March 2008

This presentation may include forward-looking statements of future events or results according to regulationsof the Brazilian and international securities and exchange commissions. These statements are based oncertain assumptions and analysis by the company that reflect its experience, the economic environment andfuture market conditions and expected events, many of which are beyond the control of the company.Important factors that may lead to significant differences between the actual results and the statements ofexpectations about future events or results include the company’s business strategy, Brazilian andinternational economic conditions, technology, financial strategy, public service industry developments,hydrological conditions, financial market conditions, uncertainty of the results of future operations, plans,objectives, expectations and intentions, among others. Considering these factors, the actual results of thecompany may be significantly different from those shown or implicit in the statement of expectations aboutfuture events or results.

DisclaimerDisclaimer

2

future events or results.

The information and opinions contained in this presentation should not be understood as a recommendationto potential investors and no investment decision is to be based on the veracity, current events orcompleteness of this information or these opinions. No advisors to the company or parties related to them ortheir representatives shall have any responsibility for whatever losses that may result from the use or contentsof this presentation.

This material includes forward-looking statements subject to risks and uncertainties, which are based oncurrent expectations and projections about future events and trends that may affect the company’s business.These statements include projections of economic growth and energy demand and supply, as well asinformation about the competitive position, the regulatory environment, potential opportunities for growthand other matters. Several factors may adversely affect the estimates and assumptions on which thesestatements are based.

2007 Results2007 Results

█ Net income increases 11.6%

█ Consolidated EBITDA reaches R$ 1,123 MM in 2007, a growth of 4.6% yoy

█ EBITDA growth would be 16.3% if non-recurring items were eliminated

(negative impact of R$ 183.1 MM due to extraordinary reduction in Enersul’s RAB)

█ Generation segment’s EBITDA grows 62.1% reaching R$ 442 MM

Highlights of 2007Highlights of 2007

4

█ Generation contributes with 38% of consolidated EBITDA

█ Commercialization grows 7.2% yoy in volume and 25.7% yoy in margin

█ Net operating revenue from Distribution grows 9.6%

█ In Distribution, manageable expenditures per MWh distributed grow 5.5%, increasing less than inflation

█ Financial expenses decrease 22.5%

█ Company’s Board of Executive Officers restructured with the appointment of a new CEO

GenerationGeneration

Generation’s performance was outstanding in 2007, driven by Generation’s performance was outstanding in 2007, driven by the increase in capacity...the increase in capacity...

4,7585,568

Volume Energy Sales

(GWh)

3,9294,704

Volume of Produced Energy

(GWh)

+17.0%

+8.4%-9.3%

+19.7%

6

█ Operation of Peixe Angical HPP and the 4th generating unit at Mascarenhas HPP fully integrated throughout 2007

█ Startup of commercial operations at São João SHP

1,480N.A.

4Q06 4Q07 2006 2007

1,355N.A.

4Q06 4Q07 2006 2007

…which resulted in strong EBITDA growth…which resulted in strong EBITDA growth

88130

273

442

EBITDA

(R$ MM)

134 170

454

583

Net Revenue

(R$ MM)+28.3%

+26.5% +47.4%

+62.1%

7

4Q06 4Q07 2006 2007

3663

128

206

4Q06 4Q07 2006 2007

Net Income

(R$ MM)

4Q06 4Q07 2006 2007

+72.5%

+60.7%

█ EBITDA margin from generation increases to 75.8% in 2007 from60.1% in 2006

2009 2009 2012

360

29

1,043

2550452

40920*

1,452

Estimated start-up of

+39.2%

+102.1%

Installed capacity

(MW)

Installed capacity has almost doubled since 2005 and with Installed capacity has almost doubled since 2005 and with projects already underway, will almost triple in 2012projects already underway, will almost triple in 2012

8

2005 UHE Peixe Angical

4a Máq. Mascarenhas

PCH São João

Atual PCH Santa Fé Repotenciações

UTE Pecém 2012

334 645 980

* Includes 2.3 MW from the upgrading of Suíça HPP, still awaiting Aneel ratification

1,043

516

1,043

Estimated start-up of commercial operation

Assured Energy (average MW)

51.9%93.1%

Projects concluded since IPO

Projects in progress

DistributionDistribution

34% 34%

13%13%

37% 37%

1%1%

In distribution, despite market growth...In distribution, despite market growth...

