press release issued by Cnova N.V. ('Cnova') in complement to the notice to the market released on December 18th, 2015 on the review of issues related to inventory management of its Brazilian subsidiary Cnova Comércio Eletrônico S.A.

To access the Notice to the Market in PDF format, click here.

CBD - Companhia Brasileira de Distribuição issued this content on 2016-01-12 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-12 11:14:08 UTC

Original Document: http://www.gpari.com.br/conteudo_en.asp?idioma=1&tipo=30414&conta=44&id=220535