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Portugal Telecom, SGPS S.A. (“PT”) hereby informs that it has received the following communications on qualified holdings in PT:

1. On 17 June 2010, Société Général SA (“SG”)’s qualified holding in PT became higher than 2% of the voting rights corresponding to the share capital of PT.
   
   This change resulted from the acquisition of 16,579,586 ordinary shares of PT, as a result of SG’s trading activity.
   
   As a result of such transaction, SG held a total of 17,989,767 ordinary shares representing 2.01% of PT’s share capital and corresponding voting rights.
   
   
2. On 21 June 2010, SG’s qualified holding in PT became lower than 2% of the voting rights corresponding to the share capital of PT.
   
   This change resulted from the disposal of 408,355 ordinary shares of the PT, as a result of SG’s trading activity.
   
   As a result of such transaction, SG held a total of 17,581,412 ordinary shares representing 1.96% of PT’s share capital and corresponding voting rights.

This statement is pursuant to the terms and for the purposes of article 17 of the Portuguese Securities Code, following communications made today by Société Générale SA, with head office at 29 Bd Haussmann, 75009 Paris, France.