Galp Energia. SGPS, S.A.

Dividends payment

Galp  Energia, SGPS,  S.A. general  meeting held  on May  30, 2011, approved the
2010 dividend  of  €0.20  per  share,  having  already  been  paid, in September
23, 2010, the first dividend of €0.06 per share.

Under  the terms  of the  law, shareholders  are hereby  notified that the final
dividend  relating to the  financial year of  2010 will be payable  as from June
28, 2011, as follows:

Gross dividend per share: €0.1400

Income taxes (21.5%)*: €0.0301

Net dividend per share: €0.1099

*Dividends  paid  or  made  available  to  accounts  in  the name of one or more
accountholders,  acting on behalf of unidentified third parties are subject to a
final withholding tax rate of 30%, unless the beneficial owner of such dividends
is disclosed.

The  dividends will  be paid  through the  Central de Valores Mobiliários, being
Banco Popular Portugal, S.A. the paying agent.

For   tax  exemption,  exemption  from  withholding  tax  or  reduction  of  the
withholding  rate, shareholders must  confirm their tax  status at the financial
institution in which the respective shares are registered.

Shareholders  resident in Portugal and  taxable for income tax  are subject to a
final tax rate of 21.5%, unless an option for aggregation is made.

The ex-dividend date is June 23, 2011 and the record date is June 27, 2011.

Galp Energia. SGPS, S.A., Public Company
Investor Relations and Corporate Communication Division

Rua Tomás da Fonseca, Torre A
1600-209 Lisbon, Portugal
Tel: +351 217 240 866
Fax: +351 217 242 965
Email:[email protected]

Dividend payment press release:

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Source: Galp Energia. SGPS, S.A. via Thomson Reuters ONE