Tim Presentation Ubs Conference Presentation Dec09

0

New York – December 1st / 2nd 2009

TIM Participações S.A(Bovespa: TCSL4, TCSL3; NYSE: TSU)

UBS LAT/EMEA One-on-One Conference

1

TIM PARTICIPAÇÕES S.A. | Investor Relations

Re-Launch Plan Update

New Commercial Approach and Portfolio

Highlights on 3Q Results

Intelig Deal Update

Attachments - Market Facts and Historical Data

2


Our Path in 2009

Customer Base and Market Share

2Q09

Launch of Infinity Plans (Pre and Post-paid)

Loyalty (Handset and Monthly Fee Discounts)

Push on Sales:

- Focused on Post-paid and MNP

- Network Rationalization

- New ways to encourage Usage

MOU

3Q09

Encourage Usage:

- Infinity (Pre and Post) and launched of “Blue” Concept (Local and LD)

- Quick-win of pre-paid clients

Push on Sales and CRM action

Clients migration to new plans (Pre)

Δ Post-paid Clients and SAC/ARPU

4Q09

Focusing on Post-paid:- Liberty- Infinity / ÚnicoGo-2-Market Model: Chip Only, as alternative to traditional modelAcceleration and Network Development: - 2G Capacity - 3G CoverageIntelig

Awareness and Quality

1Q09

Brand: new format and increasing Share of Investments

Network Quality:capacity, access, transportation (LD)

Costumers Satisfaction Recoveryin all Consumer Segments

KPIs

3


Our Main Achievements

TIM reverses market share trend (net share of 27.3% in 3Q, after 29.1% in 2Q, vs. ~24% of market share)

Improving pre-paid customer base (Infinity Pre-paid: >11 million clients in 6 months)

End of post-paid base erosion, after 15 months (Infinity Post-paid and TIM Único)

Re-launch costs +R$ 0.5 Bln 9M YoYAdvertising, CRC, network quality and commissioning

Self-financing -R$ 0.7 Bln 9M YoYthrough Efficiency PlanInterconnection, Bad Debt and Personnel

ΔEBITDA +6.7% 9M YoYDespite -0.9% of revenues decrease

Brand: improve in Awareness and Top of Mind

Customer Satisfaction:

recovery quality level in all customer segments

Quality: confirmed #2 Anatel (with MOU +30% higher than 1Q09)

Subscriber’s base

Jul ‘08

7.41

Jan ’09

6.60

Jul ’09

7.47Overall

6.22 5.89 6.88Post-paid

Continuous improvement on KPIs QoQ

Sources: ABA (Associação Brasileira de Anunciantes)

Positioning(Brand and Quality)

Positioning(Brand and Quality) Subscriber Base GrowthSubscriber Base Growth Self-financingSelf-financing

4


Brand: improving in Awareness and Top of Mind

Sources: Ibope Monitor, TIM Brasil - Pesquisa de imagem (Synovate – third-party survey institute) and weekly communication tracking* RJ and SP – last week of the month

Share of Investments

Share of Voice

2006 2007 2008 Jan-Aug ‘09

TV – GRP 15”+

2008 Jan-Aug ‘09

TIMPlayer 1

Player 2Player 3

Top of Mind

Oct-Nov07

May-Jun08

Oct-Nov08

Jun/09

•ABA: #1•Folha de SP: # 2

Awareness

May/09 Jun/09 Jul/09 Aug/09 Sep/09

30%32%

15% 16%

29%

24% 19%

17%

26%

31%

26%28% 28%

26%

15%

18%

5%

10%

15%

20%

25%

30%

35%

40%

21%

32%

25%

20%

29%

23%23%21%

41%

27%23%

31%

44%

30%

42%

53%

34%

29% 29%

20%

32% 33%33% 34%

33%

50%

22%

31%

31%29%

28%29%29%27%

30%

27%

22%22%21%20%

19%18%20%

22%

5


Customer Satisfaction: quality level recovery in all customer segments

Customer Care SatisfactionCustomer satisfaction Index

Δ vs lastmeasure

Rankingoct/08 may/09

#1

#1

#1

#1

+0.44

+0.36

+0.72

+0.87

* Jul/09 and Aug/09Sources: TIM Brasil - 12nd Customer Satisfaction Monitoring - may-jun/09; CRC Monthly Satisfaction Research

