Restated Consolidated Financial Statements
Years ended December 31, 2010, 2009 and 2008

Desarrolladora Homex, S.A.B. de C.V. and Subsidiaries
Notes to restated consolidated financial statements
for the years ended December 31, 2010 and 2009
(Figures in thousands of Mexican pesos (Ps.), except as otherwise indicated)

26. Subsequent events
In November 12, 2010, the Company entered into a master agreement of cooperation with the Omar Kassem Alesayi Group from the Saudi Arabia Kingdom on which both parties agreed to join efforts in order to develop projects of entry-level homes. The first project will be developed in Al Qara in the city of Jeddah, with a total of 1,450 units under a co-development agreement with Aqarat Real Estate Development Company.

The Company will invest 55% of 10 million riyals (approximately US$ 2.7 million) in the joint venture.

At the date of the financial statements, the Company is still in the process of creating the entity for the joint venture and obtain the corresponding governmental authorization.

On April 27, 2011, the Company through one of its subsidiaries, entered into a short-term Credit Agreement with Credit Suisse AG, in an aggregate principal amount of US$150 million dollars due April 27, 2012, bearing a variable rate of LIBOR plus 3.50%. Upon the execution of this agreement and the proper documentation, the Company will enter into an Interest-Only Swap that will effectively convert floating amounts into peso denominated rate of approximately TIIE minus 0.825%. The use of proceeds is to repay or refinance indebtedness of the parent Company and/or its subsidiaries.

During the first quarter of the year, the Company paid and renewed some of its revolving credit lines. In addition the Company entered into two new revolving credit lines for working capital needs, one for Ps. 200,000 with Grupo Financiero Inbursa, S.A. and the other one for Ps. 200,000 with Banco Mercantil del Norte, S.A.

On May 26, 2011, the Company through its Brazilian subsidiary MCA Incorporacoes, S.A. celebrated a simple guaranteed debentures issuance, through the issuance of 1,279 debentures for which it received R$127,300,000 (approximately Ps. 946.68 million or US$76.46 million). This amount was used to refinance liabilities for the Brazilian operations and is due on April 11, 2016.