| CLIENTTIM      CELULAR S.A.                                | Corporate      Taxpayer RegisterCNPJ/MF04.206.050/0001-80 |
|-----------------------------------------------------------------|-----------------------------------------------------------|
| Address:Av.      Giovanni Gronchi No. 7143 – Vila Andrade | E-mail:                                                   |
| City/StateSão      Paulo – SP                        | CEP05724-005                                              |
| Branch:2271                                                     | Current      Account No.130.002.084                       |
| LOAN                                                            |

| Facility      ValueJPY      3.130.290.253.00 | Deadline      for Contracting the Transactions12/20/2007                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|----------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Date      of Issue12/06/2007                 | Deadline                                    Due      Date194      days                                    06/17/2008 |

| FINANCIAL      CHARGES(   )      Interest at the fixed rate of __% annum, equivalent to __%month,      calculated as simple interest, considering a year of 360 consecutive days      or,(X)      Determined at each disbursement by the Spreadsheet (Attachment      I)                                                                                                 |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| TARIFFS      AND RATESTAC      – Facility Rate, in the value of without effect, to be paid as follows:      without effect                                                                                                                                                                                                                                                        |
| RELEASE      OF FUNDSDate:      As described in Attachment I – Disbursement SpreadsheetForm      of payment direct to service provider or to seller of assets by credit in      their current account of deposit, or by another instrument of payment,      according to the option performed in the Disbursement Spreadsheet in item      “Form of Release of funds” |
| PAYMENT      FLOWPrincipal:      As described in Attachment – Disbursement Spreadsheet Financial      Charges: As described in Attachment I – Disbursement      Spreadsheet                                                                                                                                                                                            |
| FORM      OF LIQUIDATION[X] Debit in the current      account held by CLIENT[   ]      DOC/TED in favor of[   ]      Others:                                                                                                                                                                                                                              |
| GUARANTEESwithout      effect                                                                                                                                                                                                                                                                                                                                                           |
| INTERVENING      PARTIES GUARANTOR(S)                                                                                                                                                                                                                                                                                                                                                   |
| Corporate      Name/Namewithout      effect                                                                                                                                                                                                                                                                                                                                             | Address: | City/State | CNPJ/MF      or CPF/MF |

----

----

----

----

----

----

| [signature]                                                                                 TIM      CELULAR S.A.  | IN      AGREEMENT[signature]BANCO SANTANDER      S.A.                                                                              |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                               |
| INTERVENING GUARANTOR(S) (by      surety):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Those identified below attend      hereby asConsenting Intervener(s), pursuant tothe terms of Article 1647 of      the Civil Code. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                               |
| ______________________________without      effect                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | ______________________________without      effect                                                                                  |

----

| CLIENTTIM      CELULAR S.A. | CNPJ/MF04.206.050/0001-80 |
|-----------------------------|---------------------------|

| CLIENT      Data |
|------------------|

| AddressAv.      Giovanni Gronchi No 7143 | Neighborhood:Vila      Andrade | City/State:São      Paulo |
|------------------------------------------|--------------------------------|--------------------------------|

| Current Account No.      130.002.084                      | Branch2271                                                   | Date      of Note12.06.2007                                                                                             | Date      of this spreadsheet  | No.      of this Spreadsheet |
|-----------------------------------------------------------|--------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|-------------------------------------|------------------------------|
| CHARACTERISTICS      OF TRANSACTION                       |
| VALUE                                                     | TERM                                                         |
| YEN                                                       | BRL                                                          | Start      Date                                                                                                    | Due      Date                       |
| Arrears      Interest                                     | Form of remittance of payment      instructions:             |
| Remuneration      Interest Rate___%      p.m. _____% p.a. |                                                         | (_)      manual instructions (fill in Part 2 below)(_)      instructions by electronic file (not fill in Part 2  below) |
| PAYMENTS      FLOW                                        |
| I.      Date(s) of payment of the interest installment(s) | II.      Date(s) of payment of the Principal installment(s): |
| 1.2.3.                                                    | 1.2.3.                                                       |

| Commercial      Purchases Data | Form      of Release of Supplier’s Credit |
|--------------------------------|-------------------------------------------------|
| Supplier                       | CNPJ/CPF                                        | NFF(Serial      No.) | Value      (BRL) | TED/DOCCollectionSlip | Bank | Branch | Current      Account |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |

