Eletropaulo Will Distribute R$ 359.5 Million in Intermediate Dividends Based on the Results From 1H08

2008-08-13 21:54:00

    SAO PAULO, Brazil, Aug. 13 /EMWNews/ -- Eletropaulo

Metropolitana Eletricidade de Sao Paulo S.A. (Bovespa: ELPL3, ELPL5 and

ELPL6; OTC: EPUMY and ELPSY), the largest electric energy distribution

Company in Latin America, today announced its results of the 2nd quarter,

2008.



    Comments by Alexandre Innecco - Chief Financial Officer and Investor

Relations Director



    The consumption by captive clients in Eletropaulo's concession area

rose 2.0% to 8,351.3 GWh, contributing to the generation of net revenues of

R$ 1,844.6 million, 1.6% greater than the revenues for 2Q07.



    The adjusted EBITDA was R$ 520.9 million and net income totaled R$

197.0 million, 34.2% and 42.0% less than in 2Q07, respectively, as a result

of the negative Extraordinary Tariff Reset of -8.43% applied to the tariffs

since July 2007, and the increase of 18.2% in operating expenses during

2Q08, strongly impacted by the increases of 31.9% in non-manageable

expenses (purchases of energy and transmission).



    Based on the Company's stable financial performance and the improvement

in the macroeconomic and operational environment, on June 16, 2008 Standard

& Poor's raised the rating on the national scale for Eletropaulo from A to

A+.



    As subsequent event, (i) ANEEL granted to Eletropaulo a positive Tariff

Readjustment of 8.01% effective July 4, 2008, and (ii) Eletropaulo amended

the contract for the Adjustment of Mathematical Reserves with CESP

Foundation for the extension of the contract due in 2022 until 2028,

lengthening the average term of the debt of the company from 6.4 to 7.8

years.



    On August 13, 2008, the Board of Directors approved the distribution of

intermediate dividends based on the accumulated profits during the first

semester of 2008, in the amount of R$ 359.5 million, corresponding to

103.5% of net profits for the period. The dividends will be paid on August

28, 2008.




ELETROPAULO INVITES: Conference Call / Webcast PRESENTATION: Britaldo Soares - Chief Executive Officer Alexandre Innecco - Chief Financial Officer and Investor Relations Director DATE: Friday, August 15, 2008 TIME: 2:30 p.m. (BR)/1:30 p.m. (EDT) CONNECTION NUMBER: -- Brazil: (+55 11) 4688-6301 -- USA: (1-800) 860-2442 -- Other countries: (1 412) 858-4600 SIMULTANEOUS TRANSLATION INTO ENGLISH WILL BE PROVIDED. ACCESS CODE: AES Eletropaulo REPLAY: (+55 11) 4688-6312 CODE: 190 AVAILABILE from: August 15, 2008 to August 21, 2008 The teleconference audio with a slide presentation will also be webcast, followed by a slide presentation - Access through: http://www.eletropaulo.com.br/ri
Apimec Meetings Rio de Janeiro Date: Monday, August 18, 2008 Time: 8:30 a.m. (Brasilia time) - Breakfast Location: Hotel Sofitel - Sala RJ II. Avenida Atlantica, 4240 - Copacabana - RJ RSVP: (55 21) 2509-9596 Sao Paulo Date: Monday, August 18, 2008 Time: 4:30 p.m. (Brasilia time) - Presentation - followed with cocktails Location: Hotel Unique - Sala Sumatra/ Bora Bora. Avenida Brigadeiro Luis Antonio, 4700 RSVP: apimecsp@apimecsp.com.br Tel.: (55 11) 3107-1571 Minas Gerais Date: Tuesday, August 19, 2008 Time: 12 p.m. (Brasilia time) - Lunch Location: Hotel Mercure - Sala Kepler. Avenida do Contorno, 7315 - Lourdes - Belo Horizonte RSVP: secretaria@apimecmg.com.br Tel.: (55 31) 3213-0693 The presentations will be made only in Portuguese.

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