VIV Telefonica Brasil SA

SAO PAULO, Brazil, Aug. 3 /PRNewswire-FirstCall/ -- Vivo Participacoes S.A. (NYSE:VIV) (Bovespa: VIVO4.BR) informs that, in regard to the call notice sent to BOVESPA on the date hereof related to the Extraordinary General Shareholders' Meeting for the ratification of the execution of the stock purchase and sale agreement of the Telemig Celular Participacoes S.A. and Tele Norte Celular Participacoes S.A. shares, pursuant to the Notice of Material Fact dated August 2, 2007, on account of the provisions set forth in the second paragraph of Article 256 of the Brazilian Corporations Law, the shareholders of Vivo Part., holders of common shares, shall have the right to withdraw. The right to withdraw, if exercised, shall refer to the amount of R$ 5.74 per share, based on the shareholders' equity of the Company as of June 30, 2007. Shares purchased as of today shall have the right to withdraw in the amount referred to above. Pursuant to article 137 of the Brazilian Corporations Law, the term set forth for the exercise of the right referred to above shall consist of 30 days counted as of the date of the publication of the minutes of the Extraordinary General Shareholders' Meeting that approves the transactions, when the limit date, the manner and the conditions of qualification and other related information shall be disclosed. Further information is available at Vivo's Investor Relations website (http://www.vivo.com.br/ir). Ernesto Gardelliano Investor Relations Officer DATASOURCE: Vivo Participacoes S.A. CONTACT: Investor Relations of VIVO Participacoes S.A., Web site: http://www.vivo.com.br/ir

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