----

| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|  _______________________________ Name:                                                                          ID      Card No.CPF      No.                                                                                                                                                                                                                                                                                                           |  _______________________________ Name:                                                                          ID      Card No.CPF      No. |

----

| CLIENTTIM      CELULAR S.A. | CNPJ/MF04.206.050/0001-80 |
|-----------------------------|---------------------------|

| CLIENT      Data |
|------------------|

| AddressAv.      Giovanni Gronchi No 7143 | Neighborhood:Vila      Andrade | City/State:São      Paulo |
|------------------------------------------|--------------------------------|--------------------------------|

| Current Account No.      130.002.084                      | Branch2271                                                   | Date      of Note<Contract      date>                                                                             | Date      of this spreadsheet12/06/2007 | No.      of this Spreadsheet |
|-----------------------------------------------------------|--------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|------------------------------|
| CHARACTERISTICS      OF TRANSACTION                       |
| VALUE                                                     | TERM                                                         |
| YEN1,323,247,805.72                                       | BRL21,522,625.56                                             | Start      Date12/06//2007                                                                                              | Due      Date06/03/2008                 |
| Arrears      Interest                                     | Form of remittance of payment      instructions:             |
| Remuneration      Interest Rate0.08333      %p.m. 1%p.a.  |                                                         | (_)      manual instructions (fill in Part 2 below)(X)      instructions by electronic file (not fill in Part 2  below) |
| PAYMENTS      FLOW                                        |
| I.      Date(s) of payment of the interest installment(s) | II.      Date(s) of payment of the Principal installment(s): |
| 06/03/2008                                                | 06/03/2008                                                   |

| Commercial      Purchases Data | Form      of Release of Supplier’s Credit |
|--------------------------------|-------------------------------------------------|
| Supplier                       | CNPJ/CPF                                        | NFF(Serial      No.) | Value      (BRL) | TED/DOCCollectionSlip | Bank | Branch | Current      Account |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Manoel      Maria CardosoTreasury                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]Luiz      Alberto dos SantosTIM      – Finances and Treasury                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| _______________________________ Name:                                                                          ID      Card No.CPF      No.                                                                                                                                                                                                                                                                                                                 | _______________________________ Name:                                                                          ID      Card No.CPF      No. |

----

| Institution:BANCO      SANTANDERR      AMADOR BUENO 47404752901      SÃO PAULO – SP090.400.888/0001-42               |
|---------------------------------------------------------------------------------------------------------------------------------|
| ClientTIM      CELULAR SAAV      GIOVANNI GRONCHI, 7143 – VILA ANDRADE05724-005      SÃO PAULO-SP004.206.050/0001-80 |
| Contract      Specifications                                                                                                    |
| Contract      No.121127                                                                                                         | Type:CDI      xJPYBRL | Start Date:12/06/2007 | Due Date:06/03/2008 | Term:180 | Principal:21,522,625.56 | Currency:BRL |
| Contract      Rules                                                                                                             |
|  Asset-      Institution:Asset-Client:                                                                                     | Indexer:CDIJPYBRL |   | Value of      Indexer:0.000000000.01626500 | Indexer      %:104.50100.00 | Rate %      (p.a.):0.00001.0000 |   |
| Observations:Form      of Financial Liquidation:Place of Custody:      CETIPRegistration      No.:                              |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                             |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|
| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Manoel      Maria CardosoTreasury                                                                       |
| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | _______________________________ Luiz      Alberto dos SantosTIM      – Finances and Treasury |

----

| CLIENTTIM      CELULAR S.A. | CNPJ/MF04.206.050/0001-80 |
|-----------------------------|---------------------------|

| CLIENT      Data |
|------------------|

| AddressAv.      Giovanni Gronchi No 7143 | Neighborhood:Vila      Andrade | City/State:São      Paulo |
|------------------------------------------|--------------------------------|--------------------------------|

| Current Account No.      130.002.084                      | Branch2271                                                   | Date      of Note<Contract      date>                                                                             | Date      of this spreadsheet12/13/2007 | No.      of this Spreadsheet06/10/2008 |
|-----------------------------------------------------------|--------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|----------------------------------------|
| CHARACTERISTICS      OF TRANSACTION                       |
| VALUE                                                     | TERM                                                         |
| YEN1,591,652.053                                          | BRL25,023,953.57                                             | Start      Date12/13//2007                                                                                              | Due      Date06/10/2008                 |
| Arrears      Interest                                     | Form of remittance of payment      instructions:             |
| Remuneration      Interest Rate0.08333      %p.m. 1%p.a.  |                                                         | (_)      manual instructions (fill in Part 2 below)(X)      instructions by electronic file (not fill in Part 2  below) |
| PAYMENTS      FLOW                                        |
| I.      Date(s) of payment of the interest installment(s) | II.      Date(s) of payment of the Principal installment(s): |
| 06/10/2008                                                | 06/10/2008                                                   |

