Share Change For Portugal Telecom In The S&P European Indices

Standard & Poor’s will make the following changes in the S&P Europe 350, S&P Euro Plus and S&P Euro indices, effective after the close of trading on Tuesday 29 January 2008:

• Portugal Telecom SA (Portugal, SEDOL: 5817186, GICS: Telecommunication Services, GICS Code: 50101020), a member of the S&P Europe 350, S&P Euro Plus and S&P Euro indices, shares will decrease to 1,025,800,000, following the buy back and cancellation of shares.