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Conference Call 2Q03

Conference Call 2Q03. Agenda. Second Quarter Results Debt Position Outlook Q&A Session. Platform Growth. (Million Lines, End of Period). 17.1. 16.5. 16.7. 15.6. 14.9. Wireless. Wireline. TNE. 4,570. 4,453. 3,774. 1Q03. 2Q03. 2Q02. Revenue Growth (Gross Revenues – R$m).

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Conference Call 2Q03

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  1. Conference Call 2Q03

  2. Agenda • Second Quarter Results • Debt Position • Outlook • Q&A Session

  3. Platform Growth (Million Lines, End of Period) 17.1 16.5 16.7 15.6 14.9 • Wireless • Wireline

  4. TNE 4,570 4,453 3,774 1Q03 2Q03 2Q02 Revenue Growth (Gross Revenues – R$m) Wireless Service 292 219 1Q03 2Q03

  5. 8% • 49% • 41% • 30% • -20% • 16% • 11% Gross Revenue Growth - Fixed Line Services 7% 6% 5% QoQ Average 1% 1% -1% -1% -4% Local (ex-VC1) VC1 Long Distance VC2/3 Data Other (ex-VC2/3) Network YoY Usage Average +13%

  6. Wireless Operating & Financial Performance Gross Revenue (R$ Million) Net Additions (in Thousands) 900 321 513 366 314 391 Market Share - June/03 Net Additions 2Q03 * 12.5% Oi 46% Oi Other Operators Other Operators 54% 87.5% * Source: market estimates

  7. Costs & Operating Expenses* R$m 1Q03 • G&A / Other • Selling • Cost of services • Interconnection 2Q03 • G&A/ • Other • 2Q03 • 2Q02 • 1Q03 • Cost of services • Selling • Interconnection * Ex depreciation & amortization

  8. Bad Debt Provisions % Gross Revenue • 2Q03 • 2Q02 • 3Q02 • 4Q02 • 1Q03

  9. EBITDA - Consolidated R$m

  10. Capex R$m 697 509 386 295 185 • Wireless • Wilreine

  11. Financial Expenses R$m +65 651 586 220 Monetary/Exchange Variations +56 164 232 Interest on Loans/Debentures -33 265 126 Banking Fees & Cont. Provision +18 108 29 Taxes on Financial Income -2 31 44 18 Other Financial Expenses +26 1Q03 2Q03

  12. Debt Profile – Net Debt Position R$m A 5% reduction in net debt

  13. % To be Amortized 2H2003 9.7% 3,112 2004 20.5% 2005 21.2% 2006 27.3% 2,420 2007 9.1% 2,340 2008 4.5% 2009 onwards 7.7% Total 100.0% 1,100 1,032 882 508 2H2003 2004 2005 2006 2007 2008 2009 onwards Debt Profile – Maturity Schedule R$ m • Total Debt: • 11,394

  14. Outlook

  15. Q&A Session

  16. Investor Relations • Rua Humberto de Campos, 425 / 7º andar • Leblon • Rio de Janeiro -RJ • Phone: ( 55 21) 3131-1314/1313/1315 • Fax: (55 21) 3131-1155 • E-mail: invest@telemar.com.br • Visit our website: http://www.telemar.com.br/ri • This presentation contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements and involve inherent risks and uncertainties. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events “Safe Harbor” Statement

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