SC TO-T/A

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE TO

(RULE 14d-100)

TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR 13(E)(1) OF THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TELEMIG CELULAR PARTICIPAÇÕES S.A.

(Name of Subject Company)

TCO IP S.A.

a subsidiary of

VIVO PARTICIPAÇÕES S.A.

(Names of Filing Persons—Offeror)

Preferred Shares, no par value, and American Depositary Shares, each representing two Preferred Shares	87944E105
(Title of classes of securities)	(CUSIP number of preferred stock)

Carlos Raimar Schoeninger

Financial Planning and Investor Relations Director

Av. Dr. Chucri Zaidan, 860

1 andar-lado A-Morumbi

04583-110 Sao Paulo

Tel: +5511 7420-1170

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)

Copies to:

Diane G. Kerr, Esq.

Davis Polk & Wardwell

450 Lexington Avenue

New York, New York 10017

Telephone: (212) 450-4000

CALCULATION OF FILING FEE

Transaction valuation* $271,024,884.9 Amount of filing fee** $10,651.28

* Estimated for purposes of calculating the filing fee pursuant to Rule 0-11(d) only. The Transaction Valuation was calculated assuming the purchase of 7,257,020 preferred shares, no par value (including preferred shares represented by American Depositary Shares), other than shares owned directly or indirectly by the Filing Persons, at a purchase price of R$63.90 in cash per preferred share. As of April 4, 2008 there were 22,741,002 preferred shares outstanding (including preferred shares represented by American Depositary Shares), of which 969,932 preferred shares are owned directly or indirectly by the Filing Persons. As a result, this calculation assumes the purchase of 7,257,020 outstanding preferred shares. The Transaction Value was calculated in Brazilian reais (R$) and converted into U.S. dollars at the noon buying rate as published by the Federal Reserve Bank of New York on April 4, 2008 of US$1 = R$1.7110.

x Check box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid.  Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

Amount Previously Paid:    $10,651.28	Filing Party:    TCO IP S.A., VIVO PARTICIPAÇÕES S.A.
Form or Registration No.:    Schedule TO-T	Date Filed:    April 8, 2008

** The filing fee, calculated in accordance with Rule 0-11 of the Securities Exchange Act of 1934, as amended, and Fee Rate Advisory No. 5 for fiscal year 2007, is US$39.30 per US$1 million (prorated for amounts less than US$1 million) of the aggregate Transaction Value.  Accordingly, the filing fee is calculated by multiplying the aggregate Transaction Valuation by 0.00003930.

¨ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

x third-party tender offer subject to Rule 14d-1.

¨ issuer tender offer subject to Rule 13e-4.

¨ going-private transaction subject to Rule 13e-3.

¨ amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer. ¨

Items 1 through 9 and Item 11.

This Amendment No. 1 amends and supplements the Tender Offer Statement on Schedule TO (the “Schedule TO”) filed with the Securities and Exchange Commission (“SEC”) on April 8, 2008 by Vivo Participações S.A., a corporation organized under the laws of Brazil (“Vivo”) and TCO IP S.A. (“TCO IP”), a company controlled by Vivo Participações S.A. and Vivo S.A., both corporations organized under the laws of Brazil and, with Vivo S.A. being wholly-owned by Vivo Participações. The Schedule TO relates to the offer by TCO IP to purchase up to 7,257,020 preferred shares, including preferred shares represented by American Depositary Shares (the “ADSs”), of Telemig Celular Participações S.A., a corporation organized under the laws of Brazil (the “Company”), at a price of R$63.90 per preferred share (for reference, equivalent to approximately U.S.$74.68 per ADS based on (i) one ADS representing two preferred shares and (ii) the average of the buy and sell U.S. dollar-Brazilian real exchange rates indicated under transaction “PTAX 800, option 5” published by the Central Bank of Brazil through the SISBACEN system at 7:00 p.m., Brasilia time, on April 4, 2008, which was U.S.$1.00 = R$1.711), in cash, net of stock exchange and settlement fees, any applicable brokerage fees or commissions and applicable withholding taxes, upon the terms and subject to the conditions set forth in the offer to purchase dated April 8, 2008 (the “Offer to Purchase” ) and in the related letter of transmittal (the “Letter of Transmittal”), copies of which are annexed to and filed with the Schedule TO as Exhibits (a)(1)(A) and (a)(1)(B), respectively (which, together with any amendments or supplements thereto, collectively constitute the “Offer”) and in the related Brazilian offer documents, which are annexed to and filed with the Schedule TO as Exhibit (a)(1)(C).

Item 12. Exhibits.

Exhibit No.	Description
(a)(1)(C)	Notice of Voluntary Tender offer for Acquisition of preferred Shares issued by Telemig Celular Participações S.A., and Telemig Celular S.A. dated April 8, 2008 (English translation).
(a)(5)(D)	Valuation Report as per CVM Instruction 361 prepared by BES Investimento do Brasil S.A. —Banco de Investimento for Vivo Participações S.A. on Telemig Celular Participações S.A. and Telemig Celular S.A.

SIGNATURE

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: April 10, 2008

TCO IP S.A.
By:	/s/ Ernesto Gardelliano
	Name: Ernesto Gardelliano
	Title: Chief Financial Officer

Vivo Participações S.A.
By:	/s/ Ernesto Gardelliano
	Name: Ernesto Gardelliano
	Title: Investor Relations Officer

EX-99.(A)(1)(C)

Exhibit (a)(1)(c)

NOTICE OF VOLUNTARY TENDER OFFER FOR ACQUISITION OF PREFERRED SHARES ISSUED BY

[LOGO] 

TELEMIG CELULAR PARTICIPAÇÕES S.A.

Publicly-held Company

CNPJ/MF No. 02.558.118/0001-65

ISIN Code Preferred shares BRTMCPACNPR1

TELEMIG CELULAR S.A.

Publicly-held Company

CNPJ/MF No. 02.320.739/0001-06

ISIN Code Preferred shares BRTMGCACNPB4; BRTMGCACNPC2;

BRTMGCACNPE8; BRTMGCACNPF5; BRTMGCACNPG3

ON BEHALF OF AND FOR

TCO IP S.A. and

VIVO PARTICIPAÇÕES S.A.

INTERMEDIARY INSTITUTION

BES SECURITIES DO BRASIL S.A. CORRETORA DE CÂMBIO E VALORES MOBILIÁRIOS

Subject to the conditions provided in this Notice and in the legislation and rules in force, BES Securities do Brasil S.A. Corretora de Câmbio e Valores Mobiliários (“BES Securities” or “Intermediary Institution”), as intermediary institution retained to act on behalf of and for TCO IP S.A., a closely-held corporation, incorporated under the laws of the Federative Republic of Brazil (Brazil), enrolled with the Brazilian Corporate Taxpayer Registry CNPJ/MF under Nr. 04.225.487/0001-61, with offices at SC/Sul, Quadra 2, Bloco C, Nr. 256, 3rd pavement, Ed.Toufic, Plano Piloto, in the city of Brasilia, Federal District, Brazil (“Offeror”) and Vivo Participações S.A., a publicly-held corporation incorporated under the laws of Brazil, with offices at Avenida Roque Petroni Jr, Nr. 1464, Morumbi, in the City of São Paulo, State of São Paulo, Brazil (“Vivo Par”), this last one as a shareholder of the Offeror, is hereby submitting to the holders of (i) preferred shares issued by Telemig Celular Participações S.A. (“Telemig Participações”); and (ii) all classes of preferred shares of Telemig Celular S.A. (“Telemig Celular”) (being Telemig Participações and Telemig Celular referred to, collectively, as “Companies”), these Voluntary Tender Offers for the acquisition of such preferred shares (collectively “Offers”), in accordance with the procedures set forth in Instruction Nr. 361, of March 5, 2002 (“CVM Instruction 361”), of the Brazilian Securities Exchange Commission (Comissão de Valores Mobiliários—“CVM”) and the terms and conditions of this Notice stated below.

1. The Voluntary Offers

1.1. Legal Grounds.

On August 2, 2007, Vivo Par entered into a Stock Purchase Agreement with Telpart Participações S.A. (“Telpart”), for the acquisition of control of Telemig Participações and Tele Norte Celular Participações S.A., and indirectly, the acquisition of control of Telemig Celular and Amazônia Celular S.A., having also acquired the preferred shares of the referred companies held by Telpart. The consummation of the acquisition mentioned above (“Acquisition of Control”) was subject to some conditions precedent among which was ANATEL prior approval.

The execution, by Vivo Par, of the Stock Purchase Agreement with Telpart was approved by Vivo Par’s Board of Directors at a meeting held on August 2, 2007, “ad referendum” of the Shareholders’ Meeting, which was held on August 21, 2007, and approved the terms and conditions of the transaction. Also on August 02, 2007 the Board of Directors of Vivo Par approved, upon completion of the Acquisition of Control, the carrying out of the Voluntary Tender Offers for acquisition of preferred shares object of this Notice, pursuant to the Notice of Material Fact published on August 2, 2007 (“Notice of Material Fact”).

In view of the Acquisition of Control, Vivo Par undertook the obligation to make a public offer for acquisition of common shares to comply with the provisions of article 254-A of Law 6,404/76, object of other notice, to be submitted to CVM approval within the legal term. However, on December 20, 2007, Vivo Par entered into a Stock Purchase Agreement with Telemar Norte Leste S.A. (“Telemar”) for the sale to the latter of all shares of Tele Norte acquired from Telpart, for the same price, as disclosed by the Vivo Par in the notice of material fact dated of December 20, 2007.

On April 03, 2008, upon fulfillment of all conditions precedent, it was implemented the transfer of the control of Telemig Participações (and, indirectly, of Telemig Celular S.A), as well as of Tele Norte Celular Participações S.A (“Tele Norte”) (and, indirectly, of Amazonia Celular S.A) to Vivo Par.

On the same day, Vivo Par transferred the totality of the common and preferred shares of Tele Norte acquired from Telpart, to Telemar, for the same price and same conditions set forth in the Stock Purchase Agreement with Telpart.

1.2. Shares Object of the Offers and Prices.

1.2.1. Each of the voluntary tender offers for the acquisition of preferred shares of Telemig Participações and Telemig Celular is referred to as “Offer” and, collectively, as “Offers”. Except if otherwise stated in this

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Notice, each Offer is made separately; accordingly, one Offer is not conditional to the other Offer, and the change, amendment or non completion of an Offer does not necessarily result in the change, amendment or non completion of the other Offer.

1.2.2. Pursuant to the terms and conditions of this Notice and the (Brazilian) laws and regulations in force, the Intermediary Institution, by order and on account of the Offeror, agrees to acquire, according to the terms and conditions described hereunder, the amount of preferred shares equivalent to up to 1/3 of each class of preferred shares that were issued by each of the Companies and are outstanding in the market (“PN Shares” or “Shares”), in respect to each of the Offers, as follows:

NEGOTIATION CODE	MAXIMUM AMOUNT TO BE ACQUIRED
TMCP4L	7,257,020
TMGC6L (Class B)	65
TMGC7L (Class C)	6,923
TMGC11L (Class E)	1,276
TMGC12L (Class F)	4,261
TMGC13L (Class G)	87,757

1.2.3. All PN Shares to be sold by the shareholders that accept the Offers shall be fully paid in, free and clear of any lien, encumbrance or restriction to the free transfer of any nature, as a condition to their acquisition in the context of the Offers.

1.2.4. In the event that during the period from the date hereof to the Auction is held any change occurs in the number of shares comprising the capital stock of each of the Companies as a result of bonuses, splits, reverse split or conversions, then the maximum number of PN Shares per class issued by each of the Companies to be acquired under the term hereunder will be automatically adjusted at the same proportion. In such case, the São Paulo Stock Exchange—BOVESPA (“BOVESPA”) shall disclose the new maximum number of PN Shares (per class) to be acquired in its information system. In this Notice, the maximum number of PN Shares of each class issued by each of the Companies to be acquired by means of each Offer, set forth in item 1.2.2 above (as adjusted), is referred to as the “Maximum Amount of Shares”.

1.3. If the acceptance of any of the Offers is higher than the Maximum Amount of Shares per class object of such Offer, the number will be apportioned among the respective shareholders accepting such Offer (per class), in a way that in no event the Maximum Amount of Shares per class object of any Offer is exceeded.

1.4. The Offeror agrees to acquire the PN Shares, in accordance to this Notice, for the following prices per PN Share as listed below, (being each price per class of preferred share issued by each of the Companies referred to as “Price” and collectively, as “Prices”:

COMPANY	PRICE OFFERED PER PN SHARE OF EACH OF THE EXISTING CLASSES		PREMIUM OF APPROXIMATELY % ON THE WEIGHTED AVERAGE OF THE LAST 30  TRADING SESSIONS UNTIL 08/01/07 INCLUSIVE		PREMIUM OF APPROXIMATELY % ON THE WEIGHTED AVERAGE OF THE LAST 90  TRADING SESSIONS UNTIL 08/01/07 INCLUSIVE
Telemig Participações	R$	63.90	25	%	36	%
Telemig Celular	R$	654.72	25	%	29	%

1.4.1. The Price per PN Share of Telemig Participações disclosed in the Notice of Material Fact was adjusted to reflect a reverse share split approved at the shareholders’ meeting of Telemig Participações held on July 12, 2007, and completed on August 23, 2007, which resulted in the values mentioned in item 1.4 above; however, their absolute values remain unchanged in relation to those previously disclosed. The price of Telemig Celular remained unchanged in view of the fact that in this company the reverse split did not happened within this period.

