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ESTCIO PARTICIPAES S.A.

Publicly-held Company

Corporate Taxpayer ID (CNPJ/MF) 08.807.432/0001-10 Company Registry (NIRE) 33.3.0028205 0

NOTICE TO THE MARKET CHANGE OF INDEPENDENT AUDITOR CVM Instruction 308/99

Estcio Participaes S.A. (Estcio or Company), in compliance with the provisions of Article 31 of CVM Instruction 308/99, which determines the rotation of independent auditors every five years, announces to its shareholders and the market in general that the Companys Management hired, as of this date, Independent Auditors PricewaterhouseCoopers ("PWC"). PWC will start its activities reviewing the Quarterly Financial Information (ITR) of the first quarter of 2012 and will conclude with the annual financial statements for fiscal year 2012.

A Ernst & Young Terco Independent Auditors remains as Estcios auditor of the financial statements for the fiscal year 2011.

Rio de Janeiro, March 1, 2012.

Rogrio Frota Melzi Investor Relations Director

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