TELE CENTRO OESTE CELULAR PARTICIPAÇÕES S.A. ANNOUNCES THE OUTCOME OF THE THIRD AUCTION FOR PLACEMENT OF SHARES RESULTING FROM THE REVERSE SPLIT OF SHARES

TELE CENTRO OESTE CELULAR PARTICIPAÇÕES S.A. – BOVESPA AUCTION OF 05/31/2005 FOR SALE OF SHARES RESULTING FROM THE REVERSE SPLIT OF SHARES NOT MADE AVAILABLE IN THE SECOND AUCTION

 

Brasília, Brazil – June 1, 2005 – Tele Centro Oeste Participações S.A. ("Company"), (BOVESPA: TCOC3 (Common), TCOC4 (Preferred), NYSE: TRO), announces today the total number of common and preferred shares sold at the third auction held on 05/31/2005 at the São Paulo Stock Exchange, and the respective per shares prices to be credited to the shareholders pro rata to the fractional shares held by them before the auction;

Auction held on 05/31/2005

Code	Type	Number of Shares Offered	Number of Shares Sold	Net Value per Share (1)
TCOC3	ON	996,200	22,000	0.56393

 

Auction held on 05/25/2005

Code	Type	Number of Shares Offered	Number of Shares Sold	Net Value per Share (1)
TCOC3	ON	1,009,000	12,800	0.38321

 

Auction held on 05/20/2005

Code	Type	Number of Shares Offered	Number of Shares Sold	Net Value per Share (1)
TCOC3	ON	1,009,000	0	0
TCOC4	PN	942,708	942,708	24.31592

 

Total

Code	Type	Number of Shares Offered	Number of Shares Sold	Accumulated Net Value per Share (1)
TCOC3	ON	1,009,000	34,800	0.94714
TCOC4	PN	942,708	942,708	24.31592

(1) Value net of trading expenses

 

The 974,200 common shares not sold at the auction held on 05/31/05 shall be offered at another auction, to be held on 06/03/2005, for the reference price of R$ 23.31 per common share. This price is equivalent to 90% of the price of R$ 25.90 of the session held on 05/31/2005, the result thereof should be consequently disclosed by the Company.

Having in consideration that not all the shares offered at the auction held on 05/20/05, 05/25/05 and 05/31/05 were sold, the proceeds from the sale of the common and preferred shares traded at the referred auction will only be made available to the holders of fractional shares after the sale of the totality of the Company's shares that remained unsold after such auction, as follows:

(a)  The Shareholders whose shares are in custody with Banco ABN Amro Real S.A. shall appear to any branch of said institution in order to receive the amounts to which they are entitled;

(b)  The amount corresponding to the Shareholders having entered custody agreements with the CBLC – Brazilian Settlement and Custody Company, shall be directly credited to that company, which will transfer the respective amounts to the Shareholders through the Custody Agents; and

(c) For those Shareholders whose Shares are blocked or without updated record, the amount to which they are entitled shall be retained by the Company and made available to the respective Shareholder for payment, which shall be released exclusively against presentation of document evidencing unblocking of the shares and/or identification, as the case may be, at any ABN Amro Real S.A. branch, the institution acting as trustee of the book-entry shares issued by the Company .

 

Brasília, June 1, 2005.

Arcádio Luís Martínez García

Executive Vice-President for Finance, Planning and Control

and Investor Relations Officer

Tele Centro Oeste Celular Participações S.A.

www.vivo.com.br

 

For additional information, please contact:

Charles Edwards Allen

Investor Relations Office

Tel: 55 11 5105-1172

Email: ir@vivo.com.br

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: June 02, 2005