SAO PAULO, Brazil, April 30 /PRNewswire-FirstCall/ -- VIVO Participacoes S.A. (VIVO) (Bovespa: VIVO3 [ON = Common Shares] / VIVO4 [PN = Preferred Shares]; NYSE: VIV), announced its consolidated results for the first quarter of 2008 (1Q08). In the first quarter 2008, Vivo continued to keep its leadership position on the Brazilian market in number of customers, which will be further increased after the conclusion of the purchase of Telemig Celular Participacoes on April 03, 2008. From now on, Vivo will definitely operate in one of the largest Brazilian states and broaden its coverage with the best connection quality in Brazil. Around 4 million customers of Telemig Celular will be added to Vivo's customer base, making up a community of 38 million customers, which places Vivo among the 15 largest world operators. With the slogan "What is good can become even better", Vivo marks its arrival to Minas Gerais state. R$ million 1Q08 4Q07 1Q07 Net Revenue 3,332.0 3,372.2 2,850.8 Total Operating Costs (2,370.8) (2,463.9) (2,093.8) EBITDA 961,2 908,3 757.0 EBITDA Margin (%) 28.8% 26.9% 26.6% Net Result 89.6 28.3 (19.3) Number of customers (thousand) 34,323 33,484 29,030 Market share 36.1% 36.7% 37.4% Net Additions (thousand) 839 2,164 (23) In March, the customer base reached 34,323 thousand customers, ensuring its leadership with a 27.3% market share. The GSM operation reached more than 14.6 million accesses in this technology, representing more than 42% of the total customer base, a 30.4% growth over 4Q07; Service Revenue of R$3,022.6 million, an increase of 15.8% over 1Q07 and of 1.2% over 4Q07; Self-supported data and VAS revenue, which grew 47.7% in relation to 1Q07, representing 10.4% of the net service revenue in 1Q08; EBITDA margin in the quarter of 28.8% growing 2.3 percentage points over 1Q07. EBITDA reaching R$ 961.2 million, the highest recorded in the last five quarters, representing a growth of 27.0%. In the comparison over 4Q07, the EBITDA grew 5.8%; The operating cash flow recorded R$ 704.6 million, a growth of 35.1% in relation to 1Q07, evidencing the growth and capacity to generate resources to finance the development of the company; The net debt recorded the amount of R$2,907.7 million in 1Q08, representing a reduction of 12.0% in relation to 1Q07, as a result of the increase in available resources. The FISTEL fee was paid in this quarter, while in 2007 it was paid in the second quarter; For the third consecutive quarter the company recorded Net Profit, which reached R$ 89.6 million in the quarter, reversing the negative result recorded in 1Q07 and an increase of 216.6% in relation to 4Q07. To download the complete version of the Company's earnings release, please visit our website: http://www.vivo.com.br/ir DATASOURCE: VIVO Participacoes S.A. CONTACT: Investor Relations: , +55-11-7420-1172 Web site: http://www.vivo.com.br/ir

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