Eletropaulo Will Distribute R$ 359.5 Million in Intermediate Dividends Based on the...

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

SAO PAULO, Brazil, Aug. 13 /PRNewswire-FirstCall/ -- 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: 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.

SOURCE Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A.

Luciana Silvestre, +55 11 2195 2282, or Fax: +55 11 2195 2503,
luciana.silvestre@aes.com