Portugal Telecom, SGPS S.A. announced that its Board of Directors has approved to appoint by co-optation, as members of the Board of Directors, to complete the current term of office (2012-2014), Marco Norci Schroeder and Eurico de Jesus Teles Neto, to replace Ot vio Marques de Azevedo and Fernando Magalh es Portella, both of whom had submitted their resignation. Such co-optation will be submitted to ratification at the next General Meeting of Shareholders of the company.