Press Release

1. Base Proposition: PLMJ has the distinct characteristics of what we like to call “depth”: in a market where excellent law firms exist, one of our differentiating factors being the seniority and accumulated experience of our Partners and Senior Associates, in a number substantially higher than that of our competitors. This allows PLMJ to have several task forces working at the same time on very complex and sophisticated operations.

2. The exemplary case of the end of the Year: December is normally a complicated month in companies (public holidays, Christmas Season, period between Christmas and the New Year). Consequently it may be said that this month is not the most adequate to show what we have just stated. This is why it is exemplary.

3. The projected significance of services rendered at the end of the year: Invoicing and receipt of payments in a law firm are subsequent to the rendering of services. Therefore, the work performed in the last months of the year will emerge in the accountancy of the following year. A large number of operations at the end of the year is a sign that the following year will commence with very significant collectable output values. Therefore, as 2006 was the best year ever for PLMJ and also the dimension, volume and quality of work finalised in December has never been so relevant, we are lead to anticipate that – jointly with a high increase in the invoicing of 2006 in relation to payments received in the same year –2007 will be an excellent year.

4. Real Estate Mergers and Acquisitions: In December, 2006, 11 real estate operations were closed (or the essential negotiation process terminated, solely awaiting formalisation) in which the Team Leaders Pedro Sáragga Leal, Victor Réfega Fernandes, Gabriela Rodrigues Martins, Maria José Verde, Sofia Gomes da Costa and Vasco Ataide Marques were involved, in a global value exceeding 2 thousand million Euros. That is to say, PLMJ was able to mobilise 6 experienced teams at the same time, all lead by Partners. Among those operations are the sale of Vale of Lobo (Maria José Verde), the sale of Amorim Imobiliária (Gabriela Rodrigues Martins), the sale of a large office building in Avenida da Liberdade (Maria José Verde), the acquisition of “Fórum Theatrum Bragança” (Sofia Gomes da Costa), the sale of Hotel Alfa Mar (Pedro Sáragga Leal), the sale of the building “O Paço” in Leiria (Pedro Sáragga Leal) and acquisitions and sales of real estate projects of a high value to several real estate funds, at the same time that negotiations were in course for more than a dozen projects, some of them of high profile significance. The restructuring of the valuable real estate patrimony of an Association was also completed at the end of the year (Victor Réfega Fernandes).

5. Other M&A, Private Equity, Project Finance and Financial Law operations: Among other operations concluded or in course, the acquisition by Permira of the frozen food business of Unilever in the part of the business existing in Portugal (Maria Castelos) was closed, under the scope of the renegotiation of a Water and Sanitation Concession, the refinancing of the Concession with renegotiation of the Financing Contract with EIB and with the Syndicate of Guarantor Banks was made (Maria Castelos), the installation of a wind energy park in Sabugal (Manuel Santos Vítor) and the project finance of that same park (Maria Castelos) was negotiated and we also have the entry of ES Venture in the capital stock of Chipidea (Maria Castelos), an acquisition in Turkey made by Cimpor (Fernando Campos Ferreira) and assistance to one of the competing bidders for the acquisition of a participation in REN (Maria Castelos). Still within the area of Mergers and Acquisitions, several operations were concluded, among which the sale of an important catering operation (Vasco Ataíde Marques).

6. Concessions and Public Private Partnerships (PPP’s): However, at the same time, in the area of Concessions and of PPP’s, PLMJ assisted at the end of the year in the negotiation of six concession contracts of high values, with teams lead by Rui Chancerelle de Machete (tender for wind energies, assisting the winning group), by Manuel Santos Vítor (concession for oil and phosphate exploitations in Guinea), by Maria José Verde (Water Supply and Sanitation Concession in the North of the country), Victor Réfega Fernandes and Maria Castelos (Greater Lisbon Motorway Concession), by Frederico Perry Vidal (Concession of the Technology and Business Park in Felgueiras) and by Filipe Vieira (Sports and Commercial Complex in Campo Maior), in which the values concerned are around thousands of millions of Euros. PLMJ also negotiated at the end of the year an agreement with Estradas de Portugal, which ended arbitration proceedings in the area of concessions (team coordinated by Pedro Melo) in a value exceeding 130 million Euros.

7. Litigation and Arbitration: In this area, a very important victory was also achieved at the Court of Justice of the European Communities in a litigation against the Commission and in representation of more than 100 industrial companies in Portugal, Spain, France, Italy and Greece in which the amounts concerned may exceed several tens of millions of Euros (José Luís Cruz Vilaça lead the Team) and two arbitrations were terminated by agreement in values exceeding 30 million Euros (João Carlos Medeiros and Paulo Farinha Alves). The negotiation of an agreement in Mozambique was achieved in which more than 10 million Euros was in question. The last days of the year were also of intense work for the Litigation Teams of PLMJ. In fact, taking advantage of the benefits of the Budget Law of 2006 concerning the relieving of congestion of legal disputes, more than ten legal settlements were reached in the last days of the year, in values of many hundreds of thousands of Euros for the benefit of PLMJ Clients.