2nd Amendment to the Shareholders Agreement consolidated on August 27, 2002

By this 2ndAmendment to the Shareholders Agreement consolidated on August 27, 2002 (this Amendment) entered into on 28 of
April 2005, in the City and State of Rio de Janeiro, by and between,

|I.   | TECHOLD PARTICIPAÇÕES S.A., a company duly organized and existing in accordance with the laws of Brazil, with its registered office at Av. Presidente Wilson, 231,
28o andar (parte), Rio de Janeiro, Brazil, CNPJ/MF no. 02.605.028/0001-88, herein represented by its legal representatives, hereinafter referred to as TECHOLD;     
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    
|II.  | TIMEPART PARTICIPACÕES LTDA., a company duly organized and existing in accordance with the laws of Brazil, with its registered office at SAU/SUL, Quadra 03, Bloco C, no. 22,
sala 1319, Brasília, DF, Brazil, CNPJ/MFno. 02.338.536/0001-47, herein represented by its legal representatives, hereinafter referred to as the TIMEPART;
|    
|III. | TELECOM ITALIA INTERNATIONAL N.V., a company duly organized and existing under the laws of The Netherlands, with its registered office at Strawinskylaan1627- 1077 XX Amsterdam, the Netherlands, herein represented by its legal representative, hereinafter referred to as the TII;                                                  
|    
|     | and, as INTERVENING PARTY,                                                                                                                                                                                                                                                                                                               
|    
|IV.  | SOLPART PARTICIPAÇÕES S.A., a company duly organized and existing in accordance with the laws, with its registered office at Av. Presidente Wilson no. 231, 28o
andar (parte),CNPJ/MF no. no. 02.607.736/0001-58, , herein represented by its legal representatives, hereinafter referred to as the COMPANY;                           
|    

WHEREAS the parties and the INTERVENING PARTY, among others, entered, on July 19, 1998, into an Amended and Restated Shareholders Agreement (the 1998 Agreement) to govern their relationships in the
COMPANY, the Holding Company and the Operating Companies, as defined therein;

WHEREAS the 1998 Agreement was again amended on August 27, 2002 through the Amendment to the Amended and Restated Shareholders Agreement (the 2002 Amendment);

WHEREAS the text of the 1998 Agreement, as amended by the 2002 Amendment, was consolidated and attached as Exhibit 3.2 of the 2002 Amendment Text of the 2002 Shareholders Agreement consolidated on August
2002 (the Shareholders Agreement);

WHEREAS through the Shareholders Agreement certain rights of TII were suspended, the restoration of which was subject to certain conditions;

WHEREAS, TECHOLD and TIMEPART and TII, as well as the COMPANY, Brasil Telecom Partecipaçoes S.A. and Brasil Telecom S.A., have agreed on the full and effective restoration of the Suspended Sections, as defined in
the 2002 Amendment, as provided under clause 5.1 of the 2002 Amendment;

WHEREAS the mechanism for resolving impasses, as introduced by the 2002 Amendment, is no longer relevant;

WHEREAS the PARTIES wish to amend once more the Shareholders Agreement and adjust its wording to the current structure;

NOW, THEREFORE, the PARTIES and the INTERVENING PARTY hereby agree as follows:

1.Revocation of Items 4.8.6.2, 4.8.6.3 and 4.8.6.4. Items 4.8.6.2, 4.8.6.3 and 4.8.6.4 of the Shareholders Agreement, introduced by the 2002
Amendment, are hereby revoked. As a result, the references to such items in Clause 5.3 are deemed revoked as well.

2.Restoration of Clause 5.4. Clause 5.4 of the 1998 Agreement as in force immediately before the 2002 Amendment is hereby restored in its entirety
and shall hereafter form an integral part of the Shareholders Agreement.
 As a consequence, the Shareholders Agreement shall hereafter have a Clause 5.4, which shall read as follows:

| | 5.4.
   If TII shall veto any Supermajority  Matter that is approved by all other
 Shareholders and the continuation                   of such failure  would result in a
material  adverse  effect on the  operations  of the COMPANY and its  subsidiaries
                  taken as a whole, or the  Shareholders  are unable to reach  unanimous
 agreement for a period of twenty (20) days (a                   Deadlock),  the
following  procedures  shall be followed and each Party shall act  reasonably  and in
good faith in                   order to resolve the Deadlock:
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| | (a) | such
Deadlock matter shall be referred  promptly to the General Manager or  Vice-President,
 as the case may                            be, of each of the  Shareholders  ultimate
parent company,  who is primarily  responsible  within each such
                           parent company for the area to which the Deadlock matter
pertains;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b) | if
such General Managers and/or Vice-Presidents,  as the case may be, fail to reach
unanimous agreement with                            respect to the matter in  question,
 matter shall be referred  promptly to the  Chairman or Chief  Executive
                           Officer, as the case may be, of each of TECHOLD and TII
ultimate parent company;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c) | if,
 notwithstanding  the  procedures set forth in paragraphs (a) and (b) of this Section
5.4, the matter in                            question  cannot be resolved to the
 satisfaction of the  appropriate  Shareholders,  (i) if the Deadlock is
                           with respect to any  amendment or other  modification  to the
Business Plan or Annual  Budget,  the existing                            Business Plan
or Annual Budget shall  continue to be effective,  and (ii) if the Deadlock is with
respect to                            all  other  Supermajority  Matters,  such  Matter
 may at the  option of any  Shareholder  be  submitted  to
                           arbitration in accordance with clause (d) below;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (d) | In
the event a Deadlock occurs with respect to any Supermajority  Matters (except as set
forth in clause (c)                            above) and  continues for a period of
sixty (60) days after  commencement  of the  escalation  provisions in
                           clauses (a) and (b) above,  any  Shareholder may exercise its
right to submit the Matter to an arbitrator in                            accordance
 herewith during the next thirty (30) days by providing written notice to the other
Shareholders.                            Such Deadlock shall be solely and finally
settled by arbitration  conducted in accordance with the Rules set
                           forth by the ICC, Paris. Each of TII, on the one hand, and the
Shareholder  requesting  arbitration,  on the                            other hand,
 shall have ten (10)  calendar  days to select its  arbitrator  after receipt of a notice
by the                            Shareholder  requesting  arbitration  in  accordance
 with  the  foregoing.  Upon  such  selection,  the two
                           party-appointed  arbitrators  shall have ten (10)  calendar
 days to appoint  the  chairman  and, if the two
                           party-appointed  arbitrators do not make such appointment
 within such time, the president of ICC shall make                            such
 appointment  within ten (10) calendar  days.  The chairman  shall be a businessman or a
lawyer with at                            least ten (10) years of experience with
 international  business  transactions.  The arbitral tribunal shall
                           decide the matter and render a written  award with thirty (30)
calendar  days  thereafter.  Each Party shall                            abide by any
award  rendered by the  arbitrators  which shall be considered  final and binding by any
Party.                            All such awards may be enforced and executed  upon in
any court having  jurisdiction  over the Party against                            whom
 enforcement  of such award is sought.  All Parties  shall  cooperate in such  expedite
 procedure  and                            perform all necessary acts to ensure
 adherence to this schedule.  The seat of arbitration  shall be London,
                           and English the language.
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3. Restoration
of the Text of Chapter 6.The revocation of Chapter 6 of the 1998 Agreement by the
2002 Amendment is hereby in itself revoked. The text of Chapter 6 of the 1998
Agreement as in force immediately before the 2002 Amendment is hereby restored in
its entirety and shall hereafter form an integral part of the Shareholders Agreement.
As a consequence, Chapter 6 of the Shareholders Agreement shall hereafter read as
follows:

