IR Contacts Ronnie Vaz Moreira Vice Chief Executive Officer and IRO

Net income for the first half of 2009 reaches R$290 million
EBITDA for the six-month period is R$570 million

Ricardo Levy Effective free float increases from 7.7% to 22.1% of Financial and IR capital stock after sale of part of the shares held by Superintendent BNDESPar and EDF Cristina Guedes IR Manager Lights results at the end of 1H09 are the fruit of a combination of positive and negative effects, among which the most significant are: Phone: +55 (21) 2211-2650/ 2660 Fax: +55 (21) 2211-2787 www.light.com.br E-mail: ri@light.com.br (i) those resulting from the operating performance (consumption and collection growth); (ii) those arising from major macroeconomic shifts (slower economic growth, dollar depreciation); (iii) those stemming from regulatory impacts (review of tariff and regulatory EBITDA last November); and (iv) those resulting from corporate Conference Call decisions (cash position reduction due to the R$407.9 million Date: 8/12/2009 dividend payment in April). Time: 10 A.M. (Brazil) 9 A.M. (US EST) Disregarding the non-recurring effects of 1H08 and 1H09, net Phones: income for 1H09, discussed below, would have been R$267.2 million Brazil: +55 (11) 2188-0188 and, therefore, 6.2% higher than the result of the same period of 2008.

USA: Collection in 2Q09 reached 103.4% of gross energy supply +1 (866) 890-2584 billing, showing strong recovery compared to 1Q09. During the last Other countries:+1 (646) 843-6045 12 months the collection rate was 97.4% of commercial billing, 0.8 Simultaneous translation into English Webcast: www.light.com.br p.p. above the index recorded in March. Cash generation this quarter before the dividend payment was R$192.9 million more than that of 2Q08. 2009 the Company published the notice of

(Portuguese and English)

On July 14,

commencement of its secondary public distribution of shares issued by Light S.A., whereby 29,470,480 shares were placed, of which 16,079,135 shares were held by BNDESPar and 13,391,345 shares were held by EDF. The total number of shares sold corresponds to 14.4% of the Companys capital stock. The offering price, determined in the bookbuilding process, was R$24.00, for a total of R$707.3 million. With this operation, the effective free float of shares has increased from 7.7% to 22.1% of the capital stock.

35

Operational Highlights (GWh) Grid Load* Billed Energy - Captive Market Consumption in the concession area 1 Transported Energy - TUSD 1 Sold Energy - Generation Commercializated Energy (Esco) Financial Highlights (R$ MM) Net Revenue EBITDA EBITDA Margin Net Income Net Debt**
* Captive market + losses + network use ** Financial Debt - Cash

2Q09 7,537 4,619 5,228 1,144 1,163 140 1,273 221 17.3% 121 1,647

2Q08 Var. % 8,021 -6.0% 4,529 2.0% 5,211 0.3% 1,302 -12.1% 1,210 -3.9% 118 18.5% 1,298 334 25.8% 389 1,550 -1.9% -34.0% -68.8% 6.3%

1H09 16,356 9,621 10,786 2,323 2,425 252 2,711 570 21.0% 290 1,647

1H08 Var. % 16,737 -2.3% 9,351 2.9% 10,692 0.9% 2,594 -10.4% 2,421 0.2% 250 0.7% 2,613 642 24.6% 492 1,550 3.7% -11.2% -41.1% 6.3%

Light posted consolidated net income of R$121.4 million in 2Q09, compared

to R$388.6 million in 2Q08, which had suffered the effects of a strong provision reversal in the period. Disregarding the recognition of tax credits this quarter, the Income Tax/Social Contribution effect resulting from the dollars depreciation on Light SESAs liabilities with the offshore company LIR in the periods, and the reversion of the provision for VAT taxes (PIS/COFINS) carried out in 2Q08, net income would have been R$93.4 million in this quarter, compared to R$142.8 million in 2Q08. Net income for the first half of 2009 was R$289.7 million.

In the quarter, consolidated net revenue totaled R$1,273.3 million, 1.9%

more than 2Q08. This decrease is mainly the effect of the non-recurring record of R$29.0 million related to the low-income subsidy in 2Q08. Disregarding this, revenue for the quarter is in line with 2Q08. In the first half of 2009, net revenue totaled R$2,710.0 million, a 3.7% increase year-on-year.

Consolidated EBITDA for the quarter was R$220.6 million, 34.0% below
1Q08, mainly as a result of the reduction in the Companys regulatory EBITDA due to the tariff adjustment conducted in November 2008, which is to be expected in the first year of each tariff cycle, when scale gains are fully passed through to consumers, and also of the CCEEs re-recording this quarter of R$25 million in energy purchase referring to 1Q09. Accumulated EBITDA in 1H09 stood at R$570.1 million, 11.2% below 1H08.

The Company closed the quarter with net debt of R$1,647.4 million, up 15.2%
compared to the end of March of 2009. This growth is explained mainly by the decreased cash position due to the April dividend payment in the amount of R$407.9 million. Our Net debt/EBITDA leverage index was 1.2x at quarters end.1
1

To preserve comparability with the market approved by Aneel in the tariff adjustment process, the billed energy and demand of free customers Valesul, CSN and CSA were excluded, in view of these customers planned migration to the core network. In 2Q09, the energy consumption of these customers totaled 395 GWh and their demand was 2,294 GW, compared to a 722 GWh consumption and 2,919 GW demand in 2Q08.

36

Release Segmentation Light S.A. is a holding company with wholly-owned subsidiaries that participate in three business segments: electricity distribution (Light SESA), electricity generation (Light Energia) and electricity trading/services (Light Esco). To increase the transparency of its results and enable investors to make a better evaluation, Light also presents its results by business segment. 2nd Quarter 2008 Results 2Q08 and 1Q08 results were adjusted to reflect the impacts of Law 11,638/07 on the respective results of the periods, pursuant to CVM Resolution 565/08, as well as the reclassification of employee profit sharing (PLR) after the income tax line, thereby no longer being classified as costs and personnel expenses. For further information, see Appendix V of this release.

Operating Performance

Distribution Total energy consumption in Lights concession area (captive customers + billed free customers 2) in 2Q09 was 5,228 GWh, growing 0.3% when compared to the same period in 2008, chiefly due to the growth in captive market consumption. Total consumption in 1H09 was 10,786 GWh, a 0.9% increase year-on-year driven mainly by the significant growth in the residential and
2Q08 Captive Free 2Q09 4,529 2,0% Electric Energy Consumption (GWh)
Total Market (Captive + Free)

5,211 681

0,3%

5,228 609

-10,7%

4,619

commercial markets due to the high temperatures of the first quarter. According to the Energetic Research Enterprise (EPE), this performance surpasses that of the Southeast Region, which decreased by 4.1% year-on-year.

To preserve comparability with the market approved by Aneel in the tariff adjustment process, the billed energy and demand of free customers Valesul, CSN and CSA were excluded, in view of these customers planned migration to the core network. In 2Q09, the energy consumption of these customers totaled 395 GWh and their demand was 2,294 GW, compared to a 722 GWh consumption and 2,919 GW demand in 2Q08.

37

Taking into account the energy consumed by free consumers CSN, Valesul and CSA, consumption in this quarter was 5,623 GWh and 11,652 in 1H09. Captive Customers Despite the economic crisis, consumption 2.0% higher in billed the
2,2% 1,7% 1,821 1,862 -0,1% 459 459 3,1% 1,452 1,477 797 822

Electric Energy Consumption (GWh) nd 2 Quarter

2,0% 4,529 4,619

captive market grew year-on-year, consumption primarily a result of

Residential

Industrial

Commercial 2Q08 2Q09

Others

Total

in the residential and as well as government consumption,

commercial classes which together accounted for 72.3% of the captive market included in other. The increased consumption of these classes was influenced by the higher temperature this year 0.5 C above the 2Q08 average despite the lower number of billing days in the low voltage, 0.8 day. Consumption in the residential segment, which accounted for 40.3% of the captive market in the quarter, grew 2.2% over 2Q08. The number of residential customers rose 1.1% to 3.7 million billed customers with average monthly consumption of 170.0 kWh/month in this quarter, compared to 168.4 kWh/month in the same period of 2008. Commercial segment consumption, which represented 32.0% of the captive market this quarter, grew 1.7% year-on-year. The captive industrial segment, which represented only 9.9% of the captive market, was stable in relation to 2Q08 despite the effects of the economic slowdown on the industrys operations; heavy industry was the most impacted segment. This year, a customer from the chemical industry that consumed an average 10 GWh in 2008 returned from the free to the captive market. In 1H09, the captive markets billed consumption totaled 9,621 GWh, 2.9% more than in 1H08. This growth is primarily a result of the strong performance of the residential and commercial segments, which recorded billed consumption growth of 4.6% and 2.5%, respectively, compared to 1H08, representing a 250.5 GWh increase. This performance allowed the growth of captive market in the period, fully offsetting the 2.0%, or 18.5 GWh, decrease in industrial consumption that was an effect of the economic slowdown.

38

Network Use3
Electric Energy Transportation - GWh Free Customers + Utilities -12.1% 1,302 1,144 -10,7% 681 609 -13.7% 621 535

Billed energy transported to free customers and concessionaires amounted to 1,144 GWh this quarter, 12.1% below 2Q08. This decline was caused by a 10.7% drop in free customer consumptionin particular in the steel industry, which was affected by the international economic crisisin addition to the return to the captive market of a customer that represented a monthly

Free

Utility 2Q08 2Q09

Total

average consumption of approximately 10

GWh in 2008 in 2Q09. The flow of energy supplied to the concessionaires bordering Lights area fell 13.7% between the periods. In 1H09, network use totaled 2,323 GWh, 10.5% below the energy transported in 1H08. The tariff breakdown of free customers is mainly driven by contracted demand; therefore a decline in the volume of transported energy does not significantly affect the revenue originating from these customers. Billed demand for free customers and
Free Utility 2Q08 2Q09 Total -9.2% 2,406 2,183 6.5% 3,656 3,892 Billed Demand (GW) Free Costumers and Utilities 0.2% 6,062 6,075

concessionaries corresponded to 6,075 GW this quarter, unchanged in relation to 2Q08. Free customer demand this quarter decreased by 9.2%

compared to the same period last year, mainly due to the fall in the contracted demand of a major customer from the steel industry. The 6.5% increase in demand from concessionaires offset the decrease in free customer demand. In 1H09, free customer and concessionaire demand totaled 12,217 GW, 2.7% above 1H08 billed demand. The amount presented in GW is related to the annual sum of billed demand each month, considering peak and out of peak periods.

To preserve comparability with the market approved by Aneel in the tariff adjustment process, the billed energy and demand of the free customers Valesul, CSN and CSA were excluded, in view of these customers planned migration to the core network. In 2Q09, the energy consumption of these customers totaled 395GWh and their demand was 2,294 GW, compared to a 722 GWh consumption and 2,919 GW demand in 2Q08.

39

Energy Flow

DISTRIBUTION ENERGETIC BALANCE - GWh

Position: january-june 2009 PROINFA 192.9 CCEAR Light Energia 164.4 ITAIPU (CCEE) 2,791.0 AUCTIONS (CCEE) 6,934.3 NORTE FLU (CCEE) 3,150.1 OTHERS(*) (CCEE) 267.1
(*) Others = Purchase in Spot - Sale in Spot.

Residential 4,024.5 Billed Energy 9,621.1 Industrial 891.8 Commercial 3,059.2 Differences 3,597.0 Others 1,645.7

Own load Light 13,218.2 Required E. (CCEE) 13,499.9

Basic netw. losses Adjustment

274.1 7.6

Energy Balance (GWh) = Grid Load + Energy transported to utilities + Energy transported to free customers = Own Load + Captive market consumption + Differences
*Including CSN, Valesul and CSA

2Q09 7,537 535 931 6,071 4,619 1,452

2Q08 8,021 621 1,416 5,984 4,529 1,454

Var.% -6.0% -13.7% -34.3% 1.5% 2.0% -0.2%

1H09 16,356 1,158 1,980 13,218 9,621 3,597

1H08 16,737 1,253 2,759 12,725 9,351 3,373

Var.% -2.3% -7.6% -28.2% 3.9% 2.9% 6.6%

40

Electric Energy Losses Lights total losses totaled 6,929 GWh, of 21.3% over the grid load, in the 12 months that ended in June of 2009, representing 2008. a 0.44 p.p. losses increase reached compared to the loss index in March of Non-technical 4,874 GWh, growing 0.33 p.p. over the grid load. The index was affected by a
20.56% 14.57% 6,791 Light Losses Evolution 12 months 20.51% 14.44% 6,808 20.42% 14.36% 6,743 20.79% 14.60% 6,885 21.23% 14.93% 6,929 Jun-09

Jun-08

Sep-08

Dec-08

Mar-09

GWh Losses % Losses / Grid Load (Own + Transport) Non-technical losses % Grid Load

decline in consumption of large customers (who did not present non-technical losses), adversely impacting the grid load, which is the denominator of the index. It is also worth pointing out that the loss over grid load index suffers the effect of the grid load reduction. Conventional energy recovery processes, such as the negotiation of amounts owed by customers where fraud was detected, caused energy recovered in 1H09 to increase 51.4% over the same period in the previous year, totaling 75.7 GWh recovered, despite the 5.3% decrease in the number of customers normalized between the periods, suggesting that more significant frauds are being prioritized. Additionally, loss prevention programs generated an energy incorporation of 35.2
Recovered En ergy GW h
75.7 51.4% 50.0

GWh in the first half of the year, a 139.5% increase over the 14.7 GWh incorporated in the same period last year. In June of 2009, Inmetro approved the electronic meter of one of Lights suppliers, whose technology allows centralized metering and remote management of reading, dis- and re-connection processes. This approval is a fundamental step in the progress of the program for lossprevention based on new technologies. Inmetros delay in approving and the conditions required for the centralized metering system caused the initial plan to install 100,000 meters to be scaled back to 20,000. As part of the centralized metering system, the Company continues to invest in network modernization by protecting 175 km of the low voltage network in 1H09, with 850 more km to be protected by years end. In 2008, 120 km were replaced.