CRC Average satisfaction, consumer segment

#3

#2

#4

#4

Client satisfaction recovery in all segments

From 0 (dissatisfied) to 10 (maximum satisfaction)

Pre-paid

Post-paid

8.43

8.50

8.06

7.96

Overall

Pre

Post

PostHigh

-0,5

+0,7

+0,5

7.57.4

7.07.1

7.5

6,7

6,9

7,1

7,3

7,5

7,7

7,9

3Q08 4Q08 1Q09 2Q09 3Q09*

6.76.6

6.3

6.06.1

5,7

5,9

6,1

6,3

6,5

6,7

6,9

7,1

3Q08 4Q08 1Q09 2Q09 3Q09*

6


90.7%

97.3%

87.6%

94.0%96.4%

82,00%

84,00%

86,00%

88,00%

90,00%

92,00%

94,00%

96,00%

98,00%

100,00%

4Q08 1H09 jul/09 aug/09 sep/09

Quality: Improvement of Customer Care and NetworkOverall Service Quality – YTD’ 2009 Overall Service Quality – Sept’ 2009

# 2

Network Service Quality (*)

Jan/09 Set/09 Delta (p.p.)

TIM 84.1% 97.3% +13.2

Player 1 100.0% 99.1% -0.9

Player 2 95.7% 96.5% +0.8

Player 3 53.8% 50.0% -3.8

MainMobileOperators

Fonte: Anatel(*) SMP Anatel 3, 5, 6, 7 and 12

86MOU 71 90

-0.2 +5.2 -0.9-7.8-5.1-1.2+2.1

% target achieved in overall service quality, TIM vs. competitors % target achieved in overall service quality, TIM vs. competitors

% target achieved in network quality , TIM vs. competitors % target achieved in TIM network quality

∆ppYTD 09vs. FY08

99.3%96.8% 95.5% 93.9% 92.6%

83.0%

90.2%

Player 1 TIM Player 6 Player 5 Player 4 Player 2 Player 3

99.2% 97.7% 95.5%90.9%

85.5% 81.8%

65.9%

Player 1 TIM Player 6 Player 4 Player 2 Player 5 Player 3

7


Net Additions

-17.2% 34.9% 27.5%

Pre-paidPost-paid

Net Adds YoY Growth (%)

(000’s lines)

(1) (250) (397)

42 87

1,393 1,446

91

1,687 1,687

3Q08 4Q08 1Q09 2Q09 3Q09

1,7741,7291,392

(306)

1,196

N/A-42.9%

..Invert the trend

After four quarters of market share erosion…

… TIM confirmed trend reversal

Net Share (%)

MarketShare (%)

27.3%

23.7% 23.8%

29.1%

17.4% 18.3%

26.5%

12.1%-10.1%

25.9%

25.0%25.4%24.2% 23.5%

3Q08 4Q08 1Q09 2Q09 3Q092Q08

Subscriber Base Growth: Reverting negative trends

1Q08

Returning to increase in post-paid… …and market share

8


Self-financing the Re-launch plan…

Interconnection

Bad Debt

G&A

EBITDA

+0.5

-0.7

8.9 8.8

0

-0.08

+0.59

+0.13

Set-09 YTD vs. YA

-0.9%

+10.0%

+6.7%

-0.9%

3.8 3.1

3.1 3.6

+6.7%

Bln R$

ServiceRevenues

ServiceMargin*

EBITDA

More quality in:•Traffic

(on-net)•Clients•Organization

• Brand Re-shaping

• Recovery Customer Base

• Improve in Margin despite of Revenues decrease

Net Service Revenues

Commercial Expenses

(Fixed and Variable)

Network

1.97 2.10

Sep´-08 YTD Sep´-09 YTD

9





Intelig Deal Update


10


Handset Revenue

SAC / ARPU

Innovative Commercial Approach

Segmented Offers Chip only (for all post-paid plans) Unique and distinctive

• Complete portfolio of plans with

segmented approach

• New Plans based on Community

concept (more than 40 million

clients nationwide)

• Community Free National

Roaming

• Exclusivity in devices (e.g.: Windows

Phone)

• Outsourcing of VAS platforms

multiplatform applications store:

music, games, adult (ex: Qualcomm)

• Presence of TIM in applications

store of main suppliers (e.g.:

“Brasileirão 2009” in Apple Store)

