SAO PAULO, Brazil, March 30 /PRNewswire-FirstCall/ -- The management of Vivo Participacoes S.A. (formerly known as Telesp Celular Participacoes S.A. (NYSE:TCP) ("Vivo" or "TCP") and of Tele Centro Oeste Celular Participacoes S.A. (NYSE:TRO) ("TCO") announced the completion of the merger of shares of TCO with Vivo and the merger of companies of Tele Leste Celular Participacoes S.A. (NYSE:TBE) ("TLE"), Tele Sudeste Celular Participacoes S.A. (NYSE:TSD) ("TSD") and Celular CRT Participacoes S.A. into Vivo. The mergers were approved by the voting shareholders of all the companies at extraordinary general shareholders' meetings held on February 22, 2006 and were legally effective from that date. The period for the exercise of appraisal rights by shareholders of the companies who had a right to exercise such rights ended on March 27, 2006. American Depositary Shares ("ADSs") of TCP, TCO, TLE and TSD will continue trading on the New York Stock Exchange under their existing ticker symbols until the end of trading today, March 30, 2006. Beginning on March 31, 2006, the ADSs of Vivo are expected to trade on the New York Stock Exchange under the ticker symbol "VIV." The Bank of New York, as depositary for the ADS programs of TCO, TLE and TSD, will close its books for all transfers and other transactions involving ADSs of those companies on April 4, 2006. The depositary will begin to deliver American Deposit Receipts ("ADRs") representing Vivo ADSs to holders of ADRs of TCO, TLE and TSD on or about April 5, 2006 at the applicable exchange ratios based on the registered holders of ADSs of TCO, TLE and TSD at the close of business on April 4, 2006. Important notice: Investors in ADSs of TCP, TCO, TLE and TSD and U.S. holders of common shares and preferred shares of TCP, TCO, TLE, TSD and Celular CRT are urged to read the Prospectus, dated January 24, 2006, of TCP (which also serves as an information statement for holders of ADSs of TCP and U.S. holders of shares of TCP) relating to the mergers described above because it contains important information. Investors and security holders may obtain a free copy of the Prospectus and other documents filed by TCP with the SEC at the SEC's website at http://www.sec.gov/. A copy of the Prospectus may also be obtained for free from Vivo. Forward-looking statements: This press release contains forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future events. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward- looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, and any changes in such assumptions or factors could cause actual events to differ materially from current expectations. DATASOURCE: Vivo Participacoes S.A. CONTACT: Charles Allen, +5511-5105-1172 for Vivo Participacoes S.A. Web site: http://www.vivo.com.br/

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