1 H08

1H09

Energy I ncorporation GW h
1H0 8

35.2
1 H 09

139.5%

14.7

1 H08

1H09

Light believes that its continuous investment in new

41

metering and network protection technologies will result in sustainable loss reduction. Collection Collection in 2Q09 exceeded 100% of the total billed amount, reaching a rate of 103.4% partly due to the collection overdue of debts from related previous to the
96.5%
Colletion rate R$ MM Billing Collection Collection Tax

2Q09 1,986 2,054 103.4%

2Q08 1,911 1,925 100.7%

1H09 4,162 4,037 97.0%

1H08 3,882 3,833 98.7%

years and also to the payment of invoices beginning of this year. The retail segment, with collection levels above 100%, was fundamental to the recovery of this quarters global rate. In addition to retail, the segment of large customers also rates, including showed reflecting on public high the
2.6%

Collection rate 12 months moving average 98.8% 97.4% 96.6%

Jun-07

Jun-08

Mar-09

Jun-09

agencies collection initiatives the last

PDD/Gross Revenue (Billed Sales) 3.5% 2.9%

success of delinquency-prevention focused 12 both which segments. The collection rate of months, encompasses the economic crisis that began in September 2008,

2Q08

1Q09

2Q09

was 97.4% of billing, 0.8% above the March index. The provision for past due accounts (PDD) constituted in 2Q09 was 3.5% of the gross billed energy or R$66.5 million, a decrease of 0.6 p.p. in relation to 2Q08. The effect of the economic crisis on 1Q09 collection impacted the 2Q09 PDD, since, according to the criteria for constituting a provision in the sector, provisions related to past due accounts from residential customers should be constituted 90
R$ MM PDD 1H08 107.6 1H09 126.4 Variation 18.7

days after the due date. In the first six months of 2009, the PDD was R$18.7 million higher than the 1H08 provision, chiefly resulting from the impact of the crisis on retail collection, primarily in 1Q09. Operating Quality

42

A series of major investments in increasing the reliability of the distribution system the Company began making in 2008 started to show effective results this quarter when quality indicators returned to pre-program levels even with the increase in the number of scheduled disconnectionsnecessary due to the investments made in the network. Thus, disregarding the effect of these disconnections, the equivalent length of interruptions (DEC) index in the first half of the year was 3.75 compared to 4.96 in 1H08, a 24.4% improvement. The equivalent frequency of interruptions (FEC) index fell from 3.29 in 1H08 to 2.69 in 1H09, an 18.24% drop. Investments made since 2008 in important projects like the replacement of the conventional network with space cable (compressed MT network) and installation of remotely commanded keys to reduce interruption times, together with a reduction in planned disconnections, were instrumental to improving our indicators. These investments include improving electricity supply quality, increasing distribution network capacity and protecting the network, and amounted to R$60.7 million in 1H09, compared to R$43.9 million in 1H08. The electrical system maintenance plan began to be monitored by a specific SAP system module, providing better
ELC / EFC - 12 Months management and positively impacting the service continuity.

ELC EFC Jun-09 6.03 6.03 Jun-08

7.81 9.13 7.81 Jun-07

11.35

ELC Equivalent Length of Interruption per Consumption Unit (hs) EFC Equivalent Frequency of Interruption per Consumption Unit (n.)

Generation Energy sold on the Regulated (ACR) and Free Contract (ACL) markets in 2Q09 was 1,013.6 GWh and 120.3 GWh, respectively. In the ACR, the volume of energy sold was 0.8% lower than in the same period in 2008, resulting mainly from the end of the contract for an 11.88 average MW product of the 2006/08 existing energy auction held in 2005, resold in the ACL, which resulted in a 24.2% increase over 2Q08. The lower volume of energy sold on the spot market in 2Q09 was mainly due to the decrease in secondary energy for sale on that market. In 1H09 a total of 2,425.5 GWh was sold, similar to 1H08 figures.
LIGHT ENERGIA (GWh) Regulated Contracting Environment Sales Free Contracting Environment Sales Spot Sales (CCEE) Total 2Q09 1,013.6 120.3 28.9 1,162.9 2Q08 1,021.3 96.9 91.8 1,210.0 % -0.8% 24.2% -68.5% -3.9% 1H09 2,053.2 206.3 166.0 2,425.5 1H08 2,081.2 207.8 132.4 2,421.4 % -1.3% -0.7% 25.4% 0.2%

43

Trading and Services In the second quarter of 2009, Light Esco sold 139.7 GWh directly, an 18.5% increase in trading volume compared to 2Q08. This increase is explained by the greater availability of energy for resale at the trading company due to the expansion of its contract portfolio. In addition to direct sales, Light Esco also continued to provide consulting services and represent free clients before the CCEE. These activities included operations of around 262.0 GWh and 8 clients. In 1H09, Light Esco traded 251.5 GWh, a 0.7% increase in relation to the same period of 2008. This result reflects the increase in traded energy in 2Q09 when compared to 2Q08, offsetting the smaller volume of energy traded in 1Q09. Currently, Light Esco has 55 energy sale customers, 47 of which use the companys trading services and 8 of which use its consulting and contract intermediation (brokerage) services. In June 2008, it had 44 customers. As to the service activity, Light Esco has been developing major projects for setting up service drops, substations, cold water centers and energy efficiency projects for customers such as TV Globo, Fiocruz, and the Academia Brasileira de Letras, among others.

Volume (GWh) Trading Broker Total

2Q09 139.7 262.0 401.7

2Q08 117.9 401.8 519.7

Var. % 18.5% -34.8% -22.7%

1H09 251.5 535.5 787.0

1H08 249.7 723.8 973.5

Var. % 0.7% -26.0% -19.2%

44

Financial Performance

Net Revenue Consolidated Net operating revenue totaled R$1,273.3 million in 2Q09, 1.9% lower than in 2Q08 primarily as a result of the record in 2Q08 of R$29.0 million referring to the lowincome subsidy. Positive contributions to net revenue in the quarter were the increases of 9.8% in the generation segment revenue and of 15.1% in the energy trading operations revenue.
Net Revenue (R$ MM) Distribution Billed consumption Non billed energy Network use (TUSD) Short-Term (Spot) Others Subtotal (a) Generation Generation Sale(ACR+ACL) Short-Term1 Others Subtotal (b) Comercialization Energy Sales Others Subtotal (c) Others and Eliminations (d) Total (a+b+c+d)
(1) Balance of the settlement on the CCEE

2Q09 1,144.3 (47.4) 85.5 7.7 13.5 1,203.5

2Q08 1,142.9 (34.2) 106.1 5.0 15.0 1,234.8

Var. % 0.1% 38.8% -19.4% 52.8% -10.5% -2.5%

1H09 2,387.3 (20.3) 172.6 7.7 26.0 2,573.3

1H08 2,272.9 (41.9) 202.7 6.8 28.2 2,468.8

Var. % 5.0% -51.5% -14.9% 12.1% 4.2%

66.8 5.3 1.3 73.4 16.6 2.5 19.1 (22.7) 1,273.3

62.6 3.2 1.1 66.9 11.7 4.8 16.6 (20.7) 1,297.6

6.7% 65.1% 26.0% 9.8% 41.6% -49.1% 15.1%

131.9 10.5 2.7 145.1 30.1 6.9 37.0 (44.5)

139.5 11.0 2.1 152.6 39.6 6.9 46.5 (54.6) 2,613.3

-5.5% -4.1% 25.2% -4.9% -23.9% -1.0% -20.5%

-1.9%

2,710.9

3.7%

45

Distribution Net distribution revenue was R$1,203.5 million in the quarter, 2.5% below net revenue in 2Q08. This result was mainly impacted by the record of R$29.0 million in 2Q08 referring to the low-income subsidy.
C ommercial 33%

Net Revenue by Class - Captive R$ MM - 2Q09

Others 14%

161 376 106

502

Residential 44%

Disregarding this, revenue this quarter would be in line with that of the same period last year. Despite the growth of nearly 2.0% in captive market consumption, revenue was affected by the fall in energy and demand contracted by free and captive customers in function of the effect of the economic
C ommercial 32%

Industrial 9%

Electric Energy Consumption GWh - Captive 2Q09

Others 18%

822 1,477 459

1,862

Residential 40%

slowdown on their operations. Residential and commercial consumption accounted for 77% of captive market revenue.

Industrial 10%

The distribution companys net revenue in 1H09 totaled R$2,573.3 million, up 4.2% year-on-year chiefly because of strong market growth in 1Q09. It is worth mentioning that, as the market approved by Aneel in the tariff adjustment process did not take into consideration the energy and demand of CSN, Valesul and CSA due to their planned migration to the core network, any variation in the market of these customers will have a neutral effect on the distribution companys total revenue. Given the lower than expected consumption of CSN and Valesul in 1H09, a regulatory asset was formed and distributed among other revenue lines that fully offsets this reduction.

Generation Net revenue in the quarter was R$73.4 million, 9.8% higher than in 2Q08. This increase was mainly due to the adjustment of energy sale contracts for inflation and the re-contracting of part of the energy from the ACR to the ACL for a higher price, offsetting the decrease in the volume sold on the spot market. In 1H09, net revenue was R$145.1 million, 4.9% lower than in 1H08 as a result of the lower secondary energy sales volume on the Free and Regulated Contract markets, which together recorded 1.3% decrease.

46

Trading and Services Net revenue in the quarter was R$19.1 million, up 15.1% over 2Q08. This increase is primarily the result of this quarters 18.5% rise in the volume of trading sales when compared to 2Q08. In 1H09, net revenue decreased 20.5% in comparison to 1H08 chiefly due to the larger allocation of energy in the first quarter of 2008, whereas in 2009 this allocation was bigger in the second quarter. In addition to the effect of the allocated volume, this quarters revenue was also affected by the recorded CCEE average energy price (spot), which fell 64.9% year-on-year. Costs and Expenses Consolidated Consolidated Operating Costs and Expenses In the second quarter of 2009, operating costs and expenses were 8.2% higher than in 2Q08, in particular due to the 13.0% increase in non-manageable distribution costs and expenses. Another factor that had an impact on costs and expenses this quarter was the R$10.1 million provision for the Stock Option Plan, which affected Light S.A.s personnel account; in 2Q08 the provision was
Operating Costs and Expenses (R$ MM) Distribution Generation Comercialization Others and Eliminations Consolidated (%) 6.6% 4.7% 54.5% -49.3% 8.2% 1H09 (2,219.7) (64.7) (30.9) 22.1 (2,293.1) 1H08 (2,087.0) (60.9) (34.8) 52.3 (2,130.4) Var. % 6.4% 6.1% -11.2% -57.8% 7.6%

2Q09 (1,092.6) (31.6) (15.7) 11.1 (1,128.8)

2Q08 (1,025.1) (30.2) (10.2) 21.9 (1,043.5)

concentrated in the 4th quarter.

Distribution In 2Q09, costs and expenses of the energy distribution business grew 6.6% over 2Q08 as shown in the table below. The increase was caused by a 13.0% increase in non-manageable, pass-through costs and expenses in the tariff in spite of an 8.8% decline in manageable costs and expenses.

47

Costs and Expenses (R$ MM) Non-Manageable Costs and Expenses Energy Purchase costs Purchased Energy Formation Energy CVA Costs with charges Charges Formation Charges CVA Amortization CVA Others (Mandatory Costs) Manageable Costs and Expenses PMSO Personnel Material Outsourced Services Others Provisions Depreciation Total Costs and Expenses

2Q09 (816.0) (647.2) (722.2) 74.9 (124.0) (125.2) 1.2 (39.3) (5.5) (276.6) (121.7) (46.2) (3.0) (61.9) (10.6) (85.0) (69.9) (1,092.6)

2Q08 (722.0) (577.2) (562.1) (15.2) (86.6) (131.8) 45.1 (52.5) (5.6) (303.2) (117.9) (43.7) (3.4) (61.4) (9.4) (111.3) (73.9) (1,025.1)

(%) 13.0% 12.1% 28.5% 43.2% -5.0% -97.4% -25.2% -2.1% -8.8% 3.2% 5.7% -11.2% 0.8% 12.9% -23.6% -5.5% 6.6%

1H09 (1,690.8) (1,327.7) (1,457.7) 130.0 (271.4) (286.2) 14.9 (80.6) (11.1) (528.9) (238.4) (93.4) (6.9) (115.2) (22.9) (150.6) (140.0) (2,219.7)

Var. % 1H08 (1,512.0) 11.8% (1,212.7) 9.5% (1,218.2) 19.7% 5.5 2262.9% (218.7) 24.1% (275.6) 3.9% 56.9 -73.9% (70.6) 14.2% (10.0) 11.2% (575.0) -8.0% (241.0) -1.1% (92.2) 1.3% (7.0) -2.3% (119.2) -3.4% (22.5) 2.0% (187.5) -19.7% (146.6) -4.5% (2,087.0) 6.4%

Non-Manageable Costs and Expenses In the second quarter of this year, nonmanageable costs were R$816.0 million, representing a 13.0% growth year-on-year. Energy purchase costs rose 12.1%
3.7% 562 21.7% 33.8% 40.8% 2Q08 AUCTIONS NORTE FLU 43.1% 2Q09 ITAIPU SPOT Purchased Energy - R$ MM 2nd Quarter

722 22.3% 33.1%

1.5%

compared to 2Q08. It is important to point out that R$25 million related to energy purchase expenses referring to 1Q09 was recorded this quarter, due to CCEEs rerecording. Disregarding this amount, energy

purchase costs would be 7.8% higher than the amount recorded in 2Q08 due to the increase in energy costs approved in the latest tariff adjustment. Expenses related to purchased
Purchased Energy - GWh 2nd Quarter 6,507 21.6% 24.3%

energy rose 28.5%, chiefly as a result of : (i) the Itaipu dollar tariff adjustment by approximately 10% in January 2009, combined with the dollars considering 24.3% the appreciation average rates
2.3% 1.2% 6,213

