Fleury : Announcement to the Market: Clarification

Fleury S.A. ("Company"), received, on March 13th, 2014, the Ofício GAE ("Official Letter")
00562-14, issued by BM&FBOVESPA through which the Company is requested to present clarification on the content of the news published in Valor Econômico newspaper, edition of
03.13.2014, under the title " Fleury Gávea and I", which states, among other information, that the transaction is estimated at R$ 1.5 billion.
In this regard, the Company has asked clarification about the content of such news to its indirect controlling shareholder, Core Participações SA ("Core"). Core answered that, in addition to the information sent to the Company and disclosed in the Material Fact on
03.12.2014, there is no definition on the terms and conditions of a potential transaction, nor a definition on the realization of such a transaction.
Transcribed below, fully and in free translation, the Official Letter and the correspondences. The Company will inform the market if notified of any material fact on this matter, in accordance with the laws and regulations in place.
São Paulo, March 14th, 2013.
João Ricardo Kalil Patah Head of IR FLEURY S.A.

GAE 0562-14

March 13, 2014

Fleury S.A.

Investors Relations Department

Mr. João Ricardo Kalil Patah

Dear all,

According to the Material fact sent on 03.12.2014, this company was informed by Core Participações SA, its indirect controlling shareholder, that Core started negotiations on an exclusive basis aiming the potential sale of all of its direct and indirect shareholding in the Company with Gávea Investimentos Ltda., manager of third party funds.

The news published in the newspaper Valor Econômico, edition of 03.13.2014, states that this transaction is estimated at R$ 1.5 billion.

We request clarification, until 03.14.2014, on the content of the such news, and other informations deemed relevant.

This request is part of the scope of the Cooperation Agreement, signed by CVM and BM&FBOVESPA on

12.13.2011, and its non-compliance may result to the Company financial penalties applied by the Corporate

Relations Superintendence, according to the CVM Instruction No. 452/07. Sincerely,

Nelson Barroso Ortega

Companies Monitoring Department

Gerência de Acompanhamento de Empresas

BM&FBOVESPA S.A. Bolsa de Valores, Mercadorias e Futuros

To
Core Participações S.A.
At. Sr. Marcos Bosi e Sr. Adagmar Andriolo
Dear Sirs,
We are referring to the news published on the newspaper Valor Econômico, edition of March 13,
2014, and the Official Letter (Ofício GAE 0562-14) issued by BM&FBovespa, on the same date. The Official Letter requests clarification on the statement, by the newspaper, that the deal price is estimated at R$ billion, as well as other information considered important"
In this context, we hereby ask clarifications to attend the Official Letter up to 03/14/2014, in a
Notice to the Market.
Sincerely,
João Ricardo K. Patah
Head of IR Fleury S.A.

São Paulo, March 13th, 2014
To
FLEURY S.A. Att.: Head of IR
Mr. João Ricardo Kalil Patah
C/c: CEO of Fleury S.A.
Mrs. Vivien Bouzan Gomes Navarro Rosso
Dear Sirs,
We are referring to the correspondence received from Fleury SA ("Company"), regarding the Ofício GAE (Official Letter) 0562-14 issued by BM&FBovespa, in which it is requested clarification on information published on the newspaper Valor Econômico, edition of 03.13.2014, title "Fleury and Gávea I", stating that, among other information, the deal price is estimated at R$ 1.5 billion.
In this context, we hereby announce that, in addition to the information sent to the Company and shared with the market through the Material Fact dated yesterday, currently there is no definition on terms and conditions of a possible deal, no on the completion or not of a potential transaction.
Core reinforces its commitment to promptly inform the Company the existence of any material fact concerning the subject matter hereof, according to the legislation and regulation in force.
Sincerely,
Core Participações S.A.

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