Subscriber Base and UsageMicrobrowsing

Infinity Pre Infinity Post Liberty

• Win-Win-Win:

- TIM: SAC/Bad Debt reduction,

competitive differentiation in

service vs. handset

- Sales: one more option for sales

- Client: flexibility

. Handset Benefit or

. Service Benefit

PlansPlans Business ModelBusiness Model Handsets and VASHandsets and VAS

11


Unlimited communication (local and on-net LD)

Community of more than 40 million users

Minutes bundle and SMS to other carriers

Free national Roaming unlimited

TIM Liberty

Single bill and unlimited calls for on-net

Free unlimited calls among Family members

Bundle with TIM Fixo – Free ‘to home’ calls

Infinity Family

Infinity Benefit (pay per call concept for on-net)

Expenses control (no surprises at the end of the

month).

Infinity Controle

Highlights on Post-paid plans

SuperHigh

Pre

Controle

Low

Mid

High

Da Vinci

All-inclusive Offer (unlimited calls for all directions)

Customized Customer Care (premium channel)

Exclusive handset offer with 1 free device per year

12


Increasing LD market share of traffic

(+ 10pp)

~60% of Gross Adds are new Business clients

>11 million clients

Infinity Pós

+40% Post-paid Gross Adds (Voice) Consumer 3Q YoY

9070

1Q09 3Q09

MOU

Leveraging onTIM Community

~40 million clients(Local and DDD)

1Q09 3Q09

% MOU on-net

+8 pp

+30%

Infinity Pré

TIM Único

Mundo Azul

Competitive advantage of

TIM’s offer

New Offers: Fast market reaction

13





Intelig Deal Update


14


Company's repositioning: leveraging growth and usage

Mln Lines

Dec-08 Sep-09 Jan-08 Mar-09 Sep-09Dec-08

Mln Lines

+3.4

Jan-08 Mar-09

+0.1-0.6End of post-

paid base erosion, after

15 months

29.9

33.3

29.8

25.2 6.26.3

6.8

Min/month, R$/month, 2009

MOU

ARPU reported

ARPU adjusted*

26.0 26.0

26.226.8 26.5

70 73

90

26.6

1Q 2Q 3Q

Infinity supporting

pre-paid growth

*adjusted by fines revenue reclassification

Pre-paid base growth Post-paid base growth

MOU and ARPU Evolution

New offers leveraging usage and

on-net focus

15


R$ Million % Margin

Improving Revenues and EBITDA

R$ Mln

403 483 496Gross VAS Rev.

9.5% 12.3% 12.0%% VAS/ Service Rev.

ΔY/Y ΔQ/Q

ΔY/Y ΔQ/Q

3,0832,9363,115 2,823

3Q08 1Q09 2Q09 3Q09

430

11.2%

//HandsetRevenues

Total NetRevenues

292 189 368 254

3,407 3,012 3,304 3,337

ServiceRevenues

-2.0%

-1.0%

-13.0%

+1.0%

+5.0%

-30.9%

+23.0% +2.5%

+2.5pp -0.3pp

EBITDA and Margin

1Q09 2Q09 3Q09

20.2%22.3% 22.7%

609736 759

EBITDA Margin

EBITDA

17,9% 20,0% 23,4%2008EBITDA %

1,968 2,104

20.5%21.8%

9M’099M’08

Less Commercial Efforts 2H08

Revenues

16


R$ Mln…with consistent savings through Efficiency Plan

1Q 2Q 3Q1Q 2Q 3Q

Bad Debt Personnel and G&A CostsInterconnection & Network

R$ MlnR$ Mln

1Q 2Q 3Q

R$ Mln

1Q 2Q 3Q

Strengthening commercial efforts to re-launch the brand…

Efficiency Plan: financing our growth

+22.1%+24.6%+18.6%

-30.5%-47.9%-50.5%-10.5%-14.1%-5.7% -3.3%-9.0%-8.7%

YoY%

YoY% YoY% YoY%

985 921 964

1,045 1,073 1,077

134106 100

272203

143

261 252 246

286 277 254YTD: -10%

YTD: -45%YTD: -7%

709829 873

598 666 715

YTD: +22%

20092008

4.6%*

3.2%*3.6%*4.8%*

* % Net Service Revenue

Selling Expenses

17


EBITDA 3Q YoY Evolution

22.7%23.4%Margin %

1 - Outgoing + VAS + LD +Others – Interconnection & Network Costs2 - Other Expenses include: G&A, Personnel and Net Other Operating Expenses/Revenues

