Portugal Telecom, SGPS S.A. (“PT”) reports that Paulo José Lopes Varela, non-executive director of PT since 27 March 2009, informed having acquired, on 14 December 2009, on the regulated market operated by Euronext Lisbon, 4,110 PT shares, at a price of Euro 8.51 per share. As a result of this acquisition, Paulo José Lopes Varela now holds the total of 7,134 PT shares.
This announcement is pursuant to the terms of article 248-B of the Portuguese Securities Code and of article 14 of the CMVM Regulation no. 5/2008.