NOTICE N.º 1294/14
We hereby inform that, on 24th October, 2014, the following issues of warrants, were registered, issued by Commerzbank Aktiengesellshaft:
| Code | Name | Quantity |
| KFMWWP | Warrants s/ Portugal Telecom-Call-0,8 EUR-17.12.2014 | 500.000 |
| KFMXWP | Warrants s/ Portugal Telecom-Call-0,9 EUR-17.12.2014 | 500.000 |
| KFMYWP | Warrants s/ Portugal Telecom-Call-1 EUR-17.12.2014 | 500.000 |
| KFMZWP | Warrants s/ Portugal Telecom-Call-1,1 EUR-17.12.2014 | 500.000 |
| KFM1WP | Warrants s/ Portugal Telecom-Call-0,9 EUR-18.03.2015 | 500.000 |
| KFM2WP | Warrants s/ Portugal Telecom-Call-1 EUR-18.03.2015 | 500.000 |
| KFM3WP | Warrants s/ Portugal Telecom-Call-1,1 EUR-18.03.2015 | 500.000 |
| KFM4WP | Warrants s/ Portugal Telecom-Call-1,2 EUR-18.03.2015 | 500.000 |
| KFM5WP | Warrants s/ Portugal Telecom-Call-1,4 EUR-18.03.2015 | 500.000 |
| KFM6WP | Warrants s/ Portugal Telecom-Call-1 EUR-17.06.2015 | 500.000 |
| KFM7WP | Warrants s/ Portugal Telecom-Call-1,2 EUR-17.06.2015 | 500.000 |
| KFM8WP | Warrants s/ Portugal Telecom-Call-1,4 EUR-17.06.2015 | 500.000 |
| KFM9WP | Warrants s/ Portugal Telecom-Call-1,6 EUR-17.06.2015 | 500.000 |
INTERBOLSA, 24th October, 2014