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1.5. The Prices offered for acquisition of the different classes of PN Shares issued by Telemig Celular are the same, and the premium was calculated based on the value of preferred shares of Class C (TMGC7), which is the class of PN Shares of said company with the highest liquidity ratio.

1.6. The Price for each of the Offers corresponds to a premium of approximately twenty-five per cent (25%) on the weighted average trading price of the PN Shares of the respective Companies on the BOVESPA, at the thirty (30) Brazilian trading days prior to August 1, 2007, inclusive. The premiums mentioned in 1.4 above, on the a weighted average trading price of the PN Shares of the respective Companies at the ninety (90) Brazilian trading days prior to August 1, 2007, is exclusively for reference purposes.

1.7. The Price shall be paid by the Offeror in cash on the financial settlement date of the Auctions, as provided in item 3.3 below and will not be monetarily adjusted.

1.8. Dividends. In case any of the Companies declares any dividend or interest on shareholders’ equity by and until the financial settlement date of the Offers, the payments of the dividends and/or interest will be made to the shareholders of each of the Companies that are registered as owners or beneficiaries of the respective PN Shares on the date of said declaration.

2. Registration for the Auctions

2.1. Two (2) independent auctions will be held at the trading electronic system of BOVESPA (each, an “Auction” and collectively, “Auctions”), considering that PN Shares of each of the Companies will be traded at each of the Auctions. The Auctions for acquisition of the PN Shares issued by Telemig Celular and for the acquisition of PN Shares issued by Telemig Participações will be held on May 12, 2008 (“Auctions Date”) at 03:00 p.m. and 04:00 p.m. Brazil time, respectively.

2.1.1. A holder of the respective PN Shares of any of the Companies, wishing to accept the respective Offer, must register by 6:00 p.m. Brazil time, on the Brazilian business day immediately preceding the Auction Date, that is, by May 9, 2008, with the Intermediary Institution (also referred to as “Broker”) or any other broker authorized to operate with the BOVESPA (together with the Broker indistinctly referred to as “Brokers”).

2.1.2. Documents Required for Qualification. In order to qualify for the Auctions, each holder of PN Shares of the any of the Companies shall enroll himself or herself with his or hers respective Broker, indicating the number of Shares he or she intends to sell. In case a holder of PN Shares of each of the Companies is not already enrolled with a Broker, he or she shall submit the following documents, as applicable (provided, however, for enrollment purposes, that the respective Broker may, at its discretion, request any information and/or additional documents):

(i) individual: certified copy of the Individual Taxpayer Registry—CPF, of the Identity Card (RG) and address proof. Representatives of estates, minors, civilly disable and shareholders represented by proxy shall submit documentation in which the representation powers are granted and certified copies of the CPF and Identity Card (RG) of the representatives. The representatives of estates, minors and civilly disable shall further submit the respective judicial authorization; or

(ii) legal entity: certified copy of the last bylaws or articles of association in force, enrollment card with the Corporate Taxpayer Registry—CNPJ, corporate documentation (minutes of election of the representative) granting representation powers and certified copies of the CPF, Identity Card (RG) and address proof of such representatives, and investors resident abroad may be required to submit other representation documents.

2.1.3. PN Shares Held in Custody of Banco ABN Amro Real. PN Shares deposited in Banco ABN Amro Real (“ABN Bank”), as a custodian of the book-entry shares of the Companies, in accordance with the procedures set forth in items 2.1.1 and 2.1.2 above, shall be deposited in advance by a Broker with the Brazilian

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Settlement and Custody Company (“Companhia Brasileira de Liquidação e Custódia CBLC”), as per the rules, terms and procedures of CBLC, which procedures shall be completed by 6:00 p.m. on the Brazilian business day immediately prior to the Auction Date, that is, by May 9, 2008.

2.1.4. Shareholders who hold PN Shares deposited in CBLC must register with any of the Brokers as referred to in items 2.1.1 and 2.1.2 above.

2.1.5. PN Shares deposited in custody with CBLC. Shareholders who wish to sell PN Shares shall, through his or her custodian with the CBLC, by 12:00 noon on the Auction Date, transfer his or her Shares to the portfolio (carteira) Nr. 7105-6, open under his/ her name and maintained in custody with the CBLC exclusively for this purpose.

The PN Shares deposited in accordance with items 2.1.3 and 2.1.4 above, and which become the object of a Sales Order (as defined to in item 2.1.9 below) will be unavailable for negotiation upon registration of the respective Sales Order until the respective Offer settlement. Should a shareholder intend to negotiate PN Shares held in custody under the provisions of items 2.1.4. and 2.1.5, these PN Shares should be unblocked prior to the negotiation.

2.1.6. Sales Orders in respect of which corresponding PN Shares have not been deposited in custody with CBLC under the portfolio (carteira) Nr. 7105-6 of CBLC will be cancelled.

2.1.7. Owners of Investments Made in Accordance with Resolution no 2,689 of the Brazilian Monetary Council—CMN (“CMN”). A shareholder that has invested in PN Shares of each of the Companies through the mechanism set up by CMN Resolution no 2,689 (a “Resolution 2,689 Investor”), in addition to the documents described in lines (i) and (ii) of item 2.1.2, as the case may be, shall also provide to the relevant Broker, prior to the Auction Date, and in addition to any other document that may be required by the relevant Broker, a document attesting its registration number with CVM and BACEN (in the last case the so-called RDE-Portfolio number). If such Resolution 2,689 Investor is a foreign individual, he or she must also provide a certified copy of his or her Individual Taxpayer Registration (CPF).

2.1.8. Acceptance of the Offers. The acceptance of Offers shall be made by Brokers by order of shareholders of the PN Shares which complied with the registration requirements set out by item 2.1 hereof; the Broker shall name the amount of PN Shares of the each of the Companies to be sold by each shareholder represented by them in the Auctions.

2.1.9. Procedure of the Brokers. Brokers representing the shareholders who complied with the registration requirements set out by item 2 shall name to the relevant Broker the amount of PN Shares of the each of the Companies to be sold as referred to in 2.1.8. above (“Sale Orders”) by 12:00 noon on the Auction Date using the following codes: (i) Telemig Participações: code TMCP4L; and (ii) Telemig Celular: codes TMGC6L (PNB), TMGC7L (PNC), TMGC11L (PNE), TMGC12L (PNF), TMGC13L (PNG).

2.1.10. Implications of Accepting the Offers. By accepting the Offers, each shareholder agrees to transfer to the Offeror the ownership of its PN Shares issued by each of the Companies, according to the terms and conditions provided herein, free and clear of any liens or restrictions of any nature.

2.1.11. Irrevocable and Irreversible Acceptance. The acceptance of the Offers and consequently, the sales Order of PN Shares are irrevocable and irreversible after the opening Auctions.

2.2. Each shareholder that accepts these Offers is responsible for taking all the necessary actions for timely transferring to CBLC custody the shares that it intends to sell. The Offeror alerts the shareholders of each of the Companies that the procedures on verification of documents and transfer of shares described above are subject to rules and internal procedures of Brokers, custodians and CBLC, so that such shareholder shall take all measures in advance for purposes of registration in the respective Auctions.

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2.3. Qualification of Holders of American Depositary Shares of Telemig Participações (“ADSs”). There is no separate tender offer being made in the United States to acquire the ADSs. The Offer by Telemig Participações, however, shall be extended to ADS holders of Telemig Participações in accordance with the following procedures:

2.3.1. Holders of ADSs representing PN Shares of Telemig Participações that wish to accept the respective Offer may qualify to participle of the Auction (i) through The Bank of New York, as receiving agent (“Receiving Agent”), or (ii) directly if such holders (a) withdraw their PN Shares upon surrender of their ADSs with the Receiving Agent and (b) convert themselves into Resolution 2,689 Investor and in such capacity, offer such PN Shares directly for sale at the respective Auction.

2.3.2. Holders of ADS that wish to qualify themselves through the Receiving Agent shall instruct the Receiving Agent on the terms described in item 2.3.2.2 below. The Receiving Agent will be responsible for executing the agreement with the Brokers in order to offer the underlying PN Shares for sale at the Auction, canceling the respective ADS.

2.3.2.1 Only holders of record of ADSs may submit them to the Receiving Agent accompanied with the respective transmission certificate (“Transmission Certificate”) for qualification of the underlying PN Shares to the Auction of the company issuer of such ADRs. The beneficiary of the ADSs who wishes to participate in the Offer of PN Shares of Telemig Participações shall, after filling in the proper form, instruct the bank, the dealer or financial institution, who is the holder of record of the ADS (“Holder of Record”), to transfer the ADRs to the Receiving Agent by means of the competent depositary institution. In case a beneficiary authorizes the sale of its ADS, its ADRs will be offered for sale at the Auction of Telemig Participações, unless otherwise specifically instructed in the form. The instructions form shall be delivered to the Holder of Record in a adequate term prior to the date of the Auctions, in order to allow the Holder of Record to timely transfer on behalf of the beneficiary the sale order of the ADS to the Receiving Agent, in order to make the qualification to the Auction of Telemig Participações possible, in accordance with 2.3.2.2 below.

2.3.2.2. The Holder of Record shall timely send the Transmission Certificate to the Receiving Agent together with the certificates that proof the ownership of the ADS and other documents necessary prior to the term for qualification to the Auction.

2.3.2.3. Additional information in regard and question concerning the procedures, conditions and requirements for the sale, in accordance with this Notice, of the PN Shares of Telemig Participações represented by ADS, can be obtained by the US information agent, Mackenzie Partners, Inc, at (800) 322-2885 (toll call), and the Brazilian information agent BES Securities for the Offer, at the telephone number: 55 11 3074-7061.

3. Terms and Conditions of the Auctions and Financial Settlement of the Offers

3.1. Independence. Each of the Auctions will be held independently of the others. The Prices for each of the Offers to be paid by the Offeror will not vary during the Auctions (fixed price), except in accordance with the provisions of item 3.2 below.

3.2. Interference in the Auctions. A potential buyer of each total or partial lot of PN Shares may interfere in the Auctions provided that (i) the interfering party has obtained a registration for a concurrent offer with BOVESPA up to 6:00 p.m. on the business day prior to the Auctions; (ii) the value of the concurrent proposal is at least five percent (5%) above the Price of the relevant Offer and (iii) the requirements and procedures set for the respective Offers object of this Notice are met.

3.3. Settlement of Offers. The Offers will be financially settled on a gross settlement basis and in line with the rules set forth by CBLC on the third business day immediately after the Auction Date. After the receipt of funds related to the respective Prices of the PN Shares, CBLC will be responsible for paying the respective custody agents, which will then transfer the total amount of these funds to the shareholders accepting the Offers. CBLC will not guarantee the settlement of any of the Offers.

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3.4. Assurance of Financial Settlement. The Intermediary Institution will assure the financial settlement of the Auctions, except in the event of a concurrent offers.

3.5. Brokerage Costs and Fees. All brokerage costs and fees, including “emolumentos” charged by BOVESPA and the settlement fees charged by CBLC, relating to the purchase will be borne by the Offeror, whereas those relating to the sale will be borne by the respective selling shareholders. The expenses arising from the Auctions, such as brokerage costs and fees, “emolumentos” and fees charged by BOVESPA and/or CBLC will follow the applicable price table on the Auction Date and other legal provisions in force.

3.6. Shareholders wishing to accept any of the Offers by selling their PN Shares in the Auctions must meet the requirements for trading such shares as set out in BOVESPA’s transaction rules.

4. Conditions for Performing, Changing and Revoking the Offers.

4.1. The Offers shall only be valid if none of the following events occur before 9:00 am on the second business day prior to the Auction Date, except if the Offeror waives the respective condition (according to the terms of item 4.1.1.):

1. businesses, conditions, revenues, operations or shareholding structure of any of the Companies or of their direct and indirect subsidiaries undergoes a significant adverse change as a result of any of the following events:

a. the issuance by any governmental body of the Executive, Legislative or Judiciary Branches of any action that:

i. questions, restricts or limits the ability of the Offeror´s capacity to perform the Offers, to hold the shares of any of the Companies, acquire additional shares of any of the Companies, or exercise the rights or receive distributions related to which is entitled;

ii. orders the termination or amendment of the terms and conditions of any license, authorization or concession granted for the business operation of each of the Companies or their direct and indirect subsidiaries;

iii. orders the expropriation, confiscation or limitation to the free disposal of the assets of any of the Companies or of their direct or indirect subsidiaries;

iv. orders the reduction of tariffs or rates charged for the provision of services by each of the Companies or their direct and indirect subsidiaries, or set out additional requirements for investment provision of services or implementation of measures that necessarily increase the costs of each of the Companies or their direct and indirect subsidiaries;

v. suspends, restricts or limits the transactions conducted in the foreign exchange market, or the inflow or outflow of currency in the country;

b. the outbreak of war or civil or political unrest in Brazil or abroad;

c. the occurrence of any natural event, such as, for example, earthquake, flood or similar event, or any external factor that may cause material damage:

i. infrastructure, communication system or public utilities in the states where the each of the respective Companies or any of their direct or indirect subsidiaries provide services or in any other relevant area of the Country; or

ii. assets of each of the Companies and any of their direct and indirect subsidiaries affecting the regular course of their business;

2. general suspension of securities in general or shares or ADS issued by each of the Companies, on BOVESPA or on the New York Stock Exchange for over 24 hours;

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3. at the closing of any trading session, the drop of the BOVESPA index (IBOVESPA) expressed in US dollars (converted at the average exchange ratio for purchase and sale furnished by the Brazilian Central Bank (“BACEN”), Transaction PTAX 800, option 5, published by Brazilian Central Bank Information System (“SISBACEN”) at 6:00 pm on such date) by at least 20% (twenty per cent) in relation to the index as published on April 04, 2008, which was 64,446 points;

4. at the closing of foreign exchange market on any date, the drop (converted at the average exchange rate for purchase and sale furnished by BACEN, Transaction PTAX 800, Option 5, published by the SISBACEN at 6:00 pm on such date) in the value of reais in relation to the US dollar by at least 20% (twenty per cent) in relation to the value of reais to the US dollar as published on April 4, 2008, which was R$1.711/US$1.00

5. considerable change to the applicable rules of the capital markets prevailing in Brazil and in the United States or increase in the rate of taxes that adversely affects or obstructs the completion of Offers by the Offeror;

6. revocation of any governmental authorization necessary for the implementation of Offers or issuance of any act by an authority that obstructs the Offeror to conduct any of the Offers or to impose a requirement for purchasing or selling shares issued by each of the Companies; or

7. imposition of any requirement by the Securities and Exchange Commission (“SEC”) as to material filed in the United States (including Schedule TO and exhibits thereto) that adversely affect or prevent the fulfillment of the Offers by the Offeror.

