Estacio

NOTICE TO SHAREHOLDERS
Payment of Dividends

A Estácio Participações S.A. (Bovespa: ESTC3; Bloomberg ESTC3:BZ) corrects the information on price per share related to the payment of dividends approved at the Annual General Meeting held on April 19, 2011 at 10:00 a.m., as follows:

I - Amount: The amount of dividend distributed for the fiscal year ended December 31, 2010, is thirty-eight million, three hundred thirteen thousand, three hundred eighty-four reais and eighteen centavos (R$38,313,384.18), equivalent to R$0.46736 per common share.

II - Ex-Dividend Date: The Company’s stock will trade ex-dividend as of April 20, 2011.

III - Payment Date: The dividend will be paid as of May 6, 2011.

Rio de Janeiro, April 27, 2011.

Rogerio Frota Melzi
Investor Relations Officer

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