- Gafisa Partners with a Leading Financial Institution to Launch "Blueprint Mortgage" - SAO PAULO, Brazil, July 2 /PRNewswire-FirstCall/ -- Gafisa S.A. (Bovespa: GFSA3; NYSE: GFA), one of Brazil's leading diversified national homebuilders, today announced the launch of an innovative mortgage product, "Blueprint Mortgage." This new financial product allows buyers to finance the 10% initial down payment as well as lock-in a twenty-five year bank mortgage on the remaining 90% purchase price of a new home prior to construction. Home buyers without an established credit history will be able to qualify by paying monthly installments on a timely basis. On top of that, home buyers will receive their units 6 to 10 months ahead of the regular schedule, bringing important savings in rent and increased quality of life. This new product will offer consumers a favorable rate with a long-term repayment option while reducing working capital requirements for Gafisa and providing the bank with a strong pipeline of new mortgage opportunities. With Blueprint Mortgage, Gafisa will provide a financial vehicle which will better meet the needs of the industry. As part of this program, Gafisa will receive a relevant part of the mortgage proceeds from the bank prior to construction. As a result, Gafisa will minimize its cash exposure for these projects and not have to carry receivables after delivery of units which will lead to shorter product cycles. "We are pleased to be at the forefront of the introduction of this new mortgage product to the Brazilian market," commented Mr. Wilson Amaral, CEO of Gafisa. "As we continued to aggressively grow our business, it became apparent to us that we needed to work closely with the banking industry to increase mortgage penetration and address potential working capital issues. Blueprint Mortgage changes the model for home ownership in Brazil. We expect this innovation in mortgage financing will be well received by our customers while helping us to lower our cash exposure and provide better returns." Gafisa will host conference calls to discuss Blueprint Mortgage. Call in English: July 3rd, 2007, at 9:00 am (NY time) or 10:00 am (Brasilia time) Tel: +1 973 935-8893 Replay: +1 973 341-3080 Code: 8982394 Call in Portuguese: July 3rd, 2007, at 8:00 am (NY time) or 9:00 am (Brasilia time) Tel: (55 11) 2101-4848 Replay: (55 11) 2101 4848 Code: Gafisa A live webcast of the conference call and further information on Blueprint Mortgage will be available on the internet at http://www.gafisa.com.br/ir. For further information please contact the IR department. Carlos Gros Investor Relations Tel: +55 11 3025-9305 Fax:+55 11 3025-9217 DATASOURCE: Gafisa S.A. CONTACT: Carlos Gros, Investor Relations, Gafisa, +011-55-11-3025-9305, fax, +011-55-11-3025-9217, Web site: http://www.gafisa.com.br/

Copyright