4.1.1. If at any time between the date of publication of this Notice and 9:00 am on the second business date prior to the Auction Date any of the events mentioned in item 4.1 occurs, the Offeror shall disclose a notice to shareholders clarifying if it will proceed with the Offers (having waived the condition) or if the Offers will no longer be made.

4.2. Each one of the Offers is unchangeable and irrevocable from the publication of this Notice until the commencement of the Auctions, except, however, in the event a subsequent and unforeseen considerable change occurs in the circumstances or the facts existing on this date that results in a substantial increase in the risks taken by the Offeror inherent to any of the Offers, in which case the Offeror may amend or revoke such Offer, publishing an announcement to the market clarifying if it will proceed with such Offer and under which terms and condition, or if such Offers will no longer be made.

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5. Appraisal Report

5.1. Appraisal. BES Investimento do Brasil S.A.—Banco de Investimento (“BESI”) prepared an appraisal report of the Companies relating to the acquisition of the PN Shares discussed herein (“Appraisal Report”), in the form of CVM Instruction no. 361. The base date of the appraisal is August 2, 2007, the date of disclosure of Material Fact. The Appraisal Report contains the calculation of the price of the shares of the Companies, considering the following methodologies: (i) weighted average trading price at stock exchange; (ii) equity value per share; (iii) market multiples; and (iv) average premium offered in similar transactions, as described below:

Company	Methodology	Value per Share
Telemig Participações	Weighted average trading price in the last 12 months prior to August 1, 2007	R$41.97
	Book Value per share (as of December 31, 2007)	R$33.97
	Market Multiples (EBITDA)	R$52.18
	Premium Offered in similar Transactions	Value between R$61.64 and R$63.32
Telemig Celular	Weighted average trading price in the last 12 months prior to August 1, 2007	R$443.20
	Book Value per Share (as of December 31, 2007)	R$451.31
	Market Multiples (EBITDA)	R$810.17
	Premium offered in similar transactions	Value between R$631.15 and R$648.43

5.2. Representation. As per article 8 of CVM Instruction Nr. 361, BES Securities expressly represents that: (i) it does not hold shares issued by the Companies; (ii) it believes that the best methodology described in the Appraisal Report to appraise the PN Shares of the Companies is the premium offered in similar transactions; (iii) there are no conflicts of interest that reduce its independence required by law to perform its functions under the Offers of this Notice; (iv) it received from the Offeror the amount of US$1.0 million (one million U.S. dollars) for the advisory and appraisal services in the twelve-month period prior to the date of publication of this Notice, including the amounts related to the preparation of the Appraisal Report.

6. Information on the Companies

6.1. Telemig Participações and Telemig Celular

6.1.1. Head Office, Jurisdiction and Corporate Object. The head office and jurisdiction of Telemig Celular is located at Rua Levindo Lopes, no. 258, in the City of Belo Horizonte, State of Minas Gerais, Brazil. Telemig Celular is controlled by Telemig Participações, a corporation organized under Brazilian law was incorporated on May 22, 1998 as a result of the spin-off of Telecomunicações Brasileiras S.A.—TELEBRÁS (“Telebras”) during the privatization process of the telecommunications sector. Telemig Participações is engaged in the telecommunications business by providing Personal Mobile Services (“SCM”) and by granting concession or authorization for providing such services. Telemig Celular’s main corporate object is the exploitation of PCS in Area 4 of Region 1 of the General Authorization Plan of SCM for the State of Minas Gerais.

6.1.2. Brief History, Sectors and Development of its Activities: Telemig Celular is a company incorporated as a result of the partial spin-off of Telecomunicações de Minas Gerais S.A.—Telemig, a land line operator controlled by TELEBRÁS. As part of Telebras, it has since 1993 provided cellular mobile telephony services through one of its divisions. After the spin -off of Telebras in 1998, as a measure for getting prepared for the privatization process, the control of Telemig Celular was transferred to Telemig Participações. In April 2005, Telemig Celular was authorized to exploit SCM in the “E” RF subtier in the municipalities of Sector 3 of Region 1 of the General Authorization Plan (“PGO”) (Triângulo Mineiro), so that the Company’s coverage was extended to include the whole State of Minas Gerais. Telemig Celular is

8

the company with the highest percentage of postpaid plan customers in its marketplace, an important factor for the results of its business, once this segment comprises the users with highest added - value, having reached 3,900,826 customers in 2007.

6.1.3. Capital Stock. The capital stock of Telemig Participações is R$ 577,500,000.00, represented by 36,207,061 registered, book-entry shares, without par value, of which 13,466,059 are common shares and 22,741,002 are preferred shares. On the other hand, the capital stock of Telemig Celular is R$ 528,000,000.00, represented by 2,372,176 registered, book-entry shares, without par value, of which 891,241 are common shares and 196 are preferred shares class B, 20,769 preferred shares class C, 1 preferred share class D, 3,830 preferred shares class E, 12,783 preferred shares class F and 1,443,356 preferred shares class G.

6.1.4. Ownership Structure. The ownership structure of Telemig Participações on April 03, 2008, was the following:

OWNERSHIP STRUCTURE - TELEMIG CELULAR PARTICIPAÇÕES S.A.

Shareholders	Common	%	Preferred	%	Total	%	Capital in R$
Vivo Part	7,258,108	53,899	969,932	4,265	8,228,040	22,725	131,236,875.00
Free Float	6,207,951	46,101	21,771,070	95,735	27,979,021	77,275	446,263,125.00
Total Capital	13,466,059	100,00	22,741,002	100,00	36,207,061	100,00	577,500,000.00

The ownership structure of Telemig Celular on April 03, 2008 was:

OWNERSHIP STRUCTURE - TELEMIG CELULAR S.A.

Shareholders	Common	%	Preferred	%	Total	%	Capital in R$
Telemig Part	794,764	89.175	1,180,078	79.685	1,974,842	83.250	439,560,000.00
Free Float	96,477	6.515	300,857	20.315	397,334	16.750	88,440,000.00
Total Capital	891,241	100.00	1,480,935	100.00	2,372,176	100.00	528,000,000.00

6.1.5. Economic-Financial Indicators of the Companies. The economic-financial indicators of Telemig Participações, based on its consolidated financial statements, and of Telemig Celular, based on its financial statements in the periods indicated below, are the following:

TELEMIG CELULAR PARTICIPAÇÕES (CONSOLIDATED)

Item	Financial Year ended in Dec/06		Financial Year ended in Dec/07
Paid up Capital Stock (R$ thousand)	436,530		515,000
Shareholders Equity (R$ thousand)	1,118,196		1,229,819
Net Operational Revenue (R$ thousand)	1,193,476		1,377,400
Operating Income (R$ thousand)	213,284		275,785
Net Income (Loss) (R$ thousand)	113,414		148,406
Total Liability (R$ thousand)	710,353		930,024
No. of shares, Former Treasury Shares (thousand)	357,706,556		36,207,061
Income (Loss) per thousand Shares (R$)	3,170.59		4,098.82
Equity Value per thousand Shares (R$)	31.26		33.97
Total Liability / Shareholders Equity	63.5	%	75.6	%
Net Income (Loss) / Shareholders Equity (%)	10.1	%	12.1	%
Net Income (Loss) / Net Operational Revenue (%)	9.5	%	10.8	%
Net Income (Loss) / Paid up Capital Stock (%)	26.0	%	28.9	%

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TELEMIG CELULAR

Item	Financial Year ended in Dec/06		Financial Year ended in Dec/07
Paid up Capital Stock (R$ thousand)	438,099		470,000
Shareholders Equity (R$ thousand)	953,434		1,070,593
Net Operating Income (R$ thousand)	1,193,476		1,377,400
Operating Income (R$ thousand)	183,627		249,677
Net Income (Loss) (R$ thousand)	136,696		176,931
Total Liability (R$ thousand)	664,920		834,968
No. of shares, Former Treasury Shares (thousand)	2,372		2,372
Income (Loss) per Share (R$)	57.72		74.58
Equity Value per Share (R$)	401.95		451.31
Total Liability / Shareholders Equity	69.7	%	78.0	%
Net Income (Loss) / Shareholders Equity (%)	14.3	%	16.5	%
Net Income (Loss) / Net Operating Income (%)	11.5	%	12.8	%
Net Income (Loss) / Paid up Capital Stock (%)	31.2	%	37.6	%

6.1.6 Trading Historical Information:

TELEMIG PARTICIPAÇÕES

Month	Neg.Code	Kind.	Amount.	Volume (R$)	Minimum Price	Maximum Price	Average Price	Settlement Price
April/07	TMCP4	PN *	16,697,200,000	70,377,056.00	3.81	4.72	4.21	4.46
April/07	TMCP4	PN *ED	1,278,200,000	5,665,192.00	4.34	4.49	4.43	4.49
May/07	TMCP4	PN *ED	3,661,600,000	16,629,713.00	4.37	4.70	4.54	4.52
May/07	TMCP4	PN *	19,839,500,000	94,820,897.00	4.47	5.03	4.78	4.72
June/07	TMCP4	PN *	18,830,000,000	90,903,224.00	4.47	5.08	4.83	4.87
July/07	TMCP4	PN *	16,750,600,000	86,041,361.00	4.61	5.50	5.14	5.50
August/07	TMCP4	PN *	13,517,200,000	72,525,453.00	5.09	5.83	5.37	5.23
August/07	TMCP4	PN	1,998,400	107,280,289.00	47.00	58.04	53.68	58.00
Sept/07	TMCP4	PN	959,400	52,789,510.00	52.68	58.04	55.02	53.66
Octob/07	TMCP4	PN	1,947,500	102,439,889.00	50.00	55.50	52.57	54.00
Nov/07	TMCP4	PN	1,197,200	60,503,632.00	48.20	54.10	50.57	50.05
Dec/07	TMCP4	PN	1,351,200	65,609,756.00	46.02	51.27	48.54	48.51
Jan/08	TMCP4	PN	1,110,100	54,986,269.00	46.80	51.80	49.52	50.40
Feb/08	TMCP4	PN	1,522,000	77,887,725.00	48.52	53.82	51.16	52.50
Mar/08	TMCP4	PN	1,634,400	85,155,679.00	50.30	54.00	52.13	51.00
Mar/08	TMCP4	PN ED	44,000	2,196,561.00	49.31	50.21	49.92	50.20
April/08(**)	TMCP4	PN ED	652,400	33,136,784.00	49.61	54.50	50.59	53.60

(*) Quoted value for lot of one thousand shares, before the reverse split up

(**) Until the trading session of 04/04/2008

TELEMIG CELULAR

Month	Neg.Code	Kind.	Amount.	Volume (R$)	Minimum Price	Maximum Price	Average Price	Settlement Price
May/07	TMGC6	PNB	14	6,860.00	490.00	490.00	490.00	490.00

(*) Until the trading session of Bovespa of April 04, 2008

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Month	Neg.Code	Kind.	Amount.	Volume (R$)	Minimum Price	Maximum Price	Average Price	Settlement Price
April/07	TMGC7	PNC	133	71,540.00	500.00	540.00	537.89	500.00
May/07	TMGC7	PNC	149	75,230.00	470.00	520.00	504.90	520.00
June/07	TMGC7	PNC	111	57,442.00	451.00	520.00	517.50	510.00
July/07	TMGC7	PNC	16	8,732.00	502.00	570.00	545.75	502.00
August/07	TMGC7	PNC	1,522	985,960.00	600.00	670.00	647.81	650.00
Sept/07	TMGC7	PNC	71	46,150.00	650.00	650.00	650.00	650.00
Oct/07	TMGC7	PNC	2	1,212.00	602.00	610.00	602.00	610.00
Nov/07	TMGC7	PNC	2	1,211.00	601.00	610.00	610.00	601.00
Dec/07	TMGC7	PNC	1	610.01	610.01	610.01	610.01	610.01
Dec/07	TMGC7	PNC	69	41,400.00	600.00	600.00	600.00	600.00
Jan/08	TMGC7	PNC	219	131,400.00	600.00	600.00	600.00	600.00
Feb/08	TMGC7	PNC	—	—	—	—	—	—
Mar/08	TMGC7	PNC	128	76,800.00	600.00	600.00	600.00	600.00
April/08 (*)	TMGC7	PNC	1	600.00	600.00	600.00	600.00	600.00

(*) Until the trading session of Bovespa of April 04, 2008

Month	Neg.Code	Kind.	Amount.	Volume (R$)	Minimum Price	Maximum Price	Average Price	Settlement Price
April/07	TMGC11	PNE	92	45,540.00	495.00	495.00	495.00	495.00
May/07	TMGC11	PNE	8	4,000.00	500.00	500.00	500.00	500.00
June/07	TMGC11	PNE	10	5,200.00	520.00	520.00	520.00	520.00
July/07	TMGC11	PNE	35	18,810.00	510.00	550.00	537.43	510.00
August/07	TMGC11	PNE	499	323,950.00	550.00	650.00	649.20	650.00
Sept/07	TMGC11	PNE	208	135,200.00	650.00	650.00	650.00	650.00
Oct/07	TMGC11	PNE	—	—	—	—	—	—
Nov/07	TMGC11	PNE	—	—	—	—	—	—
Dec/07	TMGC11	PNE	112	67,200.00	600.00	600.00	600.00	600.00
Jan/08	TMGC11	PNE	—	—	—	—	—	—
Feb/08	TMGC11	PNE	—	—	—	—	—	—
Mar/08	TMGC11	PNE	—	—	—	—	—	—
April/08 (*)	TMGC11	PNE	—	—	—	—	—	—

(*) Until the trading session of Bovespa of April 04, 2008.