1.6%

23.0% 25.5% 48.1%

52.5%

between the two quarters, (ii) TPP Norte Fluminense (Norte Flu) 26.2%

2Q08 AUCTIONS NORTE FLU ITAIPU

2Q09 PROINFA SPOT

average price increase reflecting the higher compensatory surcharge for gas (gas CVA) impacted by the dollars appreciation, (iii) the approximately 6.4% increase in auction contracts in Nov/08 affected by 6.0% inflation in the period (IPCA - Nov07 to Oct/08) and the introduction of new products in the 1 st and 2nd thermal (T-15)

48

and hydro (H-30) energy auctions, (iv) the 13% increase in charges, and (v) the energy purchase in the 2009 adjustment auction (Mar/09 to Dec/09), whose cost this quarter was R$145.7/MWh. The average purchased energy cost excluding spot purchases increased 21.5% from R$90.7/MWh in 2Q08 to R$110.2/MWh in 2Q09. Charges grew 43.2% in 2Q09 over 2Q08, chiefly due to thermoelectric plant dispatch in 2008 that resulted in increased System Service Charges (ESS) for distribution companies. In 1H09, non-manageable costs and expenses were R$1,690.8 million, increasing 11.8% year-on-year. Energy purchase costs rose 9.5% over 1H08 as the combined effect of approved increased energy purchase costs and the greater volume of purchases this year. Charges increased 24.1% between the periods. Manageable Costs and Expenses Manageable operating costs and expenses (personnel, materials, outsourced services, provisions, depreciation and others) totaled R$276.6 million in 2Q09, an 8.8% drop between the periods. This result is explained mainly by lower provisions, which were 23.6% below 2Q08. Costs and expenses with staff, equipment, services and others (PMSO) amounted to R$121.7 million in the quarter, 3.2% above the R$117.9 million recorded in 2Q08. This result was chiefly due to a 5.7% or R$2.5 million increase in personnel costs and expenses, mainly due to a 5.6% pay raise granted in this years collective bargaining agreement. This quarters provisions (PDD, Provision for Contingencies and Others) fell R$26.3 million chiefly because of provisions constituted in 2Q08 for the low-income subsidy and an increase in Braslights actuarial liabilities in the amounts of R$17.2 million and R$23.9 million, respectively. We provisioned R$66.5 million for past due accounts in 2Q09, representing 3.5% of gross billed energy, versus R$47.4 million or 2.6% of gross billed energy in 2Q08, a reflection of the economic crisis that decreased retail customers ability to pay in the beginning of 2009. From January to June 2009, manageable operating costs and expenses totaled R$528.9 million, an 8.0% drop compared to the same period of 2008.

49

Generation In 2Q09 Light Energias costs and expenses were R$31.6 million, 4.7% higher than in 2Q08, principally due to R$0.8 million increase in other expenses, a reflection of the higher royalties charged for use of water resources, the 4.3% increase in CUSD (distribution system use) costs, and the 11.3% rise (R$0.3 million) in expenses with materials and outsourced services. Expenses in 2Q09 were as follows: CUSD (use of the distribution system, 34.2%), personnel (15.5%), materials and third-party services (10.2%), others and depreciation (40.1%). In 2Q09, the PMSO cost per MWh was R$12.55/MWh, while in 2Q08 this cost was R$11.54/MWh. In 1H09, Light Energias costs and expenses were R$64.7 million, up 6.1% compared to 1H08 chiefly due to the 11.8% and 16.0% increases in CUSD and other expenses, respectively.
Operating Costs and Expenses - R$ MM Personnel Material and Outsourced Services Purchased Energy (CUSD) Depreciation Others (includes provisions) Total 2Q09 (4.9) (3.2) (10.8) (6.1) (6.6) (31.6) 2Q08 (4.8) (2.9) (10.4) (6.3) (5.9) (30.2) (%) 2.6% 11.3% 4.3% -3.1% 12.4% 4.7% 1H09 (8.8) (6.6) (23.3) (12.2) (13.7) (64.7) 1H09 (9.5) (6.2) (20.9) (12.6) (11.8) (60.9) Var. % -6.7% 6.8% 11.8% -3.2% 16.0% 6.1%

50

Trading and Services In 2Q09, costs and expenses totaled R$15.7 million, 54.5% more than in the same period in 2008. This increase was mainly because of the 38.5% increase in the energy purchase cost between the quarters due to the 14.3% increase in the purchased energy volume to fulfill the trading companys new contracts, in addition to the increase in the costs and expenses with materials as a result of expanded energy service projects. In 1H09, costs and expenses totaled R$30.9 million, an 11.2% decline compared to 1H08 that resulted mainly from the 47.1% decrease in energy purchase costs in 1Q09, a reflection of the reduction in the spot price amounts in relation to 1Q08.
Operating Costs and Expenses - R$ MM Personnel Material and Outsourced Services Purchased Energy Depreciation Others (includes provisions) Total 2Q09 (0.4) (2.0) (13.1) (0.2) (0.1) (15.7) 2Q08 (0.5) 0.1 (9.5) (0.2) (0.1) (10.2) (%) -18.5% 38.5% -26.1% -2.2% 54.5% 1H09 (0.9) (4.3) (25.2) (0.3) (0.2) (30.9) 1H08 (0.9) (1.0) (32.3) (0.4) (0.1) (34.8) Var. % -1.4% 324.8% -22.0% -25.9% 21.6% -11.2%

EBITDA Consolidated Consolidated EBITDA dropped 34.0% year-on-year, totaling R$220.6 million in the second quarter of 2009. This result is mainly due to the reduction in the distribution companys EBITDA, a reflection of the November 2008 tariff review process combined with the effects of the crisis over the consumption that particularly affected the demand and consumption of customers from the industrial segment. The consolidated EBITDA margin fell 8.5 p.p. between the periods from 25.8% in 2Q08 to 17.3% this quarter.
EBITDA - 2Q09/2Q08 - R$ mn
334 (96)

EBITDA per segment * 1H09

(25) (20)
Distribution 26 83.3%

221

EBITDA - 2Q08

Net Revenue

Consolidated EBITDA- R$ MM Distribution Generation Commercialization Others and eliminations Total EBITDA Margin (%)

CCEE's reManageable recording Costs (PMSO) 2Q09 2Q08 Var.% 180.8 283.6 -36.3% 47.9 43.0 11.4% 3.5 6.6 -47.1% (11.6) 1.1 220.6 334.3 -34.0% 17.3% 25.8% -

1H09 493.6 92.6 6.4 (22.5) 570.1 21.0%

Generation 15.6% C ommercializati on 1.1% Provisions EBITDA - 2Q09 *Does not consider eliminations

1H08 528.4 104.3 12.1 (2.5) 642.3 24.6%

Var.% -6.6% -11.2% -47.2% 797.1% -11.2% -

51

Distribution The distribution companys EBITDA in 2Q09 totaled R$180.8 million, 36.3% below the same period last year. This result may be explained mainly by: (i) the reduction in the regulatory EBITDA resulting from the latest tariff review, approved in November of 2008 whereby the scale gains obtained during the first cycle (2003 to 2008) are fully passed through to consumers; (ii) the reduction in consumption and demand of free customers, which affected the revenue for the quarter, and (iii) the recording, in this quarter, of R$25 million in energy purchases referring to 1Q09 due to CCEEs re-recording. As a result, the EBITDA margin in 2Q09 was 15.0%, 7.9 p.p. lower than that of 2Q08. In 1H09, EBITDA was R$493.6 million, down 6.6% compared to 1H08, with a 19.2% margin. This reduction is chiefly the result of the lower market in the second quarter and the effect of the tariff review conducted in November 2008. Generation Light Energias EBITDA grew 11.4% year-on-year, totaling R$47.9 million in 2Q09. This increase is primarily a result of the 9.8% increase in net revenue due to the adjustment in the sale price that more than offset the 4.7% rise in expenses. The EBITDA margin this quarter was 65.2%, 1.0 p.p. higher than in 2Q08. In 1H09, EBITDA was R$92.6 million, contracting 11.2% compared to 1H08 as a result of the 4.9% decrease in net revenue, resulting from the decision to allocate a larger volume of energy to the second half, combined with the 6.1% increase in costs and expenses. The EBITDA margin in the first half of the year was 63.8%, down 4.5 p.p. compared to 1H08. Trading and Services EBITDA totaled R$3.5 million this quarter, a decline of 47.1% compared to the R$6.6 million registered in 2Q08. The reduction in the quarter can be explained by the decoupling of the cost of materials necessary to the energy service businesses and the corresponding revenue, as well as the 64.9% drop in the spot price, which negatively affected the trading operations short-term contracts. The EBITDA margin was 18.3% in the quarter, decreasing 21.5 p.p. year-on-year.

52

In 1H09, EBITDA was R$6.4 million, 47.2% below that of 1H08 due to the 20.5% drop in net revenue as a result of both the lower volume traded and the year-onyear decrease in the spot price, despite the 11.2% decrease in costs and expenses. The EBITDA margin in 1H09 was 17.3%, 8.7 p.p. below the one recorded in 1H08.

53

Consolidated Financial Result

Financial Result - R$ MM Financial Revenues Income - financial investments Monetary and Exchange variation Swap Operations Others Financial Revenues Financial Expenses Interest over loans and financing Monetary and Exchange variation Braslight (private pension fund) Swap Operations Others Financial Expenses Subtotal PIS/COFINS Provisions Reversal Total 2Q09 39.3 10.5 9.1 (7.2) 26.9 (50.8) (47.2) 3.8 (11.3) (2.6) 6.4 (11.5) (11.5) 2Q08 95.4 12.5 8.2 74.6 (106.6) (46.1) (11.0) (47.5) (5.6) 3.6 (11.3) 432.4 421.1 (%) -58.8% -16.7% 10.5% -63.9% 52.4% -2.2% 134.7% 76.2% 54.1% -78.0% -2.3% 1H09 85.5 27.9 20.9 (8.3) 45.0 (121.8) (99.1) (10.1) (20.5) (2.6) 10.4 (36.3) (36.3) 1H08 149.4 25.4 26.6 1.6 95.9 (244.6) (100.8) (47.2) (86.3) (8.6) (1.7) (95.2) 432.4 337.1 (%) -42.8% 9.8% -21.3% -53.0% 50.2% 1.7% 78.6% 76.3% 70.3% 732.5% 61.9% -

The financial result in the quarter was a negative R$11.5 million, compared to a positive R$421.1 million in the second quarter of 2008, due to the non-recurring effect of the reversal of provisions referring to the expansion of the PIS/COFINS calculation base that had a positive impact of R$432.2 million on that quarter. Disregarding the effect of that provision reversal, the financial result was in line with that of the same period of 2008, as a combined result of the 58.8% decrease in financial revenues offset by the 52.4% decrease in financial expenses. Financial revenue in the quarter was R$39.3 million, 58.8% below the result recorded in 2Q08. This decline was mainly due to the monetary restatement of the recognition of PIS/COFINS credits on sector charges in 2Q08, affecting the other revenues line, as well as the decrease in interest on energy bills paid in arrears because of the 29.4% reduction in customer installments. The quarters financial expense of R$50.8 million was 52.4% lower than that of 2Q08, primarily due to: (i) the decreased monetary restatement of Braslights 4 liabilities as a result of a lower inflation rate, to which the balance of our debt is indexed. This quarters adjustment index was -0.62% compared to 3.74% in 2Q08; (ii) the smaller update of provisions for contingencies and tax liabilities, with a fall of approximately R$20 million year-on-year; and (iii) the present value adjustment of long-term receivables, in other financial expenses. In 1H09, the financial result was a negative R$36.3 million compared to a positive R$337.1 million in 1H08, once again impacted by the reversal of provisions referring to PIS/COFINS. Financial revenue in 1H09 was R$85.5 million, a result

Until May 2009 these were adjusted according to the IGP-DI variation (with a one month lag) and actuarial interest of 6% p.a. Since June 2009, they have been adjusted according to the IPCA (Extended Consumer Price Index, with a one month lag) as a replacement to the IGP-DI.

54

42.8% lower than that recorded in 1H08, and financial expenses were R$121.8 million, a 50.2% drop compared to the financial expenses recorded in 1H08. Indebtedness

R$ MM Brazilian Currency Debenture 1st Issue Debenture 4th Issue BNDES Rationing Debenture 5th. Issue CCB Bradesco ABN Amro Promissory Notes Financial operations "Swap" Others Foreing Currency National Treasury Import Financing BNDES Import Fin. Gross Debt Cash Net Debt (a) Braslight (b) Net Regulatory Asset (c) Adjusted Net Debt (a+b-c)

Short Term 311.8 16.1 0.0 84.4 63.0 39.2 3.0 101.5 4.6 21.1 16.3 3.6 1.2 333.0

% 14.1% 0.7% 0.0% 3.8% 2.8% 1.8% 0.1% 4.6% 0.2% 1.0% 0.7% 0.2% 0.1% 15.0%

Long Term 1,791.4 0.1 351.1 903.8 450.0 80.0 2.3 4.1 92.7 91.9 0.8 1,884.1

% Total 80.8% 2,103.2 16.1 0.0% 0.1 15.8% 435.5 40.8% 966.7 20.3% 489.2 3.6% 83.0 101.5 0.1% 2.3 0.2% 8.7 4.2% 113.8 4.1% 108.3 0.0% 4.3 1.2 85.0% 2,217.0 569.6 1,647.4 1,006.1 278.6 2,374.9

% 94.9% 0.7% 0.0% 19.6% 43.6% 22.1% 3.7% 4.6% 0.1% 0.4% 5.1% 4.9% 0.2% 0.1% 100.0%

93.5 49.9

912.6 228.7

The Companys gross debt on June 30, 2009 was R$2,217.0 million, up 2.3% compared to the amount on March 31, 2009, as a result of new debt being contracted in the quarter. Compared to the position on June 30, 2008, the Companys gross debt rose 11.3%, corresponding to a variation of R$224.8 million. This growth is mainly the result of $317.0 million in new debt contracted in the last 12 months, whose primary purpose was to finance investment projects. The R$1,647.4 million 2009 and June net debt was respectively,
1,550 Net Debt (ex-Braslight) (R$ million)

15.2% and 6.3% higher than in March 2008,

1,430

1,647

because of the decrease in the cash position that was principally due to a R$407.9 million dividend payment in April 2009. The net debt/EBITDA ratio rose from 0.9x in March 2009 to 1.2x in June 2009. Our debt position continues to be comfortable, with an
93.6% 92.9% 94.9% 6.4% Indebtedness (Brazilian Currency x Foreign) 7.1% 5.1%

Jun-08

Mar-09

Jun-09

Jun-08

Mar-09 Brazilian Currency

Jun-09

55

Foreign Currency

average term to maturity of 4.1 years and reduction of the average cost of dollardenominated debt, which was 1.6 p.p. cheaper than in March 2009 and is now at 10.4% p.a. The average cost of foreign currency debt of US$+5.3% p.a. remained stable when compared to March 2009. At the end of June, only 5.1% of total debt was denominated in foreign currency. After the effect of foreign currency hedging operations, our net exposure is only 3.8% of the total. Our hedge policy consists of protecting the cash flow falling due within the next 24 months (principal and interest) through the use of non-cash swap instruments with premier financial institutions.

