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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21194)	8/1/2000 7:56:53 AM
From: Art Baeckel	Read Replies (1) \| Respond to of 22640

EMBRATEL APPOINTS CHIEF FINANCIAL OFFICER Business Wire - July 31, 2000 17:15 Jump to first matched term RIO DE JANEIRO, Brazil--(BUSINESS WIRE)--July 31, 2000--Embratel Participacoes S.A. (Embratel Participacoes or the "Company") (NYSE: EMT; BOVESPA: EBTP3, EBTP4), the Company that holds 98.8 percent of Empresa Brasileira de Telecomunicacoes S.A. ("Embratel"), today announced that Jose Maria Zubiria Embratel's Chief Financial Officer has been appointed Chief Financial Officer of Embratel Participacoes S.A.. Jose Maria Zubiria, former CFO of Avantel, WorldCom's Mexican long-distance telecommunications joint-venture with Banacci, has an extensive financial background. He served in senior financial positions in companies of the telecommunications, banking and petroleum sectors. His experience includes start-ups as well as managing the evolution of state-owned companies into world class entities. Mr. Zubiria has played a leading role in implementation of new strategies, modern systems, restructuring, cross-border financing and structured financial transactions for the companies he served. Management announced the change following their acceptance of Luigi Massimo Giavina Bianchi's request to leave. Mr. Bianchi served as Embratel's CFO for the past five years. During this time, he contributed to prepare the company for privatization and actively participated in the implementation of the changes required to adapt the financial function to the new competitive environment. Embratel would like to thank Mr. Bianchi for his contribution and wish him well in his new pursuits. Management also announces that Mr. Zubiria has been appointed by the Board of Directors to be Director of Investor Relations of Embratel Participacoes S.A.. Embratel is Brazil's main provider of high-speed data transmission and Internet services with the largest fiber-optic broadband network. The company also provides domestic and international long distance voice and 40 other innovative communication services. Embratel has the largest long distance telecommunications network in Latin America, and the only seamless network to cover Brazil nationwide. More than 600km of urban rings in the country's major cities and wireless technology links Embratel's network directly to thousands of clients enabling it to provide end-to end on-net services. Embratel's breadth of service and network reach is unmatched by any other telecommunications company in Brazil. CONTACT: Embratel Participacoes S.A. Silvia M.R. Pereira Investor Relations tel: (55 21) 519-9662 fax: (55 21) 519-6388 email: invest@embratel.com.br or Wallace Borges Grecco Press Relations tel: (55 21) 519-7282 fax: (55 21) 519-8010 email: cmsocial@embratel.net.br