GID Investment Advisers LLC Cross-Border Partnership Aims to Set New Standard of Excellence in Brazilian Real Estate Market

July 31, 2011, São Paulo, SP, Brazil and Boston, MA, U.S.A. - Brazil-based OAS Empreendimentos S.A. ("OAS"), and Boston-based GID Investment Advisers LLC ("GID") have formed a new joint venture partnership to provide real estate development, construction and acquisition services in connection with real estate investments to be made throughout Brazil, with a core focus on for-sale multifamily residential projects. The partnership, OAS-GID Brazil Consultoria E Servicos Ltda., or OAS-GID Brazil Investment Advisers, will focus on providing investment management services to Brazilian, U.S. and other foreign institutional and high net worth investors, and includes an initial investment to develop approximately 1,000 units in Brasilia and São Paulo.

The new partnership will target core Brazilian markets that historically have been profitable for new development and which demonstrate supply/demand voids, strong employment characteristics and qualified household and population growth.

"OAS is entering a new paradigm in its long history as a real estate developer and investor in Brazil. Doing so with GID, a best-in-breed, vertically integrated U.S. real estate operating company and institutional investment manager, demonstrates our commitment to excellence in establishing a leading investment management operation in Brazil” said Carmine De Siervi, President/Director of OAS.

"GID is looking forward to a very successful investment management and co-investment partnership with OAS, a company with great breadth and depth of experience, a long track record of success and highly talented personnel,” said Robert DeWitt, Vice Chairman, President and CEO of GID. "The shared corporate values, residential product focus and investment approaches between our firms evoke a very high level of confidence in OAS and in the future success of our venture."

"The OAS and GID venture combines the best of both worlds – OAS’ successful Brazil track record and proven local project operating capability with GID’s U.S. institutional fiduciary best practices", comments Kenneth Munkacy, Senior Managing Director of GID International Group. "Both OAS and GID feel there will be many compelling investment opportunities in the Brazil residential sector, and that the key to success will be project execution. We look forward to growing a scalable and sustainable investment management platform that will attract Brazilian, U.S. and other international institutional investors in the next cycle."

Both OAS' and GID’s management platforms boast proven strategies that have historically delivered strong returns to investors; their new venture already has a robust multi-city pipeline of new development opportunities. To date, they have jointly invested in approximately 500,000 square feet of for-sale residential units.

About OAS Empreendimentos:
OAS is the wholly-owned real estate development affiliate of Grupo OAS, one Brazil’s largest construction companies; the privately held 35-year old vertically integrated firm has developed over 40,000 residential units throughout Brazil. OAS is a long-standing partner of Caixa Economica Federal and is regarded as a leading builder of moderate and middle income for-sale multifamily projects in Brazil. OAS has offices in Salvador, Brasilia, São Paulo, Porto Alegre and Rio de Janeiro. The company has approximately 300 employees.

About GID Investment Advisers LLC:
GID Investment Advisers LLC is a 50-year old privately held and vertically integrated international real estate investor, developer, property operator and investment manager. The firm directly or indirectly with its institutional partners owns and manages over $6.3 billion of assets, including approximately 25,000 residential units in the U.S., Brazil and India and 10 million square feet of commercial space in the U.S. GID has a number of institutional partnerships, including its national core/core plus partnership with CalPERS where it currently serves as its sole multifamily residential investment manager. GID is headquartered in Boston, MA, and has operations in 19 states, Brazil and several portfolio investments in India. In 2006, GID Investment Advisers LLC formed GID International Group to expand its investment portfolio to capitalize on high growth residential sectors in emerging markets, including Brazil and India. GID International has focused on middle class housing and structured finance products.

In Brazil, GID has co-investments with OAS in middle income housing. In India, GID is an investor in Piedmont Development Company, which has over 5,500 for-sale units under development.

For additional information please contact:

Damon Sean Pitler
Director, Investments
OAS Empreendimentos S.A.
Av. Angélica, 2248 - 81 andar – Consolação
São Paulo, SP CEP 01228-200
Brasil
+011 55 (11) 2898-9078
damon.pitler@oas.com
www.oasempreendimentos.com

Kenneth A. Munkacy
Senior Managing Director, GID International Group
GID Investment Advisers LLC
125 High Street – 27th Floor
Boston, MA 02110
U.S.A.
1 (617) 854-9164
kmunkacy@gid.com
www.gid.com