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Portugal Telecom, SGPS S.A. (“PT”) informs it was notified that there has been a change in the composition of Barclays Plc’s shareholder interest in PT (although such interest remains within the same percentage threshold range of reportable interests as was previously disclosed), as follows:

• On 19 May 2010, Barclays Capital Securities Ltd disposed of 11,513,935 PT ordinary shares, representing 1.28% of the voting rights, , through an OTC transaction.
• On the same date, Barclays Capital Securities Ltd purchased, through an OTC transaction,  a financial instrument by way of a forward contract with an expiration date of 18 August 2010, corresponding to 10,100,000 PT ordinary shares, representing 1.13% of the voting rights (It was further informed that Barclays Capital Securities also holds a call option with an expiry date of 9 July 2010, in respect of 21,745 PT ordinary shares, representing 0.002% of the voting rights, as well as another call option with an expiry date of 7 July 2010, in respect of 13,401 PT ordinary shares, representing 0.002% of voting rights).

As a result of such transactions, Barclays Plc now holds a total of 18,343,644 ordinary shares representing 2.05% of PT’s share capital and corresponding voting rights.

Additionally, PT was informed that such holding is attributed to Barclays Plc through the following entities:

• Barclays Bank Plc: 347,132 ordinary shares representing 0.04% of the share capital and voting rights in PT;
• Barclays Bank SA: 8,494 ordinary shares representing 0.001% of the share capital and voting rights in PT;
• Barclays Capital Inc: 191,220 ordinary shares representing 0.02% of the share capital and voting rights in PT;
• Barclays Capital Luxembourg SaRL: 250,000 ordinary shares representing 0.03% of the share capital and voting rights in PT;
• Barclays Capital Securities Ltd: 17,212,088 ordinary shares (corresponding to 7,076,942 ordinary shares and 10,135,146 ordinary shares via financial instruments), representing 1.92% of the share capital and voting rights in PT;
• Barclays Wealth Managers Portugal – SGFIM S.A.: 334,710 ordinary shares representing 0.04% of the share capital and voting rights in PT;

This statement is pursuant to the terms and for the purposes of paragraph c) of article 1 of the CMVM Regulation no. 5/2008, following a communication received from Barclays Plc, with head office at 1 Churchill Place, London E14 5HP, United Kingdom.