Net income Light posted net income of R$121.4 million this quarter, down 68.8% compared to 2Q08. This result is due to the non-recurring record of the write-off of provisions related to the expansion of the PIS/COFINS calculation base in 2Q08, which had a positive effect of R$285.4 million on net income for that period, compared to the recognition of non-recurring tax credits, which had a positive impact of R$118.4 million this quarter, partially offset by the negative effect of the exchange rate variation on Light
388.6

SESAs liabilities with the offshore company LIR, which increased income R$90.4 quarter million and million and in social taxes this 2Q08.
Net Income 2Q08 - Pro forma

285.4

142.8 39.6

-34.6%

93.4

118.4

90.4

121.4

contribution

R$39.6

PIS/COFINS - Net effect net effect offshore exchange rate variation

Net income 2Q08 w /out nonrecurring effects

Net income 2Q09 w/out nonrecurring effects

Tax credits

Net effect offshore exchange rate variation

Net income 2Q09

Disregarding the non-recurring effects of both quarters, net income for 2Q09 would be R$93.4 million, 34.6% lower than in 2Q08, as demonstrated in the graph on the right. Net income in the first half of 2009 to in was the million 1H08.
Net Income 1H08 - Pro forma PIS/COFINS - Net effect net effect offshore exchange rate variation Net income 2Q08 w /out nonrecurring effects Net income 2Q09 w/out nonrecurring effects Tax credits Net effect offshore exchange rate variation Net income 1H09

492.1
6,2%

R$289.7 compared R$492.1 recorded

million,

285.4 44.9

251.6

267.2

118.4

95.9

289.7

56

Disregarding the aforementioned non-recurring effects in both periods, net income in 1H09 would be R$267.2 million, 6.2% higher than in 1H08.

Capital Expenditures In 1Q09, the Company invested R$79.9 projects, development networks and million in of investment the
237.3
9.1 0.0 6.5

CAPEX (R$ MM)

including (new

203.9
17.4

distribution connections,
221.7

1.9 11.8

capacity increases and repairs) quality improvements and

Distribution

172.8

(structural absorbed

optimization R$52.8 million,

1H08 Administration

1H09 Generation Commercial.

preventive maintenance), which and

loss-prevention initiatives totaling R$19.1 million. In the generation segment, investments totaled R$4.3 million, chiefly allocated to maintenance of the existing generation complex. Investments in fixed assets totaled R$250.6 million in 1H09, which includes the financial charges originating from the Companys loans with financial institutions, the accounting effect of monetary restatement of use of public property from the Itaocara Plant, provided in the Plants concession agreement, and materials in inventory that have not yet been activated. Projects for Expansion of the Generation Capacity The second quarter of 2009 saw the following developments in the projects for expansion of Lights generation capacity: The EPC consortiums proposals for the construction of the Paracambi SHPP

were received. These proposals were submitted to the Board of Directors, and the contracting of the winning consortium, comprised of the companies Orteng Equipamentos e Sistemas Ltda. and Construtora Quebec Ltda., was approved at the Board of Directors Meeting of August 7. The projects total cost is approximately R$195 million and construction is slated to begin in September, with commercial operations expected to begin in August of 2011.

57

The Consortium with CEMIG for the construction of the Paracambi SHPP is

being turned into an SPE (Special Purpose Entity), in view of the requirements of the Brazilian Development Bank (BNDES) to grant Project Finance loans for a project. Bids have been requested to choose the company that will build the supply

system for the Lajes SHPP, and construction is expected to start at the beginning of September. In addition to these projects, the Company is considering participation in other generation projects, which together ensure the increase of installed generation capacity by at least 50%.

Cash Flow
R$ M M Cash in the B eginning of the P eriod (1) N et I ncom e Provision for Delinquency Depreciation and Amortization Net Interests and Monetary Variations Braslight Atualization / provisions reversal Others N et I ncom e Cash B asis Working Capital Regulatories (RTE, CVA e Bubble) Contingencies Taxes Others Cash from Operating A ctivities (2) Dividends Payment Finance Obtained Debt Service and Amortization Financing Activities (3) Share Participations Concession Investments Assets Alienation Investm ent A ctivities (4) Cash in the End of the P eriod (1+2+3+4 ) Cash Generation (2+3 +4) 2Q09 736.3 121.4 66.5 76.1 45.9 11.3 18.4 (54.8) 284.8 37.2 68.7 (34.9) 28.9 (25.7) 359.0 (407.9) 101.3 (91.4) (398.0) (128.9) 1.2 (127.7) 5 69.6 (166.6) 2Q08 394.3 388.6 47.4 80.3 40.6 71.4 (386.9) 200.0 441.4 (86.9) 27.6 (16.8) (273.1) 103.3 195.5 75.4 (73.1) 2.3 (149.4) (149.4) 4 42.6 4 8.3 1H09 590.1 289.7 126.5 152.4 88.7 20.5 23.5 11.0 712.4 (110.7) 89.4 (52.1) 57.2 (38.6) 657.6 (407.9) 123.9 (161.6) (445.5) (239.5) 6.9 (232.6) 569.6 (20.5 )

In

2Q09, Lights cash generation was a negative R$166.6 million, primarily as a result of the R$407.9 million dividend payment made in April. Cash generation before the dividend payment was R$241.2 million in the quarter, R$192.9 million more than that of 2Q08. This result is chiefly due to the increase in cash generated by operations, mainly explained by: (i) the decrease in taxes, which had a negative impact in 2Q08 due to the activation of PIS/COFINS credits related to charges, against the positive impact this quarter resulting from the higher provision for taxes (an effect of the

58

dollars depreciation on Light SESAs debt with LIR); and (ii) the positive R$37.2 million working capital, mainly due to this quarters high collection index which exceeded the 100% mark. In financing activities, the negative result is due to the payment of dividends in April, whereas in 2Q08 no dividends were paid. The net result of financing obtained and debt service remained stable year-on-year. Net cash used in investing activities in the quarter was 13.8% below that of the same period of 2008. This decrease is explained mainly by the delayed investments in the loss-prevention program, which should be expedited over the year. Corporate Governance and the Capital Markets On June 30, 2009, the capital stock of Light S.A. was comprised of 203,934,060 common shares with no par value. The controlling group, Rio Minas Energia (RME), retains 52.1% of the capital stock.
Countrys biggest individual electricity distributor

Andrade Gutierrez Groups division that invests in public services concession

Brazilian private investors group (includes Brasligt)

Holding that controls CEMAR.

Companhia Energ tica de Minas Gerais

CEMIG

AGC
Andrade Gutierrez Concesses

LUCE
LUCE do Brasil Fundo de Investimento em Participa es

EQUATORIAL
Equatorial Energia

25%

25%

25%

25%

RME
Rio Minas Energia Participa es S.A.

Free 33.6%

Float

: 47.9%

52.1%

BNDESPAR

LIGHT S.A.
14.3%

MARKET

On July 14, 2009 the Company published the notice of commencement of its secondary public distribution of shares issued by Light S.A., whereby 29,470,480 shares were placed, of which 16,079,135 shares were held by BNDESPar and 13,391,345 shares were held by EDF. The total number of shares sold corresponds to 14.4% of the Companys capital stock. The offering price, determined in the bookbuilding process, was R$24.00, for a total of R$707.3 million.

59

With this operation, the effective free float of shares has increased from 7.7% to 22.1% of the capital stock, giving greater liquidity to shares. The table below shows the Companys ownership structure before and after the offer.
june 30th 2009 number of shares % 106,304,597 52.1% 68,555,918 33.6% 13,391,345 6.6% 15,682,200 7.7% 203,934,060 Post Offering number of shares % 106,304,597 52.1% 52,476,783 25.7% 45,152,680 22.1% 203,934,060

Shareholders RME (Controlling Shareholder) BNDESPar EDF Market Total

The Company's shares have been listed on Bovespa's Novo Mercado since July of 2005, adhering to the best corporate governance practices and the principles of transparency and equity, in addition to granting special rights to minority shareholders. Light S.A.s shares are listed on the Ibovespa, Itag, IGC, IEE, IBrX and ISE indexes. Lights Board of Directors is composed of 11 members, 2 of whom are elected independently. The following five committees support the Board of Directors: Finance, Management, Audit, Human Resources, and Governance and Sustainability. The first payment of dividends approved at the Annual and Extraordinary General Meeting held on March 18, 2009, in the amount of R$2.00 per share, was paid on April 2, 2009. The second payment, in the amount of R$0.45 per share, is scheduled for November 27, 2009. In the Extraordinary General Meeting held on July 9, 2009, Mr. Carlos Roberto Teixeira Junger was elected to the position of sitting member and Mr. Ricardo Simonsen to the position of alternate member of the Companys Board of Directors. These members will remain in office until the Annual General Meeting that approves the accounts of the year to end on December 31, 2009. In the Board of Directors meeting held on July 17, 2009, Mr. Gustavo Csar de Alencar was elected to the position of Network Officer for the same term of office as the Companys other executive officers elected at the Board of Directors Meeting held on August 10, 2006, with duties and responsibilities in relation to the following issues: (i) operation and maintenance of the electricity network in any voltage,

60

except for those of Light Energia; (ii) planning, engineering and expansion of the distribution system; and (iii) automation, protection and metering systems. The new duties and responsibilities of the Chief Operations and Customers Officer are related to: (i) customer service: (ii) billing; (iii) collection; (iv) energy recovery; (v) services; (vi) energy purchase; (vii) market projection; (viii) sale of energy on the free market; and (ix) coordination of the operational activities of the company and its subsidiaries.
BOVESPA (spot market) - LIGT3 Daily Average Number of shares traded (Million) Number of Transactions Traded Volume (R$ Million) Quotation per lot of 1000 shares: Share Valuing IEE Valuing Ibovespa Valuing

At

2Q09 286.26 691 $6.9 $26.95 21.5% 22.1% 25.8%

1Q09 240.59 557 $5.8 $22.18 11.9% 9.4% 9.0%

2Q08 222.14 348 $5.5 $19.18 3.7% 13.7% 6.6%

the

end of the quarter, Lights has appreciated 21.5%, with an average daily trading
Note: shares quotations are dividends adjusted. volume of R$6.9 million. The IEE (Bovespas Electric Power Index) was up 22.1% in

the same period, in step with Ibovespas 25.8% appreciation. The graph below
Light x Ibovespa x IEE
08/10/06 = 100 until 07/31/09

260 240 220 200 180 160 140 120 100 80

R$/share 08/10/06 07/31/09

11.67 24.30

2008 IEE -12% IBOV -41% LIGT3 -14%

2009 IEE 37% IBOV 46% LIGT3 23%

108% Light

76% IEE 47% Ibovespa

shows the performance of Lights stock since RME took control on August 10, 2006.

Recent Events

notice of commencement of its secondary public distribution of shares issued by Light S.A., whereby 29,470,480 shares were placed, corresponding to 14.4% of the Companys capital stock. The offering price, determined in the bookbuilding

Au Seg-0 6 O p-0 N ct-06 o D v-06 ec 6 Ja -0 6 Fen-0 b- 7 M 0 a 7 A r-0 M pr-07 a 7 Ju y-0 n 7 J -0 Auul-07 Seg-07 7 O p-0 ct 7 N -0 o D v-07 ec 7 Ja -0 7 Fen-0 M b-08 a 8 Apr-0 M r-08 a 8 Ju y-0 n 8 J -0 Auul-08 Seg-08 8 O p-0 N ct-08 o D v-08 ec 8 Ja -0 8 Fen-0 b- 9 M 0 a 9 A r-0 M pr-09 a 9 Ju y-0 n 9 Ju -09 l-0 9

Secondary Offering of Shares: On July 14, 2009 the Company published the

61

process, was R$24.00, for a total of R$707.3 million. With this operation, the effective free float of shares increased to 22.1% of the capital stock.

6th Issue of Debentures: At the end of July 2009, Light SESA concluded its 6 th

issue of simple debentures, not convertible into shares. The issued totaled R$300 million, remunerated at 115% of the CDI rate as determined in the bookbuilding process, compared to the initial expected remuneration of 133% of the CDI rate. The debentures were issued on June 1, 2009 and will be amortized in a single installment on June 1, 2011. The purpose of the issue was the early redemption of Light SESAs 1st issue of promissory notes in the amount of R$110 million, in addition to reinforcing the Companys working capital.

Credit Rating: Light SESAs corporate credit rating was raised by Standard &

Poors to brA+ and was included in Moodys Latin America credit coverage with an Aa2.br rating.

