NOTICE TO THE MARKET

São Paulo, Brasil, September 28, 2015 - Marisa Lojas S.A. (BM&FBovespa: AMAR3; Bloomberg: AMAR3:BZ), Brazil's largest chain specialized in women's fashion, hereby announces that it has discontinued its Direct Sales operation as of today. This measure is intended to concentrate the Company's efforts in more mature businesses and reduce initiatives that require additional efforts due to the higher level of uncertainty and the deterioration of the current economic scenario.

'We started this initiative in 2012, not only because of this operation's profitability and sales potential, but also due to the penetration and brand promotion it provided. However, the rapid deterioration of the consumption environment caused the project's returns to become too long. It is important to focus on the pursuit of efficiency in the Company's more mature operations and to expand our capacity to generate cash', said Adalberto Santos, Marisa Lojas' CFO.

'The unprecedented economic crisis faced by the country was a decisive factor to discontinue Marisa Lojas' Direct Sales operation', added Marcio Goldfarb, the Company's CEO.

To access the Notice to the Market, click here.

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