PRACTICE AREAS OF SPECIALIZATION

Aircraft - This area represents an increasing part of the firm's workload. Domestic and foreign clients are advised in matters involving lease agreements, international tax structuring, registration and repossession of aircrafts.

Banking - CSBA has large expertise in banking. Its advisory services cover all main aspects of the applicable regulations (monetary, foreign currency, etc.) as well as the operational spectrum of banking. Particular emphasis has been given to the "engineering" and structuring of particular transactions and new financial instruments or products proposed to be developed by its clients. The latter includes more recently and inter alia, back-to-back loans, options and derivative instruments.

Competition - Large experience in both Portuguese and EU Competition Laws and Directives. CSBA has been also particularly active in agency and distribution agreements, licensing and trade marks.

Corporate and Project Financing - The firm has been retained by multilateral and state owned organizations in connection with projects carried out in Portugal (greenfield, turn-key and expansions) involving loan, equity and quasi-equity investments as well as the related subsequent divestment and repatriation. Corporate financing is also an important part of CSBA's portfolio.

Finance and Capital Markets - CSBA has a large experience in the legal aspects of underwriting (both on a best-effort and on a firm basis), stock exchange listings, debt to equity transactions, offering and placing of securities, risk/portfolio management and related services.

Industrial and Manufacturing – CSBA has assisted clients, many from green-field, in the metalomechanic, electronic and pharmaceutical areas.

Intellectual and Industrial Property - CSBA has been frequently acting in software related problems, in biotechnological matters and in general patent and trademark issues.

Large Investment Contracts - CSBA has acted for clients in large investment contract negotiations, obtaining packages of subsidies and State Aid.

Market Borrowings - The major international market borrowings made by the Portuguese banks have been counseled by CSBA.

Privatization (Infrastructure) - CSBA has been involved in several privatizations in Portugal. The underwriting of TELECOM, Banks and Insurance Companies are the most recent cases.

Public Tenders and Procurement - CSBA advises foreign investors on all matters related to the filing and the submitting of tenders in Portugal, as well as appeals against wrongful decisions from the Administration. Telecommunications, energy and transportation are some of the areas where CSBA's services have been required.

Real Estate – CSBA has a large experience in what concerns property investments, planing and zoning.

Restructuring and Mergers & Acquisitions - The firm has been involved in several M&A transactions in recent years. Particular emphasis is always given to the overall economic aspects (and not merely legal) and the human resources allocated to the business or corporation to be restructured/merged.

Tax Planning and Advising - A significant part of the firm´s practice is related to tax planning and tax advising in the framework of the available instruments to increase domestic and cross-border efficiency. Insofar as the legal perspective of taxation is concerned, CSBA has often advised not only direct clients but also several international auditing firms. CSBA has a large experience in what concerns offshore investments.

Telecommunications - CSBA has a deep knowledge of the Telecommunications law and has acted for several national and international clients.