Volume of Distributed Energy

(GWh)

+4.5%

+6.5%

23,948 25,029

+4.5%

+6.5%

Energy Distributed by Customer Class

(GWh)

23,94825,029

4Q06 4Q07 2006 2007 4Q06 4Q07 2006 2007

10

53%53%

53% 53%34%

13%

33%

14%

62%62%

62% 62%36%2%

36%1%

Energy in Transit

6,038 6,428

Bandeirante EnersulEscelsa End Customers Other

53%

6,0386,428

978 891

49%

48% 51%

31%31%

18%21%

20%31%

57%

7%36%

242

31

829679

54%

46% 61%

33% 37%

2%21%

29%

17%

... financial performance was negatively impacted by the ... financial performance was negatively impacted by the reduction in reduction in Enersul’sEnersul’s RABRAB

Net Revenue

(R$ MM)

3,5733,916

EBITDA

(R$ MM) -18.1%

-9.0% -87.1%

+9.6%

4Q06 4Q07 2006 2007

4Q06 4Q07 2006 20074Q06 4Q07 2006 2007

11

49%

54%

57% 54%

54%

16334

54%

15%

332292

42%

43%36%15%

49%

EnersulEscelsa

█ Reduction in 2007 EBITDA vs 2006 reflects a negative non-recurrent effect of R$ 183.1 MM with respect to the impact of the reduction inEnersul’s RAB

Net Income

(R$ MM)

-79.0%

-12.1%

Bandeirante

4Q06 4Q07 ∆% 2006 2007 ∆%

Personnel 65.9 70.2 6.4% 303.2 259.1 -14.5%

Material 7.9 10.5 32.4% 33.6 40.0 19.3%

Third Party Services 73.1 87.2 19.3% 265.2 311.2 17.3%

Provisions 14.6 24.0 64.4% 66.7 132.5 98.7%

Others 24.6 18.5 -24.9% 63.8 64.9 1.8%

Manageable Expenditures (R$ MM)

Manageable expenditures per MWh increased less than inflation Manageable expenditures per MWh increased less than inflation in the period, despite the increase in contingenciesin the period, despite the increase in contingencies

12

Others 24.6 18.5 -24.9% 63.8 64.9 1.8%

Total 186.1 210.3 13.0% 732.4 807.7 10.3%

Distr. energy vol. (GWh) 22,394 23,061 3.0% 23,948 25,029 4.5%

R$ / MWh 8.31 9.12 9.7% 30.58 32.27 5.5%

IGPM 7.8% 7.8%

+ R$ 11.5 MM in PDD at subsidiary companies

+ R$ 23.9 MM in civil, tax and labor contingencies recognized by the discos

Provisions and Others

+ R$ 14.3 MM in operating efficiency programs and support activities

+ R$ 9.9 MM in conservation and repair of discos’ networks

+ R$ 3.4 MM in expenditures with collections, meter reading, billing, disconnections and reconnections

Third Party Services

Productivity indicators show continuous improvementsProductivity indicators show continuous improvements

10.110.3

12.012.9

5.86.6

8.18.9

3.4 3.64.3 4.4

GWh / employee

13

1.06 1.07

1.29 1.40

0.89 0.941.06

0.961.15

0.80 0.760.71

Client / employee

2004 2005 2006 2007

Bandeirante EnersulEscelsa

Bandeirante EnersulEscelsa

6.05.65.45.3 8.08.27.87.6

4.44.44.24.0

Commercial Losses

2.52.42.3 2.3

SepJunMar Dec

Escelsa EnersulBandeirante EDB

Measures taken allowed losses to be kept under control, within Measures taken allowed losses to be kept under control, within existing limits existing limits

