EDP decided to exercise the call option on OPTEP

With the conclusion of this roll-up operation, through the subscription by 093X of 58,300,000 shares of Sonaecom - made within the scope of the share capital increase, which public deed was consented on October 18, 2006 - EDP decided to exercise the call option to acquire the entire share capital and accessory capital of OPTEP. This transaction should take place on next November 2, after what Sonaecom's shares will be indirectly held by EDP.

Moreover, it is worth mentioning that OPTEP's shares, by the time of their disposal by EDP on March 2002, were the object of a Total Return Swap ("TRS"), which with the acquisition of OPTEP shares by EDP will no longer be valid.

With the cessation of the TRS, EDP will recognize a financial loss or gain which will amount to the difference between €315 million (initial reference value for the TRS) and the market value of Sonaecom shares (at the closing price of the previous day) held by 093X, which is fully owned by OPTEP.


EDP - Energias de Portugal, S.A.