Eletropaulo Posted Net Income of R$ 150.5 Million and EBITDA of R$ 374.5 Million in 1Q08

SAO PAULO, May 15 /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 1st quarter, 2008.

Comments by Alexandre Innecco - Chief Financial Officer and Investor Relations Director

The consumption of the total market in Eletropaulo's concession area rose by 4.2% and came to 9,970.5 GWh, which contributed to generating net revenues of R$ 1,759.8 million, 5.0% higher than the 1Q07 revenues. That rise was possible even though the average Tariff Review of -8.43%, effective since July 2007, negatively affected that result. On the other hand, the R$ 374.5 million EBITDA and the R$ 150.5 million Net Income were 4.5% and 9.2%, respectively, lower due to the 6.9% increase in operating expenses in 1Q08 and the negative Tariff Review.

The new Customer Care System (CCS) went into operation on February 11. Its benefits range from streamlined and improved services for better relationship with our customers to the integration of our operating, financial and accounting processes.

The Company concluded the process of reverse split of their shares on April 1, 2008 aimed at becoming adjusted to BOVESPAS's pattern, thus reinforcing its contribution for the Brazilian Capital Markets development. In addition, Eletropaulo was one of the first companies to make the accounting adjustments in its financial statements, as early as 1Q08, pursuant to Law 11,638/2007. The deadline for Brazilian companies to adopt that procedure is year-end 2008. These adjustments had no significant impact on the quarter.

    ELETROPAULO INVITES:

    Conference Call / Webcast

    PRESENTATION:
    Britaldo Soares - Chief Executive Officer
    Alexandre Innecco - Chief Financial Officer and Investor Relations
    Director

    DATE:   Friday, May 16, 2008

    TIME:   11:30 a.m. (Brazil time) / 10:30 a.m. (US 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: Eletropaulo

    REPLAY: (+55 11) 4688-6312

    CODE: 351

    AVAILABLE FROM: 05.16.2008 to 05.22.2008

The teleconference audio with a slide presentation will also be webcast, followed by a slide presentation -- Access through: www.eletropaulo.com.br/ir

AES Eletropaulo Day

Save the date -- June, 24th, 2008. Meet the business of AES Eletropaulo! Further information will be provided soon.

SOURCE AES Eletropaulo