ABRADEE Award: Last July, Light SESA won the 2009 ABRADEE Award in the

Performance Evolution category. This award acknowledges the company with the highest ratio between the total score in the general category in the reference year and the weighted average of the total score in the general category in the last three editions of the award nationally. The evaluation criteria are: Customer Evaluation, Operational Management, Economic-Financial Management, Management Quality and Social Responsibility. This award shows that Light has grown in every aspect and in a balanced way, reflecting the Companys focus on sustainability that emphasizes both socio-environmental and economic-financial issues. New Department: At the Board of Directors Meeting held on July 17, 2009, a new department was created the Network Department with duties and responsibilities over the following issues: (i) operation and maintenance of the electricity network in any voltage, except for those of Light Energia; (ii) planning, engineering and expansion of the distribution system; and (iii) automation, protection and metering systems, which were previously exercised by the Chief Operations and Customers Officer. Contracting of EPC for construction of Paracambi PCH: at the Board of Directors Meeting held on August 7, the contracting of a consortium for construction of the Paracambi PCH was approved. The projects total cost is approximately R$195 million and construction is slated to begin in September with commercial operations expected to begin in August of 2011. Disclosure Program

62

Schedule Teleconference 08/12/2009, wednesday, at 10:00 a.m. (Braslia) and at 9:00 a.m. (Eastern time), with simultaneous translation to English Access conditions: Webcast: link on site www.light.com.br (portuguese and english) Conference Call - Dial number: Brazil: (55) 11 - 2188 0188 USA: +1 866 890 2584 Other countries: +1 646 843 6045 Access code: Light Disclaimer
The information on the Companys operations and its Managements expectations regarding its future performance was not revised by independent auditors. Forward-looking statements are subject to risks and uncertainties. These statements are based on the beliefs and assumptions of our Management and on information currently available to the Company. Statements about future events include information about our intentions, beliefs or current expectations, as well as those of the Company's Board of Directors and Officers. Reservations related to statements and information about the future also include information about operating results, likely or presumed, as well as statements that are preceded by, followed by, or including words such as "believes," "might," "will," "continues," "expects," "estimates," "intends," "anticipates," or similar expressions. Statements and information about the future are not a guarantee of performance. They involve risks, uncertainties and assumptions because they refer to future events, thus depending on circumstances that may or may not occur. Future results and creation of value to shareholders might significantly differ from those expressed or suggested by forward-looking statements. Many of the factors that will determine these results and values are beyond LIGHT S.A.'s control or forecast capacity.

63

APPENDIX I Statement of Income by Company - R$ million

LIGHT SESA Operating Revenue Deductions from the operating revenue Net operating revenue Operating expense Operating result EBITDA Equity equivalence Financial Result Other Operating Incomes Other Operating Expenses Result before taxes and interest Net Income EBITDA Margin LIGHT ENERGIA Operating Revenue Deductions from the operating revenue Net operating revenue Operating expense Operating result EBITDA Equity equivalence Financial Result Other Operating Incomes Other Operating Expenses Result before taxes and interest Net Income EBITDA Margin 2Q09 1,981.2 (777.7) 1,203.5 (1,092.6) 110.9 180.8 (16.4) 1.6 (4.3) 91.8 99.4 15.0% 2Q09 83.1 (9.7) 73.4 (31.6) 41.8 47.9 4.7 0.4 46.9 31.4 65.2% 2Q081 1,961.5 (726.7) 1,234.8 (1,025.1) 209.7 283.6 423.9 (0.3) (5.4) 627.9 361.5 23.0% 2Q08 76.4 (9.5) 66.9 (30.2) 36.7 43.0 (3.0) 33.7 22.5 64.3% % 1.0% 7.0% -2.5% 6.6% -47.1% -36.3% -103.9% -19.9% -85.4% -72.5% % 8.8% 1.7% 9.8% 4.7% 13.9% 11.4% -256.7% 39.0% 39.2% 1H09 4,223.7 (1,650.4) 2,573.3 (2,219.7) 353.6 493.6 (36.1) 7.7 (5.1) 320.0 254.8 19.2% 1H09 165.5 (20.4) 145.1 (64.7) 80.5 92.6 (1.4) 0.4 79.4 52.4 63.8% 1H081 3,932.9 (1,464.1) 2,468.8 (2,087.0) 381.8 528.4 350.1 16.5 (4.3) 744.1 435.6 21.4% 1H08 174.0 (21.4) 152.6 (60.9) 91.7 104.3 (13.5) 78.2 51.4 68.3% 1H08 55.9 (9.4) 46.5 (34.8) 11.7 12.1 0.4 12.1 7.3 26.1% % 7.4% 12.7% 4.2% 6.4% -7.4% -6.6% -53.6% 19.3% -57.0% -41.5% % -4.9% -4.6% -4.9% 6.1% -12.3% -11.2% -89.6% 1.5% 2.0% % -17.8% -4.6% -20.5% -11.2% -47.9% -47.2% 0.3% -46.4% -43.3% -

LIGHT ESCO 2Q09 2Q08 % 1H09 23.3 20.3 15.2% 45.9 Operating Revenue (4.3) (3.7) 15.6% (8.9) Deductions from the operating revenue 19.1 16.6 15.1% 37.0 Net operating revenue (15.7) (10.2) 54.5% (30.9) Operating expense 3.3 6.4 6.1 Operating result -47.7% 3.5 6.6 6.4 EBITDA -47.1% Equity equivalence 0.2 0.2 0.4 Financial Result 12.5% Other Operating Incomes Other Operating Expenses 3.5 6.6 6.5 Result before taxes and interest -46.7% 2.3 4.2 4.1 Net Income -46.4% 18.3% 39.8% 17.3% EBITDA Margin 1 Figures are presented pro forma as explained on exhibit V, where the adjustments are detailed

64

APPENDIX II Statement of Consolidated Income

Consolidated - R$ MM OPERATING REVENUE DEDUCTIONS FROM THE REVENUE NET OPERATING REVENUE OPERATING EXPENSE Personnel Material Outsourced Services Purchased Energy Depreciation Provisions Others OPERATING RESULT() EBITDA () EQUITY EQUIVALENCE FINANCIAL RESULT Financial Income Financial Expenses Other Operating Incomes Other Operating Expenses RESULT BEFORE TAXES AND INTEREST SOCIAL CONTRIBUTIONS & INCOME TAX DEFERRED INCOME TAX PLR NET INCOME (11.5) 39.3 (50.8) 1.9 (4.3) 130.6 (74.0) 71.7 (6.9) 121.4 421.1 95.4 325.7 (0.3) (5.4) 669.5 (82.8) (193.8) (4.3) 388.6 -102.7% -58.8% -115.6% -756.0% -19.9% -80.5% -10.6% 58.8% -68.8% (36.3) 85.5 (121.8) 8.0 (5.1) 384.3 (107.6) 27.1 (14.1) 289.7 337.1 149.4 187.7 16.5 (4.3) 832.3 -110.8% -42.8% -164.9% -51.4% 19.3% -53.8% 1Q09 2,064.9 (791.6) 1,273.3 (1,128.8) (62.7) (6.5) (63.9) (811.9) (76.1) (85.0) (22.8) 144.5 220.6 1Q08 2,037.5 (739.9) 1,297.6 (1,043.5) (49.9) (3.6) (64.4) (715.6) (80.3) (111.3) (18.5) 254.0 334.3 % 1.3% 7.0% -1.9% 8.2% 25.7% 80.6% -0.7% 13.5% -5.3% -23.6% 23.0% -43.1% -34.0% 1H09 4,390.6 (1,679.7) 2,710.9 (2,293.1) (124.8) (10.9) (122.7) (1,683.8) (152.4) (150.6) (47.9) 417.7 570.1 1H08 4,108.1 (1,494.8) 2,613.3 (2,130.4) (103.9) (7.5) (126.7) (1,500.8) (159.4) (187.5) (44.7) 482.9 642.3 % 6.9% 12.4% 3.7% 7.6% 20.0% 46.0% -3.1% 12.2% -4.4% -19.7% 7.2% -13.5% -11.2%

(145.8) -26.2% (182.3) -114.8% (12.2) 15.5% 492.1 -41.1%

() Operation Result, Administration vision = Operating Result, accounting norms (Item 1.9.7 of Notice CVM 01/2007) + financials (net financial expenses + equity pick-up) () EBITDA = Operating Result, Administration vision + depreciation and amortization. Not reviewable by the external audit

65

APPENDIX III Consolidated Balance Sheet

Consolidated Balance Sheet - R$ MM ASSETS Circulating Cash & Cash Equivalents Credits Inventories Others Non Circulating Realizable in the Long Term Miscellaneous Credits Others Investments Net Fixed Assets Intangible Deferred Charges Total Assets LIABILITIES Circulating Loans and Financing Debentures Suppliers Taxes, Fees and Contributions Dividends to pay Provisions Others Non Circulating Long-Term Liabilities Loans and Financing Debentures Provisions Others Outcome of future performance Net Assets Realized Joint Stock Capital Reserve Legal Reserve Profits Retention Accumulated Profit/Loss of Exercise Total Liabilities

6/30/2009 2,851.0 569.6 2,102.9 20.0 158.4 6,347.1 1,906.4 1,449.6 456.8 18.8 4,150.7 271.2 0.0 9,198.1 6/30/2009 1,738.0 253.9 79.0 469.0 178.1 91.8 162.1 503.9 4,346.7 4,346.7 980.3 903.8 1,014.5 1,448.0 3,113.5 2,225.8 42.5 103.8 451.7 289.7 9,198.1

3/31/2009 3,332.1 736.3 2,277.0 19.9 298.9 6,198.8 1,806.2 1,381.7 424.5 18.6 4,097.2 276.8 0.0 9,530.9 3/31/2009 2,117.9 115.3 46.0 550.0 145.5 499.6 174.6 586.8 4,431.1 4,431.1 1,024.1 920.9 1,010.2 1,475.8 2,982.0 2,225.8 32.4 103.8 451.7 168.3 9,530.9

66

APPENDIX IV Regulatory Assets and Liabilities

REGULATORY ASSETS R$ MM Customers, Concessionaires and Permissionaires Tariff Readjustment Despesas Pagas Antecipadamente CVA Other Regulatories Part A Total REGULATORY LIABILITIES R$ MM Regulatory Liabilities Part A CVA Other Regulatories Total TOTAL (71.6) (16.2) (49.6) (5.8) (71.6) 49.9 (105.9) (94.9) (11.0) (105.9) 167.5 (1.0) (1.0) (1.0) 228.7 (1.3) (1.3) (1.3) 215.1 Short Term 6/30/2009 3/31/2009 36.6 52.5 36.6 52.5 84.8 220.9 75.5 146.1 9.3 18.0 56.8 121.5 273.5 Long Term 6/30/2009 3/31/2009 229.7 216.4 229.7 216.4 229.7 216.4

Light Figures
OPERATING INDICATORS N of Consumers (thousands) N of Employees Average distribution tariff - R$/MWh Average distribution tariff - R$/MWh (w/out taxes) Average energy purchase cost R$/MWh Generation Capacity (MW) Assured Energy (MW) Net Generation (GWh) Charge Factor Includes net energy purchase/sell in the spot market 2Q09 3,946 3,734 411.9 282.9 110.2 855 537 1,309 65.7% 2Q08 3,901 3,812 395.8 268.0 90.3 855 537 1,287 66.0% Var. % 1.1% -2.0% 4.0% 5.6% 22.1% 1.7% -

67

APPENDIX V

According to CVM Rule 506, 2Q08 and 1Q08 results are being re-presented to reflect the impacts of Law 11,638/07 for comparability with 2Q09 and 1Q09 information. We are also presenting 2Q08 and 1H08 results with the reclassification of the costs and expenses referring to the employee profit sharing program (PLR) after determination of income tax. The reconciliation is as follows:

Light S.A. (R$ million)

Published 2Q08 Operating Revenue Operating Revenue Deductions Net Operating Revenue Operating Expenses Operating Result EBITDA Financial Result Revenues Expenses Total Others Operating Revenues Others Operating Expenses Result before taxes IR/CS + Deferred PLR - Participations Net Income 385.3 2,037.5 (739.9) 1,297.6 (1,052.8) 244.7 327.2

Reclassification PLR

Adjust Law 11.638/07

Pro Forma 2Q08 2,037.5 (739.9) 1,297.6

4.3

5.0

(1,043.5) 254.0 334.3

95.4 325.7 421.1 (0.3) (5.4) 660.2 (274.8) (4.3) (1.7)

95.4 325.7 421.1 (0.3) (5.4) 669.5 (276.5) (4.3) 388.6

68

Published 1H08 Operating Revenue Operating Revenue Deductions Net Operating Revenue Operating Expenses Operating Result EBITDA Financial Result Revenues Expenses Total Others Operating Revenues Others Operating Expenses Result before taxes IR/CS + Deferred PLR - Participations Net Income 489.4 4,108.1 (1,494.8) 2,613.3 (2,146.7) 466.6 631.2

Reclassification PLR

Adjust Law 11.638/07

Pro Forma 1H08 4,108.1 (1,494.8) 2,613.3

12.2

4.1

(2,130.4) 482.9 642.3

149.4 187.7 337.1 16.5 (4.3) 816.0 (326.6) (12.2) (1.4)

149.4 187.7 337.1 16.5 (4.3) 832.3 (328.0) (12.2) 492.1

69

Light S.A.