SepJunMar Dec SepJunMar Dec SepJunMar Dec

14

~ 745 thousand inspections undertaken and300 thousand frauds detected in 2007

~ R$32.5 in recovered revenues

Efficacy of investments aimed at combating losses is reflected primarily in avoidance of increased fraud

9.0% 9.1% 9.1%

4.4%

8.9%

4.2%4.1% 4.4%

Total Losses

SepJunMar Dec

13.0% 13.2% 13.5% 13.5%

2007

SepJunMar Dec2007

SepJunMar Dec

2007SepJunMar Dec

2007

SepJunMar Dec

2007

And in April, we conclude the second cycle of periodic tariff And in April, we conclude the second cycle of periodic tariff reviewreview

Verified Revenue

Parcel A

Parcel B

Model Company

Delinquency

Remuneration

Regulatory Depreciation

2nd Tariff Review Cycle ESCELSA

1,356,583

814,707

452,202

221,263

8,852

143,590

78,497

BANDEIRANTE

2,146,463

1,402,476

567,473

262,867

12,667

184,119

107,820

ENERSUL (preliminary)

925,262

512,844

379,984

183,254

7,571

117,407

71,752

15

Regulatory Depreciation

Total Required Revenue

(-) Other Revenue

Net Required Revenue

Tariff Review (excl. fin. adjust.)

Financial Adjustments 2007

Financial Adjustments 2006

Post Fin. Adjust Tariff Review

Gross RABNet RAB

-6.92%

1,266,908

4,177

1,262,730

78,497

1,842,657952,457

4.76%

-7.46%

-9.62%

107,820

1,969,950

12,443

1,957,506

-8.80%

-0.52%

-3.15%

-12.47%

2,354,1441,221,292

71,752

892,827

1,285

891,542

-3.64%

-12.29%

-3.00%

-18.93%

1,704,327778,778

CommercializationCommercialization

52

78

In commercialization, the growth of volume combined with the In commercialization, the growth of volume combined with the increase in margin...increase in margin...

8141,193

6,7027,188

Volume of Energy Commercialized

(GWh)

+7.2%

Number of Customers

+50%

17

2006 2007

1,669

5,5096,374

1,349

37222

4Q07 2006 2007

Energias do Brasil Group Companies

Other

4Q06

1,7061,571

+8.6%

Commercialization Margin

2007 vs 2006

25.7%

83

47

47

…resulted in growth of 37% in EBITDA, adjusted to exclude the …resulted in growth of 37% in EBITDA, adjusted to exclude the impact of provisions for Ampla’s receivables impact of provisions for Ampla’s receivables

118 153

495

618

Net Revenue

(R$ MM)

Adjusted EBITDA

(R$ MM)

+30.2%

+24.9%+ 37.2%

40

4312

59

40

8

3

11

+ 37.5%

18

4Q06 4Q07 2006 20074Q06 4Q07 2006 2007

7 9

34

4Q06 4Q07 2006 2007

Net Income

(R$ MM)

-18

-32

> 10x

3

40

-32

8

Energias do BrasilEnergias do Brasil

290156

1074 1123

+16.3%

1,085 1,076

3,9854,513

Reduction in Enersul’s RAB also had a significant impact on Reduction in Enersul’s RAB also had a significant impact on consolidated results…consolidated results…

Net Revenue

(R$ MM)

Adjusted EBITDA

(R$ MM)+13.3%

-0.8%-11.0%

1,1231,074

1.3401.152

290

384

342

20

4Q06 4Q07 2006 20074Q06 4Q07 2006 2007

15568

394440

4Q06 4Q07 2006 2007

Net Income

(R$ MM) +11.6%

-55.8%

290 156

█ The retroactive impact (2003-2007) of the reduction in Enersul’s RAB ofR$183.1MM, was fully recognized in4Q07 accounts

…offsetting the positive effect of the growth in the result for …offsetting the positive effect of the growth in the result for generationgeneration

