Portugal Telecom Intnl Fin BV Notice of Appointment of New Managing Director (9332G)

TIDM36EN

RNS Number : 9332G

Portugal Telecom Intnl Fin BV

11 August 2016

PORTUGAL TELECOM INTERNATIONAL FINANCE B.V. em recuperação judicial (subject to Brazilian in-court restructuring proceedings)

(the "Issuer")

NOTICE

to the holders of the following securities:

EUR500,000,000 4.375 per cent. Notes due 2017

(ISIN: XS0215828913)

EUR250,000,000 5.242 per cent. Notes due 2017

(ISIN: XS0441479804)

EUR750,000,000 5.875 per cent. Notes due 2018

(ISIN: XS0843939918)

EUR750,000,000 5.00 per cent. Notes due 2019

(ISIN: XS0462994343)

EUR1,000,000,000 4.625 per cent. Notes due 2020

(ISIN: XS0927581842)

EUR500,000,000 4.5 per cent. Notes due 2025

(ISIN: XS0221854200)

EUR400,000,000 6.25 per cent. Notes due 2016

(ISIN: PTPTCYOM0008)

(together, the "Notes")

issued by the Issuer under its EUR7,500,000,000 Euro Medium Term Note Programme

and guaranteed by

Oi S.A. em recuperação judicial (subject to Brazilian in-court restructuring proceedings)

("Oi")

On 10 August 2016, Mr Marco Norci Schroeder delivered his letter of resignation from his position as managing director A of the Issuer.

On 10 August 2016, Oi, as the sole shareholder of the Issuer, adopted a written resolution by which it accepted the resignation of Mr Schroeder and appointed Mr Carlos Augusto Machado Pereira de Almeida Brandão as a new managing director A in place of Mr Schroeder.

For more information, please contact:

Portugal Telecom International Finance B.V. em recuperação judicial (subject to Brazilian in-court restructuring proceedings)

Carlos Augusto Machado Pereira de Almeida Brandão

E-mail: [e-mail]

Telephone: + 55 21 3131-2918

11 August 2016

This information is provided by RNS

The company news service from the London Stock Exchange

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August 11, 2016 05:35 ET (09:35 GMT)