We present the results of TNG near-IR low resolution spectroscopy of two (S7F5-254 and S7F5-45) sources belonging to a complete sample of 15 EROs with K<18 and R-K>5 selected from the MUNICS Survey. Both the spectra show a sharp drop in the continuum which can be ascribed only to the Balmer break. This places them at 1.2<z<1.5. Their rest-frame z=1.2 K-band absolute magnitude is M_K ~ -26.6 (L ~ 7L*). The comparison of the spectra and the photometric data with a grid of synthetic template spectra provides a redshift z=1.22 for S7F5-254 and z=1.46 for S7F5-45. The resulting lower limits to their stellar mass are M_{stars}=6x10^{11} M_{sun} and M_{stars}=4x10^{11} M_{sun}. The minimum age of the last burst of star formation in S7F5-254 is 3.5 Gyr while it is 0.5 Gyr in S7F5-45 implying a minimum formation redshift z_f>3.5 and z_f>2 for the two EROs respectively.
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