Report of independent auditors on special review of the Quarterly Financial Information (ITR) Quarter ended June 30, 2009
(A translation of the original report in Portuguese, as filed with the Brazilian Securities and Exchange Commission (CVM ) containing quarterly information prepared in accordance with the regulations issued by the CVM)

35

Review Report of Independent Auditors

(A translation of the original report in Portuguese, as filed with the Brazilian Securities and Exchange Commission (CVM) containing quarterly information prepared in accordance with the regulations issued by the CVM) To the Board of Directors and Shareholders of
Light S.A. Rio de Janeiro - RJ

1. We have reviewed the accounting information included in Quarterly Financial Information - ITR - of Light S.A. and the consolidated Quarterly Financial Information of this Company and its subsidiaries for the quarter ended June 30, 2009, comprising the balance sheet, the statements of income, of changes in shareholders equity and of cash flows, the performance report, and explanatory notes, prepared under the responsibility of the Companys management. 2. Our review was performed in accordance with the review standards established by the IBRACON - Brazilian Institute of Independent Auditors and the Federal Council of Accountancy - CFC, which comprised, mainly: (a) inquiries and discussions with the persons responsible for the Accounting, Financial and Operational areas of the Company and its subsidiaries, as to the main criteria adopted in the preparation of the Quarterly Financial Information; and (b) reviewing information and subsequent events that have or may have material effects on the financial situation and operations of the Company and its subsidiaries. 3. Based on our review, we are not aware of any material changes that should be made to the accounting information contained in the Quarterly Financial Information aforementioned for it to be in accordance with the accounting practices adopted in Brazil and the standards issued by the Brazilian Securities and Exchange Commission - CVM applicable to the preparation of the Quarterly Information. 4. As described in Note 2, as a result of the changes to the accounting practices adopted in Brazil in 2008, the statements of income and of cash flows for the first quarter ended June 30, 2008, presented for comparison purposes, were adjusted and are being re-presented, as

36

provided for by NPC 12 - Accounting Practices, Changes in Accounting Estimates and Error Correction, approved by CVM Resolution 506. 5. The financial statements of Fundao de Seguridade Social Braslight for the four-month period ended April 30, 2009, were examined by other independent auditors whose opinion, dated June 2, 2009, includes an emphasis paragraph regarding the balance of R$133,520 thousand related to tax credits arising from the Entitys tax court case which was successful in obtaining a final and non-appeasable decision, which, according to the Managements forecast, will allow them to utilize these credits to offset taxes payable in future years. The future realization of the credits is subject to the completion of the offset process with the Federal Tax Authority (Secretaria da Receita Federal), which the Entity suspended in September 2005. If the Entity does not complete the offset process, they may eventually record a provision for this asset. This asset, which guarantees the Entitys actuarial reserves, was deducted from calculation of the subsidiaries actuarial deficit, as required by Resolution n 371/00 of the Brazilian Securities and Exchange Commission - CVM. Consequently, in the event that a provision is recorded for this amount, Companys liability may be proportionally adjusted. 6. As mentioned in Note 30, due to the second periodical review of tariffs of the subsidiary Light Servios de Eletricidade S.A. as set forth in the concession agreement, the National Regulatory Electricity Agency - ANEEL temporarily ratified the subsidiarys tariff repositioning on 1.96%, to be applied during the period beginning November 7, 2008. Considering the 2.30% interest on sales, the tariffs impact reaches 4.27%. Additional changes that may result from the final review, if any, will be reflected in the equity and financial position of the Company and its subsidiary in the following periods.

August 7, 2009

KPMG Auditores Independentes CRC SP-14428/O-6 F-RJ

Vnia Andrade de Souza Accountant CRC RJ-057497-O-2

37

(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

June 30, 2009

Brazilian Corporation Law

03.378.521/0001-75

LIGHT S.A. BALANCE SHEETS ON JUNE 30, 2009 (In thousands of reais)
ASSETS Parent Company 30/6/2009 31/3/2009 3.632 660 91.770 47 136 96.245 3.110.703 3.327 633 499.638 91 182 503.871 2.979.189 Consolidated 30/6/2009 31/3/2009 569.637 1.306.261 716.982 20.024 2.320 77.380 91.195 67.228 2.851.027 6.347.099 736.273 1.495.599 706.820 19.877 6.302 68.291 224.772 74.165 3.332.099 6.198.796

Notes CURRENT Cash and Cash Equivalents Consumers, concessionaires and permissionaires Recoverable Taxes Inventories Receivables from swap transactions Dividends receivable Services Prepaid expenses Other receivables 4 5 6 27

7 8

NON-C URREN T ASSETS LONG-TERM ASSETS Consumers, concessionaires and permissionaires Recoverable Taxes Receivables from swap transactions Escrow deposits Prepaid expenses Other receivables

5 6 27 7 8

151 151 3.110.552 3.206.948

121 121 2.979.068 3.483.060

306.097 1.143.478 208.575 239.504 8.728 1.906.382 18.807 4.150.722 271.188 9.198.126

297.458 1.080.068 4.189 196.587 220.019 7.870 1.806.191 18.640 4.097.180 276.785 9.530.895

Investme nts Property, Plant and Equipment Intangible assets Deferred charges

9 10 11

35

(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

June 30, 2009

Brazilian Corporation Law

03.378.521/0001-75

LIGHT S.A. BALANCE SHEETS ON JUNE 30, 2009 (In thousands of reais)
LIABILITIES Parent Company 30/6/2009 31/3/2009 Consolidated 30/6/2009 31/3/2009

Notes CURRENT Suppliers Payroll Taxes Loans, financing and financial charges Debentures and financial charges Dividends Payable Estimated Liabilities Regulatory charges - consumer contributions Provision for contingencies Pension plan and other employee benefits Other Liabilities

12 6 13 14

15 16 18 17

70 28 42 91.770 134 1.427 93.471 -

167 4 5 499.638 26 1.251 501.091 -

469.005 2.264 178.146 253.945 79.028 91.770 49.038 110.870 2.237 93.469 408.212 1.737.984 4.346.665

550.002 1.845 145.489 152.020 69.413 499.638 63.634 108.727 2.237 93.780 431.081 2.117.866 4.431.060

NON-CURRENT LIABILITIES LONG-TERM LIABILITIES Suppliers Loans, financing and financial charges Debentures and financial charges Taxes Provision for contingencies Pension plan and other employee benefits Other Liabilities

12 13 14 6 16 18 17

980.340 903.848 330.434 1.014.479 912.649 204.915 4.346.665 -

1.024.129 920.911 327.842 1.010.231 924.219 223.728 4.431.060 -

DEFERRED INCOME SHAREHOLDERS' EQUITY Capital stock Profits reserve Capital reserve Retained earnings (accumulated losses)

20 20 31

2.225.822 555.426 42.504 289.725 3.113.477 3.206.948

2.225.819 555.426 32.436 168.288 2.981.969 3.483.060

2.225.822 555.426 42.504 289.725 3.113.477 9.198.126

2.225.819 555.426 32.436 168.288 2.981.969 9.530.895

36

(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS
LIGHT S.A. STATEMENT OF INCOME FOR THE PERIOD ENDED JUNE 30, 2009 AND 2008 (In thousands of reais)
Parent C ompany Notes OPERATING INCOME Electric Power Supply Electric Power Supply Other Revenues Deductions from operating revenues ICMS Consumer Charges PIS/COFINS Other 21 21 22 4/1/2009 to 6/30/2009 Parent Company 1/1/2009 to 6/30/2009 Parent Company 4/1/2008 to 6/30/2008 Parent Company 1/1/2008 to 6/30/2008 -

June 30, 2009

Brazilian Corporation Law

LIGHT S.A.

03.378.521/0001-75

23

NET OPERATING REVENUE ELECTRIC POWER COST Electric Power Purchased for Resale OPERATION AL COST Personnel Material Outsourced servic es Allowances Depreciation and amortization Other 25

24 24 24 24 24 24

GROSS OPERATING PROFIT OPERATING EXPENSES Selling General and administrative 24 24

(11.623) (11.623) 133.012

(22.466) (22.466) 311.336

(1.339) (1.339) 404.639

(2.373) (2.373) 509.076 -

EQUITY ACCOUNTING FINANCIAL REVENUES (EXPENSES) Revenues Expenses 26 26

268 (218) 50

1.103 (241) 862

36 36

97 (1) 96

OTHER OPERA TING REVENUES (EXPENSES) Revenues Expenses OPERATING INCOME Non-operating income Non-operating expenses NON-OPERATING INCOME INCOME BEFORE TAXES AND INTEREST Income tax and social contribution PR OFIT/(LOSS) BEFORE INTEREST Interest INCOME/(LOSS) FOR THE YEAR Income/(Loss) per share - R$ No. of shares 6 121.439 (2) 121.437 0,59547 203.934.060 289.732 (7) 289.725 1,42068 203.934.060 403.336 403.336 1,98236 203.462.739 506.799 506.799 2,49087 203.462.739 121.439 121.439 289.732 289.732 403.336 403.336 506.799 506.799

37

(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS
LIGHT S.A. STATEMENT OF INCOME FOR THE PERIOD ENDED JUNE 30, 2009 AND 2008 (In thousands of reais)
Con solidated 4/1/2009 to 6/30/2009 Notes OPERATING INCOME Electric Power S upply Electric Power S upply Other Revenues Deductions from operating revenues ICMS Consumer Charges PIS/COFINS Other 21 21 22 1.832.084 94.746 138.086 2.064.916 (508.127) (186.252) (96.833) (406) (791.618) NET OPERATING REVENUE ELECTRIC POWER COST Electric Power P urchased for Resale OPERATION AL COST Personnel Material Outsourced servic es Allowances Depreciation and amortization Other 25 (811.854) (811.854) 24 24 24 24 24 24 (46.045) (5.299) (27.984) (67.177) (4.274) (150.779) GROSS OPERATING PROFIT OPERATING EXPEN SES Selli ng General and administrative EQUITY ACCOUNTING FINANCIAL REVENU ES (EXPENSES) Revenues Expenses 26 26 39.259 (50.789) (11.530) 85.528 (121.810) (36.282) 99.970 321.112 421.082 154.028 183.094 337.122 24 24 (86.630) (79.539) (166.169) (164.063) (160.633) (324.696) (65.753) (125.148) (190.901) (144.227) (210.290) (354.517) 310.665 (1.683.847) (1.683.847) (78.634) (8.966) (53.439) (134.587) (8.973) (284.599) 742.404 (715.575) (715.575) (31.423) (2.934) (28.028) (70.668) (4.008) (137.061) 444.936 (1.500.757) (1.500.757) (65.522) (6.140) (55.174) (140.110) (8.164) (275.110) 837.451 1.273.298 3.933.474 178.897 278.180 4.390.551 (1.075.675) (377.482) (224.874) (1.670) (1.679.701) 2.710.850 1.793.863 81.718 161.901 2.037.482 (486.121) (129.051) (124.248) (490) (739.910) 1.297.572 3.615.337 186.344 306.431 4.108.112 (989.649) (248.082) (255.446) (1.617) (1.494.794) 2.613.318 Consolidated 1/1/2009 to 6/30/2009 Consolidated 4/1/2008 to 6/30/2008 Consolidated 1/1/2008 to 6/30/2008

June 30, 2009

Brazilian Corporation Law

LIGHT S.A.

03.378.521/0001-75

23

OTHER OPERA TING REVENUES (EXPENSES) Revenues Expenses OPERATING INCOME Non-operating income Non-operating expenses NON-OPERATING INCOME INCOME BEFORE TAXES AND INTEREST Income ta x and social contribution PR OFIT/(LOS S) BEFORE INTEREST Interest INCOME/(LOSS) FOR THE YEA R Income/(Loss) per share - R$ No. of shares 6

1.909 (4.293) (2.384) 130.582 130.582 (2.279) 128.303 (6.866) 121.437 0,59547 203.934.060

8.023 (5.126) 2.897 384.323 384.323 (80.524) 303.799 (14.074) 289.725 1,42068 203.934.060

(291) (5.362) (5.653) 669.464 669.464 (276.535) 392.929 (4.325) 388.604 1,90995 203.462.739

16.521 (4.298) 12.223 832.279 832.279 (328.022) 504.257 (12.190) 492.067 2,41846 203.462.739

38

(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS
LIGHT - S.A. STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY (In thousands of reais)
PROFITS RESERVE CAPITAL STOCK 2.225.819 3 2.225.822 CAPITAL RESERVES 32.436 10.068 42.504 LEGAL RESERVE 103.757 103.757 RETAINED PROFITS 451.669 451.669 RETAINED EARNIGNS (ACCUMULATED LOSSES) 168.288 121.437 289.725 TOTAL 2.981.969 3 10.068 121.437 3.113.477

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BALANCE ON MARCH 31, 2009 Capital increase Granted options Net income for the period BALANCE ON JUNE 30, 2009

LIGHT - S.A. STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY (In thousands of reais)

PROFITS RESERVE CAPITAL STOCK 2.225.819 3 2.225.822 CAPITAL RESER VES 22.459 20.045 42.504 LEGAL RESERVE 103.757 103.757 RETAINED PROFITS 451.669 451.669 RETAINED EARNIGNS (ACCUMULATED LOSSES) 289.725 289.725 TOTAL 2.803.704 3 20.045 289.725 3.113.477

BALANCE ON DECEMBER 31, 2008 Capital increase Grant ed opt ions Net income for the period BALANCE ON JUNE 30, 2009

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS
LIGHT - S.A. CASH FLOW STATEMENTS (In thousands of reais)
Pare nt Company 4/1/2009 to 6/30/2009 Fr om operations Income/(loss) for the year Revenues (expenses) not affecting cash: Allowance for doubtful accounts Provision for (reversal of) losses in the recovery of long-term RTE Restatement of regulatory and contingent assets and liabilities Adjustment of receivables to present value Depreciation and amortization Equity Accounting Interests and monetary variations - net Income/loss from write-off of property, plant and equipment Deferred income tax and social contribution Charges and monetary variation on post-employment benefits PIS/COFINS reversal - tax rate increase and expansion of the basis Provision for liabilities - contingent Granted options Other (Increase) Reduction in assets Consumers and resellers Recoverable Taxes Services Inventories Prepaid Expenses (CVA and other) Dividends received Regulatory assets (CVA and Bolhas) Escrow deposits Other Increase (Reduction) in liabilities Suppliers Electric power suppliers Salaries and social contributions Taxes and Social Contributions Offsetting accounts - CVA Regulatory fees Contingencies Post-employment benefits Other (97) 134 37 172 246 Cash generated by (used in) operations Investment activities Sale of assets Investments in property, plant a nd equipment Advances Shareholding Investments Consumer contributions Cash used in investment activities Financing activities Paid dividends (407.868) (407.868) (203.463) 1.533 1.533 1.533 (36.388) (34.855) 130 130 406.640 (213) 126 32 141 86 406.099 (9) (1) 3 274 267 (1.189) (56) (4) 1 300 241 201.355 (27) 44 407.868 (30) 46 407.901 (376) 88 407.868 (30) 31 407.581 (21) (36) 62 (158) (153) 1 (52) 121 203.463 (142) 203.391 10.068 (1.507) 20.043 (1.568) (1.303) (2.277) (133.012) (311.336) (404.639) (509.076) 121.437 289.725 403.336 506.799 1/1/2009 to 6/30/2009 4/1/2008 to 6/30/2008 1/1/2008 to 6/30/2008

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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LIGHT - S.A. CASH FLOW STATEMENTS (In thousands of reais)