| Commercial      Purchases Data | Form      of Release of Supplier’s Credit |
|--------------------------------|-------------------------------------------------|
| Supplier                       | CNPJ/CPF                                        | NFF(Serial      No.) | Value      (BRL) | TED/DOCCollectionSlip | Bank | Branch | Current      Account |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Manoel      Maria CardosoTreasury                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]Manuela      CarraFinance      Manager                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| _______________________________ Name:                                                                          ID      Card No.CPF      No.                                                                                                                                                                                                                                                                                                                 | _______________________________ Name:                                                                          ID      Card No.CPF      No. |

----

| Institution:BANCO      SANTANDERR      AMADOR BUENO 47404752901      SÃO PAULO –      SP                                                                                                   090.400.888/0001-42                           |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ClientTIM      CELULAR SAAV      GIOVANNI GRONCHI, 7143 – VILA ANDRADE05724-005      SÃO      PAULO-SP                                                                                                     004.206.050/0001-80 |
| Contract      Specifications                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Contract      No.1211518                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Type:CDI      xJPYBRL | Start Date:12/13/2007 | Due Date:06/10/2008 | Term:180 | Principal:25,023,953.57 | Currency:BRL |
| Contract      Rules                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|  Asset-      Institution:Asset-Client:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Indexer:CDIJPYBRL |   | Value of      Indexer:0.000000000.015722 | Indexer      %:104.50100.00 | Rate %      (p.a.):0.00001.0000 |   |
| Observations:Form      of Financial Liquidation:Place of Custody:      CETIPRegistration      No.:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                 |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------|
| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Manuela      CarraFinance      Manager                                      |
| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | _______________________________ Manuela      CarraFinance      Manager |

----

| CLIENTTIM      CELULAR S.A. | CNPJ/MF04.206.050/0001-80 |
|-----------------------------|---------------------------|

| CLIENT      Data |
|------------------|

| AddressAv.      Giovanni Gronchi No 7143 | Neighborhood:Vila      Andrade | City/State:São      Paulo |
|------------------------------------------|--------------------------------|--------------------------------|

| Current Account No.      130.002.084                      | Branch2271                                                   | Date      of Note<Contract      date>                                                                             | Date      of this spreadsheet12/14/2007 | No.      of this Spreadsheet |
|-----------------------------------------------------------|--------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|------------------------------|
| CHARACTERISTICS      OF TRANSACTION                       |
| VALUE                                                     | TERM                                                         |
| YEN114,990,616.07                                         | BRL1,819,841.49                                              | Start      Date12/14//2007                                                                                              | Due      Date06/11/2008                 |
| Arrears      Interest                                     | Form of remittance of payment      instructions:             |
| Remuneration      Interest Rate0.08333      %p.m. 1%p.a.  |                                                         | (_)      manual instructions (fill in Part 2 below)(X)      instructions by electronic file (not fill in Part 2  below) |
| PAYMENTS      FLOW                                        |
| I.      Date(s) of payment of the interest installment(s) | II.      Date(s) of payment of the Principal installment(s): |
| 06/11/2008                                                | 06/11/2008                                                   |

| Commercial      Purchases Data | Form      of Release of Supplier’s Credit |
|--------------------------------|-------------------------------------------------|
| Supplier                       | CNPJ/CPF                                        | NFF(Serial      No.) | Value      (BRL) | TED/DOCCollectionSlip | Bank | Branch | Current      Account |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Manuela      CarraFinance      Manager                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]Luiz      Alberto dos SantosTIM      – Finances and Treasury                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| _______________________________ Name:                                                                          ID      Card No.CPF      No.                                                                                                                                                                                                                                                                                                                 | _______________________________ Name:                                                                          ID      Card No.CPF      No. |

