Oi's Subsidiary Provider of Submarine Capacity, GlobeNet, Named Winner of Global Telecoms Business' 2012 Innovation Awards

BOCA RATON, FL--(Marketwire - Jun 13, 2012) - Oi's subsidiary provider of submarine capacity, GlobeNet, announces today that Global Telecoms Business has named GlobeNet's Ultra Low Latency Trading Connection to Brazil the winner of the Wholesale Service Innovation Category. The Global Telecoms Business Innovation Awards honor the most innovative projects of the world's telecommunication operators and service providers in collaboration with their suppliers and vendors.

GlobeNet's ultra-low latency trading connection to Brazil, the fastest available to BM&F BOVESPA, was created in response to the increased customer demand to quickly access the emerging Latin American market. The route directly links São Paulo's BM&F BOVESPA to New Jersey's NASDAQ OMX and routes to major global exchanges such as the CME, NYSE, BATS, LSE, Deutsche Börse and Eurex. The route also creates a diverse connection that avoids the congestion of the New York City metro area and connects directly to the New Jersey NASDAQ facility through our partner's networks; creating new express connectivity with Chicago, Toronto, London and Tokyo financial exchanges.

"GlobeNet is honored to receive this award for our Low Latency Trading Connection to Brazil's BM&F BOVESPA," states Erick W. Contag, Chief Operating Officer of GlobeNet. "With Brazil quickly becoming an international trading hub, the route can act as a key differentiator for financial firms requiring seamless and secure access to conduct their transactions."

For more information on GlobeNet, please visit www.globenet.net.

About GlobeNet
GlobeNet provides International capacity between North and South America over a dual ring-protected submarine cable system serving Brazil, Bermuda, Colombia, the U.S.A., and Venezuela. Covering a distance of more than 22,000 kilometers, this sophisticated submarine cable network system is fully redundant and offers the lowest latency available between the Americas. The network links cable landing stations in Tuckerton, NJ and Boca Raton, FL, USA, with cable landing stations in Fortaleza (CE) and Rio de Janeiro (RJ), Brazil, St. David's, Bermuda as well as Maiquetía (Caracas) Venezuela. GlobeNet is a wholly owned subsidiary of Brazilian full-service telecommunications provider Oi.

For more information on GlobeNet, please visit www.globenet.net

About Oi
Oi is a pioneer company in the provision of bundled services in Brazil. Oi offers local and long-distance voice transmission, mobile telephony, broadband and pay TV. In March 2012, the company had 70.8 million revenue generating units (RGUs). This total includes 44.1 million in personal mobile segment, 18.6 million in residential segment and 8.1 million in business/corporate segment.

For the fourth consecutive year, Oi is part of the ISE - Corporate Sustainability Index portfolio of the BM&F BOVESPA, reflecting the company's commitment to social responsibility and corporate sustainability. For the second consecutive year, Oi is also part of the IC02 -- Carbon Efficiency Index -- of the BM&F Bovespa.