R$ Mln

798.5

192.5 (111.2)

4.843.7

(11.2)

758.8

Bad Debt OtherExpenses2

HandsetContribution

BusinessReceived

(Incoming)

BusinessGenerated(Out+VAS)1

3Q08 3Q09

Service Contribution

(158.3)

Advertising & Sales

R$ 80 Mln (+4% YoY)

+19% YoY

-11% YoY

Larger on-net Community

Chip-only approach

Higher commercial

push vs. 2H08

18


EBITDA 3Q09

Depreciation & Amortization EBIT Net Financial

ExpensesTaxes and

OthersNet

Result

Net Result: Back to ProfitR$ Mln

3Q08 (618.0) 180.5 (152.9) (39.6)

758.8(663.7)

95.1 (61.9) 27.660.8

798.5 (12.1)

-5.0% +7.4% -59.5% N/A N/AYoY % -47.3%

1Q09 2Q09 3Q09

61

(15)(144)

•Lower Interest Rates•3G NPV Impact•Tax Benefit (REFIS)

•Tax Reversion Provisioning•Tax Benefit (REFIS)

19


Gross DebtR$ 3.50 billion (of which 60% long term)~33% of total debt is denominated in foreign currency (fully hedged)

Average annual cost 9.74% in 3Q09 vs.12.54% in 3Q08 (and 10.95% in 2Q09)

Operating Free Cash Flow & Net Financial Position – 3Q09

R$ Million

Net Financial PositionR$ Million

Operating Free Cash Flow

Operating FCF

R$ Million

EBITDA ΔWork. Cap.

CAPEX Operating FCF

3Q092Q09 NonOp. FCF

(2,900)

(35)392

(2,544)

759

169

(536)

392

12% 12%

2Q09 3Q09

Capex / Sales

13%16%

2Q09 3Q09OpFCF /

Sales

R$ 356 Mln of debt reduction

20





Intelig Deal Update


21


Intelig Deal Update (1/3)

AprApr MayMay JunJun JulJul AugAug SeptSept OctOct NovNov DecDec

(Aug 8th) Anatel’s approval(Aug 8(Aug 8thth) ) AnatelAnatel’’ss approvalapproval

(Nov 27th) BoD Meeting - new conditions to the Merger Agreement

(Nov 27(Nov 27thth) ) BoDBoD Meeting Meeting -- new conditions to new conditions to the Merger Agreementthe Merger Agreement

(Apr 16th) BoD Meeting - signing of the Merger Agreement

(Apr 16(Apr 16thth) ) BoDBoD Meeting Meeting -- signing of signing of the Merger Agreementthe Merger Agreement

Deal to be concluded until the year-end

Deal to be concluded Deal to be concluded until the yearuntil the year--endend

Deal Time-frameDeal Time-frame

New Conditions to the Merger Agreement1New Conditions to the Merger Agreement1

1

3

2

Transaction value remained the same as of April 16th

New payment conditions:

Assumption of residual debt from Intelig of ~US$ 70 million2

(previously zero debt from Intelig)

Reduction of share swap range, now up to 5.14% for TIM shares

(previously up to 6.15%)Deal expected to be concluded by the end of 2009

1 according to material fact notice2 final value amount to be concluded following the Valuation report analysis – by the closing balance sheet of November 30th

22


Original Deal (April 16th) Deal Update (November 27th)

TIM Brasil Serv. e Part. S.A.

T : 65.56%ON: 76.32%PN: 60.01%

100%

100% 100%

TIM Cel. S.A.

TIM Nord. S.A.

JVCO Free Float

T : 6.15%ON: 6.15%PN: 6.15%

T : 28.29%ON: 17.53%PN: 33.84%

TIM Brasil Serv. e Part. S.A.

T : 66.27%ON: 77.14%PN: 60.65%

100%

100% 100%

TIM Cel. S.A.

TIM Nord. S.A.