| | 6.
     SHARE PURCHASE OPTION/SHARE SALE OPTION
| | ------------------------------------------------

| | 6.1. In
the event TII, on the one hand,  or any of the INVITEL  Parties,  on the other
                  hand,  commits an Event of Default (as defined  below) then the
Electing  Shareholder  (as                   defined below) shall have an  irrevocable
 right,  but not an obligation,  to (i) buy from                   (Share Purchase
 Option) TII (in the case of a breach by TII) or all INVITEL Parties (in
                  the case of breach by any INVITEL  Party) or (ii) sell to (Share  Sale
 Option)  TII (in                   the case of a breach by TII) or TECHOLD  (in the
case of breach by any  INVITEL  Party) in                   accordance  with  section 6.3
below,  all and not less than all of the Shares owned by TII                   or all of
the INVITEL Parties,  as the case may be (whether directly or through its direct
                  or indirect partners/shareholders) in compliance with the following
terms and conditions.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.2 For
the purpose of this Agreement,  an Event of Default means unless consented to
                  or waived by TII or TECHOLD the following,  which,  if capable of being
cured is not cured                   within  sixty (60) days from the  request in writing
 made by TII (in the case of a breach                   by  an  INVITEL  Party)  or
 TECHOLD  (in  the  case  of a  breach  by  TII)  (hereinafter                   Non-defaulting
Shareholder or Electing Shareholder):
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (a) | a
transfer  of shares of the  COMPANY or of any  Shareholder  (including
                                    TECHOLD  and any  special  purpose  subsidiary
 incorporated  by TII for                                     purposes  of the
 acquisition  of the TII  Shares) in  violation  of the
                                    provisions of this Agreement; or
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b) | a
sale of all or  substantially  all of the  assets  of a  Party  or its
                                    Permitted  Transferee  to, or a merger into,  or
 consolidation  with, a                                     Person that is not Permitted
Transferee of such Party; or
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c) | the
 acquisition of a Significant  Influence by a Telecom  Competitor in
                                    any Party (other than TII), its Permitted  Transferee
or its Controlling                                     Shareholder. Significant Influence shall
exist through:
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (i) | the
 right  of  a  Telecom  Competitor  to  nominate,  elect  or
                                            appoint one third (1/3) or more of the
 managing or  supervisory                                             directors,  or
 persons  performing  similar  functions  of such
                                            Party,    its   Permitted    Transferee   or
  its   Controlling                                             Shareholders;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (ii) | a
Telecom  Competitor  owing or  controlling or having the right
                                            to acquire one third (1/3) or more of the
voting  securities  or                                             voting  rights in such
Party,  its  Permitted  Transferee or its
                                            Controlling Shareholder; or
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (d) | any
transaction  that results in a violation of Section  3.1(g),  4.8.6,
                                    4.9 or 5.4; or
| | --- | ---------------------------------------------------------------------------------------------------------------------------

