Bill Gates to Speak At EXPO'98; PT and Telepac to Provide Leading Edge Videoconference Technology

Business Wire, Sept 8, 1998

LISBON, Portugal--(BUSINESS WIRE)--Sept. 8, 1998--Portugal Telecom (NYSE: PT; BVL: PTCO.IN) announced today that on September 9th, 1998 at 12:00 PM, a conference will be held at EXPO'98 where Microsoft Chairman Bill Gates will be the featured speaker. The discussion topic will be "Digital Nervous Systems and Their Contribution to Organizational Success."

Portugal Telecom and its data communication subsidiary, Telepac, will provide the technology to facilitate transmission of the conference over the Internet. In partnership with Microsoft, PT and Telepac have assembled a customized data framework which supports the demand for this important event, and is fully compatible with the multimedia network already operating at EXPO'98.

Portugal Telecom has extended OceaNet98 (its high-speed intranet reinforced by ATM) to the Camoes Theater, where the conference is to be held. This will enable access to Telepac's backbone at PT's Headquarters -- where there will be coverage of the conference viathe Internet-- and allow for the installation of a Video Server using Microsoft's NetShow software to transmit the conference to viewers inside EXPO'98.

The conference can be accessed on OceaNet98's website at www.oceanet98.pt and on Microsoft's (www.microsoft.com) website as well.

Portugal Telecom, privatized in 1995, is the principal telecommunications provider offering local, domestic long distance and international telephone service throughout Portugal. Additionally, PT and its subsidiaries, the Group, offer domestic mobile services, data communications, Internet access and related services, cable television, transmission of broadcasting signals, telex and a variety of other telecommunication services. A secondary offering occurred in June 1996, and a third offering took place in October 1997. Portugal Telecom is listed on the Lisbon and New York Stock Exchanges and traded on London SEAQ International. Information may be accessed on Bloomberg under the symbol PT, on the Reuters 2000 Service under the symbol PT.N and on Quotron under the symbol PT.

    CONTACT:  Portugal Telecom
               Jorge Castela
               351-1-500-1701 / 500-8739
                    or
               Taylor Rafferty Associates
               James P. Prout
               212/889-4350