You are here: Los Angeles Business and Finance

Business News

Estacio: Shares Start Trading on Novo Mercado

Distributed by Press Release

RIO DE JANEIRO, Brazil (Map) - RIO DE JANEIRO, Brazil, July 11 /PRNewswire-FirstCall/ -- Estacio Participacoes S.A. (BOVESPA: ESTC3) announces to shareholders and the market that as of today its stock will trade under the ticker ESTC3 on the Novo Mercado, the special segment of the Bovespa with the highest corporate governance standards in Brazil.

To meet the special requirements of the Novo Mercado, the Company amended its Bylaws in several items, including the conversion of all its shares into common shares with voting rights. Other recent initiatives were the settlement of a permanent Fiscal Council, which will monitor the Company's accounts and revise its financial statements, and the implementation of a stock option program for the Company's executives.

"Migration to the Novo Mercado represents another important step in the turnaround process carried out over the past few years and shows the Company's commitment to the best corporate governance practices," said Mr. Joao Rosas, Estacio's CEO.

    Investor Relations
    Carlos Lacerda
    Tel: + 55 (21) 2433 9789
    Fernando Santino
    Tel: +55 (21) 2433 9790
    Matheus Guimaraes
    Tel: +55 (21) 2433 9791
    ri@estacioparticipacoes.com
    http://www.estacioparticipacoes.com/ir

About Estacio Participacoes

Estacio Participacoes S.A. (BOVESPA: ESTC3), the largest private post-secondary education institution in Brazil in number of students, has approximately 198,000 undergraduate students enrolled in its programs (March 2008) and reported a net revenue of R$238 million in the first quarter of 2008.

pr