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Conference Call 4Q02

Conference Call 4Q02. TNE Confence Call – 4Q02. Agenda. Financial and Operational Results Debt/ Hedge Outlook Q&A Session. TNE Confence Call – 4Q02. 3,226. 2,733. +17.5%. +18.0%. +4.6%. Revenue Growth – Net Revenues (R$ Million). 4Q01/ 4Q02. 3Q02/ 4Q02. FY01/ FY02. 3,226. 11,874.

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Conference Call 4Q02

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  1. Conference Call 4Q02

  2. TNEConfence Call – 4Q02 Agenda • Financial and Operational Results • Debt/ Hedge • Outlook • Q&A Session

  3. TNEConfence Call – 4Q02 3,226 2,733 +17.5% +18.0% +4.6% Revenue Growth – Net Revenues (R$ Million) 4Q01/ 4Q02 3Q02/ 4Q02 FY01/ FY02 3,226 11,874 3,083 10,103

  4. TNEConfence Call – 4Q02 46% 32% 17% 16% 15% 3% 0,1% Local (ex-VC1) Long Distance Advanced Voice Pay Phones Data VC1 Network Usage Gross Revenue Growth - 2002 vs 2001 Wireline Avg Growth 14%

  5. TNEConfence Call – 4Q02 41 416 13 404 18 2 3Q02 4Q02 4Q02 3Q02 3Q02 4Q02 Long Distance Services R$ Million International Interregional Intra-regional

  6. TNEConfence Call – 4Q02 900 Post Paid 20% 500 20% Pre Paid 80% 80% 3Q02 4Q02 Events of the quarter - Oi Gross Revenue (R$ Million) Additions (in Thousand) 366 Services 34% 184 21% Handsets 66% 79% 3Q02 4Q02 Net Additions 4Q02 * Region I (Dec 02) 8.9% Oi Band A+B 43% 57% Oi Band A+B 91.1% * - does not include TIM. Band B net adds were estimated

  7. TNEConfence Call – 4Q02 6,584 6,545 1,966 1,675 1,693 1,581 4Q02 4Q01 4Q02 4Q01 2002 2001 Costs & Expenses TNL TMAR

  8. TNEConfence Call – 4Q02 Cost/ Expenses Performance (R$ Million) % Gross Revenue 17.1% FY01 14.7% FY02 6.6% 5.7% 5.0% 3.8% Personnel Interconnection Bad Debt

  9. TNEConfence Call – 4Q02 5.7% 5.6% 5.2% 3.8% 4.2% 3.0% 2.8% 2001 2002 4Q01 1Q02 2Q02 3Q02 4Q02 Bad Debt Provisions

  10. TNEConfence Call – 4Q02 5,290 3,558 Ebitda (R$ Million) FY01/ FY02 Ebitda Margin 50.0% 35.2% 44.6% 44.0% 1999 2000 2001 2002 50.7% 47.9% 41.7% 39.1% 1Q02 2Q02 3Q02 4Q02

  11. TNEConfence Call – 4Q02 Contax 3% Oi TMAR 51% 46% 10,061 78.0% 36.1% 34.5% 2,031 9.4% 1999 2000 2001 2002 Capex Capex/ Net Revenue (TMAR) - % FY01/ FY02 (R$ Million) 2002 Breakdown R$ 2,031 million

  12. TNEConfence Call – 4Q02 Free Cash Flow 2002 1,953.5 -1,393.8 165,1 4,172.3 -2,013.4 3,863.1 -271.0 1.887.9 -415.6 Net Profit Deprec./ Interest and Working Others Oper. Cash Capex Others Free Cash Flow Amort. Mon Var. Capital Flow 2001 42.6 4,928.3 -10,834.2 870.7 780.6 3,094.0 140.4 -5,905.9 Net Profit Deprec./ Interest and Working Others Oper. Cash Capex Free Cash Flow Amort. Mon Var. Capital Flow

  13. TNEConfence Call – 4Q02 Debt Profile – Net Debt (R$ Million) 9,128 9,121 9,006 Pegasus 448 - 8,317 8,673 1Q02 2Q02 3Q02 4Q02

  14. TNEConfence Call – 4Q02 4Q02 4Q01 Var.% Net Debt 9,121 7,703 18.4% Suppliers 1,635 2,199 -25.6% Other Account playable 362 778 -53.5% Total 11,117 10,680 4.1% Debt Profile – by type

  15. TNEConfence Call – 4Q02 Debt Profile – Maturity 28% 18% 18% 16% 9% 5% 4% 2003 2004 2005 2006 2007 2008 2009 onwards

  16. TNEConfence Call – 4Q02 5.2% 8.9% 11.3% 74.6% Short Term Swap Swap to Marturity Unhedged Position Dolar Linked Debt Profile Short Term Swap/ Swap to Maturity Hedge Structure USD MM 113% 700 132% 77% 600 46% 500 72% 400 300 200 100 0 2003 2004 2005 2006 2007 onward Current Hedge Book Hedging Demand

  17. TNEConfence Call – 4Q02 Outlook • Lines in Service • Revenue • CAPEX • Bad Debt Provision • EBITDA • Net Debt

  18. TNEConfence Call – 4Q02 Q&A Session

  19. TNEConfence Call – 4Q02 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 Investor Relations Rua Humberto de Campos, 425 / 7º andar Leblon Rio de Janeiro -RJ Phone: ( 55 21) 3131-1314/1313/1315/1316/1317 Fax: (55 21) 3131-1155 E-mail: invest@telemar.com.br Visit our website: http://www.telemar.com.br/ri “Safe Harbor” Statement

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