Banco Espírito Santo changes its ownership interest in the share capital of EDP

On May 27, 2011, Banco Espírito Santo, S.A. (BES) notified EDP that on May 25, 2011, AVISTAR, SGPS, S.A. (a company that is 100% owned by BES) sold, on the stock exchange market, 20,000,000 ordinary shares of EDP at a price of 2.55 euros, changing its participation in EDP's share capital which now corresponds to 1.48% of the share capital.

On the same date, BES acquired on the stock exchange market 23,000,000 ordinary shares of EDP at an average price of 2.55 euros (3,000,000 shares at a price of 2.550 euros and 20,000,000 shares at a price of 2.555 euros), corresponding to 0.63% of EDP's share capital and 0.63% of the respective voting rights;

BES also informed of the following:

1. The current direct shareholding of BES in EDP amounts to 23,000,000 shares, which represents 0.63% of the company's share capital.

2. The current indirect shareholding of BES in EDP amounts to 54,003,375 shares, which represents 1.48% of the company's share capital.

- Company's in a group relationship with BES or exercising control over the company, which holds 54,000,000 ordinary shares of EDP, corresponding to 1.48% of EDP's share capital and 1.48% of the respective voting rights;

- Members of the Corporate Bodies, which holds 3,375 ordinary shares of EDP, corresponding to 0.0001% of EDP's share capital and 0.0001% of the respective voting rights;

Following these operations, the total participation attributable to BES represents 2.11% of EDP's share capital, corresponding to 2.11% of the voting rights.

The reporting of such transaction is also made pursuant to and for the purposes of Article 248-B of the Portuguese Securities Code, since a person discharging managerial responsibilities of BES is also a person discharging managerial responsibilities of EDP.

EDP – Energias de Portugal, S.A.