BRASIL TELECOM S.A

Brasil Telecom S.A. (BrT) (BM&F Bovespa: BRTP3, BRTP4 / NYSE: BRP) is a major Brazilian telecommunications company headquartered in the Brazilian capital of Brasilia. The company is one of three land lines, one long distance and eight mobile telephone companies in Brazil that emerged from the break-up of Telebrás. Originally the company was called Tele Centro Sul, because its service covered the states in the central and southern parts of Brasil, namely Acre, Rondônia, Goiás, Tocantins, Mato Grosso, Mato Grosso do Sul, Paraná, Santa Catarina and Rio Grande do Sul, as well as the Distrito Federal. Since January 9, 2009, the company is a subsidiary of Oi.

History

The Brazilian investment bank Opportunity, which managed funds that had Citigroup and some Brazilian pension funds as investors, alongside Telecom Italia, paid 2.07 billion reais in June 1998 to buy Tele Centro Sul from the Brazilian government as part of the privatization process of Telebrás. After some legal wrangling, the company is now controlled by Citigroup and the Brazilian pension funds, who removed Opportunity from the management of their respective funds and took control of the company in 2005. BrT started up a wireless service in 2004.

Brasil Telecom's stock is traded on BM&F Bovespa, where it is part of the Ibovespa index, as well as on the New York Stock Exchange.

In 2008, it was announced that Brasil Telecom would be acquired by Oi[1]. That transaction required changes in legislation, since legislation at the time prohibited a fixed telephone company from purchasing another fixed telephone company in a different license area. That legislation has since changed, and Oi completed its purchase of BrT on January 9, 2009.

To get interconnected with Brasil Telecom please contact:

Bruno Rodrigues Roque


International Business Department

Tel: +55 61 3415 8686

Mobile: +55 61 8426 7563

E-mail: bruno.roque@brasiltelecom.com.br

http://www.brasiltelecom.com.br/