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Notice to the Market

Recife, October 9, 2014 - Ser Educacional S.A ("Company" or "Ser Educacional") in continuation of its Notice to the Market of January 20, 2014, hereby announces to its shareholders and the market in general the completion of the appraisal report of the assets acquired through the acquisition of Associação de Ensino Superior Anglo Líder, the sponsoring institution of Faculdade Anglo Líder - FAL ("Acquisition").

The appraisal report determined that the Acquisition of Faculdade Anglo Líder does not constitute a material investment by the Company, under the terms of section I of Article 256 of Law 6.404/76, of December 15, 1976, as amended ("Brazilian Corporation Law"); and that the average price of each share does not exceed one and a half times the amounts indicated in section II of Article 256 of the Brazilian Corporation Law.

As such, the Company hereby announces that:

(i) the Acquisition of Faculdade Anglo Líder will not be submitted for ratification by the Company’s shareholders at a shareholders’ meeting; and
(ii) in view of the provisions of paragraph 2 of Article 256 of the Brazilian Corporation Law and the amounts stated in the appraisal report, withdrawal rights will not be granted by the Company as a result of the Acquisition.

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IR Contact:

Natasha Nakagawa
Investor Relations Officer
Phone.: +55 (11) 2769 3223
E-mail: ri@sereducacional.com
Website: www.sereducacional.com/ir