For purposes of adequate comparison, we present below the pro forma statement of operations as if the merger discussed in Note 2.b had occurred on January 1, 2008. The pro forma financial statements were prepared on a combined basis, considering the balances of TIM Participações, its direct and indirect subsidiaries and Intelig, and eliminating intercompany balances where applicable.

This information is being presented only to allow further analyses deriving from the comparison of balances and transactions. This information does not intend to represent what could have occurred if the companies were under common control nor does it intend to represent the financial statements of a separate legal entity or be indicative of results that could be attained in the future.

	Unaudited combined pro forma figures
	2009	2008
Gross operating revenue
Telecommunication services	17,319,812	17,384,648
Sale of goods	1,761,626	1,766,400
	19,081,438	19,151,048
Deductions from gross revenues	(5,376,619)	(5,485,641)
Net operating revenue	13,704,819	13,665,407
Cost of services rendered	(5,876,666)	(6,045,885)
Cost of goods sold	(1,329,826)	(1,405,788)
Gross profit	6,498,327	6,213,734
Operating income (expenses):
Selling expenses	(4,510,210)	(4,160,841)
General and administrative expenses	(1,159,475)	(1,213,734)
Amortization of concession	(337,876)	(309,091)
Other operating income (expenses), net	(38,426)	282,315
	(6,045,987)	(5,401,351)
Operating income before financial income (expenses)	452,340	812,383
Financial income (expenses):
Financial income	144,876	181,662
Financial expenses	(402,173)	(542,848)
Foreign exchange gains or losses, net	510,629	(628,622)
	253,332	(989,808)
Operating profit	705,672	(177,425)
Provision for income and social contribution taxes	(5,516)	64,254
Net income (loss) for the year	700,156	(113,171)

The Company’s net income “pro forma” is mainly affected by the exchange variation of the acquired Company HOLDCO/Intelig (Note 2b).