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TELE NORTE LESTE PARTICIPAÇÕES S.A. Conference Call 3Q02

TELE NORTE LESTE PARTICIPAÇÕES S.A. Conference Call 3Q02. Agenda. Events of the quarter Financial Results Debt Profile/ Hedge Position Oi Outlook Q&A Session. Slide 2. Anatel Targets: Reaping the Benefits. Oi’s Operational Launching Domestic Long Distance Service

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TELE NORTE LESTE PARTICIPAÇÕES S.A. Conference Call 3Q02

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  1. TELE NORTE LESTE PARTICIPAÇÕES S.A. Conference Call 3Q02

  2. Agenda Events of the quarter Financial Results Debt Profile/ Hedge Position Oi Outlook Q&A Session Slide 2

  3. Anatel Targets: Reaping the Benefits Oi’s Operational Launching Domestic Long Distance Service International Long Distance Service Acquisition process of Pegasus Operating in other regions Slide 3

  4. Results of the New Services • 500,000 clientes in just 3 months! Coverage • 2,300 operational sites • 14 states / 396 cities covered • Domestic & International Roaming DLD (Interregional): R$ 18 million in 60 days! ILD (International): R$ 2 million in 90 days! Slide 4

  5. Exchange Rate (USD) EMBI Brazil ( JP Morgan) Jul-02 Jun-02 Jan-02 Apr-02 Mar-02 Aug-02 Feb-02 May-02 Sep-02 Dec-01 Jul-02 Jun-02 Jan-02 Apr-02 Mar-02 Aug-02 Feb-02 May-02 Dec-01 Sep-02 Economic Environment R$ 3.89 2,396 points 1,527 points R$ 2.84 870 points R$ 2.35 Slide 5

  6. +17% Revenue Growth – Net Revenues (R$ million) Main Drivers: Local Services LD Services Wireless Services (Oi) 3Q01/ 3Q02 9M01/ 9M02 Slide 6

  7. Gross Revenue Growth - 3Q02/ 3Q01 Service Breakdown 50% 37% 19% Average = 18% 14% 4% 17% Local Long Distance Pay Phone Data Fixed Mobile Network Usage Slide 7

  8. Cost / Expenses Performance (R$ million) Slide 8

  9. 3Q01/ 3Q02 9M01/ 9M02 Ebitda Margin 51% 48% 49% Consolidated 42% TMAR 33% 17% 3Q01 4Q01 1Q02 2Q02 3Q02 Ebitda (R$ Million) Slide 9

  10. Financial Results 16 235 3Q02 2Q02 Financial Revenue 163 136 Interest on Loans/ Dividends 236 187 Monetary & Exchange Variations 556 333 Atualizations (CPMF, JCP, Div, 133 68 Contingencies) Premiun Amortizations, PIS, Confins 94 41 Others 3 7 Financial Expenses 1.021 636 Net Financial Result 859 500 Exchange Loss (Mn): Monetary and Exchange Var.: R$ 556 Net Interest Expenses: R$ (228) Dollar Based Financial Rev.: R$ (93) TOTAL: R$ 235 Cash Effect = 6.8% Accounting Effect Slide 10

  11. Capex (R$ Billion) 3Q01/ 3Q02 9M01/ 9M02 120% Capex/ Net Revenue 110% 85% 79% 16% 14% 16% 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 3Q02 Slide 11

  12. 3Q02 Consolidated Net Result Main Effects Net Loss (R$ 382 Mn) (R$ 235 Mn) (R$ 297 Mn) F/X Losses Oi’s Net Loss Slide 12

  13. Debt Profile – Net Debt (R$ Million) Slide 13

  14. Debt Profile Local 0.5% IGPM US$ 13% CDI Yen (Swap to US$) 20% TJLP CY Basket 52% Fixed Reais Rate 15% Libor Cost of Debt Currency % Cost US$ 46 Libor + 5% p.a Yen 11 1.7% p.a Basket 10 12.3% p.a Real 33 16.0% p.a Debt Currency Breakdown Interest Index 10% 33% 11% 46% Slide 14

  15. Debt Profile - Maturity Slide 15

  16. Debt Profile Short Term Swap/ Swap to Maturity Hedge Structure USD MM 910 810 5.5% 710 13.1% 13.8% 610 103% 75% 142% 510 72% 50% 410 310 67.6% 210 Short Term Swap 110 Swap to Maturity 10 Unhedged Position 2003 2004 2005 2006 2007 onward Dolar Linked Current Hedge Book Hedging Demand Slide 16

  17. Oi Slide 17

  18. Outlook Slide 18

  19. Q&A Session Slide 19

  20. “SAFE HARBOR” STATEMENT 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 / 8º 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 new website: http://www.telemar.com.br/ri

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