Month	Neg.Code	Kind.	Amount.	Volume (R$)	Minimum Price	Maximum Price	Average Price	Settlement Price
April/07	TMGC12	PNF	90	44,550.00	495.00	495.00	495.00	495.00
May/07	TMGC12	PNF	—	—	—	—	—	—
June/07	TMGC12	PNF	—	—	—	—	—	—
July/07	TMGC12	PNF	1	510.00	510.00	510.00	510.00	510.00
August/07	TMGC12	PNF	276	178,790.00	540.00	650.00	647.79	600.00
Sept/07	TMGC12	PNF	—	—	—	—	—	—
Oct/07	TMGC12	PNF	—	—	—	—	—	—
Nov/07	TMGC12	PNF	6,183	3,802,545.00	615.00	615.00	615.00	615.00
Dec/07	TMGC12	PNF	88	52,800.18	600.00	600.01	600.01	600.00
Jan/08	TMGC12	PNF	30	18,000.00	600.00	600.00	600.00	600.00
Feb/08	TMGC12	PNF	—	—	—	—	—	—
Mar/08	TMGC12	PNF	10	6,000.00	600.00	600.00	600.00	600.00
April/08 (*)	TMGC12	PNF	—	—	—	—	—	—

(*) Until the trading session of Bovespa of April 04, 2008.

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Month	Neg.Code	Kind.	Amount.	Volume (R$)	Minimum Price	Maximum Price	Average Price	Settlement Price
April/07	TMGC13	PNG	100	68,999.00	689.99	689.99	689.99	689.99
May/07	TMGC13	PNG	68	46,920.00	690.00	690.00	690.00	690.00
June/07	TMGC13	PNG	100	69,000.00	690.00	690.00	690.00	690.00
July/07	TMGC13	PNG	100	68,899.00	688.99	688.99	688.99	688.99
August/07	TMGC13	PNG	6,717	5,709,532.88	849.99	880.00	850.01	849.99
Sept/07	TMGC13	PNG	188	159,829.82	849.99	879.99	850.16	850.00
Oct/07	TMGC13	PNG	—	—	—	—	—	—
Nov/07	TMGC13	PNG	493	396,056.42	799.99	820.00	803,76	800.00
Dec/07	TMGC13	PNG	328	240,802.80	694.99	773.99	756.16	694.99
Jan/08	TMGC13	PNG	302	204,984.03	650.00	693.00	678.37	692.99
Feb/08	TMGC13	PNG	—	—	—	—	—	—
Mar/08	TMGC13	PNG	82	13,023,411.44	600.00	690.00	636.26	630.00
April/08 (*)	TMGC13	PNG	4	6,250,810.00	620.00	650.00	620.00	635.00

(*) Until the trading session of Bovespa of April 04, 2008.

7. Information on the Offeror

7.1. Head Office, Venue and Corporate Purpose. The head office of the Offeror is located at SC/Sul, Quadra 2, Bloco C, nr.256, 3^rd. pavement, Ed. Toufic, Plano Piloto, in the city of Brasilia, Federal District, Brazil. The Offeror is a closely-held corporation, controlled by Vivo S.A and Vivo Participações S.A, which is owner of 100% of the capital stock of Vivo S.A.

Vivo Par is a publicly-held corporation, incorporated under the laws of Brazil, with head offices at Av. Roque Petroni Junior, nr.1464, São Paulo, State of São Paulo. Vivo Par was formerly named Telesp Celular Participações S.A., and controls Vivo S.A., provider of SMP service, that develops SMP Services in the areas 7 and 8 of Regions I and II, in the Service Area 7 of Region II, and SMP Services in Region I (service areas 3 and 9), in Region II (service area 6) and Region III (service areas 1 and 2) and indirectly Telemig Celular S.A that develops SMP services in the area 4. On the Anatel’s Action occurred on September 18^th, Vivo acquired the Band L lots, except for lot 16 (area of Londrina—PR into region 5) and of lot 20 (North of Brazil—region 8). Band L comprises lots in the frequency range from 1895 to 1900 Mhz and from 1975 to 1980 Mhz, with 5 + 5 Mhz width. Accordingly, Vivo managed to complete its last coverage gap and will be soon operating in the whole Brazilian territory. On the Anatel’s Action occurred on December 20^th, Vivo acquired the Band J lots, with 10 + 10 Mhz.

7.2. Brief History, Sectors and Development of its Activities. The Offeror is a company organized under the laws of Brazil and was incorporated in November 2000, is a company that renders telecommunications’ limited specialized services (SLE) in the submodalities of circuit and network, as classified by ANATEL—Agência Nacional de Telecomunicações; as well as, rendering services of mobile and fixed internet, Cable TV and wireless paid TV. Until 2004, Offeror was authorized to render Multimedia Communications Services.

Vivo Par acquired the control of the Companies and is a controlling of the Offeror, was incorporated in May 1998, as a holding company resulting from the spin off of TELEBRÁS, which during the privatization of the Telebrás System, became the controlling shareholder of the operator of mobile cellular phone in São Paulo (Band A), then called Telesp Celular S.A. In February 2001, the Offeror acquired a Band B operator within the states of Paraná and Santa Catarina (Global Telecom S.A.). The same controlling shareholders of the Vivo Par also controlled the holding companies and providers of mobile telecommunications services in the states of Bahia and Sergipe (Tele Leste and the operators Telebahia and Telergipe), in the States of Rio de Janeiro and Espírito Santo (Tele Sudeste and the operators Telerj and Telest) and in the State of Rio Grande do Sul (Celular CRT Participações and Celular CRT). On April 25, 2003, Vivo Par acquired from Fixcel S.A. 64.03% of the outstanding and voting stock of Tele Centro Oeste Celular Participações S.A. (“TCO”), controlling shareholder

12

and operator of the companies providers of SMP service in the Federal District of Brazil, as well as in the States of Goiás, Mato Grosso do Sul, Mato Grosso, Rondônia, Acre and Tocantins, and NBT, provider of SMP in the States of Amapá, Amazonas, Maranhão, Pará and Roraima. On February 22, 2006, a corporate reorganization was approved and as a consequence TCO shares were merged, and TCO became a wholly-owned subsidiary of the Vivo Par, as well as the merger of Tele Sudeste Celular Participações S.A., Tele Leste Celular Participações S.A. and Celular CRT Participações S.A.. Later, on October 31, 2006, it was approved the merger by Vivo S.A. (formerly Global Telecom S.A.) of the operators previously controlled by the holding companies merged by Vivo Par. Thus, the SMP services that had been provided by the operators in all the areas and regions mentioned in item 7.1 above, started to be provided by Vivo S.A.

7.3 Information on Offeror’s Controlling Shareholders. Brasilcel N.V. (“Brasilcel”) is the direct controlling shareholder of Vivo Par and, indirectly controlling shareholder of the Offeror . Brasilcel is a Dutch holding company, whose shares are held in equal parts by Portugal Telecom, SGPS, S.A. and Telefónica S.A. Brasilcel’s corporate purpose is to control the companies developing SMP services in the Brazilian territory.

8. Representations

8.1. The Offeror undertakes to pay to holders of PN Shares that accept the Offer the highest amount of (a) the respective Offer price, adjusted as provided in this Notice and restated by the changes in the number of shares arising from bonuses, split -ups, groupings and conversions that may occur, and (b) the following values: (i) the price per share which would be due, or which might be due, upon the occurrence, within one (1) year from the Auction Date, of either a fact requiring or which might require the holding of an obligatory public offer of acquisition of the same shares, as provided for by CVM Instruction no 361/02, or (ii) the value to which they would be entitled in the event they were still shareholders and dissented from the resolution that approved a corporate event permitting the exercise of rights to withdraw, also within 1 (one) year from the Auction Date.

8.2. The payments dealt with in item 8.1. shall be made in local currency, calculated as provided for in such items, adjusted for inflation by the variation of the Brazilian Reference Rate (TR) from the Auction Date until the date of such payment. For purposes of adjustment by TR, when the TR is not known, the rate to be applied for the corresponding period shall be the average over the latest twelve-month period. If the TR is extinct or not disclosed for over thirty (30) days, or, due to superseding legal rules or regulations, can not be adopted to adjust value, then from the date the TR is extinct or impediment of its adoption, the index that replaces it by the Federal Government shall be adopted.

8.3. The Offeror, Vivo Par and the Intermediary Institution represent that they are not aware of the existence of any material facts or circumstances not disclosed to the public, which might have a relevant influence on the Companies’ results or on the trading price of their respective shares.

8.4. The Intermediary Institution and the persons to which it is related represent that they do not hold nor have under their discretionary administration shares issued by the Companies.

8.5. The Intermediary Institution represents that it is indirectly controlled by a financial group, that according to the applicable Portuguese legislation as of January 14, 2008, holds common shares representing 7.79% of the capital stock of Portugal Telecom SGPS, S.A., holder of record, directly and indirectly, of 50% of the capital stock of Brasilcel, N.V., controlling shareholder of the Offeror.

8.6. The registration of each of the Companies dealt with in Article 21 of Law No. 6,385/76 is duly updated with CVM.

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9. Additional Information

9.1. Additional information about each of the Companies and the Offers may be obtained from the Investor Relations Office of each of the Companies at their respective addresses or websites as mentioned in item 9.2., or by telephone at 00XX11 7420 1172.

9.2. Access to Contracts, Appraisal Report, Notice and Shareholders List. The Contracts, Appraisal Report, this Notice and the list of each of the Companies’ shareholders are at the disposal of any interested person (the last document only upon identification and receipt signed by the interested party). In addition to the following addresses, the Appraisal Report and this Notice may be found on the Internet at the following sites.

BES SECURITIES DO BRASIL S.A. CORRETORA DE CÂMBIO E VALORES MOBILIÁRIOS

Av. Brigadeiro Faria Lima, Nr.3729, 6º andar, São Paulo, SP

www.bessecurities.com.br

VIVO PARTICIPAÇÕES S.A.

Av. Roque Petroni Júnior, Nr.1.464, São Paulo, SP

www.vivo.com.br

TCO IP S.A

SC/Sul, Quadra 2, Bloco C, Nr. 256, 3º pavimento, Ed.Toufic, Plano Piloto—Brasília/DF

www.vivo.com.br

TELEMIG CELULAR PARTICIPAÇÕES S.A. AND TELEMIG CELULAR S.A

Rua Levindo Lopes, Nr.258, Belo Horizonte, MG

www.telemigholding.com.br

www.telemigcelular.com.br

COMISSÃO DE VALORES MOBILIÁRIOS—CVM

Rua Formosa, Nr.367, 20º andar, Centro, São Paulo, SP.

Rua Sete de Setembro, 111, 5º andar - “Centro de Consultas”, Rio de Janeiro, RJ

www.cvm.gov.br

BOLSA DE VALORES DE SÃO PAULO - BOVESPA

Rua XV de Novembro, Nr. 275, São Paulo, SP

www.bovespa.com.br

9.3. Registration with CVM. The Offers object of this Notice are not subject to registration before CVM. BOVESPA authorized the Auction for each of the Offers at is electronic trading system.

14

EX-99.(A)(5)(D)

Exhibit (a)(5)(D)

Contents

Important Note

I.	Executive Summary	7
II.	Appraiser Qualifications and Declarations	13
III.	Information from Telemig Celular	20
IV.	Valuation of Telemig preferred Shares	26
	I.      Volume Weighted Average Share Price
	II.     Equity Share Values
	III.   Economic Value by Market Multiples
	IV.   Premium Value of Similar Public Share Offers
V.	Conclusion	32
VI.	Annexes	34

-2-

Important Notice

1. BES Investimento do Brasil S.A - Banco de Investimento (hereinafter “BESI” ) was engaged by Vivo Participações S.A. (hereinafter the “Company”) to draw up this economic and financial valuation Report (hereinafter the “valuation Report”), for a Voluntary Public Tender Offer for the Purchase of the preferred Shares issued by Telemig Celular Participações S.A. (hereinafter “Telemig Participações”) and Telemig Celular S.A. (hereinafter “Telemig Celular” and, jointly with Telemig Participações, “Telemig”) (hereinafter the “VTO” ), to be undertaken by the Company pursuant to Instruction 361 of the Brazilian Exchange Commission (hereinafter “CVM”), dated March 5, 2002, as altered (hereinafter “CVM Instruction 361”).

2. The Valuation Report is the intellectual property of BESI and was drawn up by BESI to comply with the provisions of Articles 8 and 31 of CVM Instruction 361.

