Today, Standard & Poor's Ratings Services downgraded the long-term and short-term corporate credit ratings on EDP – Energias de Portugal S.A. and EDP Finance B.V. from “BBB” to “BB+” with negative outlook, removing the ratings from CreditWatch with negative implications.

In accordance with the law and the Articles of Association, following the request of shareholder Parpública – Participações Públicas (SGPS), S.A., I hereby convene all Shareholders of EDP – Energias de Portugal, S.A. (“EDP”), a listed company, with head office at Praça Marquês de Pombal, no. 12, 1250-162 Lisbon, with the sole number of registration with the Commercial Registry Office of Lisbon and with the tax authorities 500 697 256, with the share capital of 3,656,537,715 Euros, to meet at a General Shareholders’ Meeting, which will take place at Auditório I of Centro de Reuniões of FIL, at Rua do Bojador, Parque das Nações, Lisbon, on February 20th, 2012, at 15 pm.

On December 30, 2011, China Three Gorges Corporation (“CTG”) notified EDP that it has entered into a Strategic Direct Sale Agreement with Parpública – Participações Públicas (SGPS), S.A. for the acquisition of 780,633,782 ordinary shares of EDP, which correspond to 21.35% of EDP’s share capital and 21.35% of the respective voting rights. The imputation of a qualifying holding results from the signature of said agreement within the context of the implementation of EDP’s 8th reprivatization phase.

In the context of the 8th reprivatisation phase of EDP – Energias de Portugal, S.A. (“EDP”), the Portuguese State announced today that China Three Gorges (“CTG”) has been selected to be the purchaser of a 21.35% stake in EDP. Accordingly, it was approved by EDP’s Executive Board of Directors, following the prior favorable opinion of the General and Supervisory Board, the establishment of a strategic partnership with CTG.

The Portuguese Energy Services Regulatory Authority (“ERSE”) made public today the final document regarding the “Tariffs and prices for electricity and other services in 2012 and parameters for the 2012-2014 regulatory period” in Portugal.

Standard & Poor's Ratings Services placed its ratings on 26 European Economic and Monetary Union (EMU or eurozone) government-related entities (GREs) and non-GREs in the corporate and infrastructure sector (including utilities) on CreditWatch with negative implications.

Today, Fitch Ratings (“Fitch”) has maintained EDP - Energias de Portugal, S.A.'s (“EDP”) and EDP Finance B.V.'s long-term Issuer Default Ratings (“IDR”) and senior unsecured ratings at “BBB+” and kept them on Rating Watch Negative (“RWN”). EDP’s short-term IDR is also maintained at 'F2', on RWN. Additionally, the agency has maintained Hidroelectrica del Cantabrico, S.A.'s Long-term IDR at 'BBB+' and its Short-term IDR keeps at 'F2', both remain on RWN.

In the last 12 months, EDP group expanded its installed capacity by 6%, to 22.6GW in Sep-11, mainly driven by new wind capacity (+778MW). In turn, generation output reached 43TWh, 61% of which derived from CO2-free technologies (wind & hydro). Energy distributed by the group rose 1% supported by gas operations and Brazil. Total energy sold to clients in free market rose 5%.

Today, the Portuguese Energy Services Regulator (Entidade Reguladora dos Serviços Energéticos – “ERSE”) announced its proposal for Portuguese electricity tariffs in 2012 and the parameters for the regulatory period 2012-14. ERSE informed EDP, through the letter and document attached.