TIDM36EN

RNS Number : 4455X

Portugal Telecom Intnl Fin BV

21 February 2017

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

(the "Issuer" or "PTIF")

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")

Confirmation of the date for the appeal hearings relating to the judgments regarding the requests for conversion of each of PTIF's and Oi Brasil Holdings' respective suspension of payments proceedings into Dutch bankruptcy proceedings

On 10 February 2017, Oi, PTIF and Oi Brasil Holdings Coöperatief UA em recuperação judicial (subject to Brazilian in-court restructuring proceedings) ("Oi Brasil Holdings") were informed that certain creditors of each of PTIF and Oi Brasil Holdings filed appeals against the judgements of the District Court of Amsterdam, The Netherlands, which denied the requests for conversion of each of PTIF's and Oi Brasil Holdings' respective suspension of payments proceedings into Dutch bankruptcy proceedings.

On 20 February 2017, the Court of Appeal of Amsterdam, The Netherlands, confirmed that the hearings in relation to such appeals will be held on 29 March 2017.

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: PTIF.SoP@oi.net.br

Telephone: + 55 21 3131-2918

The administrator of PTIF

Mr J.L.M. Groenewegen

CMS

PO Box 94700

1090 GS Amsterdam

The Netherlands

E-mail: ptif@cms-dsb.com

Telephone: +31 20 3016 311

21 February 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 21, 2017 07:07 ET (12:07 GMT)

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