SAO PAULO, Brazil, Sept. 5 /PRNewswire-FirstCall/ -- Gafisa S.A. (Bovespa: GFSA3; NYSE: GFA), one of Brazil's leading diversified national homebuilders, today announced that it has joined the Bovespa Index (Ibovespa), the main indicator of the Brazilian stock market's average performance and the IBrX50, an index measuring the total return on a theoretical portfolio composed of 50 stocks selected among BOVESPA's most actively traded securities. Membership for the Ibovespa and IBrX50 indexes is determined by an objective method based on trading volume and financial value. The Bovespa Index is the main indicator of the Brazilian stock market's average performance. The stocks included in the index represent more than 80% of the number of trades and the financial value registered on the BOVESPA's cash market (round lot), as well as approximately 70% of the sum of all BOVESPA's listed companies' capitalization. Gafisa's weighting in the Ibovespa index will be 0.66%, occupying the 48th position in the portfolio. The Ibovespa index was rebalanced on September 3, 2007 and is rebalanced every four-month period. IBrX50 is an index which measures the total return on a theoretical portfolio composed of 50 stocks selected from BOVESPA's most actively traded securities in terms of liquidity, weighted according to the outstanding shares' market value. The Company's weight in the IBrX50 index will be of 0.38%, occupying the 46th position in the portfolio. The IBrX50 index was rebalanced on September 3, 2007 and is rebalanced every four-month period. The Ibovespa and IbrX50 indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. About Gafisa Gafisa is one of Brazil's leading homebuilding companies, focusing on residential markets. Over the last 50 years, we have completed and sold more than 900 developments and constructed nearly 37 million square meters, believed to be more than any other residential development company in Brazil. Gafisa is one of the best-known brands in the real estate development market, enjoying a reputation among potential homebuyers, brokers, lenders, landowners and competitors for quality, consistency and professionalism. For additional information: Investor Relations Carlos Gros Phone: +55 11 3025-9305 Fax: +55 11 3025-9217 E-mail: Website: http://www.gafisa.com.br/ir Media Relations (US - Europe) Megan Hakes Reputation Partners Phone: +011 312 222-9299 Fax: +011 312 222-9299 E-mail: Media Relations (Brazil) Joana Santos Maquina da Noticia Phone: +55 11 3147-7900 Fax: +55 11 3147-7900 E-mail: DATASOURCE: Gafisa S.A. CONTACT: Carlos Gros, Investor Relations, Gafisa, +011-55-11-3025-9305, fax, +011-55-11-3025-9217, ; Media Relations, US & Europe, Megan Hakes, Reputation Partners, +1-312-222-9299, fax, +1-312-222-9299, , for Gafisa; Media Relations, Brazil, Joana Santos, Maquina da Noticia, +011-55-11-3147-7900, fax, +011-55-11-3147-7900, , for Gafisa Web site: http://www.gafisa.com.br/

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