3. The Valuation Report must not be used for any purposes other than those related to the VTO.

4. BESI has not made, and will not make, any recommendations nor express any explicit or implicit opinion to Telemig shareholders, it being the sole and exclusive decision of the latter to accept or not accept the VTO.

5. The Valuation Report does not represent a judgment, opinion or recommendation to the Company’s management, its shareholders or any third party (including, but without being limited to, investors who decide to participate in the VTO) as to the convenience and opportunity of undertaking the VTO, which shall remain at the exclusive discretion of the Company’s management, not does it intend to support any investment decision. BESI is not advising Telemig shareholders as to the VTO. All shareholders should conduct their own analyses of the VTO.

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Important Notice (continued)

6. The reference date used for the Valuation Report is August 2, 2007, date of the material fact of the announcement of acquisition of control of Telemig and, among other facts, of the VTO.

7. When preparing this Valuation Report, BESI considered, among others, the following Telemig information: (i) Telemig Audited Financial Statements for the fiscal year ended on December 31, 2007 (ii) historical record of market share prices of Telemig preferred shares. BESI considered further other information, financial studies, analyses and research, and financial, economic, monetary and market criteria regarded as relevant, as well as public information on Telemig’s sphere of operation and on macroeconomic parameters where Telemig is notably present.

8. This Valuation Report has not considered previous Telemig valuations or securities issued by these companies made public up to this date, within the context of past operations, offers and negotiations involving Telemig.

9. The drawing up of economic-financial valuations is a complex task involving subjective judgments and is not susceptible to a partial analysis or summarized description. BESI has not placed specific importance on any of the factors considered individually in the Valuation Report. On the contrary, it undertook a qualitative analysis on the importance and relevance of all factors considered herein. Thus, the Valuation Report should be analyzed as a whole, since an analysis of selected parts, summaries or specific aspects of the Valuation Report, without full knowledge and analysis of the Valuation Report in its totality, may result in an incomplete and incorrect understanding of the analysis undertaken by BESI, and of the conclusions contained in the Valuation Report. The results submitted herein envisage the compliance by the Company with the provisions of Articles 8 and 31 of CVM Instruction 361, within the scope of the VTO, not extending beyond any other issues or transactions, present or future, in relation to Telemig and the economic group of which these companies are part, or to their sphere of activity.

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Important Notice (continued)

10. BESI has assumed and relied, with the express consent of the Company and without any independent confirmation, on the content, exactness, veracity, integrity, consistency, sufficiency, completeness and precision of all financial, accounting, legal, and fiscal information and other information analyzed by BESI or discussed with BESI, made publicly available by Telemig. BESI has not undertaken (i) any valuation of Telemig assets and liabilities (contingent or not); (ii) review or audit of Telemig financial statements; (iii) technical audit of Telemig operations; (iv) valuation of the solvency or fair value of Telemig, in accordance with any law related to bankruptcy, insolvency or similar issues; or (v) any physical inspection of Telemig properties, facilities or assets. BESI does not assume any responsibility whatsoever in relation to the verification of the content, exactness, veracity, integrity, consistency, sufficiency, completeness and precision of such information.

11. BESI is not responsible for direct or indirect losses or loss of profits that may result from the use of the valuation Report.

12. Except when another date is expressly specified, the valuation Report reflects Telemig’s financial and accounting conditions, as per available information up to April 3, 2008, so that any alteration in such conditions and information after this date may alter the results presented herein. BESI is not obliged, at any time, to update, review, correct or reaffirm any information contained in the valuation Report, or to furnish any additional information related to the valuation Report. When preparing the valuation Report, BESI was not authorized by the Company or its Board of Directors to request, nor has it requested, information of interest to third parties regarding a total or partial acquisition of Telemig shares. Consequently, the results determined in the valuation Report are not necessarily, nor should they be inferred as, representative of effective Telemig sale prices to third parties, for which these companies may be negotiated now or at a future date.

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Important Note (continued)

13. Other company and sector valuations, also undertaken by BESI, may adopt different approaches on market assumptions than those adopted in the valuation Report, so that the BESI research department, and other departments and affiliated companies, may use in their analyses different Report and publications, estimates, projections and methodologies from those used in the valuation Report; any such analyses, reports and publications may contain different conclusions from those described in the valuation Report.

14. BESI was engaged by the Company and, independently of the VTO, will be remunerated for the services rendered.

15. BESI has provided, either directly or through affiliated companies, certain financial and investment banking services to the Company, as well as to its respective parent companies, for which it received remuneration, continues to provide them and may, at any time, provide them again. BESI, either directly or through affiliated companies is, or may become, a creditor of the Company, of Telemig, as well as of any of its respective parent companies in certain financial operations, and may also increase or decrease the volume of its financial operations with these corporations.

16. In the normal course of its activities, BESI may, either directly or through affiliated companies, negotiate securities of the Company or of Telemig, as well as of their respective parent companies, in its own name or in that of its clients and, consequently, may, at any time, be long or short of these securities.

17. BESI declares that there is no conflict of interests that would impair its impartiality of judgment, required for the performance of its duties in relation to the drawing up of the valuation Report.

18. The valuation Report was drawn up solely in Portuguese and, should it be translated into any other language, the Portuguese version shall always prevail.

/s/ Juliana Arruda	/s/Bruno Guapo Garção
Juliana Arruda	Bruno Guapo Garção
Vice-President	Associate

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Object and Scope of the Analysis

• On August 2, 2007, Vivo Participações S.A announced that it had signed, a stock purchase agreement with Telpart Participações S.A., to acquire control of Telemig.

• In addition to the announcement for the acquisition of the controlling interest and of the subsequent mandatory public offerings of ordinary shares of Telemig, Vivo also announced, on the same date, their intention of making voluntary public tender offers of up to  ¹/3 of each class of preferred shares in circulation of Telemig Participações and Telemig Celular that it did not already own at a premium of 25% over the weighted average of the last 30 trading days, up to August 1, 2007. The price offered in Telemig Participações voluntary public offer is R$ 63,90 and in Telemig Celular voluntary public offer is R$ 654,72.

• Following the above mentioned transaction, BESI was engaged by Vivo Participações S.A. to draw up this economic and financial valuation Report for the purpose of a Voluntary Public Tender Offer of preferred Shares Issued by Telemig Participações and Telemig Celular, to be effected by the Company.

• Pursuant to CVM Instruction 361, BESI conducted the analyses of the following methodologies:

– Volume Weighted Average Share Price for the last twelve months prior to August 1, 2007;

– Net book value per share, calculated in accordance with Telemig Audited Financial Statements for the fiscal year ended on December 31, 2007 and reviewed by Deloitte Touche Tohmatsu;

– Economic value, based on market value multiples of comparable companies to those analyzed;

– Premium offered in similar transactions occurring since 2001, calculated through the mean and median premiums offered in public offerings of preferred shares on the weighted average price of the shares, considering 30 trading days prior to the announcement of the respective VTO;

• Among the methodologies used, BESI concluded that the most adequate is that of the premium offered in comparable transactions, as it reflects the parameters used in the market to price the benefit to be extended by the controlling company to holders of preferred shares in similar voluntary tender offers.

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Object and Scope of the Analysis

• Different methodologies have, among others, the following limitations that preclude their application in this offer up to  ¹/3 of the preferred shares in circulation not owned by the company:

– The methodology of weighted averages over the last 12 months tends to flatten the value of the company, not reflecting recent events, whether positive or negative, immediately before the offer and, in this way potentially omitting relevant developments.

– Book value per share is not a satisfactory indicator for this valuation Report, as the net equity value follows accounting rules that may not reflect the market value of shares, in the extent that it is tied to past events and performance of the companies, and does not embody expectations of future performances to be appraised.

– Economic value calculated through market multiples is not an adequate alternative, since the sample available in the Brazilian market is scarce. Only the shares of Vivo Participações S.A., TIM Participações S.A., Tele Norte Celular Participações and Amazônia Celular can be used for a market multiples analysis.

– The economic value obtained through discounted cash flow methodology is not applicable in the case of voluntary public offerings of preferred shares, as the value obtained through such method implies an effective control of the company, something that does not occur with holders of preferred shares who do not have voting rights and, as such, no control over the cash flows that are the object of the valuation Report.

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Methodology Applied

• BESI appraised the preferred shares of the following companies: (i) Telemig Celular Participações S.A., and (ii) Telemig Celular S.A., applying the methodologies described in the table below.

• In the case of Telemig Celular S.A., we used the preferred share with greater liquidity among the classes in circulation (see annex A Liquidity Analysis of preferred Shares).

• The quantities considered in the analyses presented in this document were those existing after the date of the announcement of the VTO, August 2, 2007, and contemplate the reverse split that occurred later.

• The respective sources of information, concepts used and detailing of the calculations of EBITDA and Net Debt used in the analysis are shown in the Annex. The same applies to the share price and volumes traded.

METHODOLOGY	DESCRIPTION
Volume Weighted Average Share Price	•       The closing price of each share was weighted according to the daily financial volume traded over the period. •       The period considered was 12 months prior to disclosure of the material fact regarding the VTO, i.e., from August 2, 2006 to August 2, 2007.
Book Value per share	•       Obtained by dividing the respective company’s net equity, determined in the Financial Statements for the fiscal year ended on December 31, 2007, by the number of shares after the reverse split on August 14, 2007.
Market Multiples of Comparable Companies	•       Comparable companies listed on the São Paulo Stock Exchange and components of the IBOVESPA Index (Vivo, Tim, Tele Norte Celular Participações and Amazônia Celular) were used to obtain the multiples. •       We calculated the ratio between the Enterprise Value of these companies weighted solely by preferred shares based on an average market value of thirty working days prior to the announcement of the VTO (from June 20 to August 1, 2007) and their respective EBITDA’s 2007, and the net debt as per the Financial Statements for the fiscal year ended on December 31, 2007. •       In the case of Telemig Participações, calculations of EBITDA and Net Debt are weighted according to its interest in Telemig Celular. Multiples obtained were applied to the Company under analysis for the establishment of the value.
Comparison with Voluntary Tender Offers.	•       The comparable transactions considered were the public offerings for acquisition of preferred shares in Brazil, since 2001. The only offers considered were those in which the preferred shares showed relative liquidity prior to the respective public offerings. Because of sampling limitations, comparisons were based on offers for 100% of preferred shares and not only offers for  1/3 of the preferred float. •       For each of the comparable transactions, the calculations were based on the premiums offered by buyers in relation to market share price considering an average of thirty trading days prior to the announcement of the respective public offerings. •       The resulting premiums were applied to the Telemig preferred shares appraised herein, considering the average share price, weighted by volume, over the thirty trading days prior to the announcement.

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Selected Methodology

• Premium offered in public offers of preferred shares

Date of Announcement	Company¹	Share Class	Premium Offered on Volume Weighted Average Share Price²
31-ago-06	Fertibras	PN	39,9	%
9-mai-06	Embratel	PN	31,7	%
9-nov-04	Cosipa	PN	25,5	%
8-nov-04	Seara	PN	14,8	%
25-ago-04	CRT Celular	PN	19,7	%
	Tele Centro Oeste Celular Participações	PN	20,2	%
	Tele Leste Celular Participações	PN	20,8	%
	Tele Sudeste Celular Participações	PN	19,7	%
29-abr-04	Bunge	PN	10,6	%
16-mar-01	Bompreço	PN	35,2	%
Mean			23,80	%
Median			20,50	%

Notes

1. Voluntary offers and ‘going-private’ offers announced since 2001, excluding low-liquidity companies.

2. Prior period to the announcement of Public Offerings

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Analysis Results - Telemig

• For Telemig Participações preferred shares, the selected value range is from R$ 61.64 to R$ 63.32 per share that, converted to values prior to the reverse split on August 14, 2007, would be within the interval ranging from R$ 6.16 to R$ 6.33 per lot of one thousand shares.

• For Telemig Celular preferred shares, the selected value range is from R$ 631.15 to R$ 648.43 per share.

Note:

1– Number of shares contemplates reverse split which occurred after the announcement of the Voluntary Tender Offer.

2– The value of Telemig Celular obtained through the use of market multiples based on EBITDA 2007 is not significant as the four companies sample includes three holding companies which historically trade at a premium to the operating companies due to the low liquidity of the latter. Therefore, the use of the average multiple obtained through this sample overestimates the true value of Telemig Celular.

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Appraiser Qualifications

BES Investimento do Brasil S.A - Banco de Investimento (hereinafter “BESI” ) is part of the Espírito Santo Group, one of the largest financial groups in Portugal, present in Europe, the Americas, Africa and Asia. In the financial segment, the Espírito Santo Group is involved in commercial and investment banking activities, leasing, consumer credit, real estate credit, shares brokerage, private equity, venture capital and fund management. In Brazil, the Espírito Santo Group started its activities in 1975 with total investments in the country already exceeding € 1.8 billion

BESI is an investment bank basically focused on services related to financial consultancy in (i) corporate finance in the following operations: mergers & acquisitions, privatizations, corporate valuations, restructuring, going private and going public from the structuring and economic/financial valuation through to the conclusion of the operation; and (ii) domestic and international capital markets in: issue and primary and secondary distribution of bonds and securities; syndicated loans and finance structuring, as well as other products and services inherent to investment banking activities.

BESI also has a wholly owned subsidiary (BES Securities do Brasil S.A. – Corretora de Câmbio e Valores Mobiliários) which operates in Stock Markets and Futures and Commodities Markets, and in the preparation of equity research reports.

