[PDF 33KB]

Portugal Telecom, SGPS S.A. (“PT”) informs that Deutsche Bank AG now holds more than 2% of the voting rights corresponding to the share capital of PT.

Such new holding resulted from the acquisition by Deutsche Bank AG London through an OTC transaction, of 13,900,000 PT ordinary shares made on 11 May 2010. As a result of such transaction, Deutsche Bank AG now holds a total of 24,973,317 ordinary shares representing 2.79% of PT’s share capital and corresponding voting rights.

Additionally, PT was informed that such holding is attributed to Deutsche Bank AG through the following entities:

• Deutsche Bank AG: 13,862,237 ordinary shares representing 1.55% of the share capital and voting rights in PT;
• Deutsche Asset Management Investmentgesellschaft mBH: 57,573 ordinary shares representing 0.01% of the share capital and voting rights in PT;
• Deutsche Asset Management (Japan) Limited: 5,156 ordinary shares representing 0.001% of the share capital and voting rights in PT;
• Deutsche Asset Management (Korea) Company Limited: 8,864 ordinary shares representing 0.001% of the share capital and voting rights in PT;
• Deutsche Investment Management Americas Inc: 53,939 ordinary shares representing 0.01% of the share capital and voting rights in PT;
• DWS Investment GmbH: 10,282,302 ordinary shares representing 1.15% of the share capital and voting rights in PT;
• DWS Investment SA, Luxembourg: 598,489 ordinary shares representing 0.07% of the share capital and voting rights in PT;
• DWS Investments (Spain) S.G.I.I.C S.A: 7,000 ordinary shares representing 0.001% of the share capital and voting rights in PT;
• Frankfurt-Trust Investment-Gesellshaft mBH: 82,757 ordinary shares representing 0.01% of the share capital and voting rights in PT;
• Sal Oppenheim (France) S.A: 15,000 ordinary shares representing 0.002% 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 received on May 17 and 18, 2010, from Deutsche Bank AG, with head offices at Taunusanlage 12, Frankfurt am Main, and Deutsche Bank AG London, with offices at 1 Great Winchester Street, London EC2N 2DB, United Kingdom, respectively.