Luís Pacheco de Melo remains in office as CFO of PT SGPS

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Following certain press reports, Portugal Telecom, SGPS, S.A. ("PT") clarifies that Luís Pacheco de Melo remains in office as an executive board member and Chief Financial Officer (CFO) of PT.


Furthermore, in order to focus exclusively on the development and implementation of the business combination between Portugal Telecom and Oi, Luís Pacheco de Melo has communicated the cessation of his duties as member of the Board of Directors and Vice President of PT Portugal SGPS S.A. and as a member of the Board of Directors Africatel Holdings B.V. by resigning from the offices above mentioned.

Contacts:
Contacts:  Nuno Vieira, Investor Relations Director
nuno.t.vieira@telecom.pt
Tel.: +351 21 500 1701
Fax: +351 21 500 0800

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