Consolidated 4/1/2009 to 6/30/2009 From operations Income/(loss) for the year Revenues (expenses) not affecting cash: Allowance for doubtful accounts Provision for (reversal of) losses in the recovery of long-term RTE Restatement of regulatory and contingent assets and liabilities Adjustment of receivables to present value Depreciation and amortization Equity Accounting Interests and monetary variations - net Income/loss from write-off of property, plant and equipment Deferred income tax and social contribution Charges and monetary variation on post-employment benefits PIS/COFINS reversal - tax rate increase and expansion of the basis Provision for liabilities - contingent Granted options Other (Increase) Reduction in assets Consumers and resellers Recoverable Taxes Services Inventories Prepaid Expenses (CVA and other) Dividends received Regulatory assets (CVA and Bolhas) Escrow deposits Other Increase (Reduction) in liabilities Suppliers Electric power suppliers Salaries and social contributions Taxes and Social Contributions Offsetting accounts - CVA Regulatory fees Contingencies Post-employment benefits Other (38.152) (42.842) (14.177) 29.341 (34.746) (350) (22.867) (23.177) (4.630) (151.600) 359.046 (27.229) 10.033 (6.542) (58.904) (89.828) (23.193) (37.709) (46.531) (21.644) (301.547) 657.606 4.980 (79.878) (18.086) 60.209 (31.873) (6.196) (21.944) (21.424) 60.697 (53.515) 195.471 (23.296) (77.074) (9.801) (68.429) (75.977) (13.646) (33.611) (41.468) 84.943 (258.359) 455.334 118.345 (468) (9.089) (147) (8.751) 123.615 (11.988) 14.379 225.896 (87.675) 116.118 (19.880) (1.421) (10.167) 196.952 (14.375) 67.236 246.788 (12.859) (333.320) 6.507 616 1.240 59.465 5.153 80.814 (192.384) (24.118) (161.927) (6.167) (4.055) 873 79.745 3.103 44.281 (68.265) 66.543 9.992 (5.619) 76.078 45.852 2.384 (71.674) 11.296 18.393 10.068 284.750 126.708 32.470 (11.419) 152.420 88.702 (2.788) (27.054) 20.488 23.539 20.045 (471) 712.365 47.386 11.511 (9.014) 80.312 40.562 6.584 193.779 47.502 (432.358) 69.355 (2.853) 441.370 105.260 2.385 23.882 (6.888) 159.365 93.666 (9.694) 182.254 86.299 (432.358) 86.655 (935) 781.958 121.437 289.725 388.604 492.067 1/1/2009 to 6/30/2009 4/1/2008 to 6/30/2008 1/1/2008 to 6/30/2008

Cash generated by (used in) operations Investment activities Sale of assets Investments in property, plant and equipment Advances Shareholding Investments Consumer contributions Cash used in investment activities Financing activities Paid dividends Loans and financings Amortization of loans and financings Net cash generated by (used in) financing activities Net cash variation Statement of net cash variation At the beginning of the year At the end of the year Cash variation

1.230 (130.221) 1.331 (127.660)

6.927 (242.665) 3.180 (232.558)

(148.179) (1.260) (149.439)

2.000 (240.320) (1.113) (239.433)

(407.868) 101.266 (91.420) (398.022) (166.636)

(407.869) 123.940 (161.608) (445.537) (20.489)

75.400 (73.116) 2.284 48.316

(203.463) 75.400 (135.443) (263.506) (47.605)

736.273 569.637 (166.636)

590.126 569.637 (20.489)

394.290 442.606 48.316

490.211 442.606 (47.605)

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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TABLE OF CONTENTS 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. OPERATIONS PRESENTATION OF THE QUARTERLY INFORMATION REGULATORY ASSETS AND LIABILITIES CASH AND CASH EQUIVALENTS CONSUMERS, CONCESSIONAIRES AND PERMISSIONAIRES (CLIENTS) TAXES PREPAID EXPENSES OTHER RECEIVABLES INVESTMENTS PROPERTY, PLANT AND EQUIPMENT INTANGIBLE ASSETS SUPPLIERS LOANS, FINANCING AND FINANCIAL CHARGES DEBENTURES AND FINANCIAL CHARGES REGULATORY CHARGES CONSUMER CONTRIBUTIONS PROVISION FOR CONTINGENCIES OTHER PAYABLES PENSION PLAN AND OTHER EMPLOYEE BENEFITS RELATED-PARTY TRANSACTIONS SHAREHOLDERS EQUITY ELECTRIC POWER SUPPLY OTHER REVENUES CONSUMER CHARGES (OPERATING REVENUE DEDUCTIONS) OPERATING COSTS AND EXPENSES ELECTRICITY PURCHASED FOR RESALE FINANCIAL INCOME FINANCIAL INSTRUMENTS INSURANCE STATEMENT OF OPERATIONS BY COMPANY TARIFF REVIEW LONG-TERM INCENTIVE PLAN SUBSEQUENT EVENTS

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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NOTES TO THE QUARTERLY INFORMATION AS OF JUNE 30, 2009

(Amounts in thousands of Brazilian reais)

1.

OPERATIONS

Light S.A.s corporate purpose is to hold equity interests in other companies, as partner or shareholder, and in the direct or indirect exploitation, as applicable, of electric power services, including electric power generation, transmission, sale and distribution systems, as well as other related services. Light S.A. is a parent company of the following companies: Light Servios de Eletricidade S.A. (Light SESA) - Publicly-held company engaged in the distribution of electric power; Light Energia S.A. - (Light Energia) Closely-held company whose main activity is study, plan, construct, operate and exploit electric power generation, transmission and sales, systems and related services; Light Esco Prestao de Servios Ltda. - (Light Esco) Company whose main activity is to provide services related to co-generation, projects, management and solutions, such as improving efficiency and defining energy matrixes and sale of energy on the free market. Itaocara Energia Ltda. - (Itaocara Energia) Pre-operating company, primarily engaged in the exploitation and production of electric power; Lightger Ltda. (Light Ger) and Lighthidro Ltda. (Light Hidro) Pre-operating companies both to participate in auctions for concession, authorization and permission for new plants. On December 24, 2008, Light Ger obtained the installation license that authorizes the start of implementation works of Paracambi small hydroelectric power plant (PCH); and Instituto Light para o Desenvolvimento Urbano e Social (Light Institute) It is engaged in participating in social and cultural projects, has interest in the cities economic and social development, affirming the Companys ability to be socially responsible.

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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Grupo Lights concessions and authorizations: Date of concession / Maturity Date authorization July 1996 February 2001 March 2001 June 2026 February 2031 March 2036

Concessions / authorizations

Generation, Transmission and Distribution (direct) Paracambi small hydroelectric power plant (PCH) (indirect) Itaocara hydroelectric power plant (indirect) 2.

PRESENTATION OF THE QUARTERLY INFORMATION

The individual and consolidated quarterly information including the notes thereto, are presented in thousands of reais and other currencies, except when otherwise indicated and were prepared in accordance with the accounting practices adopted in Brazil, which comprises the Brazilian Corporation Law, Pronouncements and Guidance issued by the Brazilian Committee on Accounting Pronouncements (CPC), rules issued by the Brazilian Securities and Exchange Commission (CVM), and standards established by Brazilian Electricity Regulatory Agency (ANEEL), pursuant to Accounting Manual for the Electric Power Public Utility, having fully met all concepts introduced by Law nr. 11,638/07 and Provisional Measure nr. 449/08. This quarterly information was prepared according to the principles, practices and criteria consistent with those adopted in the preparation of the annual financial statements as of December 31, 2008 and the quarterly information as of March 31, 2009. Thus, this quarterly information should be read jointly with said statements/information. Given that the Company is comprised primarily of interests in other corporations, the notes to the quarterly information primarily reflect the accounting practices and breakdown of its subsidiaries accounts. The consolidated Quarterly Information was prepared pursuant to CVM Rule 247, of March 27, 1996, which provides, among other subjects, procedures to prepare and disclose of consolidated financial statements and in line with the accounting practices adopted in the previous year.

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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The Quarterly Information as of June 30, 2008 was reclassified, when applicable, for comparison purposes, as described below:
Income Statement Period from April 01 to June 30, 2008 Published Cost of Goods and/or Services Sold Personnel Depreciation and amortization Operating Expenses/Revenues Selling expenses General and administrative expenses Other operating revenue Other operating expenses Non-operating Revenue Revenues Expenses Deferred Income Tax Interest/Statutory Contributions Interest (34,148) (72,779) Reclassification PLR (i) 2,725 Adjustments to Law 11,638/07 and MP449/08 (ii) 2,111 Adjusted (31,423) (70,668)

(66,055) (129,299) -

302 1,298 -

2,853 (291) (5,362)

(65,753) (125,148) (291) (5,362)

(291) (5,362) (192,091)

291 5,362 (1,688)

(193,779)

(4,325)

(4,325)

Income Statement Period from January 01 to June 30, 2008 Published Cost of Goods and/or Services Sold Personnel Depreciation and amortization Operating Expenses/Revenues Selling expenses General and administrative expenses Other operating revenue Other operating expenses Non-operating Revenue Revenues Expenses Deferred Income Tax Interest/Statutory Contributions Interest (73,202) (145,315) Reclassification PLR (i) 7,680 -

Adjustments to Law 11,638/07 and MP449/08 (ii) 5,205

Adjusted (65,522) (140,110)

(145,080) (212,840) -

853 3,657 -

(1,107) 16,521 (4,298)

(144,227) (210,290) 16,521 (4,298)

16,521 (4,298) (180,861)

(16,521) 4,298 (1,393)

(182,254)

(12,190)

(12,190)

(i) For most appropriate presentation, management and employee profit sharing were classified as profit sharing result PLR under income tax. (ii) In the preparation of the financial statements for year ended December 31, 2008, the Company and its subsidiaries adopted for the first time the changes in corporate legislation introduced by Law nr. 11,638/07 and Provisional Measure nr.449/08. The quarterly information as of June 30, 2008, presented herein, was also adjusted to reflect changes resulting from the adoption of said laws and CPCs issued in 2008, for the

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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comparison of the results for the quarters and six-month periods ended in June, reconciliated as follows:

3.

REGULATORY ASSETS AND LIABILITIES

Consolidated Current 6/30/2009 3/31/2009 52,507 52,507 220,946 56,837 146,061 18,048 273,453 (105,937) (94,901) (11,036) (105,937) 167,516 Non-current 6/30/2009 3/31/2009 229,665 229,665 229,665 (977) (977) (977) 228,688 216,399 216,399 216,399 (1,343) (1,343) (1,343) 215,056

Assets Consumers, concessionaries and permissionaires (Note 5) Tariff Readjustment - TUSD Prepaid expenses (Note 7) Portion "A" - (a) CVA - (b) Other regulatories - (c) TOTAL ASSETS Other payables (Note 17) Portion "A" - (a) CVA - (b) Other regulatories - (c) TOTAL LIABILITIES TOTAL

36,642 36,642 84,838 75,536 9,302 121,480 (71,558) (16,220) (49,551) (5,787) (71,558) 49,922

a)

Rationing:

The electric power distribution and generation companies revenues (free energy) for the rationing period is being recovered through the Extraordinary Tariff Recovery RTE, which agreement only allowed for the billing related to revenue lost of Light SESA through February 2008. In June 2008, Light SESA wrote off the items related to the extraordinary tariff recovery, free energy and its respective provisions, which were

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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not recovered within the 74-month term set forth by ANEEL in the Emergency Program for Reduction of Electric Power Consumption (PERCEE), in the amount of R$291,448, with no impact on results of that period. The Company has lawsuits, both within ANEEL and in the judiciary scopes, seeking the indemnity of such losses. Due to the maturity of term for the RTE billing (Loss of Revenue), the Variation in Portion A items (from January 1, 2001 to October 25, 2001) started to be recovered from March 2008, as approved by ANEEL Directive Release nr. 267/04. Pursuant to ANEELs rules, the additional tariff should remain effective until the end of the month when the ratified amount would be fully amortized, duly remunerated. In case of Light, this amortization occurred by mid June 2009, and billing until the end of the month exceeded the amounts ratified by R$16,220, which will return to consumers upon the 2009 Tariff Adjustment, also pursuant to ANEELs rules. Said amount is recorded in other debts, under current liabilities.

b) Memorandum account for Portion A Items Variation (CVA) Records the variations during the period and the annual tariff adjustment based on the Central Bank overnight rate (SELIC) for: purchase of energy; the tariff for transportation of electric power from Itaipu; the Fuel Usage Quota (CCC); the Economic Development Account (CDE); System service charges (ESS); the tariff for the use of transmission facilities of the basic electric network; and compensation for the use of water resources (CFURH). The amounts recorded under current (assets and liabilities) refer to amounts already approved by ANEEL in November 2008, when the tariff review was concluded. The amounts recorded under non-current represent the formation of CVA to be approved in the next tariff adjustment (November 2009). Breakdown of CVA

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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c)

Other Regulatory Assets/Liabilities

Finance costs transferred in the second tariff review of subsidiary Light SESA in accordance with Normative Resolution nr.734 of November 4, 2008, as per chart below:

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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4.

CASH AND CASH EQUIVALENTS

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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5.

CONSUMERS, (CLIENTS)

CONCESSIONAIRES

AND

PERMISSIONAIRIES

a) The balances of debt installments are adjusted to present value, when applicable, pursuant to Law nr. 11,638/07. The calculation of present value is made for each transaction of consumers debts renegotiation (debt payment by installments), based on the interest rate which reflects the term and risk of each transaction, being about 1% p.m. b) In 2Q09, bad debts were written off in the amount of R$102,547 (R$201,516 in 1Q09), amounting to R$304,063 in the six-month period. The allowance for doubtful accounts was set up in amounts deemed sufficient to cover eventual losses in the realization of credits and it is in accordance with ANEELs instructions summarized below: Clients with significant debts (large clients): - Individual analysis of balance receivable from consumers, by consumption class, deemed unlikely to be received. In other cases: - Residential consumers past due for more than 90 days;

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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- Commercial consumers past due for more than 180 days; - Industrial and rural consumers, public sector, public lighting, public utilities and other past due for more than 360 days

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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Overdue and falling due balances related to electric power billed and renegotiated debts are distributed as follows:

6.