JVCO

T : 5.14%ON: 5.14%PN: 5.14%

T : 28.59%ON: 17.72%PN: 34.21%


Free Float

Ownership StructureOwnership Structure

23


Network Footprint

Central

Rede em Fibra Óptica

Estação satelital terrestre Central ATM/IP

Cabo submarino

MANPOP

Central

Rede em Fibra Óptica

Estação satelital terrestre Central ATM/IP

Cabo submarino

MANPOP

Rio Branco

Manaus

Goiás

Campo Grande

Florianópolis

São Paulo

Belo HorizonteVitória

Goiânia

MacapáBoa Vista

Porto Velho

Salvador

Uruguaiana

Joinville

Rib. PretoCampinas

JuizFora

Atlantis 2(Argentina)

Atlantis 2 (Europa)

Globnet (New York e Miami)Américas II (Florida)

Curitiba

Aracaju

Maceió

Recife

Fortaleza

Belém

Uberlândia

BrasíliaDF

JundiaíRio de Janeiro

PortoAlegre

Barueri

Rio Branco

Manaus

Goiás

Campo Grande

Florianópolis

São Paulo

Belo HorizonteVitória

Goiânia

MacapáBoa Vista

Porto Velho

Salvador

Uruguaiana

Joinville

Rib. PretoCampinas

JuizFora

Atlantis 2(Argentina)

Atlantis 2 (Europa)

Globnet (New York e Miami)Américas II (Florida)

Curitiba

Aracaju

Maceió

Recife

Fortaleza

Belém

Uberlândia

BrasíliaDF

JundiaíRio de Janeiro

PortoAlegre

Barueri

% of net revenue

Brief Description

Established in 1999 during the privatization process, being an alternative player (“mirror company”) to compete with incumbent operators

~ 500 employees

Since Jan/08, owned by Docas Investimento(Brazilian Media and Publishing Group)

National and international LD (Code 23)

Voice, data and images transmission nationwide. In 2003, launched a local fixed telecommunication service

Backbone: 14.500 km of fiber optic cables

Fiber optic cables length: ~500.000 km

Metropolitan Network: 18 capitals

Network Asset

Corporate – 100k clients

- LD (national and international)- Data solution for business segment

Wholesale - Data transmission (leased lines)

Retail - Local service (~260k lines)

- ISP (Internet service provider)- LD (national and international)

Business line

~50%

~35%

~15%


24





Intelig Deal Update


25


TIM Part. Total Control Free Float

Common 799,924,805 650,537,118 149,387,687

Preferred 1,548,522,231 990,098,811 558,423,420

Total 2,348,447,036 1,640,635,929 707,811,107

34%

66%

40%

60%

21%

79%

100% 100%

(%) (%) (%)

100%

*Nov, 2009

*All Market Panel data refer to Nov 26th, 2009.*All Market Panel data refer to Nov 26th, 2009.

TIM ParticipaçõesTIM Participações

TIM CelularTIM Celular

TIM NordesteTIM Nordeste

100%

TIM Brasil

100%

ON: 81%PN: 64%Total: 70%

100%

Telecom Italia

Stock Exchange: : BOVESPA

Ticker Symbol: TCSL4 (Preferred)

Price: R$ 4,55

52 Week Price Range:

High – R$ 4.99

Low – R$ 2.64


Ticker Symbol: TCSL4 (Preferred)

Price: R$ 4,55


High – R$ 4.99

Low – R$ 2.64


Ticker Symbol: TCSL3 (Common)

Price: R$ 6,05


High – R$ 7.95

Low – R$ 4.91


Ticker Symbol: TCSL3 (Common)

Price: R$ 6,05


High – R$ 7.95

Low – R$ 4.91

Market Panel*Market Panel*Market Panel*

Stock Exchange: : NYSE

Ticker Symbol: TSU (ADR)

Price: US$ 26,64


High – US$ 29.04

Low – US$ 11.99

Stock Exchange: : NYSE

Ticker Symbol: TSU (ADR)

Price: US$ 26,64


High – US$ 29.04

Low – US$ 11.99

Market Capitalization: R$ 11.89 BillionMarket Capitalization: R$ 11.89 Billion Market Capitalization: US$ 6,80 BillionMarket Capitalization: US$ 6,80 Billion

TCLS4 TCSL3 IBOV

Market Facts

Shareholders StructureStock Performance

Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09

(40)

(20)

-

20

40

60

80

100

26


Historical indicators: operational results

QoQ YoY% %

3Q09 2Q09 3Q08

Brazilian Wireless Subscriber Base (million) 166.1 159.6 140.8 4.1% 18.0%Estimated Total Penetration 86.7% 83.5% 73.3% 3.2 p.p. 13.4 p.p.Municipalities Served - TIM GSM 2,958 2,944 2,765 0.5% 7.0%

