It was with great sadness and shock that we learned of the sudden death, on 29 August last, at Hospital de Abrantes, of Mr. Pedro Palhinha, our President of the Board of Directors, well known for his involvement in the Group, both as an employee and as a shareholder, since his grandfather was one of the founding members of Entreposto.

Born on March 28, 1951 in Beira, Mozambique, Pedro Palhinha held a degree in Law from the Universidade Clássica de Lisboa, having worked as a self-employed lawyer until joining the Group’s Legal Services in 1990.

He was a Member of the Holding’s Board of Directors since 1999, then in 2003 he became Vice-President of the Board of Directors and since 2006, he was President of the Board of Directors, a position he presently held, although as non-executive since last year.

At the same time, and on behalf of the Group, he held the position of Vice-President of the Executive Board of União das Cidades Capitais de Língua Portuguesa (UCCLA).

Highly friendly and kind to everyone, with a rather simple and generous way of dealing with people, the death of Mr. Pedro Palhinha is an irreparable loss for Grupo Entreposto and for everyone around him.

We shall not forget his usual cheerfulness as well as the sobriety and composure he always transmitted even in the most difficult occasions.