NOTICE TO THE MARKET

Curitiba, Brazil, January 14, 2014 - ALL - AMÉRICA LATINA LOGÍSTICA S.A. ("Company"), in accordance with Official Letter GAE 0072-14 of January 14, 2014, which asks for:

"(...) clarifications on the content of the article published in the newspaper Folha de São Paulo, edition of January 14, 2014, entitled "All railway wants R$10 billion to strengthen strategic stretch", which states, among other information, that All (América Latina Logística) estimates that investments of more than R$10 billion are necessary for the line between Estrela d'Oeste and Campinas, an amount that is considered "additional" and, therefore it would not be included in the obligations imposed by the concession agreement with the government".

The Company hereby clarifies and reiterates, as already reported through the material fact published on August 7, 2013 and the notice to the market published on September 3, 2013, that the Company remains open to negotiating with the government new designs for its concessions that will meet public interests, always maintaining financial equivalence, and which promote increase productivity for the networks operated by Company.

The negotiations under discussion with the government may or may not result in different operational designs from the current, as in new investments in strategic stretches of the railway, and it is not possible, at the present time, to anticipate the results of these negotiations.

Regardless of the progress of these negotiations, the Company's business plan remains unaltered, with investments focused on the expansion of transported volume and productivity gains.

The Company will keep its shareholders and the market in general informed of any developments associated with the subject of this announcement.

Click here for the Notice to the Market.

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