EBITDA 2007 vs. 2006

(R$ MM)

1,0741,123

-183-143416943

21

2006

Comm

ercia

lizatio

n

Generatio

n

Distrib

ution

Others

Enersu

l RAB

2007

2007 2006

R$ R$ R$ %

1,123.0 1,073.6 49.4 4.6%

Elimination of non-recurring effects

Enersul’s RAB Reduction – retroactive impact (2003 - 2007) 183.1 - 183.1

Provision for receivables due from Ampla - Enertrade 12.0 40.2 (28.2)

Delinquency from collection agent - Bandeirante 11.7 - 11.7

RTE Write-off - Bandeirante 9.9 - 9.9

Reported EBITDA

Change

Bandeirante

Excluding nonExcluding non--recurring events, EBITDA posted growth of 16.3% recurring events, EBITDA posted growth of 16.3% in 2007 in 2007

22

RTE Write-off - Bandeirante 9.9 - 9.9

Redundancy program - 51.6 (51.6)

Recognition of R&D – regulated by Aneel (Apr/2006) - 18.4 (18.4)

Fiscal contingencies - Bandeirante (ICMS - Santos e Salto) - 7.9 (7.9)

Reversion of CVA - Enersul - 6,3 (6.3)

Sectorial contribution - FNDCT (Nat. Fund for Scientific and Tech. Development) - 4,5 (4.5)

Tariff readjustment – Impact from deverticalization (Aug/2006) - (34.4) 34.4

RAB revision - Bandeirante (Resol. 226 of October 18, 2005) - (16.0) 16.0

Adjusted EBITDA 1,339.7 1,152.1 187.6 16.3%

Discos’ debt restructuring was important in reducing financial Discos’ debt restructuring was important in reducing financial expenses by 22.5%...expenses by 22.5%...

Financial Result (R$ MM)

4Q06 4Q07 ∆ % 2006 2007 ∆ %

Financial Income 117.3 41.1 -65.0% 321.0 234.3 -27.0%

Financial Expenses (313.9) (215.7) -31.3% (639.3) (495.6) -22.5%

Net Forex Result (14.5) (12.4) -14.2% (59.5) (42.4) -28.8%

Swap - net result (21.6) (15.5) -28.4% (110.7) (110.4) -0.3%

23

Swap - net result (21.6) (15.5) -28.4% (110.7) (110.4) -0.3%

Foreign Exchange Rate Variation 7.1 3.0 -57.2% 51.2 68.0 32.7%

TOTAL (211.1) (187.0) -11.4% (377.8) (303.7) -19.6%

█ Other factors contributing to improvement in the financial result were

– Lower monetary restatement due to reduction in regulatory asset outstanding; and

– Lower expenses with interest on shareholders’ equity.

689.2

539.1 524.8 504.1

906.2

321.4

1,9571,8791,702

2,345

1.71.8

3.0

1.9

0

1,000

2,000

012345

Net debt/EBITDA

200620052004 2007

Net DebtNet Debt/EBITDA

Debt Maturity Schedule

Cash and Cash Equiv.

2008 2009 20112010 Após 2011

Extended debt maturity, which, together with low levels of Extended debt maturity, which, together with low levels of leverage, provides us with a higher investment capacity…leverage, provides us with a higher investment capacity…

24

1,957

Long Term

2,474 1,879

Short-Term

321 (689)

(149)

Gross DebtDec/07

(-) Cash andMarketable

Securities

(-) RegulatoryAsset andLiabilities

Net DebtDec/07

Net DebtDec/06

2,796

Gross Debt Breakdown

(Dec/07)

Net Debt

(R$ MM)

55%55%38%38%

6%1%

Dollar

Fixed Rates

Long Term Basci Interest Rate

Floating Rates

*** Includes Selic, CDI, IGP-M and INPC

Net DebtNet Debt/EBITDA Cash Equiv.(Dec/07)

2011

Capex Breakdown*

(R$ MM)

217106

585581595

1,023

159 157

Investments – Universalization

(R$ MM)

