RELEVANT EVENT Mexicali, Baja California, July 25th 2013.- Urbi Desarrollos Urbanos, S.A.B. de C.V. announces that, it will not present on time the report of its financial results for the second quarter of 2013, for the reasons listed below.

Urbi is in the process of a detailed review of the value of its assets in the context of the current housing sector situation, as well as the company's present financial restructuring process including, among others, an assessment of the impact of the new operating rules of the Housing Financing Scheme and Federal Grant Program, for the fiscal year 2014, issued on July 1st, 2013 by the Secretary of Agrarian Development, Territorial and Urban Planning.

The company is primarily reviewing its inventories and accounts receivable, which at March 31st,

2013 amounted to $32.4 billion pesos and $ 12.2 billion pesos, respectively, and represented, in aggregate, approximately 94% of its total assets at that date.

The review includes an analysis of more than 200 real estate projects in 29 cities, that cover over
7,000 hectares of land, considering the gradual transformation of the projects in the medium and long term into "Certified Developments" or other categories that maximize the cost-benefit of drawing subsidies.
It is worth noting that the new operating rules encourage the development of Certified Developments, and Urbi was the first company in Mexico to certify a development, so the company considers that its extensive experience and knowledge in the field of Sustainable Development will allow the company to continue to certify its projects.
Under International Financial Reporting Standards, the company must disclose material facts that have an impact on the financial information that occur after the reporting period under report. Consequently, the company is required to reflect the results of the review of its assets in its financial information as of June 30th, 2013.
In addition, Urbi has asked its independent auditors to undertake a review of specific provisions, in accordance with applicable accounting standards, before the issuance of its financial statements as of June 30th, 2013, and subsequently issue a limited opinion with respect to the aforementioned financial statements.
The company will publish its second quarter report of 2013 as soon as the previously mentioned reviews are completed. The decision to postpone the earnings release until these reviews are completed was made with the goal of providing our stakeholders adequately supported and useful
information for decision-making.

Page 1 of 2

******

This document contains forward-looking statements of the Company, including statements about its financial condition and of the Company's future results of operations, its strategy, plans, objectives and targets, and other data that is not historical information. Such forward-looking statements are based on assumptions, plans, intentions and expectations of the Company's management, and involve risks, uncertainties and other factors, known and unknown, some of which are beyond the control of the Company. Such statements should not be interpreted based on past trends and activities, as if they were to continue in the future. Forward-looking statements contained herein are

valid at the date of this document.

Page 2 of 2

distributed by