AES Tiete Recorded in 1Q08 Net Income of R$ 172.8 Million, Which Will be Fully Distributed as Dividends

SAO PAULO, Brazil, May 15 /PRNewswire-FirstCall/ -- AES Tiete S.A. (Bovespa: GETI3 and GETI4; OTC Pink Sheets: AESAY and AESYY) today announced its results for the 1st quarter, 2008.

Comments by Mr. Alexandre Innecco - Finance and Investor Relations Officer

AES Tiete had an EBITDA of R$ 313.8 million and net income of R$ 172.8 million in the first quarter of the year, respectively 9.3% and 7.7% above the first quarter of 2007.

The excess generation of energy, coupled with price hikes in the short-term market, contributed to the positive results in 1Q08. Although the generated energy in 1Q08 was 20.2% lower than in 1Q07, due to a delay in the rainfall period, AES Tiete's generation surpassed its assured energy by 18% during the period.

The Company concluded the process of reverse split of their shares on April 1, 2008, aimed at becoming adjusted to BOVESPA's pattern, thus reinforcing its contribution for the Brazilian capital market development.

Additionally, AES Tiete was one of the first companies to execute in 1Q08 the accounting adjustments in the financial statements, relative to the requirements of Law 11,638/07. The deadline for such adjustments is year-end 2008. These adjustments had no impact on the quarterly earnings.

In line with the practice of paying dividends, adopted since 2006, AES Tiete will distribute its entire net income in the quarter as dividends.

    AES Tiete INVITES:

    Conference Call / Webcast

    PRESENTATION:
    Britaldo Soares - Chief Executive Officer
    Alexandre Cesar Innecco - Finance and Investor Relations Officer

    DATE: Friday, May 16, 2008
    Simultaneous interpretation into English will be provided.

    Time: 10:30 a.m. (BR) / 09:30 a.m. (EDT)
    Connection number:
    BRAZIL (55 11) 4688-6301
    USA (1 800) 860-2442
    Other countries: (1 412) 858-4600

    CONFERENCE CODE: Tiete

    Replay: (55 11) 4688-6312
    Code: 210
    Available: from 05.16.2008 to 05.22.2008

The presentation slides will be available for viewing and downloading on the website: www.aestiete.com.br/ri

The conference audio will be webcast on the same site, where it will be available after the event.

SOURCE AES Tiete S.A.