A substantial increase in CAPEX is envisaged for 2008, largely A substantial increase in CAPEX is envisaged for 2008, largely allocated to generation projects allocated to generation projects

25

378475

217

438

(*) Does not include Capex for Universalization Program

2008E20072006

DistributionGeneration

81

2006 2007 2008E

Historical PerformanceHistorical Performance

775913

1,074 1123

EBITDA

(R$ MM)

Adjusted CAGR +20.0%

4%

EBITDA Breakdown

15%

38%

1,340

From 2004 to 2007, Energias do Brasil delivered an average annual EBITDA From 2004 to 2007, Energias do Brasil delivered an average annual EBITDA growth of 20.0% and achieved a better balance in its asset portfolio by growth of 20.0% and achieved a better balance in its asset portfolio by growing in the generation segmentgrowing in the generation segment

5% 5%

27

775

2004 2005 2006 2007

58%

2004 2007

DistributionGeneration Commercial.

1,123

440

90%

Energias do Brasil is today a company that has made important Energias do Brasil is today a company that has made important achievements ...achievements ...

Today we are...

█ One of the largest listed companies in the electricity sector

█ A company focused on high standards of governance and sustainability

█ The 3rd largest commercialization company

.. with important achievements since the IPO

Healthy growth of the business (+45%, EBITDA since 2004)

Doubling of capacity with better balanced asset portfolio (generation increasing from 5% of EBITDA in 2004 to 30% currently)

28

█ The 3rd largest commercialization company

█ One of the leading discos with about a 3-million-customer base

█ A company well placed to leverage market opportunities

– Experience and know-how along the entire value chain

– Financial capacity

– Parent company has an expanding international presence

Creation of the Shared Services Center platform and a reduction of 600 in the number os employees

Continuous productivity improvements in distribution (MWh/employee and customers/employee increased 25% and 27% respetively between 2004 and 2007)

Sharp increase in the commercialization business (+48% in volumes since 2004)

GrouthGrouth OpportunitiesOpportunities

Capacity (MW)Main projects in our portfolio

I. We currently have a portfolio of thermoelectric projects with a total I. We currently have a portfolio of thermoelectric projects with a total capacity of 2,080 MWcapacity of 2,080 MW

█ Joint venture partnership in the Pecem (720 MW) TPP with MPX (50% stake), and an eventual participation in a further 360MW of capacity

360720 1.080

30

500

500

█ Acquisition of the Resende (Rio de Janeiro) gas-fired TPP with 500 MW of capacity

█ Development of a proprietary project for a gas-fired TPP in the north of the state of Espírito Santo with 500 MW of capacity

Capacity (MW)Main projects in our portfolio

I. In addition, the hydroelectric project portfolio amounts to a I. In addition, the hydroelectric project portfolio amounts to a capacity of more than 1,400 MWcapacity of more than 1,400 MW

█ Partnership agreement with Cemig for developing feasibiility studies for HPPs with a total capacity of 1,034 MW (360 MW with Cemig and 674 MW with Cemig, Concremat and AG)

1.034

31

█ Partnership agreement with Engevix for developing feasibility studies for HPPs with a total capacity of 170 MW

█ Partnership agreement with Eletronorte for developing feasibility studies for HPPs with a total capcity of 235 MW

235

170

Capacity (MW) Main projects in our portfolio

II. We currently have renewable generation projects in portfolio II. We currently have renewable generation projects in portfolio in excess of the ~ 1,000 MW targetin excess of the ~ 1,000 MW target

█ 24 SHP projects totaling 538 MW of capacity

– 8 already filed with the regulator for licensing

– 8 to be filed for licensing by July

– 5 to be filed in the second half of 2008

– 3 to be filed in the first half of 2009

538

32

█ Partnership agreement with Cemig for developing 500 MW in wind farm capacity in the state of Minas Gerais

█ Biomass projects under analysis, with a total capacity of 350 MW

500

350

March 2008

www.energiasdobrasil.com.br