BESI’s Corporate Finance area is responsible for drawing up this valuation Report. The Corporate Finance area comprises eight fully qualified professionals, with the support of its global Corporate Finance area through sectorial teams in Portugal, Spain and London.

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Appraiser Qualifications

The Corporate Finance area of BESI has recently undertaken valuations of major listed companies, among which

• Banco Mercantil do Brasil in August 2005;

• PrimeSys – Soluções Empresariais S/A in September 2005;

• Tele Centro Oeste Celular Participações S.A. (valuation Report filed with CVM on August 11, 2003);

• Prevê Prédios S.A. (valuation Report filed with CVM on August 20, 2002);

• Banco Mercantil de São Paulo S.A. (valuation Report filed with CVM on August 20, 2002);

• Telesp Celular Participações in November 1999.

Additionally, the Corporate Finance area of BESI conducted various operations over the last few years undertaking company valuations. Some of these processes are detailed in the next slide: “Recent selected transactions involving company valuations”

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Recent Selected Transactions involving companys valuations —

BES Investimento do Brasil

-16-

Selected International Transactions — Espirito Santo Investment

-17-

Appraisers Qualifications

Name	Position	Summary Relevant Experience
Juliana Arruda	Vice President	•        9 years of experience in the M&A area having advised Icatu and Grupo José de Mello in sale of their stakes in Med-Lar, Societé General and Banco Mais in their acquisition of Banco Pecúnia and the sale of Grupo Espírito Santo stake in Shopping Villa-Lobos.
Bruno Guapo Garção	Associate	•        7 years experience in the M&A area, having advised Nutasa, S.G.P.S., in the sale of its Animal Feed Business to Saprogal/ The Carlyle Group, Espírito Santo Concessões in the valuation of several Motorway concessions in Portugal and Fábrica Têxtil Riopele, S.A. in the valuation of the business plan of Intermarcas, the owner of the Chocolate and LAB brands

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Appraiser Declarations

• BESI, either directly or through its parent companies, subsidiaries or related individuals, does not own no shares issued by Telemig, whether in its own name or under its discretionary management;

• BESI, either directly or through affiliated companies, provided certain financial and investment banking services to the Company, its Subsidiaries and Affiliates, as well as to its parent companies, for which it was remunerated, continues to provide these services and may, at any time, provide them again. In the normal course of its activities, BESI may come to negotiate, either directly or through affiliated companies, securities belonging to the Company, its parent companies, subsidiaries, affiliates, as well as Telemig, in its own name or on behalf of its clients and, consequently, may, at any time, hold long or short positions in relation to the aforementioned securities. Notwithstanding the relationship heretofore described, and except for the information herein provided, BESI has no other commercial information of any nature whatsoever regarding Telemig that may affect the valuation Report.

• BESI affirms that the Company, its controlling shareholders and directors, have not conducted, interfered, limited, hampered or practiced any action whatsoever that compromised the access, use or knowledge of information, assets, documents or work methodologies relevant to the conclusions presented herein, nor have they determined or restricted the capacity of BESI to establish the methodologies applied to reach the conclusions provided in the valuation Report, or restricted BESI’s capacity of determining the conclusions presented in the valuation Report.

• BESI has no conflict of interest with the Company, its controlling shareholders and directors, that demeans its necessary independence for the performance of its duties, as well as for the preparation of this valuation Report.

• For the services provided regarding the valuation Report, independently of the conclusion of the Offer, BESI will receive 150.000 thousand reais (R$ 150.000) from the Offering Party.

• Pursuant to what is provided under Article 8^o, §6, of CVM Instruction 361, BESI declares that during the twelve (12) months prior to the date of valuation Report, it received from the Company, its subsidiaries and affiliates, as well as from its parent companies, a total amount of US$ 1.000.000, by way of remuneration for advisory, valuation Report and similar services rendered for this transaction. BESI will receive in the future an additional remuneration of US$ 1.000.000 for the advisory, valuation Report and similar services rendered for this transaction.

• BESI also declares that it has not received from Telemig, its subsidiaries and affiliates, as well as from its parent companies any fees for advisory, auditing and similar services during the twelve (12) months prior to the date of the valuation report.

• This valuation Report has undergone internal review and has been approved by the Executive Directors of the Corporate Finance Department and the Legal Department of BESI.

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Brief Description of the Sector

  •       There are currently approximately 3.3 billion cell phones worldwide, according to Wireless Intelligence research. At the end of 2007, there were 121 million cell phones in operation in Brazil, a growth of 21.12% over the previous year.   •       In terms of subscribers, the cellular telephony sector in Brazil is the 5th largest in the world, after China, United States, Japan and Russia, according to data released by Anatel (the Brazilian telecommunications regulatory agency).   •       From January to December 2007, a further 20.9 million subscribers were added to the client base, i.e., an increase of 21% to the number of active cell phones in Brazil. According to Anatel, the number of cell phones in Brazil exceeds 120 million this year, and the mobile telephony coverage is now available to 90.4% of the population.   Installed Wireless Base – mm             Source: www.anatel.gov.br Market Share – Wireless Sector (January 2008)     Share – Available Technologies (December 2007)  

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I. Telemig

Brief Description   •       Telemig Celular Participações S.A. controls the cellular telephony provider Telemig Celular S.A, established after the restructuring of the Telebrás System. Subsequent to the sale of the shares of the holding companies to the private sector, the majority of the voting shares was acquired by Telpart Participações S.A.   •       Telemig is the leading services operator for the cellular mobile telephony in the State of Minas Gerais, serving 86% of the population in the concession area in 2007.   •       The Company holds concession rights to operate mobile telephony in Region I, being the company with the largest share of post-paid clients in its region.   •       According to Telemig’s latest quarterly statement, the Company held a 29.1% market share in its region in December 2007.

Source: www.telemigcelular.com.br

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I. Telemig (continued)

Source: www.telemigcelular.com.br

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I. Telemig (continued)

ARPU - R$

Source: www.telemigcelular.com.br

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I. Telemig (continued)

Soure: www.telemigcelular.com.br	*  Net debt values reported by the Company. For concept and detailed calculation of net debt used in the present laudo, see Annex “C”. Detailed calculation of EBITDA and Net Debt”.

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I. Volume Weighted Average Share Price - Telemig

• Evolution of Average Share Price 12 months prior to VTO announcement (Aug/02/2006 to Aug/01/2007)

	TMCP4		TMGC7
Pre Announcement of the offer	Av. Volume Quantity	Average Weighted Price (R$ / share)	Av. Volume Quantity	Average Weighted Price (R$ / share)
Daily Weighted Average last 30 days	74.117	51,15	12,5	523,78
Daily Weighted Average last 6 months	91.762	44,95	19,4	508,57
Daily Weighted Average last 12 months	86.471	41,97	34,2	443,20

Source: Bloomberg

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I. Volume Weighted Average Share Price - Telemig

• Evolution of Share Average Price since the material fact announcing the transaction up to Apr/04/2008

	TMCP4		TMGC7
Pre Announcement of the offer	Av. Volume Quantity	Average Weighted Price (R$ / share)	Av. Volume Quantity	Average Weighted Price (R$ / share)
Daily Weighted Average from 08/02/07 to 04/04/08	83.235	52,10	63,0	638,08

Source: Bloomberg

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II. Book Value per Share - Telemig

Telemig Participações

Book Value - December 31, 2007
Equity Value of Telemig Celular Participações as of December 31, 2007 (in million R$)	1.230
Number of Shares (millions)	36,21
Equity Value of Telemig Celular Participações (R$ / share)	33,97

The Book Value per share of Telemig Celular Participações based on the Balance Sheet as of December 31,

2007 corresponds to R$ 33.97 per share.

Telemig Celular

Book Value - December 31, 2007
Equity Value of Telemig Celular as of December 31, 2007 (in million R$)	1.071
Number of Shares (millions)	2,372
Equity Value of Telemig Celular (R$ / share)	451,31

The Book Value per share of Telemig Celular based on the Balance Sheet as of December 31, 2007

corresponds to R$ 451.31 per share

Source: CVM

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III. Economic Value of the Company per Market Multiples - Telemig¹

• The economic value of Telemig Participações preferred shares obtained through the use of EBITDA² multiples is R$ 52.18 per share.

• The economic value of Telemig Celular preferred shares obtained through the use of EBITDA² multiples is R$ 810.17 per share.

	Multiples	Equity Value R$ mm³	Price per share R$
	EV / EBITDA	EV / EBITDA	EV / EBITDA
Telemig Participações	3,94x	1.889	52,18
Telemig Celular	3,94x	1.922	810,17

Notes:

1. See Annex “B. Calculation of multiples used in the valuation Report” for further details

2. EBITDA 2007 is explained in Annexes “C. Detailed calculation of EBITDA and Net Debt” and “D. Glossary”

3. The concept of Company Value and Equity Value is explained in Annex “D. Glossary”

* The value of Telemig Celular obtained through the use of market multiples based on EBITDA 2007 is not significant as the four companies sample includes three holding companies which historically trade at a premium to the operating companies due to the low liquidity of the latter. Therefore, the use of the average multiple obtained through this sample overestimates the true value of Telemig Celular.

Source: CVM - ITR and Bloomberg

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IV. Premium values of similar public offerings—Telemig

• The median and mean of the premium offered for preferred shares in similar transactions that occurred since 2001 were 20.5% and 23.8%, respectively:

•        Applying the mean and median of the premium, the value range of Telemig Participações preferred shares is R$ 61.64 to R$ 63.32 per share.	•        Applying the mean and median of the premium, the value range of Telemig Celular preferred shares is R$ 631.15 to R$ 648.43 per share.

Notes:

1. Premium applied on weighted average price between June 21, 2007 and August 1, 2007 (30 trading days after the announcement of the VTO)

Source: Economática and Bloomberg

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Analysis Results—Telemig

• For Telemig Participações preferred shares, the selected value range is from R$ 61.64 to R$ 63.32 per share that, converted to values prior to the reverse split on August 14, 2007, would be within the interval ranging from R$ 6.16 to R$ 6.33 per lot of one thousand shares.

• For Telemig Celular preferred shares, the selected value range is from R$ 631.15 to R$ 648.43 per share.

Note:

1 –

Number of shares contemplates reverse split which occurred after the announcement of the Voluntary Tender Offer.

2 –

The value of Telemig Celular obtained through the use of market multiples based on EBITDA 2007 is not significant as the four companies sample includes three holding companies which historically trade at a premium to the operating companies due to the low liquidity of the latter. Therefore, the use of the average multiple obtained through this sample overestimates the true value of Telemig Celular.

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A. Liquidity Analysis of preferred Shares

• In order to determine the most liquid class of preferred share of Telemig Celular, we analyzed the volume of business in terms of quantity of traded shares over the last 30 trading days, prior to the announcement of the VTO, i.e., from June 20, 2007 to August 1, 2007.

Telemig Celular

Telemig Celular	Volume
TMGC6	0
TMGC7	125
TMGC8	0
TMGC11	49
TMGC12	1
TMGC13	105

• The most liquid share of Telemig Celular S.A during the period analyzed was TMGC7.

Source: Bloomberg

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B. Calculation of Multiples Used in the Valuation Report

• In order to calculate the enterprise value of comparable companies, we calculated the respective average market values of preferred shares only, over the last 30 trading days prior to the date of announcement of the VTO (June 20, 2007 to August 1, 2007), adding the net debt as of December 31, 2007 to the value obtained. These enterprise values implied a range of EBITDA multiples.

• To obtain the Equity Value of Telemig, we applied the average EBITDA multiple of the companies included in the sample to the Telemig EBITDA 2007 and deducted the net cash.

						Múltiples
(R$ millions)	Market Cap - Average last 30 trading days¹	Net Debt 31/12/07²	EV	EBITDA 07³		EV / EBITDA
Vivo Participações S.A.	13.564	2.661	16.225	3.133		5,18x
TIM Participações S.A.	15.799	1.213	17.012	2.870		5,93x
Tele Norte Celular Participações	173	125	298	109		2,72x
Amazônia Celular	108	172	280	146		1,92x
Average						3,94x
	Data of companies appraised
(R$ millions)	EBITDA 07³	EV / EBITDA	Implied EV	Net Debt 31/12/07²		Implied Equity Value
Telemig Participações	377	3,94x	1.486	(403	)	1.889
Telemig Celular	453	3,94x	1.785	(136	)	1.922

Obs: During the period, instead of net debt, both Telemig Celular and Telemig Participações showed net cash, for which reason values are negative.

Notes:

1. Average Market Cap from the last 30 trading days from the announcement of the Material Fact (August, 02 - 2007). Calculated by multiplying the daily preferred share mid-price by the total amount of shares.

2. For concept and detailed calculation of net debt see Annex “C” . Detailed calculation of EBITDA and Net Debt”

3. EBITDA 2007 of Telemig Participações is proportional to its 83,25% participation held on the operational company.

Source: CVM – ITR and Bloomberg

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C. Detail Calculation of EBITDA and Net Debt

Net Debt Consolidated – 31/12/07 – R$ millions

	Vivo	TIM	Telemig Participações Consolidated		Telemig Participações Alone		Telemig Celular		Telemig Participações Proportional		Tele Norte Celular Consolidated	Tele Norte Celular Alone		Amazônia	Tele Norte Part. Proportional
(-) Cash, Cash Equivalents	2.191	1.173	731		294		437		657		45	15		30	37
Cash, Cash Equivalents	2.191	1.173	731		294		437		657		45	15		30	37
Debt	4.852	2.385	305		4		301		255		213	11		202	162
Short and Long Term Debt	4.381	2.146	148		0		148		123		152	5		147	115
Hedge Operations	448	0	92		0		92		76		53	3		51	41
Interest	0	0	6		0		6		5		5	0		5	3
Dividends	22	240	49		47		1		49		3	3		0	3
Interest on Capital	0	0	11		(43	)	54		2		0	0		0	0
Net Debt / (Net Cash)	2.661	1.213	(426	)	(289	)	(136	)	(403	)	168	(4	)	172	125

Obs: During the period, instead of net debt both Telemig Celular and Telemig Participações showed net cash, for which reason values are negative. Telemig’s Participações values result from its 83,25% participation held in the Telemig Celular. Tele Norte Participações values result from its 74,96% participation held in Amazonia Celular.

