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

To: Steve Fancy who wrote (1329)	3/26/1998 4:30:00 PM
From: TOPSID877	Read Replies (1) \| Respond to of 22640

Yahoo! in its "research" section on TBR now lists the X-dividend date as April 3 (unlike the late April date from last year shown on most other sources). Also, the dividend amount is shown as an increased $3.75/share. Has anyone heard about this year's TBR X-dividend date and its amount? I believe Telebras has a U.S. investor relations office, but I have no info on contacting them.

To: Steve Fancy who wrote (1329)	3/26/1998 4:34:00 PM
From: Steve Fancy	Respond to of 22640

Here's a response from TBR on my first batch of questions. Not sure if I somehow missed the advisor contract signing or they're referring to something else. Will research this later today. sf ===================================== Subject: Re: Monthly earnings Date: Thu, 26 Mar 1998 17:54:11 -0300 From: "Investors"<investors@telebras.com.br> To: smfmlf@centuryinter.net Dear Mr Fancy 1) Telebr s monthly earnings for January 31, 1997 was released on Monday 24th, 1997. They are released on a monthly basis as a courtesy for the purpose of avoiding market speculations, being released normally on a 45 days basis after closing of the fiscal month. 2) Advisor contracts for evaluation of Telebras signed on February 27 with BNDES. 3) Telebr s investors will receive shares in 12 holdings companies, before privatization. American stock exchanges other than NYSE might be considered as partial solution for the listing process. 4) If you have any further question, do not hesitate to e-mail me. Respecfully Lorival Silva Investor Relations phone 55 61 415 2537 fax 55 61 322 4153

To: Steve Fancy who wrote (1329)	3/26/1998 4:46:00 PM
From: Steve Fancy	Respond to of 22640

Subject: Re: 8 new wireless companies Date: Thu, 26 Mar 1998 18:29:05 -0300 From: "Investors"<investors@telebras.com.br> To: smfmlf@centuryinter.net Dear Mr Steve Fancy As to your question I would like to inform that new 26 cellular companies were incorporated on January , 1998. All they filed a registration statement at CVM (the Brazilian SEC ) in late March, 1998 and are awaiting for the approval for listing at the Brazilian stock exchanges or over-the-counter markets, depending on their size. The 26 new companies were added "Celular" to their former names, e.g., Telebras¡lia Celular. For the would be regional 8 new wireless holdings companies there are no formal or informal names yet. The geographical areas are the following: Area - States 1 and 2 - Sao Paulo 3- Rio de Janeiro and Espirito Santo 4- Minas Gerais 5- Paran and Santa Catarina[ 6-Rio Grande do Sul 7-Goi s, Tocantins, Mato Grosso do Sul, Mato Grosso, Rond“nia, Acre and Distrito Federal 8-Amazonia, Roraima, Amap , Par and Maranhao I look foward to hearing from you soon Respectfully Lorival Silva IR 55 61 415 2537 fax 55 61 322 4153 e-mail: lorival@telebr s.com.br De: smfmlf @ centuryinter.net em 26/03/98 11:49 EST Favor Responder a smfmlf@centuryinter.net Para: Investors/Telebras cc: Assunto: Re: 8 new wireless companies

To: Steve Fancy who wrote (1329)	3/26/1998 5:08:00 PM
From: Steve Fancy	Respond to of 22640

If I'm understanding IR, they split and listed the wireless portions of the 26 subsidiaries separately and haven't actually combined them into 8 companies yet. Seems like an unnecessary step doesn't it? Per the other response I received today, they'll just have to go through the process again while regrouping. Anyway, our privatization list of companies stands as follows: 1. Telesp (fixed line only) - est. value US3.2B - Sao Paulo 2. Telenorte (fixed line only) - est. value US1.0B - Rio de Janeiro, Minas Gerais, Esp¡rito Santo, Par , Amap , Amazonas, Roraima and the northeastern states. 3. Telesul (fixed only) - est. value US2.4B - Santa Catarina, Paran , Mato Grosso, Mato Grosso do Sul, Rond“nia, Acre, Goi s and Tocantins states, Federal District. 4. Embratel (long distance) 5. No Name Celular 1 - Sao Paulo 6. No Name Celular 2 - Sao Paulo 7. No Name Celular 3 - Rio de Janeiro and Espirito Santo 8. No Name Celular 4 - Minas Gerais 9. No Name Celular 5 - Paran and Santa Catarina 10. No Name Celular 6 - Rio Grande do Sul 11. No Name Celular 7 - Goi s, Tocantins, Mato Grosso do Sul, Mato Grosso, Rond“nia, Acre and Distrito Federal 12. No Name Celular 8 - Amazonia, Roraima, Amap , Par and Maranhao