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Ser Educacional Joins PROUNI Recife Program

The City of Recife grants full scholarships for students of on-campus undergraduate courses and sequential education courses for specific training

Recife, July 29, 2015 - Ser Educacional S.A. (BM&FBOVESPA SEER3, Bloomberg SEER3:BZ and Reuters SEER3.SA), one of Brazil‘s largest private education groups and the leader in the Northeast and North Regions in terms of numbers of students enrolled, announces that two of its educational institutions, Centro Universitário Maurício de Nassau (UNINASSAU) and Faculdade Joaquim Nabuco (FJN), were approved by Recife‘s Municipal Government to participate in the University for All Program from Recife (PROUNI Recife).

According to Municipal Law 18,113/2015, full scholarships will be granted to Brazilians resident and domiciled in the city of Recife, without higher education degrees. In addition, the university scholarship will be granted to students with financial difficulties who meet all the following requirements: (i) have completed high school education at a public school or a private institution with full scholarship, (ii) have completed the National Secondary Education Exam - ENEM; (iii) monthly family income does not exceed 2 (two) minimum wages; (iv) have proof of residence in the city of Recife for at least three years and (v) do not have a degree or are enrolled in a higher education course.

According to Jânyo Diniz, Grupo Ser Educacional‘s CEO, "the partnership between municipalities and educational institutions will be significant to increase access to higher education in Brazil. Our adherence to PROUNI Recife is the result of an important initiative of the municipal government and, with over 30,000 students in the city, Ser Educacional will certainly contribute to it."

Due to the accession to PROUNI Recife, the Centro Universitário Maurício de Nassau (UNINASSAU) and the Faculdade Joaquim Nabuco (FJN) will offer full university education scholarships to PROUNI Recife corresponding to: (i) 0.75% of regularly paying students in the previous academic year in their undergraduate or sequential educational courses for specific training, in the first year, (ii) 1.50% in the second year (iii) 2.25% in the third year and (iv) 3.0% in the fourth and following years upon accession to PROUNI Recife.

In return for the vacancies offered to the program, the institutions will receive a tax incentive which will represent a reduction in the Tax on Services of Any Nature (ISSQN) rate, from the current 5.0% to: (i) 4.25% in the first year upon accession, (ii) 3.50% in the second year, (iii) 2.75% in the third year and (iv) 2.0% in the fourth and the following years upon accession to PROUNI.

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