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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 8 June 2010, Barclays Capital Securities Ltd (a subsidiary of Barclays Plc) qualified holding in PT became less than 2% of the voting rights corresponding to the share capital of PT.
   
   This change resulted from the disposal in an on-market transaction of 121,778 ordinary shares of PT,  representing 0.01% of PT’s share capital and corresponding voting rights.
   
   
2. On 4 June 2010, Barclays Capital Securities Ltd 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 in an on-market transaction of 204,563 ordinary shares of the PT representing 0.02% of PT’s share capital and corresponding voting rights.

 In addition, PT was further informed, that Barclays Capital Securities Ltd held 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 and it held two call options with expiration dates of 7 and 9 July 2010, respectively of 13,401 and 21,745 PT ordinary shares, representing respectively of 0.001% and 0.002% of the voting rights.

As a result of such transactions, Barclays Plc held a total of 18,006,471 ordinary shares representing 2.01% 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: 493,193 ordinary shares representing 0.05% of the share capital and voting rights in PT;
• Barclays Bank SA: 104,855 ordinary shares representing 0.001% of the share capital and voting rights in PT;
• Barclays Capital Inc: 106,720 ordinary shares representing 0.01% 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: 16,733,793 ordinary shares (corresponding to 6,598,647 ordinary shares and 10,135,146 ordinary shares via financial instruments), representing 1.87% of the share capital and voting rights in PT;
• Barclays Wealth Managers Portugal – SGFIM S.A.: 317,910 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 article 17 of the Portuguese Securities Code, following communications on 9 and 10 June 2010, received from Barclays Plc, with head office at 1 Churchill Place, London E14 5HP, United Kingdom.