Leading Brazilian Cable TV Company in $150 Million Guaranteed Perpetual Bond Offering

November 28, 2006

Cleary Gottlieb represented Deutsche Bank Securities Inc. as initial purchaser in Net Serviços de Comunicação’s (“Net”) offering of $150 million of 9.25% guaranteed perpetual bonds. The bonds are unconditionally guaranteed by all of Net’s wholly-owned subsidiaries. The deal closed on November 28.

Net is the largest cable television operator in Brazil and one of the largest pay-television operators in Latin America.