CTT-Correios de Portugal

Business and Financial Review • Jun 16, 2015

CTT – Correios de Portugal, S.A. Public Company Avenida D. João II, nº 13 1999-001 LISBON Share capital EUR 75,000,000.00 Lisbon commercial registry and fiscal no. 500 077 568

Announcement - Lisbon, 16 June 2015

Material information

CTT – Correios de Portugal, S.A. hereby informs that its subsidiary in Spain, Tourline Express Mensajería, S.L.U. ("Tourline Express"), will carry out a human resources optimisation and restructuring process to increase its operational efficiency by reducing staff costs, as well as to improve and simplify processes in the context of the ongoing restructuring plan.

Therefore, Tourline Express will initiate tomorrow a negotiation process to reduce its workforce in accordance with the applicable law and involving due consultation with the structures representing the employees of the company.

This process is part of the turnaround initiatives which have been carried out at Tourline Express and its network of franchisees to restore this subsidiary's future profitability and sustainability. The impacts of this process, which are non-recurring, are in line with those from previous restructuring measures, specifically the restructuring for network optimisation, implemented in the 4th quarter of 2014.

This information is also available on CTT's Investor Relations website at: http://www.ctt.pt/ctt-einvestidores/relacoes-com-investidores/comunicados.html?com.dotmarketing.htmlpage.language=1.

CTT – Correios de Portugal, S.A.

Market Relations Representative of CTT André Gorjão Costa

Investor Relations of CTT Peter Tsvetkov

Contacts:

Email: investors@ctt.pt Fax: + 351 210 471 996 Phone: + 351 210 471 857