DEPOSIT AGREEMENTDeposit Agreement • May 3rd, 2011 • Citibank,N.A./ADR • Delaware
DEPOSIT AGREEMENT, dated as of __, 2011, by and among (i) ESTÁCIO PARTICIPAÇÕES S.A., a company organized and existing under the laws of the Federative Republic of Brazil, and its successors (the “Company”), (ii) CITIBANK, N.A., a national banking association organized and existing under the laws of the United States of America acting in its capacity as depositary, and any successor depositary hereunder (the “Depositary”), and (iii) all Holders and Beneficial Owners from time to time of American Depositary Shares issued hereunder (all such capitalized terms as hereinafter defined).