EBITDA 2007 – R$ milions

EBITDA
Vivo	3.133
TIM	2.870
Tele Norte Participações	109
Amazônia Celular	146
Telemig Participações	377
Telemig Celular	453

Obs: Telemig’s Participações values result from its 83,25% participation held in the Telemig Celular. Tele Norte Participações values result from its 74,96% participation held in Amazonia Celular.

Source: CVM – ITR

-37-

D. Glossary

•        Net Debt	Net Debt value was calculated by adding Loans and Financing, Debentures, Pension Fund Deficit, Net Balance of asset and liabilities operations with Derivatives, and deducting Cash and Banks
•        EBITDA	“Earnings Before Interest, Taxes, Depreciation and Amortization” is the operating “cash” profit of the company.
•        VTO	Voluntary Tender Offer
•        Company Value	Company Value is calculated by adding market value (product between market price of shares and number of company shares) to net debt, or subtracting from net cash.
•        Equity Value	Company value deducted from net debt

-38-

E. Historical Prices and Volume Traded - TMCP4

TMCP4 BZ Equity			TMCP4 BZ Equity			TMCP4 BZ Equity			TMCP4 BZ Equity
Date	Px Last	Px Volume	Date	Px Last	Px Volume	Date	Px Last	Px Volume	Date	Px Last	Px Volume
4/4/2007	53,6	44.200	1/14/2008	50,74	24.100	10/18/2007	52,5	75.200	7/31/2007	54,9	113.910
4/3/2008	53	79.600	1/11/2008	50,7	21.700	10/17/2007	53,5	489.600	7/30/2007	52,4	97.830
4/2/2008	50,9	183.200	1/10/2008	51,68	27.500	10/16/2007	50,85	44.900	7/27/2007	48,4	90.690
4/1/2008	51	345.400	1/9/2008	50,5	80.000	10/15/2007	51	88.300	7/26/2007	47,7	134.390
3/31/2008	50,2	44.000	1/8/2008	48,5	52.800	10/11/2007	52,49	50.700	7/25/2007	49,6	129.690
3/28/2008	51	38.000	1/7/2008	48,5	46.800	10/10/2007	52,54	21.700	7/24/2007	50,6	115.000
3/27/2008	51,1	108.500	1/4/2008	49,1	53.300	10/9/2007	52,59	47.900	7/23/2007	51,9	47.420
3/26/2008	50,7	25.700	1/3/2008	49,65	34.400	10/8/2007	52,57	21.400	7/20/2007	51,1	54.570
3/25/2008	50,9	74.100	1/2/2008	50,1	43.200	10/5/2007	52,57	99.200	7/19/2007	52	68.410
3/24/2008	51,6	32.500	12/28/2007	48,51	93.000	10/4/2007	52,5	60.800	7/18/2007	52,3	64.410
3/20/2008	50,99	98.800	12/27/2007	50	47.000	10/3/2007	52,4	67.500	7/17/2007	52,6	60.720
3/19/2008	51	48.900	12/26/2007	48,99	46.600	10/2/2007	52,5	91.400	7/16/2007	52,6	71.900
3/18/2008	52,25	97.100	12/21/2007	49,49	77.600	10/1/2007	54	49.500	7/13/2007	53,1	61.090
3/17/2008	51,52	40.800	12/20/2007	46,75	53.300	9/28/2007	53,66	22.400	7/12/2007	53,4	90.790
3/14/2008	52,2	37.800	12/19/2007	47,12	127.500	9/27/2007	54	66.800	7/11/2007	53,3	117.140
3/13/2008	52,8	199.500	12/18/2007	46,9	118.400	9/26/2007	54,14	26.900	7/10/2007	53,5	82.970
3/12/2008	53	180.700	12/17/2007	47,01	96.800	9/25/2007	53,45	51.000	7/6/2007	53,1	88.820
3/11/2008	52,8	39.800	12/14/2007	48,4	28.100	9/24/2007	54,57	32.200	7/5/2007	51,6	104.100
3/10/2008	52,68	28.300	12/13/2007	48,5	87.900	9/21/2007	54,12	41.800	7/4/2007	49,9	26.470
3/7/2008	52,2	62.000	12/12/2007	49,05	121.200	9/20/2007	54	94.600	7/3/2007	50,1	21.480
3/6/2008	52,6	195.900	12/11/2007	49,28	98.700	9/19/2007	53,5	45.900	7/2/2007	50	33.260
3/5/2008	53,53	54.000	12/10/2007	49,43	59.800	9/18/2007	53,5	98.800	6/29/2007	48,7	58.960
3/4/2008	53,69	38.100	12/7/2007	48,91	133.600	9/17/2007	53	68.400	6/28/2007	49,3	36.500
3/3/2008	53	233.900	12/6/2007	49,5	54.200	9/14/2007	55	26.900	6/27/2007	49,5	33.670
2/29/2008	52,5	32.800	12/5/2007	49,56	39.400	9/13/2007	55,7	11.200	6/26/2007	48,8	30.270
2/28/2008	53,15	43.300	12/4/2007	50,23	30.300	9/12/2007	55,19	38.500	6/25/2007	48	55.330
2/27/2008	52,98	49.100	12/3/2007	49,75	37.800	9/11/2007	56,8	17.200	6/22/2007	48,7	48.050
2/26/2008	52,95	73.100	11/30/2007	50	65.600	9/10/2007	55,8	21.300	6/21/2007	49,6	49.000
2/25/2008	52,59	163.400	11/29/2007	49,54	152.900	9/6/2007	57	29.500	6/20/2007	49	118.940
2/22/2008	51,8	36.200	11/28/2007	49,5	67.700	9/5/2007	57	149.800	6/19/2007	48,9	76.910
2/21/2008	51,39	52.000	11/27/2007	49,98	25.100	9/4/2007	57,5	88.600	6/18/2007	49,7	63.330
2/20/2008	51,2	54.500	11/26/2007	49	65.300	9/3/2007	57,9	27.600	6/15/2007	49,2	133.940
2/19/2008	50,5	81.400	11/23/2007	50,9	41.500	8/31/2007	58	272.800	6/14/2007	49,7	44.020
2/18/2008	52	12.900	11/22/2007	49,99	11.000	8/30/2007	56,22	129.600	6/13/2007	49,1	278.250
2/15/2008	51	17.900	11/21/2007	49,75	57.200	8/29/2007	55,7	90.700	6/12/2007	46,7	100.710
2/14/2008	52,22	40.100	11/19/2007	51,2	31.800	8/28/2007	55,5	159.600	6/11/2007	48,9	83.180
2/13/2008	52,92	147.800	11/16/2007	50,8	77.000	8/27/2007	55,5	81.200	6/8/2007	48,1	104.360
2/12/2008	50,6	71.300	11/14/2007	52	169.400	8/24/2007	55,25	61.900	6/6/2007	46,2	140.400
2/11/2008	50,4	133.000	11/13/2007	49,88	61.200	8/23/2007	57,5	76.600	6/5/2007	46,8	73.930
2/8/2008	49,8	45.700	11/12/2007	50,99	33.600	8/22/2007	54,9	114.900	6/4/2007	47,8	73.070
2/7/2008	50,2	136.500	11/9/2007	50	94.000	8/21/2007	53,29	85.200	6/1/2007	48,5	280.180
2/6/2008	50	125.900	11/8/2007	50,15	65.900	8/20/2007	51,5	62.600	5/31/2007	47,3	501.470
2/1/2008	52,96	205.100	11/7/2007	53,3	47.800	8/17/2007	52,25	116.700	5/30/2007	48,8	208.650
1/31/2008	51,01	26.800	11/6/2007	53,93	23.200	8/16/2007	52,1	171.000	5/29/2007	49,5	134.290
1/30/2008	50,64	48.400	11/5/2007	53,1	69.000	8/15/2007	51,5	473.400	5/28/2007	49,6	31.740
1/29/2008	49,8	34.600	11/1/2007	53,3	38.000	8/14/2007	50,2	102.200	5/25/2007	49	228.840
1/28/2008	51	71.300	10/31/2007	53,4	45.200	8/13/2007	51,3	92.620	5/24/2007	47	134.980
1/24/2008	48,7	54.300	10/30/2007	54,3	90.100	8/10/2007	52	127.650	5/23/2007	49	200.340
1/23/2008	48,8	78.100	10/29/2007	53,5	40.700	8/9/2007	52,8	145.680	5/22/2007	47	83.310
1/22/2008	49,89	84.800	10/26/2007	54	42.700	8/8/2007	54,5	191.710	5/21/2007	47	109.120
1/21/2008	48,2	51.300	10/25/2007	54	104.300	8/7/2007	53,6	85.320	5/18/2007	46,2	41.550
1/18/2008	49,5	68.600	10/24/2007	53,51	54.900	8/6/2007	54,4	174.460	5/17/2007	47	34.230
1/17/2008	50,5	72.800	10/23/2007	53,3	219.900	8/3/2007	52,4	265.770	5/16/2007	47	80.110
1/16/2008	50,85	93.900	10/22/2007	52,61	75.400	8/2/2007	53	150.700	5/15/2007	46,4	70.060
1/15/2008	50,63	41.400	10/19/2007	52,78	66.200	8/1/2007	52,3	117.720	5/14/2007	46	48.490
TMCP4 BZ Equity			TMCP4 BZ Equity			TMCP4 BZ Equity			TMCP4 BZ Equity
Date	Px Last	Px Volume	Date	Px Last	Px Volume	Date	Px Last	Px Volume	Date	Px Last	Px Volume
5/11/2007	46,3	76.770	2/21/2007	42,4	121.350	11/28/2006	39,6	66.080	9/5/2006	37	58.870
5/10/2007	45,2	96.010	2/16/2007	39,5	96.210	11/27/2006	39	113.220	9/4/2006	36,2	54.060
5/9/2007	44,5	79.970	2/15/2007	39,6	71.920	11/24/2006	41	67.570	9/1/2006	36,8	100.070
5/8/2007	44,6	25.750	2/14/2007	39,8	250.920	11/23/2006	40	82.860	8/31/2006	35,5	252.670
5/7/2007	45,9	28.410	2/13/2007	38,9	48.250	11/22/2006	41	125.030	8/30/2006	36	101.020
5/4/2007	46,3	30.840	2/12/2007	38,1	40.020	11/21/2006	42	67.130	8/29/2006	33,5	30.100
5/3/2007	46,2	39.690	2/9/2007	38,4	48.300	11/17/2006	42	49.730	8/28/2006	33,6	102.970
5/2/2007	46,1	65.490	2/8/2007	39	38.000	11/16/2006	42	82.690	8/25/2006	32	94.220
4/30/2007	44,9	127.820	2/7/2007	38,8	71.030	11/14/2006	42	118.920	8/24/2006	32,1	96.410
4/27/2007	44,5	59.610	2/6/2007	39,2	35.440	11/13/2006	40	114.520	8/23/2006	33,1	111.370
4/26/2007	44,8	77.080	2/5/2007	39,9	16.920	11/10/2006	40	197.910	8/22/2006	34,3	67.610
4/25/2007	46,7	126.940	2/2/2007	39,7	42.640	11/9/2006	39	254.650	8/21/2006	35	44.220
4/24/2007	44,1	44.230	2/1/2007	39,4	41.380	11/8/2006	40	110.640	8/18/2006	35,9	46.020
4/23/2007	44	46.390	1/31/2007	40,2	57.590	11/7/2006	40	156.300	8/17/2006	35,9	80.140
4/20/2007	44,5	113.180	1/30/2007	39,2	69.190	11/6/2006	39	222.980	8/16/2006	36	304.320
4/19/2007	43,5	91.840	1/29/2007	38,8	49.680	11/3/2006	38	223.920	8/15/2006	36	76.530
4/18/2007	42,6	125.390	1/26/2007	39	35.230	11/1/2006	37	106.170	8/14/2006	35,1	47.310
4/17/2007	42,8	76.790	1/24/2007	40,3	45.870	10/31/2006	37	111.230	8/11/2006	34,9	50.940
4/16/2007	42,5	126.450	1/23/2007	40,3	49.450	10/30/2006	37	43.690	8/10/2006	36,5	21.340
4/13/2007	41,8	129.710	1/22/2007	40	37.460	10/27/2006	37	45.160	8/9/2006	36,5	35.760
4/12/2007	41,1	106.810	1/19/2007	40,1	40.340	10/26/2006	38	54.000	8/8/2006	36,6	39.300
4/11/2007	40,8	92.580	1/18/2007	39,6	60.510	10/25/2006	38	57.050	8/7/2006	36,2	17.880
4/10/2007	40,3	183.500	1/17/2007	38,7	24.040	10/24/2006	38	57.550	8/4/2006	36,7	30.010
4/9/2007	39,9	61.300	1/16/2007	38,5	33.580	10/23/2006	39	78.840	8/3/2006	36	38.500
4/5/2007	39,5	36.160	1/15/2007	39,2	32.240	10/20/2006	37	43.660	8/2/2006	35,2	67.070
4/4/2007	39	38.250	1/12/2007	39,6	52.200	10/19/2006	38	69.500	8/1/2006	35,3	88.960
4/3/2007	39,3	97.090	1/11/2007	39,3	83.740	10/18/2006	38	198.950
4/2/2007	38,3	36.420	1/10/2007	38,5	110.850	10/17/2006	39	69.820
3/30/2007	38,9	71.030	1/9/2007	36,6	71.760	10/16/2006	40	36.230
3/29/2007	38,3	68.110	1/8/2007	37	107.990	10/13/2006	39	68.040
3/28/2007	37,7	88.200	1/5/2007	37,1	156.860	10/11/2006	39	40.940
3/27/2007	38,2	48.020	1/4/2007	39,5	127.870	10/10/2006	40	128.210
3/26/2007	38,2	62.490	1/3/2007	39,4	98.800	10/9/2006	41	123.990
3/23/2007	39,2	27.180	1/2/2007	40,6	48.050	10/6/2006	40	61.060
3/22/2007	39,5	107.560	12/28/2006	40,5	50.600	10/5/2006	40	91.280
3/21/2007	40,2	148.940	12/27/2006	40,4	92.120	10/4/2006	40	119.650
3/20/2007	38,4	116.280	12/26/2006	39	38.410	10/3/2006	40	42.700
3/19/2007	38,2	77.620	12/22/2006	39	27.380	10/2/2006	40	122.400
3/16/2007	37,7	99.210	12/21/2006	39	45.550	9/29/2006	40	42.490
3/15/2007	37,4	114.230	12/20/2006	39,4	59.290	9/28/2006	41	28.580
3/14/2007	38,4	103.500	12/19/2006	39,8	60.810	9/27/2006	40	42.250
3/13/2007	38,6	146.710	12/18/2006	39,7	46.510	9/26/2006	41	54.650
3/12/2007	40	59.500	12/15/2006	40,4	84.630	9/25/2006	41	31.530
3/9/2007	39,3	46.700	12/14/2006	40,3	44.090	9/22/2006	41	75.750
3/8/2007	38,5	42.370	12/13/2006	40,1	223.230	9/21/2006	41	130.840
3/7/2007	37,6	68.790	12/12/2006	39,3	67.080	9/20/2006	40	97.380
3/6/2007	38,8	84.490	12/11/2006	39	53.820	9/19/2006	40	123.150
3/5/2007	37,3	64.780	12/8/2006	39,4	27.530	9/18/2006	40	35.420
3/2/2007	38,1	179.750	12/7/2006	39,6	58.580	9/15/2006	40	49.690
3/1/2007	39,2	127.380	12/6/2006	39,3	54.620	9/14/2006	40	125.240
2/28/2007	38,4	163.770	12/5/2006	39,6	85.420	9/13/2006	40	43.750
2/27/2007	38	191.240	12/4/2006	39,5	148.850	9/12/2006	40	50.910
2/26/2007	41,8	96.630	12/1/2006	39,3	69.500	9/11/2006	40	108.760
2/23/2007	41,7	54.950	11/30/2006	39,8	61.260	9/8/2006	41	152.580
2/22/2007	43,7	122.900	11/29/2006	40,5	86.090	9/6/2006	37	79.180

