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4Q10 and 2010 Results: VIVO Participacoes S.A.

SAO PAULO, Brazil Feb. 24, 2011 R$ 1.9 billion

R$ million

4Q10

3Q10

4Q09

2010

2009

Net Revenue

4,863.0

4,608.1

4,415.2

18,105.9

16,637.1

Total Operating Costs

(3,185.3)

(3,070.3)

(3,027.8)

(12,274.1)

(11,412.7)

EBITDA

1,677.7

1,537.8

1,387.4

5,831.8

5,224.4

EBITDA Margin (%)

34.5%

33.4%

31.4%

32.2%

31.4%

Net Result

864.2

601.8

203.3

1,893.8

878.1

Number of accesses (thousand)

60,293

57,714

51,744

60,293

51,744

Market share

29.71%

30.14%

29.75%

29.71%

29.75%

Net Additions (thousand)

2,578

1,737

2,897

8,548

6,799

Vivo’s customer base totaled 60,293 thousand accesses (16.5% annual growth), with 8,548 thousand new accesses in the year (33.3% in the postpaid segment);

Vivo’s postpaid customer base recorded annual growth of 29.1%;

Postpaid Market share of 35.24% (annual increase of 3 p.p.);

Market Share of 29.7%, flat in the yoy comparison;

Annual growth of 12.5% in the Net Service Revenue in 4Q10 (ARPU increased for the third consecutive quarter). Increase in 2010 recorded 9.9%;

Accelerated annual growth in outgoing voice, recording 12.3% in 4Q10;

Annual growth of 48.0% in Data and VAS Revenue (which accounts for 20.7% of the net service revenue). Mobile internet revenue grew 65.4%;

EBITDA Margin of 34.5 % in the quarter (+3.1 p.p. yoy) and 32.2% in the year-to-date (+0.8 p.p. yoy);

EBITDA increased by 20.9% over 4Q09. Increase of 11.6% in 2010 ;

Net profit R$ 864.2 million , and R$ 1,893.8 , with growth of 115.7% over 2009 ;

R$ 2,290.8 million (excluding legal reserve);

Cash generation after investments R$ 2,898.7 million in the quarter (63.7% higher than in 2009);

Net debt in 4Q10 R$ 1,743.5 million (54.4% lower than in 4Q09).

VIVO – Investor Relations

Cristiane Barretto Sales

Carlos Raimar Schoeninger

Luis Carlos Plaster

Av Chucri Zaidan, 860 – Morumbi – SP – 04583-110

Telephone: +55 11 7420-1172

e-mail: [email protected]

To download the complete version of the Company’s earnings release, please visit our website: www.vivo.com.br/ri

SOURCE VIVO Participacoes S.A.

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