3Q11 - Zon

Wrap-up Despite the difficult macroeconomic environment, ZON continues topost good results in its domestic businesses Good operational performance of the core Triple Play business Despite the decline in revenues due to slowdown of Premiumsubscriptions, optimization of cost structure has enabled continuedEBITDA growth Strong FCF with strongest ever quarterly Cash Flow Excellent results of the Angolan business, on track for EBITDAbreakeven in 201223