MATERIAL FACT

Aliansce Shopping Centers (ALSC3)

CNPJ/MF N. 06.082.980/0001-03
NIRE N 33.3.0028176-2
Aliansce Shopping Centers S.A. (Bovespa: ALSC3), pursuant to the Instruction No. 358, enacted by the Brazilian Securities
and Exchange Commission ("CVM"), on January 3, 2002, would like to inform the shareholders and the market that the Board
of Directors' Meeting held on April 2, 2012, approved the issuance of promissory notes (PNs), amounting to
R$500,000,000.00 (five hundred million reais).

The PNs will have a maturity of 210 (two hundred and ten) days from the date of issuance. The PNs have an interest cost
corresponding to 100% (one hundred percent) of CDI, plus 1.40% per annum, that will be paid at redemption. The PNs have
a firm guarantee of placement by Bradesco. The proceeds from this financing will be used to settle payment of the
acquisition of Pargim portfolio and will be taken-out at the conclusion of the long-term loan that is being structured by Banco
Bradesco, as announced on January 9, 2012. Aliansce also has a firm guarantee for the take-out of the PNs at their
redemption.

This Fact is being published by the Company solely in accordance with CVM Instruction No. 358/2002 and paragraph 4 of
article 157 of Law 6,404 of December 15, 1976, as amended, so it is merely informative and should not be construed or
deemed for any legal purposes as a material sale or disclosure of the PNs.

For further information, please contact the Investor Relations Department:

INVESTOR RELATIONS
Phone: +55 (21) 2176-7272
ri@aliansce.com.br
www.aliansce.com.br/ri

About Aliansce S.A.

Aliansce Shopping Centers S.A. (Bovespa: ALSC3) is one of the leading shopping center developers and manages the second
largest number of shopping centers in Brazil among the four publicly held companies in the sector. The Company's core
business includes investments in shopping centers and provision of the following services: (i) management of shopping
centers; (ii) lease of commercial spaces in shopping centers; and (iii) planning and development of shopping centers. Aliansce
is a full service company operating in all development stages of a shopping center, from planning and preparation of the
feasibility study, development of the project, commercialization and management of the shopping center.