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VIVO PARTICIPAÇÕES S.A. ANNOUNCES THE RESULT OF THE AUCTION FOR THE PLACEMENT OF THE SHARES RESULTING FROM THE REVERSE SPLIT

BOVESPA AUCTION OF OCTOBER 27, 2008 FOR THE SALE OF SHARES RESULTING FROM THE REVERSE SPLIT APPROVED IN THE EXTRAORDINARY GENERAL SHAREHOLDERS’ MEETING OF SEPTEMBER 11, 2008

São Paulo, Brazil - October 31, 2008 - Vivo Participações S.A. (“Vivo Part”), (BOVESPA: VIVO3 (Ord), VIVO4 (Pref), NYSE: VIV), announces today the total amount of common shares sold in the auction held on October 27, 2008 in the São Paulo Stock Exchange “Bolsa de Valores de São Paulo”: and the respective amounts per share to be credited to the shareholders pro rata to the fractions held by them before the auction are as follows;

Auction of October 27, 2008

The 592,179 common shares and the 736,069 preferred shares that were not sold in the auction held on October 27, 2008 will be offered again in an auction to be held on November 06, 2008, by the reference price to be adjusted by the weighted average price of the last two trading sessions prior to the date of the new auction and the result shall be disclosed by the Company after the financial settlement date.

Considering that all the shares offered in the auctions herein above mentioned were not sold, the product of the common and preferred shares traded in the referred auctions will only be available to the shareholders entitled to receive such credits of the fractions after the sale of the totality of the remaining shares of the Company, as described herein below:

(a)           The shareholders whose shares are in custody of Banco ABN Amro Real S.A (“Banco Real”) shall attend to any agency of the referred bank to receive the amounts due to them;

(b)           The amount corresponding to the Shareholders that are in custody of the Brazilian Clearing and Depository Corporation (Companhia Brasileira de Liquidação e Custódia - “CBLC”) will be directly credited in CBLC, which shall send it to the shareholders through the custody agents; and

(c)           In case of Shareholders whose shares are blocked or the register is not updated, the corresponding amount will be kept by the Company and at the disposal of the respective Shareholder, exclusively for payment, and shall be paid by means of the presentation of any document that evidences the raising of blocked shares or the shareholder identification, as the case may be, before any agency of Banco Real, the institution depositary of the registered book-entry shares issued by the Company.

 

São Paulo, October 31, 2008.
Ernesto Gardelliano
Investor Relations Officer
Vivo Participações S.A.
www.vivo.com.br

For further information please contact:
Investor Relations
Tel: 55 11 7420-1172
Email: ir@vivo.com.br

 

(1) Net Value of broker, settlement fee and fees.