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VIVO PARTICIPAÇÕES S/A
Publicly-held Company – C.N.P.J. 02.558.074/0001-73

NOTICE TO SHAREHOLDERS – PAYMENT OF DIVIDENDS AND INTEREST ON OWN CAPITAL

Vivo Participações S.A. (“Vivo Part” or “Company”) hereby publicly informs to the shareholders that, as from 12.02.2009, we will start to pay Interest on Own Capital – JSCP and Dividends with respect to common and preferred shares, benefiting shareholders of record of the Company as of 12.30.2008 and 03.19.2009, respectively, both related to the fiscal year ended on 12.31.2008, which payment was resolved in the General Meeting of Shareholders held on 03.19.2009, as follows:

1) AMOUNTS PAYABLE PER SHARE

EARNINGS	GROSS AMOUNT - R$ Tax-immune or exempted Shareholders(2)		NET AMOUNT - R$ Taxed Shareholders(1)
	Common	Preferred	Common	Preferred
Interest on Own Capital	0.438528010149	0.438528010149	0.372748808626	0.372748808626
Dividends (3)	0.723158613772	0.723158613772	0.723158613772	0.723158613772

1. Interest at the net value, after deduction of the Withholding Income Tax of 15% (fifteen per cent).
2.  Corporate Shareholders that are discharged from said taxation.
3. Dividends at the book value, without Income Tax withholding, as set forth in art. 10 of Law nº 9.249/95. 

2) PAYMENT TERMS:
2.1.) Credit to the bank account designated by the shareholder and updated by Banco Real (The Trustee of the book-entry shares of this company) until 11/27/2009;
2.2.) Interest and Dividends related to shares under trust custody  with the BM&FBOVESPA S.A. – Stock, Commodities and Futures Exchange of São Paulo, shall be paid to BM&FBOVESPA itself, which will transfer the amounts to the relevant shareholders through the custody agents; and
2.3.) Payment from branches of Banco Real, for those not falling within one of the preceding alternatives.

3) GENERAL INSTRUCTIONS
In order to qualify for receipt of the dividends, a shareholder not registered as per item 2.1 above, shall be required to appear at the place of assistance, provided with evidence of a Bank Account for registration (optional), and with certified copies of the identification documents:

• Individual: CPF and Identity Card; proof of updated address (2 months);
• Legal Entity: CNPJ, partners’ documents, Minutes of Meetings, Bylaws, proof of updated address (2 months), Articles of Association and their respective amendments.

It is mandatory to provide a power of attorney drawn-up with a notary’s office with specific powers for receipt of dividends, in case the Shareholder is represented by an attorney-in-fact, accompanied by the proof and certified copies of the above mentioned documents, as the case may be.

4) PLACES OF ASSISTANCE

All branches of Banco Real.

5) IMPORTANT NOTICES

In accordance with letter “a”, item II of Article 287 of Law no. 6404/76 – (“Brazilian Corporate Law”), the statute of limitations for receipt of dividends is of three (3) years, counted from the date on which the dividends are made available to the shareholders.

6) Important remark:

Once the net amounts of income tax on interest on own capital added to the amounts of dividends per share total the minimum value provided for by law, as from 12.02.2009, effective date of beginning of payment of dividends, the holders of preferred shares shall no longer be entitled to full voting rights.

 

São Paulo, November 19, 2009.

Cristiane Barretto Sales
Investor Relations Officer