CALL NOTICE
ANNUAL SHAREHOLDERS’ MEETING

The shareholders of Anhanguera Educacional Participações S.A. ("Company") are hereby invited to attend the Annual Shareholders’ Meeting to be held on April 30, 2012, at 10:00 a.m., at the Company’s head offices located at Alameda Maria Tereza, 4266, suite 06, in the city of Valinhos, state of São Paulo, in order to:

(i) approve the management accounts, examine, discuss and vote on the Company’s financial statements for the fiscal year ended December 31, 2011, including the Independent Auditor’s Report;

(ii) decide on the proposal for the 2012 capital budget, the allocation of annual net income and payment of dividends;

(iii) replace Marco Antonio Gregori from the position of member of the Company’s Board of Directors and to resolve on the election of his replacement in accordance with the Company’s Board of Directors proposal;

(iv) set the total annual compensation of the Company’s management for the fiscal year 2012, as well as to ratify the total annual compensation of the Company’s management for the fiscal year 2011; and

(v) install the Company’s Fiscal Council, elect its members and fix its total annual compensation.

Clarifications:

Pursuant to paragraph 1 of Article 126 of Law 6,404/76, shareholders may be represented by proxy, subject to legal restrictions, and must deliver the following documents to the Company’s head office, up to 48 (forty-eight) hours before the Meeting, as appropriate: (i) a statement of ownership issued by the depositary institution within the previous five (5) days; (ii) a power of attorney with the grantor’s signature duly notarized; and (iii) in the case of shareholders whose shares are held in custody, a statement of shareholdings issued by the custodial entity.

In accordance with Article 1 of CVM Instruction 165/91, as amended by CVM Instruction 282/98, the minimum percentage of voting capital required to request a multiple vote for the election of members of the Board of Directors is 5% (five percent). Said request should be filed at least 48 (forty-eight) hours prior to the Meeting.

Copies of the documents related to the items on the Agenda, including those required by CVM Instruction 481/2009, are available to shareholders at the Company‘s head offices and on the Company’s Investor Relations website (www.anhanguera.com/ir), as well as on the websites of the Securities and Exchange Commission of Brazil (CVM) (www.cvm.gov.br) and BM&FBOVESPA - Securities, Commodities and Futures exchange (www.bmfbovespa.com.br).