Sonaecom SGPS — Management Reports 2006

Aug 2, 2006

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SONAECOM, SGPS, S.A. (Public Company) Registered Office: Lugar do Espido, Via Norte, Maia Tax nº 502 028 351 Share Capital: € 296,526,868 Registered at the Commercial Registry Office of Maia under nº 45 466

Financial year of 2005 – Amendment to the Consolidated Management Report and Accounts 2005

Pursuant to a CMVM request and under the terms of number 4, Article 1, of CMVM Regulation No. 4/2004, Sonaecom SGPS, SA hereby informs on the amendment to the Consolidated Management Report and Accounts 2005, disclosed on 28 April 2006, particularly in relation to the amendment to the table of the qualified shareholding interests, set forth in page 62.

Thus, the following shall replace the above mentioned qualified shareholding interests table:

QUALIFYING HOLDINGS In compliance with sub - paragraph e), of nr 1, of the article 8 of the Securities Market Regulation Board (Regulamento da CMVM) nr 04/2004, we declare the Qualifying Holdings as

ShareholderEfanor Investimentos, SGPS, SASonae, SGPS, SASonae Investments, BVBelmiro Mendes de Azevedo1, 3,4Duarte Paulo Teixeira de Azevedo1, 3 ,4Maria Cláudia Teixeira de Azevedo3,Ângelo Gabriel Ribeirinho dos Santos Paupério1, 2Álvaro Carmona e Costa Portela1France Telecom, S.AAtlas Services Belgium, S.A.Wirefree Services Belgium, S.A.	Number ofshares% Votingrights1.0000,00%39.362.99813,27%146.133.64849,28%75.5370,03%315.7950,11%13.6540,00%60.0700,02%5.0000,00%185.967.70262,72%18.743.7926,32%51.533.07617,38%70.276.86823,70%

(1) Member of the Board of Directors of Sonae, SGPS, SA

(2) Member of the Board of Directors of Sonae Investments, BV

(3) Member of the Board of Directors of Efanor Investimentos, SGPS, SA

(4) Member of the Board of Directors of Sonaecom, SGPS, SA

We further inform that this amendment is intended to clarify the information contained in the above mentioned chart.

Maia, 1 August 2006

The Board of Directors