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VIVO PARTICIPAÇÕES S.A.
CNPJ/MF No. 02.558.074/0001-73 - NIRE 35.3.001.587.9-2
Publicly-held Company

Notice to Shareholders

The management of Vivo Participações S.A. (“Vivo Participações”) informs that, on August 21, 2007, an extraordinary general shareholders’ meeting was held in order to ratify the execution of the Stock Purchase Agreement entered into on August 02, 2007 with Telpart Participações S.A., for the acquisition of the controlling equity interest of Telemig Celular Participações S.A. and Tele Norte Celular Participações S.A., which are, respectively, the controlling shareholders of Telemig Celular S.A. and Amazônia Celular S.A. pursuant to the notice of material fact disclosed on August 03, 2007 (“Acquisition”), provided that the conclusion of the approved transaction is subject to the fulfillment of certain precedent conditions set forth in said agreement, including, among which, the approval by Agência Nacional de Telecomunicações – ANATEL, the Brazilian regulatory agency.

1. Right to withdraw. The holders of common shares issued by Vivo Participações that dissented from the approval of the Acquisition shall have the right to withdraw from the company by means of the reimbursement of the proved amount of shares held by such shareholders on August 03, 2007, for R$ 5.74 per share, based on the shareholders’ equity of the company as of June 30, 2007.

2. Limit date for exercising the right. Considering the publication, on August 23, 2007, of the minutes of the general shareholders’ meeting that approved the Acquisition, the right to withdraw may be exercised by the shareholders referred to in item 1 above, who decide to so, from August 24, 2007 until September 24, 2007.

3. Procedures and conditions for qualifying. We hereby remind the shareholders, which intend to exercise the right to withdraw, that the partial exercise of such right will not be allowed.

Those shareholders whose shares are deposited with the “Companhia Brasileira de Liquidação e Custódia – CBLC”, if they intend to do so, shall exercise the right to withdraw by means of their Custody Agents.

Those shareholders whose shares are under custody of BANCO ABN AMRO REAL S.A., financial institution responsible for the deposit of book-entry shares of the company, shall exercise the right to withdraw by reporting to any agency of such institution, within the bank working hours, at its locality and by filling out the form named “Exercise of the Right to Withdraw”, available at the financial institution, and, for such purpose, such shareholders shall deliver certified copies of the following documents:

INDIVIDUALS: CPF (enrollment with the Taxpayers’ List), RG (identity card) and updated address evidence (up to 02 months).

LEGAL ENTITIES: CNPJ (enrollment with the Taxpayers’ List), minutes of the election of the officers (legal representatives), bylaws/articles of association and amendments thereto, as well as the documents of the quotaholders/shareholders and legal representatives (CPF, RG and updated address evidence).

The shareholders that will be represented by attorneys-in-fact shall deliver, in addition to the documents referred to above, the corresponding public power-of-attorney, which shall contain special powers in order to allow the attorney-in-fact to express on his behalf the exercise of the right to withdraw and to request the reimbursement of shares.

The negotiation of shares issued by Vivo Participações S.A. in stocks exchanges shall not be interrupted.

The payment to shareholders who opt for the right to withdraw shall be made from September 28, 2007 and thereafter.

São Paulo, August 22, 2007.
Ernesto Gardelliano
Investors Relationship Officer