Valinhos, April 1, 2012 - Anhanguera Educacional Participações S.A. (BM&FBOVESPA: AEDU3; Bloomberg: AEDU3:BZ) announces its results for the fourth quarter of 2011 (4Q11). The Company‘s operating and financial data are presented on a consolidated basis and in Brazilian reais, in accordance with International Financial Reporting standards (“IFRS”), except where stated otherwise. The information contained here is related to the Company’s performance in the fourth quarter of 2011 compared to the fourth quarter of 2011 (4Q11), except where stated otherwise.

Highlights

• Consolidation of national sector leadership with over 400 thousand enrollments;
• Gross margin expansion of 3.4 p.p. (x-M&A), with 5.1 p.p. on same campuses;
• Significant improvement in Accounts Receivable: Reduction of 43.1% in cash consumption and of 8 days of working capital (x-Fies);
• PDA covers 100% of past due receivables older than 180 days;
• Robust FIES growth: 23.5 thousand students in 4Q11 (+91% vs 3Q11) and 35.2 thousand students in 1Q12 (+50% vs 4Q11);
• Largest recruiting cyclen of Brazil in 1Q12: with a record 146 new students (+46% vs 1Q11), up 52% in Campus (20% same stores) and up 40% in undergraduate distance learning programs at Learning Centers.

To access the full Earnings Release, click here.

4Q11 Results Conference Call