| | (e) | an
 act or  failure  to act by a  Party  or any of its  Affiliates  that
                                    results  in  a  termination   of,  or  a  default
  under,   a  material                                     Authorization  granted  to or
used by the  COMPANY,  any of the  HOLDING                                     COMPANIES
or Operating Companies, TII or any of TIIs Affiliates; or
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (f) | an
 Insolvency  Proceeding  brought  against such Party,  its  Permitted
                                    Transferee  or its  Controlling  Shareholder  and,
 to the  extent  such                                     Insolvency  Proceeding  is not
 voluntary,  such  Insolvency  Proceeding                                     remains
undismissed for a period of sixty (60) days.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.3
     The Share  Purchase  Option or the Share Sale Option may only be exercised  while
                  an Event of Default  exists for a period of one  hundred  and eighty
 (180) days after the                   occurrence  of any of Event of Default,  and
notice of such  exercise must be delivered in                   writing by the  Electing
 Shareholder  to TII or TECHOLD,  whichever  is not the  Electing
                  Shareholder,  provided  that  failure of an Electing  Shareholder  to
exercise  its rights                   under this Section with respect to any Event of
Default  shall not  constitute a waiver of                   such rights with respect to
any subsequent Event of Default.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.4.
    The price of Share Purchase Option  (hereinafter  the Purchase  Price) shall be
                  equal to the Fair  Market  Value of the Shares  sold (as  defined in
Section  6.10  below)                   minus ten  percent  (10%) and the price of the
Share Sale  Option  (hereinafter  the Sale                   Price) shall be equal to
Fair Market Value of the Shares sold plus ten percent (10%).
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.5.
    In the  event an  Electing  Shareholder  is  exercising  rights  under  the Share
                  Purchase Option, the Electing  Shareholder must pay the Purchase Price
of the Shares being                   purchased  (as  established  in Section  6.4
 above) to TII or  TECHOLD  (on behalf of all                   INVITEL  Parties),
  whichever  is  not  Electing   Shareholder  (such  Shareholder,   the
                  Shareholder-at-Fault)  within  thirty  (30) days after final
 determination  of the Fair                   Market Value of the Shares.  In the event
an Electing  Shareholder  is  exercising  rights                   under the Share Sale
 Option,  the  Shareholder-at-Fault  must pay the Sale Prices for the
                  Shares  of TII (in the case that TII is the  Electing  Shareholder)  or
the  Shares of all                   INVITEL Parties (in the case that TECHOLD is the
Electing  Shareholder) within thirty (30)                   days after  determination  of
the Fair  Market  Value of the Shares.  In both  cases,  all                   amounts
 shall be indexed  for  inflation  as from the date the Fair  Market  Value of the
                  Shares of the COMPANY is  determined,  in  accordance  with the
 variation  of the General                   Market Price Index of the Getúlio Vargas
Foundation  (IGP-M/FGV) or any other applicable                   index in case the
 IGP-M/FGV is  extinguished  or may no longer be used, or in the absence
                  of the latter,  an index to be mutually  agreed among TII and TECHOLD,
 and in the absence                   of an agreement  between said Parties,  that index
 determined  by Electing  Shareholders                   auditors.  In the event
 selling  Shareholder  happens to be TII,  the Sale Price shall be
                  remitted abroad as indicated by TII and paid to TII in U.S.  dollars.
 Upon payment of the                   Purchase  Price  or Sale  Price,  as  applicable,
 the  Electing  Shareholder,  and  other                   appropriate  Shareholders,
 shall execute the applicable  corporate book and registries of                   the
COMPANY and any other  corporate  documents or  instruments  reflecting the assignment
                  and  transfer  of  the  applicable  Shares  to the  Electing
 Shareholders  in  accordance                   herewith,  or the assignment and transfer
of all of the Electing  Shareholders  Shares to                   the applicable
Shareholder in accordance herewith.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.6
     Each  Party  shall  pay and  shall  be  subject  to all  taxes  imposed  on it by
                  applicable  laws and  regulations  on the sale,  assignment  and
transfer of the COMPANYs                   Shares described in this Chapter 6.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.7.
    In the  event an  assignment  and  transfer  of  Shares  takes  place  under  the
                  provisions of this Chapter,  this Agreement shall be terminated in
relation to the selling                   Shareholder and shall produce no further
effects thereafter,  except that such termination                   shall in no way
operate to impair,  exclude or destroy any other rights or remedies of any
                  Party (including  selling  Shareholder or any individuals or companies
in any way related,                   whether  directly or indirectly,  to same) under
this Agreement,  nor shall it relieve any                   Party (including  selling
 Shareholder or any individuals or companies in any way related,
                  whether  directly or  indirectly,  to the same),  or COMPANY of its
 obligations to comply                   with any of the provisions of this Agreement,
 which obligations have accrued prior to the                   effective  date of
 termination  or which are expressly  stated to survive  termination or
                  which, by their very nature, are intended to survive termination.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.8
     The  Parties  and their  respective  successors  under  whatever  title shall not
                  invoke any  provision  of this  Agreement  or of any other  agreement
 or  instrument,  to                   hinder,  thwart or in any way prevent the sale,
assignment and transfer of Shares provided                   for in this  Chapter or any
other  Chapter  from  being  fully  carried  out and the sale,
                  assignment  and  transfer  of  shares  being  duly  formalized.
  Moreover,   the  selling                   Shareholders  shall deliver to the
purchasing  Shareholders  good title, free and clear of                   any liens,
claims, charges,  encumbrances,  security interests or options of whatever kind
                  to its  shares  and shall  transfer  all rights  inherent  to them such
as voting  rights,                   profits,  dividends,  bonuses and preferences.
 Selling  Shareholders and their respective                   successors shall be liable
for all and any obligations or liabilities  inherent or related                   to  the
 Shares  prior  to  their  final  sale,  assignment  and  transfer  to  purchasing
                  Shareholders.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.9
     In case the  Electing  Shareholders  exercise  the Share  Purchase  Option or the
                  Share Sale Option,  as the case may be, the  provisions  of this
Chapter  shall  expressly                   survive the termination of this Agreement
until the transactions  contemplated  herein are                   fully completed.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6.10
    For the purpose of this  Section,  Fair  Market  Value of the Shares sold shall
                  mean, at any time, the fair market value per Share,  as of the last day
of the month prior                   to the date notice of a Share Purchase Option or
Share Sale Option is exercised  hereunder                   multiplied  by the number of
Shares  held by the  Selling  Shareholder,  increased  by the                   amount of
any  distributions  to which the selling  Shareholder is then entitled but which
                  have not yet been paid and otherwise  determined as follows: (i) a
value of the COMPANY as                   a going  concern  determined  in good faith by
TII and TECHOLD  based upon both short term                   and long term
 considerations  that are customary in such valuations,  including,  but not
                  limited  to,  the  most  recent  financial   statements,   with
  consideration   for  any                   non-recurring events that would not normally
affect the value of a company,  public market                   values (or known recent
private  transaction  valuations) of comparable  companies  and/or
                  companies in similar  industries,  and structural  and/or strategic
changes to COMPANY and                   its subsidiaries,  but without any control
premium or minority  discount,  and (ii) if TII                   or TECHOLD  cannot
 agree upon the Fair Market Value of the Shares to be sold under clause
                  (i) above within ten (10) days after the date notice of the  exercise
of a Share  Purchase                   Option or Share Sale Option is received,  the
value as  determined  by an appraisal  which                   shall  value the COMPANY
as a going  concern  based upon the  considerations  set forth in
                  clause (i) above.  Such  appraisal  shall be  conducted  (A) by a firm
of  internationally                   recognized  investment  bankers  jointly  selected
 by TII  and  TECHOLD  or  (B) if  such                   Shareholders  are  unable  to
 agree  on a  single  firm  of  investment  bankers,  by two
                  internationally  recognized  investment  banking firms,  each selected
by TII and TECHOLD,                   each of which shall  determine the Fair Market
Value,  in which case the Fair Market Value                   of the shares of the
selling  Shareholder  shall be the average of the two valuations.  In
                  addition,  for purposes of  determining  Fair Market  Value  hereunder,
 all  transactions                   between any COMPANY and/or its subsidiaries,
 employees,  directors or shareholders  shall                   be calculated on the
basis of an arms length  transaction.  The  determination of the Fair
                  Market Value as determined  pursuant to this Section 6.10 shall be
final and conclusive on                   all Parties hereto,  absent manifest error.
 The cost of determining the Fair Market Value                   shall be borne by the
COMPANY.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

