Conversion into definite securities of INA1AP--R to INA AP

NOTICE N.º 1320/07

We hereby inform that the 122.762.987 shares bearer representing the increase of the share capital from 27.237.013,00 to 150.000.000,00 EUR, of INAPA - Investimentos Participações e Gestão, S.A., registered under the code INA1AP--R, took the code INA AP.

INTERBOLSA, 27^th December, 2007