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

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

BES also informed of the following:

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

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

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

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

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

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

EDP – Energias de Portugal, S.A.