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Registry of PVLCJM

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12/0686

NOTICE N.º 0686/12

We hereby inform that, on 25th May, 2012, 10.000 units of commercial paper, with a nominal value of 50.000,00 EUR, of the company PARVALOREM, S.A., shall be registered, regarding the issue "PARVALOREM- 5ª Emissão PC 2011 - PRG 1 M EUR ", under the code PVLCJM.

INTERBOLSA, 24th May, 2012