Market Share 23.8% 23.7% 25.0% 0.1 p.p. -1.2 p.p.Total Lines ('000) 39,600 37,826 35,206 4.7% 12.5%

Prepaid 33,297 31,610 28,386 5.3% 17.3%Postpaid 6,303 6,216 6,820 1.4% -7.6%

Gross Additions ('000) 5,930 4,855 4,573 22.1% 29.7%Net Additions ('000) 1,774 1,729 1,392 2.6% 27.5%Churn 10.9% 8.6% 9.4% 2.3 p.p 1.5 p.pARPU (R$) 26.5 26.6 30.1 -0.2% -12.0%MOU 90 73 101 23.2% -10.7%ARPM (R$) 0.29 0.36 0.30 -19.0% -1.5%SAC (R$) 113 120 110 -6.2% 2.1%Investment (R$ million) 535.9 422.5 510.7 26.8% 4.9%Employees 9,351 10,174 10,173 -8.1% -8.1%

Numbers are according to previously published earnings release, and therefore, may differ from the subsequent publishing due to rounding and re-classification.

27


Thousands R$

Numbers are according to previously published earnings release, and therefore, may differ from the subsequent publishing due to rounding and re-classification.

3Q08 2Q09 3Q09 QoQ % YoY %

Net Revenues 3.406.923 3.304.252 3.337.481 1,0% -2,0%Services 3.114.872 2.936.240 3.083.348 5,0% -1,0%

Handset Revenue 292.051 368.012 254.133 -30,9% -13,0%

Operating Expenses (2.608.467) (2.568.235) (2.578.700) 0,4% -1,1%Personal Expenses (152.654) (138.181) (144.695) 4,7% -5,2%

Selling and Marketing Expenses (715.019) (829.036) (873.341) 5,3% 22,1%

Network & Interconnection (1.077.171) (920.902) (964.315) 4,7% -10,5%

General & Administrative (101.496) (113.542) (100.954) -11,1% -0,5%

Cost of Goods Sold (378.072) (466.727) (335.308) -28,2% -11,3%

Bad Debt (143.250) (105.949) (99.552) -6,0% -30,5%

Other operational revenues (expenses) (40.804) 6.102 (60.534) - 48,4%

EBITDA 798.456 736.016 758.781 3,1% -5,0%

EBITDA - Margin over total net revenues 23,4% 22,3% 22,7% 0,5 p.p. -0,7 p.p.

Depreciation & Amortization (617.988) (647.451) (663.684) 2,5% 7,4%

EBIT 180.468 88.565 95.097 7,4% -47,3%

Net Financial Results (152.943) (65.857) (61.865) -6,1% -59,5%

Income (loss) before taxes and Minorities 27.526 22.708 33.232 46,3% 20,7%

Income tax and social contribution (39.579) (37.956) 27.579 - -

Net Income (Loss) (12.053) (15.247) 60.811 - -

Historical indicators: financial results

28


Statements in this presentation, as well as oral statements made by the management of TIM Participações S.A. (the “Company”, or “TIM”), that are not historical fact constitute “forward looking statements” that involve factors that could cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward looking statements. The Company cautions users of this presentation not to place undue reliance on forward looking statements, which may be based on assumptions and anticipated events that do not materialize.

Statements in this presentation, as well as oral statements made by the management of TIM Participações S.A. (the “Company”, or “TIM”), that are not historical fact constitute “forward looking statements” that involve factors that could cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward looking statements. The Company cautions users of this presentation not to place undue reliance on forward looking statements, which may be based on assumptions and anticipated events that do not materialize.

Investor Relations

Avenida das Américas, 3434 - Bloco 016° andar – Barra da Tijuca22640-102 Rio de Janeiro, RJPhone: +55 21 4009-3742 / 4009-3446 / 4009-4017Fax: +55 21 4009-3990

Investor Relations

Avenida das Américas, 3434 - Bloco 016° andar – Barra da Tijuca22640-102 Rio de Janeiro, RJPhone: +55 21 4009-3742 / 4009-3446 / 4009-4017Fax: +55 21 4009-3990

Visit our Website

http://www.tim.com.br/ir

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Tim Presentation Ubs Conference Presentation Dec09

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