(Equity International) October 1, 2010 – Equity International (EI), the privately held company focused on investing and building world-class companies outside of the United States, announced today the sale of approximately 13.2 million common shares of Gafisa S.A. (Bovespa:GFSA3; NYSE:GFA), a leading national homebuilding company in Brazil, for approximately R$175 million (US$103 million). EI retains an approximate 2.6 percent stake in the Company.

In addition, EI sold approximately 13.1 million shares of BR Malls Participações S.A. (Bovespa:BRML3), the leading retail property company in Brazil, for approximately R$187 million (US$110 million). Following this transaction, EI’s ownership interest in the Company is approximately 2.7 percent.

“Our enthusiasm for Brazil has never been higher and we continue to look at opportunities in both new and existing sectors. We are confident that Gafisa and BR Malls will continue to lead the homebuilding and retail property sectors, among the most vibrant in Brazil,” said Gary Garrabrant, EI’s chief executive officer. “Today’s transactions simply reflect the ongoing execution of EI’s disciplined and proven monetization philosophy.”

Headquartered in São Paulo, Gafisa is one of Brazil’s leading homebuilders distinguished by a diverse portfolio in all major markets and an unparalleled product mix that caters to all income segments. The Company has completed more than 1,000 developments and 11 million square meters of housing across 100 cities throughout Brazil. EI made its original investment in Gafisa in 2005 and a follow-on investment two years ago. During this time, EI helped extend Gafisa’s leadership position, transforming the Company into the first national homebuilder in Brazil. Gafisa has led the consolidation of the homebuilding sector, highlighted by the acquisitions of the pre-eminent community developer Alphaville and publicly held affordable builder Tenda. EI also led the Company’s IPO on Brazil’s Bovespa in 2006 followed by the New York Stock Exchange in 2007, a first for the Brazilian homebuilding sector. Today, Gafisa’s equity market capitalization is US$3.3 billion with US$60 million of daily liquidity.

Headquartered in Rio de Janeiro, BR Malls is the largest retail property company in Brazil and is the most diversified both in terms of geography and coverage of income sectors. The Company is distinguished by its high quality portfolio, significant service business, professional management and efficient operating systems. Since EI’s initial investment in 2006, BR Malls has grown its portfolio from 7 to 37 shopping malls, representing more than 1 million square meters of gross leasable area with 6,000 stores attracting 430 million visitors annually. BR Malls has become the largest owner and operator of retail property in Brazil and, by extension, throughout Latin America.