Capital increase of PTC AM

Date

19/05/2006

Notice Number

06/0480

NOTICE N.º 0480/06

We hereby inform that, on 18^th May, 2006, subsequent to the capital increase of PORTUGAL TELECOM - S.G.P.S., S.A. from 1.128.856.500,00 to 1.467.513.450,00 EUR, the nominal value has been changed from 3,02 to 6,90 EUR, under the code PTC AM.

INTERBOLSA, 19^th May, 2006