4. References
contained in the Shareholders Agreement.Henceforth, all references to the Agreementor
to the 2002 Shareholders Agreement contained in the Shareholders Agreement shall
be understood as references to the Shareholders Agreement as amended hereby.

5. Effect.All
provisions of the Shareholders Agreement not expressly here amended shall remain in
full force and effect without modification.

6. Registration.This Amendment will be annotated in the share registry books and on the share
certificates (if issued), and copies hereof will be filed at the head office, of the
COMPANY, of Brasil Telecom Participações S.A. and of Brasil Telecom S.A., for all legal
purposes.

IN WITNESS  WHEREOF,
 the Parties hereto have executed 7 (seven)  counterparts of this Amendment on the day
and year first above written in the presence of two witnesses.



| | TECHOLD PARTICIPAÇÕES S.A.                
| | ------------------------------------------
|
| | ________________________________________  
| | By:_____________________________________  
| | Title:____________________________________
|
| | ________________________________________  
| | By:_____________________________________  
| | Title:____________________________________
|
|
|
| | TIMEPART PARTICIPAÇÕES LTDA.              
|
| | ________________________________________  
| | By:_____________________________________  
| | Title:____________________________________
|
|
| | TELECOM ITALIA INTERNATIONAL N.V.         
|
| | ________________________________________  
| | By:_____________________________________  
| | Title:____________________________________
|
| | ________________________________________  
| | By:_____________________________________  
| | Title:____________________________________
|
|
| | SOLPART PARTICIPAÇÕES S.A                 
|
| | ________________________________________  
| | By:_____________________________________  
| | Title:____________________________________
|
| | ________________________________________  
| | By:____________________________________   
| | Title:___________________________________ 

Witnesses:

1.
_________________________________________Name:ID no:2.
_________________________________________Name:ID no: