Terms of the Exchange of Credits for Shares of Oi/TmarPart and the Option for the Purchase of Shares in Treasury to be Submitted to the Governing Bodies of the Companies

RIO DE JANEIRO, July 28, 2014 /PRNewswire/ -- Oi S.A. ("Oi," Bovespa: OIBR3, OIBR4; NYSE: OIBR and OIBR.C) and Telemar Participacoes S.A., ("TmarPart") in compliance with art. 157, §4 of Law No. 6,404/76 (the "Brazilian Corporation Law") and the Brazilian Securities and...

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