PORTUGAL TELECOM : Qualified holding and long position - Morgan Stanley

Qualified holding and long position - Morgan Stanley

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Portugal Telecom, SGPS S.A. ("PT") hereby informs that Morgan Stanley now holds a qualified holding and a long position higher than 2% of the voting rights corresponding to the share capital of PT.

This change is due to an increase of a borrowed position in 3,168,565 PT ordinary shares by MS Equity Financing Services (Luxembourg) S.a.r.l., made on 15 October 2013. As a result, Morgan Stanley now holds a qualified holding and long position corresponding to 20,509,972 ordinary shares representing 2.29% of PT's share capital.

Additionally, PT was informed that the qualified holding and long position are held as follows:

Holdings in ordinary shares:

• Morgan Stanley & Co. International plc: 8,680,754 ordinary shares representing 0.97% of the share capital and voting rights in PT;
• Morgan Stanley & Co. LLC: 5,249,440 ordinary shares representing 0.59% of the share capital and voting rights in PT;
• Morgan Stanley Smith Barney LLC: 337,279 ordinary shares representing 0.04% of the share capital and voting rights in PT;
• MS Equity Financing Services (Luxembourg) S.a.r.l.: 4,457,943 ordinary shares representing 0.50% of the share capital and voting rights in PT.

Holdings in financial instruments:

• Morgan Stanley & Co. International plc: 1,784,556 ordinary shares (via bond exchangeable into shares already in issue) representing 0.20% of the share capital and voting rights in PT.

PT was further informed that the parent company Morgan Stanley controls Morgan Stanley & Co. International plc, Morgan Stanley & Co. LLC, MS Equity Financing Services (Luxembourg) S.a.r.l. and Morgan Stanley Smith Barney LLC, through the following chains of companies:

• Morgan Stanley & Co. International plc: Morgan Stanley International Holding Inc., Morgan Stanley International Limited, Morgan Stanley Group (Europe) and Morgan Stanley UK Group;
• Morgan Stanley & Co. LLC: Morgan Stanley Capital Management LLC and Morgan Stanley Domestic Holdings Inc.;
• Morgan Stanley Smith Barney LLC: Morgan Stanley Capital Management LLC, Morgan Stanley Domestic Holdings Inc., Morgan Stanley & Co. LLC, MS Alpha Holdings LLC, Morgan Stanley JV Holdings LLC and Morgan Stanley Smith Barney Holdings LLC;
• MS Equity Financing Services (Luxembourg) S.a.r.l.: Morgan Stanley International Holdings Inc..

This statement is pursuant to the terms and for the purposes of articles 17 of the Portuguese Securities Code and 2 and 2-A of the Portuguese Securities Commission Regulation no. 5/2008, following a communication received from Morgan Stanley & Co. International plc, with registered office at 25 Cabot Square, Canary Wharf, London E14 4QA, United Kingdom.

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