----

| Institution:BANCO      SANTANDERR      AMADOR BUENO 47404752901      SÃO PAULO – SP090.400.888/0001-42               |
|---------------------------------------------------------------------------------------------------------------------------------|
| ClientTIM      CELULAR SAAV      GIOVANNI GRONCHI, 7143 – VILA ANDRADE05724-005      SÃO PAULO-SP004.206.050/0001-80 |
| Contract      Specifications                                                                                                    |
| Contract      No.1211519                                                                                                        | Type:CDI      xJPYBRL | Start Date:12/14/2007 | Due Date:06/11/2008 | Term:180 | Principal:1,819,841.49 | Currency:BRL |
| Contract      Rules                                                                                                             |
|  Asset-      Institution:Asset-Client:                                                                                     | Indexer:CDIJPYBRL |   | Value of      Indexer:0.000000000.01582600 | Indexer      %:104.50100.00 | Rate %      (p.a.):0.00001.0000 |   |
| Observations:Form      of Financial Liquidation:Place of Custody:      CETIPRegistration      No.: 07L04859                     |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                             |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|
| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Manuela      CarraFinance      Manager                                                                  |
| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | _______________________________ Luiz      Alberto dos SantosTIM      – Finances and Treasury |

----

| CLIENTTIM      CELULAR S.A. | CNPJ/MF04.206.050/0001-80 |
|-----------------------------|---------------------------|

| CLIENT      Data |
|------------------|

| AddressAv.      Giovanni Gronchi No 7143 | Neighborhood:Vila      Andrade | City/State:São      Paulo |
|------------------------------------------|--------------------------------|--------------------------------|

| Current Account No.      130.002.084                      | Branch2271                                                   | Date      of Note<Contract      date>                                                                             | Date      of this spreadsheet12/17/2007 | No.      of this Spreadsheet  |
|-----------------------------------------------------------|--------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|------------------------------------|
| CHARACTERISTICS      OF TRANSACTION                       |
| VALUE                                                     | TERM                                                         |
| YEN100,399,777.75                                         | BRL1,590,131.68                                              | Start      Date12/17//2007                                                                                              | Due      Date06/16/2008                 |
| Arrears      Interest                                     | Form of remittance of payment      instructions:             |
| Remuneration      Interest Rate0.08333      %p.m. 1%p.a.  |                                                         | (_)      manual instructions (fill in Part 2 below)(X)      instructions by electronic file (not fill in Part 2  below) |
| PAYMENTS      FLOW                                        |
| I.      Date(s) of payment of the interest installment(s) | II.      Date(s) of payment of the Principal installment(s): |
| 06/16/2008                                                | 06/16/2008                                                   |

| Commercial      Purchases Data | Form      of Release of Supplier’s Credit |
|--------------------------------|-------------------------------------------------|
| Supplier                       | CNPJ/CPF                                        | NFF(Serial      No.) | Value      (BRL) | TED/DOCCollectionSlip | Bank | Branch | Current      Account |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |
|                           |                                            |   |   |   |   |   |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                       |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------|
| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Manuela      CarraFinance      Manager            |

----

| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]Luiz      Alberto dos SantosTIM      – Finances and Treasury                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| _______________________________ Name:                                                                          ID      Card No.CPF      No. | _______________________________ Name:                                                                          ID      Card No.CPF      No. |

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| Institution:BANCO      SANTANDERR      AMADOR BUENO 47404752901      SÃO PAULO – SP090.400.888/0001-42               |
|---------------------------------------------------------------------------------------------------------------------------------|
| ClientTIM      CELULAR SAAV      GIOVANNI GRONCHI, 7143 – VILA ANDRADE05724-005      SÃO PAULO-SP004.206.050/0001-80 |
| Contract      Specifications                                                                                                    |
| Contract      No.1211659                                                                                                        | Type:CDI      xJPYBRL | Start Date:12/17/2007 | Due Date:06/16/2008 | Term:182 | Principal:1,590,131.68 | Currency:BRL |
| Contract      Rules                                                                                                             |
|  Asset-      Institution:Asset-Client:                                                                                     | Indexer:CDIJPYBRL |   | Value of      Indexer:0.000000000.01583800 | Indexer      %:104.50100.00 | Rate %      (p.a.):0.00001.0000 |   |
| Observations:Form      of Financial Liquidation:Place of Custody:      CETIPRegistration      No.:                              |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                             |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|
| ______________________________                                                                BANCO      SANTANDER                                                                 | _________________________________TIM      CELULAR                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | Manuela      CarraFinance      Manager                                                                  |
| Witnesses:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | [signature]                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | _______________________________ Luiz      Alberto dos SantosTIM      – Finances and Treasury |