In accordance with the terms of number 1 of article 17 of the Portuguese Securities Code, we here by disclose that Amorim Energia, B.V. (“Amorim Energia”), has notified us of the following:

“Pursuant to shareholding agreement of Galp Energia, SGPS, SA (“Galp Energia”), signed between Amorim Energia, Caixa Geral de Depósitos, S.A. and ENI Portugal Investment, S.p.A., the shareholding of Galp Energia held by each party are jointly attributable to each subscriber. Therefore the participation imputable to Amorim Energia is the sum of the participations and corresponding voting rights held by the parties of the shareholding agreement.

Amorim Energia, has acquired through Galp Energia initial public offer and transactions taken place on October 24 in the stock exchange, 14,327,906 shares corresponding to 1.728% of Galp Energia share capital and voting rights. As a result, Amorim Energia holds directly 276,472,161 shares corresponding to 33.34% of Galp Energia share capital and voting rights.

Therefore, and according with the information available, the imputable voting rights in accordance with the number 1 of article 20 of the Portuguese Securities Code is 67.68% corresponding to the share capital participation, being 34.34% of those voting rights held by the remaining parties of the shareholding agreement.”

The shareholding agreement mentioned above is described in the Portuguese prospectus for the initial public offer of Galp Energia shares, within the 4^th reprivatization phase of Galp Energia.

Additionally, as of the date of the approval of the Portuguese prospectus by CMVM, the parties of the shareholding agreement, Amorim Energia, Caixa Geral de Depósitos, S.A. and ENI Portugal Investment, S.p.A., held 546,908,925 shares corresponding to 65.95% of Galp Energia share capital and voting rights.

We also inform that as of 30 October 2006 Galp Energia does not own any of its shares.



Galp Energia, SGPS, S.A.