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FOR IMMEDIATE RELEASE

Gafisa S.A. Appointments Andre Bergstein as

Chief Financial Officer and Investor Relations Officer

São Paulo, March 13, 2012 - Gafisa S.A. (Bovespa: GFSA3; NYSE: GFA), Brazil’s leading diversified national homebuilder, today announced the appointment of Andre Bergstein as Chief Financial Officer and Investor Relations Officer. Mr. Bergstein will report to Duilio Alceu Calciolari, Chief Executive Officer.

“We are pleased to have Andre Bergstein join our senior leadership team to help drive our value-creation strategy and achieve our key objectives,” commented Mr. Calciolari. “I am confident Andre’s depth of experience and knowledge of the Brazilian real estate market will be invaluable.”

Andre Bergstein brings 20 years of experience in the financial and real estate markets to Gafisa. Most recently, he was part of the Real Estate team at Plural Capital, an investment management and financial advisory services firm based in São Paulo. From 2005 through 2010, he served at Brazilian Finance & Real Estate (BFRE) as CFO and IRO for the holding company, and as CFO of Brazilian Securities, where he led several structured operations of CRI´s (MBS – mortgage backed securities) and FII´s (real estate investment funds) and was active in M&A deals for BFRE. Mr. Bergstein began his career as financial analyst at the Icatu Bank Holding in 1993, where he tracked diverse investments in the Group. Between 1998 and 2005, he was CFO at Atlântica Residencial, a homebuilder focused on residential projects aimed at middle and low income groups, with presence of local and foreign shareholders.

Mr. Bergstein stated, “I am excited to join the management team at Gafisa. Gafisa is a strong, well respected leader in the Brazilian homebuilding market and I look forward to working with Duilio and the team and contributing to the Company’s future.” 

Andre Bergstein, age 41, graduated from Pontifícia Universidade Católica PUC-RJ as an electrical engineer in 1993. He holds an MBA from IBMEC Rio de Janeiro.

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São Paulo, March 13, 2012

Gafisa S.A.

Alceu Duilio Calciolari

Chief of Executive Officer