-39-

F. Historical Prices and Volume Traded - TMGC7

TMGC7 Equity			TMGC7 Equity			TMGC7 Equity			TMGC7 Equity			TMGC7 Equity			TMGC7 Equity
Date	Px Last	Px Volume	Date	Px Last	Px Volume	Date	Px Last	Px Volume	Date	Px Last	Px Volume	Date	Px Last	Px Volume	Date	Px Last	Px Volume
4/2/2008	600	1	6/27/2007	520,00	0,0	4/9/2007	500,01	0,0	1/16/2007	500,00	0,0	10/23/2006	350,10	0,0	8/3/2006	362,00	0,0
3/28/2008	600	126	6/26/2007	520,00	20,0	4/5/2007	500,01	0,0	1/15/2007	500,00	0,0	10/20/2006	350,10	0,0	8/2/2006	362,00	111,0
3/4/2008	600	2	6/25/2007	520,00	0,0	4/4/2007	500,01	0,0	1/12/2007	500,00	0,0	10/19/2006	350,10	0,0
1/23/2008	600	1	6/22/2007	520,00	77,0	4/3/2007	500,01	0,0	1/11/2007	500,00	0,0	10/18/2006	350,10	0,0
1/21/2008	600	28	6/21/2007	500,00	1,0	4/2/2007	500,01	0,0	1/10/2007	500,00	4,0	10/17/2006	350,10	0,0
1/18/2008	600	1	6/20/2007	500,00	1,0	3/30/2007	500,01	0,0	1/9/2007	500,00	0,0	10/16/2006	350,10	0,0
1/17/2008	600	104	6/19/2007	451,00	2,0	3/29/2007	500,01	0,0	1/8/2007	500,00	0,0	10/13/2006	350,10	0,0
1/16/2008	600	81	6/18/2007	520,00	0,0	3/28/2007	500,01	0,0	1/5/2007	500,00	0,0	10/11/2006	350,10	0,0
1/3/2008	600	4	6/15/2007	520,00	0,0	3/27/2007	500,01	0,0	1/4/2007	500,00	6,0	10/10/2006	350,10	1,0
12/28/2007	600	15	6/14/2007	520,00	0,0	3/26/2007	500,01	0,0	1/3/2007	500,00	55,0	10/9/2006	355,00	0,0
12/26/2007	600	23	6/13/2007	520,00	0,0	3/23/2007	500,01	6,0	1/2/2007	600,00	200,0	10/6/2006	355,00	0,0
12/17/2007	600	9	6/12/2007	520,00	0,0	3/22/2007	500,00	0,0	12/28/2006	550,00	0,0	10/5/2006	355,00	0,0
12/13/2007	600	2	6/11/2007	520,00	0,0	3/21/2007	500,00	0,0	12/27/2006	550,00	70,0	10/4/2006	355,00	0,0
12/10/2007	600	20	6/8/2007	520,00	0,0	3/20/2007	500,00	0,0	12/26/2006	499,98	15,0	10/3/2006	355,00	0,0
12/3/2007	610,01	1	6/6/2007	520,00	0,0	3/19/2007	500,00	0,0	12/22/2006	469,00	0,0	10/2/2006	355,00	0,0
11/27/2007	601	1	6/5/2007	520,00	0,0	3/16/2007	500,00	0,0	12/21/2006	469,00	0,0	9/29/2006	355,00	0,0
11/22/2007	610	1	6/4/2007	520,00	0,0	3/15/2007	500,00	0,0	12/20/2006	469,00	0,0	9/28/2006	355,00	0,0
10/24/2007	610	1	6/1/2007	520,00	0,0	3/14/2007	500,00	0,0	12/19/2006	469,00	1,0	9/27/2006	355,00	0,0
10/19/2007	602	1	5/31/2007	520,00	0,0	3/13/2007	500,00	0,0	12/18/2006	450,00	0,0	9/26/2006	355,00	0,0
9/11/2007	650	41	5/30/2007	520,00	0,0	3/12/2007	500,00	0,0	12/15/2006	450,00	0,0	9/25/2006	355,00	0,0
9/5/2007	650	30	5/29/2007	520,00	0,0	3/9/2007	500,00	0,0	12/14/2006	450,00	0,0	9/22/2006	355,00	0,0
8/31/2007	650	8	5/28/2007	520,00	0,0	3/8/2007	500,00	0,0	12/13/2006	450,00	0,0	9/21/2006	355,00	66,0
8/27/2007	650	1	5/25/2007	520,00	0,0	3/7/2007	500,00	0,0	12/12/2006	450,00	0,0	9/20/2006	355,00	0,0
8/16/2007	600	63	5/24/2007	520,00	0,0	3/6/2007	500,00	0,0	12/11/2006	450,00	0,0	9/19/2006	355,00	0,0
8/13/2007	670	10	5/23/2007	520,00	0,0	3/5/2007	500,00	0,0	12/8/2006	450,00	0,0	9/18/2006	355,00	0,0
8/10/2007	650	32	5/22/2007	520,00	0,0	3/2/2007	500,00	10,0	12/7/2006	450,00	0,0	9/15/2006	355,00	2,0
8/9/2007	650	150	5/21/2007	520,00	0,0	3/1/2007	500,00	10,0	12/6/2006	450,00	0,0	9/14/2006	360,00	470,0
8/8/2007	650	171	5/18/2007	520,00	43,0	2/28/2007	520,00	0,0	12/5/2006	450,00	0,0	9/13/2006	362,00	9,0
8/7/2007	650	100	5/17/2007	470,00	0,0	2/27/2007	520,00	0,0	12/4/2006	450,00	0,0	9/12/2006	350,00	0,0
8/6/2007	650	460	5/16/2007	470,00	0,0	2/26/2007	520,00	9,0	12/1/2006	450,00	0,0	9/11/2006	350,00	0,0
8/3/2007	650	527	5/15/2007	470,00	0,0	2/23/2007	520,00	0,0	11/30/2006	450,00	0,0	9/8/2006	350,00	0,0
8/1/2007	502,00	0,0	5/14/2007	470,00	0,0	2/22/2007	520,00	0,0	11/29/2006	450,00	2,0	9/6/2006	350,00	0,0
7/31/2007	502,00	0,0	5/11/2007	470,00	0,0	2/21/2007	520,00	0,0	11/28/2006	400,00	0,0	9/5/2006	350,00	0,0
7/30/2007	502,00	1,0	5/10/2007	470,00	0,0	2/16/2007	520,00	0,0	11/27/2006	400,00	1,0	9/4/2006	350,00	0,0
7/27/2007	550,00	0,0	5/9/2007	470,00	0,0	2/15/2007	520,00	0,0	11/24/2006	400,00	0,0	9/1/2006	350,00	0,0
7/26/2007	550,00	0,0	5/8/2007	470,00	3,0	2/14/2007	520,00	0,0	11/23/2006	400,00	0,0	8/31/2006	350,00	0,0
7/25/2007	550,00	0,0	5/7/2007	480,00	0,0	2/13/2007	520,00	0,0	11/22/2006	400,00	0,0	8/30/2006	350,00	66,0
7/24/2007	550,00	1,0	5/4/2007	480,00	2,0	2/12/2007	520,00	0,0	11/21/2006	400,00	0,0	8/29/2006	350,00	0,0
7/23/2007	570,00	0,0	5/3/2007	500,00	100,0	2/9/2007	520,00	0,0	11/17/2006	400,00	0,0	8/28/2006	350,00	0,0
7/20/2007	570,00	0,0	5/2/2007	500,00	1,0	2/8/2007	520,00	0,0	11/16/2006	400,00	0,0	8/25/2006	350,00	0,0
7/19/2007	570,00	0,0	4/30/2007	500,00	0,0	2/7/2007	520,00	0,0	11/14/2006	400,00	1,0	8/24/2006	350,00	0,0
7/18/2007	570,00	0,0	4/27/2007	500,00	0,0	2/6/2007	520,00	0,0	11/13/2006	350,00	0,0	8/23/2006	350,00	0,0
7/17/2007	570,00	0,0	4/26/2007	500,00	0,0	2/5/2007	520,00	2,0	11/10/2006	350,00	0,0	8/22/2006	350,00	0,0
7/16/2007	570,00	0,0	4/25/2007	500,00	0,0	2/2/2007	520,00	0,0	11/9/2006	350,00	0,0	8/21/2006	350,00	0,0
7/13/2007	570,00	0,0	4/24/2007	500,00	2,0	2/1/2007	520,00	0,0	11/8/2006	350,00	0,0	8/18/2006	350,00	0,0
7/12/2007	570,00	0,0	4/23/2007	500,00	0,0	1/31/2007	520,00	0,0	11/7/2006	350,00	0,0	8/17/2006	350,00	6,0
7/11/2007	570,00	0,0	4/20/2007	500,00	0,0	1/30/2007	520,00	4,0	11/6/2006	350,00	0,0	8/16/2006	360,00	0,0
7/10/2007	570,00	1,0	4/19/2007	500,00	0,0	1/29/2007	500,00	5,0	11/3/2006	350,00	0,0	8/15/2006	360,00	0,0
7/6/2007	570,00	0,0	4/18/2007	500,00	0,0	1/26/2007	500,00	0,0	11/1/2006	350,00	0,0	8/14/2006	360,00	0,0
7/5/2007	570,00	11,0	4/17/2007	500,00	0,0	1/24/2007	500,00	0,0	10/31/2006	350,00	2,0	8/11/2006	360,00	100,0
7/4/2007	520,00	0,0	4/16/2007	500,00	131,0	1/23/2007	500,00	1,0	10/30/2006	350,00	2,0	8/10/2006	362,00	0,0
7/3/2007	520,00	2,0	4/13/2007	500,01	0,0	1/22/2007	500,00	0,0	10/27/2006	350,00	1,0	8/9/2006	362,00	0,0
7/2/2007	510,00	0,0	4/12/2007	500,01	0,0	1/19/2007	500,00	0,0	10/26/2006	350,00	0,0	8/8/2006	362,00	0,0
6/29/2007	510,00	0,0	4/11/2007	500,01	0,0	1/18/2007	500,00	0,0	10/25/2006	350,00	0,0	8/7/2006	362,00	0,0
6/28/2007	510,00	10,0	4/10/2007	500,01	0,0	1/17/2007	500,00	0,0	10/24/2006	350,00	29,0	8/4/2006	362,00	0,0

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