TAXES

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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)a Refers to negative balance tax credits recoverable arising from refunds from temporary cash investments and government agencies in the amount of R$2,111 and prepaid Income Tax and Social Contribution credits for 2005, 2006, 2007 and 2008 amounting to R$173,380. The variation, for the quarter, of the amounts results of the monthly adjustment based on the Selic rate in the amount of R$6,058, new credits in the amount of R$6,082 and compensations in the amount of R$44,096, R$8,960 of withholding tax and R$35,136 of credits offset in 2008. )b The tax credits include amounts expected to be recoverable within 10 years, as set forth in referred CVM Instruction 371/02 and in the assumption of not being barred by law according to income tax Regulation, for this reason, a provision was recorded for the non-recovery in the amount of R$118,462. On June 30, such provision was reversed because of the transactions in the period, which generated a higher utilization of tax credits. Deferred taxes have been established based on the assumption of future realization, taking into account:
(i)

Income tax loss carryforward and negative social contribution basis these shall be carried forward indefinitely, but realization is limited to 30% of net income for each future fiscal year. differences these will be realized upon the payment or reversal of the provisions and/or the actual loss of doubtful accounts.

(ii) Temporary

Deferred tax assets are as follows:

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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)c Tax Debt Refinancing Program PAES (REFIS II) Up to June 30, 2009, Light SESA has paid 72 installments, out of 120 installments. The installments were calculated based on the total debt divided by the number of installments, subject to the TJLP (long-term interest rate). )d On February 20, 2003, Light SESA filed Writ of Mandamus 2003.51.01.005514-8 requesting an injunction that would release it from the payment of levied income and social contribution taxes on: (i) Profits earned by the companies LIR Energy Limited (LIR) and Light Overseas Investment Limited (LOI) before they are effectively available, in which case sole paragraph, Article 74 of Provisional Measure 2,158-35, of August 24, 2001 (MP 2,158-35), for the periods from 1996 to 2001, shall not apply; (ii) Profits earned by the companies LIR and LOI before they are effectively available, in which case Article 74, caput, of Provisional Measure 2,158-35/01, for calendar year 2002 and following years shall not apply; Light SESA obtained an injunction that is still effective, given that the Appeal filed by Light against the overruling of the writ of mandamus was received with a dual effect (returnable and suspensive), guaranteed by a definitive decision by the Superior Court of Justice. With reference to the merits, the Appeal awaits judgment. Based on this court decision, Light SESA suspended the payment of income and social contribution taxes levied on taxable income of 2004, 2005, 2006, 2007 and 2008
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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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verified due to addition of the profits earned by companies located abroad to these taxes calculation basis. The provision on June 30, 2009 is R$298,618 (R$292,710 on March 31, 2009), already including the monetary restatement by Selic rate. )e The amount of the state VAT (ICMS) recovery on June 30, 2009 includes R$55,173 (R$62,500 on March 31, 2009) of credits deriving from the renegotiations of the CEDAE debt in July and December 2006. )f Refers to tax credits to offset derived from the adjustment of PIS and COFINS calculation bases in the period from February 2004 through April 2008, due to the use of some segment charges, such as calculation basis deduction from these taxes. In relation to the period from November 2005 through April 2008, the amount related to credits assessed is being transferred to consumers and the amount of R$26,993 (R$33,446 on March 31, 2009) is recorded in Other Payables (see Note 17).

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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Reconciliation of effective and nominal income and social contribution taxes rates:

On May 27, 2009, the Law nr. 11,941/09 was approved related to tax debt installment payment. The Company is analyzing the impacts of this law and preliminary studies reveal a benefit, in view of the possibility of paying interest rates and tax debts fines with tax losses. 7. PREPAID EXPENSES

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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8.

OTHER RECEIVABLES

a) Out of the amount recorded, R$6,155 (R$5,710 on March 31, 2009) have already been authorized by ANEEL, however, they are pending receipt, and R$10,310 (R$11,764 on March 31, 2009) are under ratification phase.

9.

INVESTMENTS

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INFORMATION ON SUBSIDIARIES

CHANGES IN COMPANIES

INVESTMENTS

IN

SUBSIDIARIES

AND

ASSOCIATED

10. PROPERTY, PLANT AND EQUIPMENT

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a) The balance of special obligations derives from the consumers financial income, appropriation of the Federal Government and federal, state and municipal funds to finance the work necessary to meet the electric power demand.

Pursuant to ANEEL Regulatory Resolution 234, special obligations linked to concession shall be amortized at same property, plant and equipment depreciation rates, using an average rate from the second cycle of periodic tariff review (November 2008). Thus, annual amortization average rate of special obligations is 3.5% and was determined taking into account distribution registration units. (i) There are no assets or rights belonging to the Federal Government in use at the subsidiary Light SESA. (ii) Construction in progress includes inventories of materials for projects totaling R$58,535 as of June 30, 2009 (R$69,437 on March 31, 2009) and a provision for inventory loss of R$2,599 (R$1,488 on March 31, 2009). (iii) In 2Q09, part of the expenses with the central management, in the amount of R$5,671 (R$5,541 in 2Q08), amounting to R$9,692 in 1H09 (R$9,841 in 1H08) was capitalized in Property, Plant and Equipment recorded by transfer from operating expenses group - general and administrative expenses.

11. INTANGIBLE ASSETS

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Grupo Light classifies Software as intangible assets, which are amortized at a rate of 20% p.a., and Right-of-Ways, which are not amortized, as represent the right to use certain areas of land, usually associated with a Transmission and Distribution Line.

12. SUPPLIERS

13. LOANS, FINANCING AND FINANCIAL CHARGES

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In addition to the collaterals indicated above, loans are guaranteed by other collaterals in the amount of R$33,450, guarantee of Light S.A. and receivables in the approximate amount of R$48,840. In May 2009, Light SESA concluded the 1st issuance of promissory notes, in the amount of R$100,000, in an operation coordinated by Votorantim, Ita-BBA, Bradesco, Citibank and BNP. Promissory notes are remunerated at 125% of CDI rate, 1-year maturity and were redeemed in advance upon the conclusion of the 6th issuance of simple debentures of Light SESA see Note 32. The principal of loans and financing matures as follows (excluding financial charges):

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In percentage terms, the variation of major foreign currencies and economic ratios in the period, which are used to adjust loans, financing and debentures, was as follows in the periods:

Covenants The funding of CCB Bradesco, loans with ABN Amro and BNDES FINEM, classified as current and non-current requires that the Company maintain certain debt ratios and interest coverage. In the period ended June 30, 2009, the Company and its subsidiaries are in compliance with all required debt covenants.

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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14. DEBENTURES AND FINANCIAL CHARGES

The portions related to the principal of debentures have the following maturities (excluding financial charges):

Covenants Classified in the current and non-current, the 5th Issuance of Debentures requires the maintenance of indebtedness indicators and coverage of interest rates. In the period ended June, 2009, the Company and its subsidiaries complied with all the covenants required. 15. REGULATORY CHARGES CONSUMER CONTRIBUTIONS

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS
Consolidated 6/30/2009 3/31/2009 CURRENT Fuel usage quota CCC Energy development account quota CDE Reversal global reserve quota RGR Charges for capacity and emergency acquisition 10,954 17,173 6,699 76,044 110,870 8,811 17,173 6,699 76,044 108,727

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16. PROVISION FOR CONTINGENCIES

Light S.A. and its subsidiaries are party in tax, labor and civil lawsuits and regulatory proceedings in several courts. Management periodically assesses the risks of contingencies related to these proceedings, and based on the legal counsels opinion records a provision when unfavorable decisions are probable and whose amounts are quantifiable. In addition, the Company does not record assets related to lawsuits with a less-than-probable chance of success, as they are considered uncertain. Provisions for contingencies are as follows:

16.1 Labor Contingencies There are 3,863 labor-related legal proceedings in progress (3,971 on March 31, 2009) in which the Company and subsidiaries are the defendants. These labor proceedings mainly involve the following matters: overtime; hazardous work wage premium; equal

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pay; pain and suffering; subsidiary/joint liability of employees from outsourced companies; difference of 40% fine of FGTS (Government Severance Indemnity Fund for Employees) derived from the adjustment due to understated inflation. We point out that in December 2007, the subsidiary Light SESA was notified to reply to a public civil action filed by the Public Prosecution Office of Labor of the 1st Region, contesting on court the fact that the Company engages other companies to provide services related to its main and ancillary activities. Referred lawsuit was granted relief on April 4, 2008. A suspensive effect was granted to the Ordinary Appeal lodged by Light SESA. On March 25, 2009, Lights Ordinary Appeal was heard and granted by unanimous vote of the 8th Chamber of the Regional Labor Court. Light filed a review appeal restricted to standing to sue. Light SESAs legal counsels believe in a favorable decision in these actions. 16.2 Civil Contingencies The Company and its subsidiaries are defendants in approximately 40,220 civil legal proceedings (39,866 on March 31, 2009), of which 13,375 are in the state and federal courts (Civil Proceedings), among which those claims that can be accurately assessed amounting to R$494,646 (R$609,132 on March 31, 2009) and 26,845 are in Special Civil Courts, with total claims amounting to R$365,314 (R$399,072 on March 31, 2009).

a) The Provision for civil proceedings comprises lawsuits in which Light SESA is the defendant and it is probable the claim will result in a loss in the opinion of the respective attorneys. The claims mainly involve alleged moral and property damage as well as consumers challenging the amounts paid. The Company is also party to civil proceedings that Management believes that risk of loss are less than probable, based on the opinion of its legal counsels. Therefore, no

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provision was established. The amount, currently assessed, represented by these claims is R$330,819 (R$335,856 on March 31, 2009). Light SESA is also involved in Public and Class Civil Actions, contesting in court fees, rates and charges, contracts, equipment, Cruzado Plan, interest, among others. Up to June 30, 2009, the Management could not assess the amount involved in each one of these actions due to their nature, comprehensiveness and need of settlement of these claims. On November 18, 2008, the Company, managers and shareholders took cognizance of a class civil action filed by an individual at the Court of Belo Horizonte, in the state of Minas Gerais, alleging among others, irregularities in the acquisition of share control of Light S.A.. The attorneys defending this action deem as remote the chances of an unfavorable decision. b) Lawsuits in the Special Civil Court are mostly related to matters regarding consumer relations, such as improper collection, undue power cut, power cut due to delinquency, network problems, various irregularities, bill complaints, meter complaints and problems with ownership transfer. There is a limit of 40 minimum monthly wages for claims under procedural progress at the Special Civil Court. Accruals are based on the moving average of the last 12 months of condemnation amount. c) There are civil actions in which some industrial consumers have challenged, in court, the increases in electric power tariff rates approved in 1986 by the National Department of Water and Electric Power (Cruzado Plan). 16.3 Tax Contingencies The provisions established for tax contingencies are as follows:

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a) PIS/COFINS: Light SESA was party of two lawsuits contesting on court the charge of these contributions, pursuant to Law 9,718/98, as follows: In the first one, Light SESA challenged in court the changes introduced by said Law concerning (i) the increase in their calculation basis and (ii) increase in COFINS rate from 2% to 3%. In the appeal filed by Light SESA in Supreme Federal Court it was rendered a final and unappealable decision regarding the increase of calculation basis, considering an unconstitutionality action of Article 3, paragraph 1, of Law 9,718/98, with the respective reversal of the provision taking place in the 2 nd quarter of 2008, in the amount of R$432,358, in counterpart to the financial expenses item. In the second one, Light SESA has been challenging the lapse of enforceability of part of the amounts claimed in the January 31, 2007 Collection Letter issued by the Internal Revenue Service, as the federal tax authorities did not request payment within the legal term. A temporary injunction was granted and maintained by the Regional Federal Court to suspend the charge, and currently the appeals to Higher Courts are pending judgment. In relation to the merits, the judgment in low court is awaited, and, according to the Companys legal counsels, the decision is estimated as a possible loss. On June 30, 2009, the amount of R$219,652 (R$217,156 on March 31, 2009) related to the increase in the COFINS rate from 2% to 3% remains provisioned. b) PIS/COFINS RGR and CCC: The contingency amount corresponds to the portion not included in PAES payment in installments regarding the application of the ex-officio fine, in which Light SESA was not successful in the regulatory cases but had a favorable court decision, in which the Company awaits the appeal decision of the Federal Government. This amount also includes the portion corresponding to the increase in the COFINS rate related to the period of April 1999 to December 2000, which is being

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argued in court. c) INSS Tax Infringement Notices: In December 1999, the INSS issued tax infringement notices to the Company on the grounds of joint liability, withholdings on services rendered by contractors, and levy of the social security contribution on employee profit sharing. The variation in the amount between June 30, 2009 and March 31, 2009 is due to the adjustment based on the SELIC rate. d) INSS Quarterly: Light SESA challenges the constitutionality of Law 7,787/89, which increased the rate of social security contribution taxes assessed on payroll, noting that there was a consequent increase in the calculation basis in the period from July to September 1989. Light SESA was able to offset the social security contribution amounts payable according to advance protections that was previously granted. Management recorded provision, for the total amount of the tax infringement notices issued by the INSS based on the legal counsels opinion. The variation in the amount between June 30, 2009 and March 31, 2009 is due to the adjustment based on the SELIC rate. e) Law nr. 8,200/91: The provision recorded is due to the fully use of the 1991 and 1992 depreciation expenses, and no longer apply the provisions of Law 8,200/91, Article 3, item I. The lawsuit was accepted by the lower and higher courts, and the appeal filed by the Federal Government in Supreme Federal Court is pending judgment. The variation in the amount between June 30, 2009 and March 31, 2009 is due to the adjustment based on the SELIC rate.

f) ICMS: The provision recorded is mainly related to litigation on the application of State Law nr. 3,188/99, which limited the manner of receiving credits from ICMS levied in the acquisitions of assets allocated to property, plant and equipment, requiring the receipt in installments, while this limitation was not provided for in the Complementary Law 87/96. There are other tax infringement notices which have been challenged at the regulatory and judicial levels. The adjustment of this provision is annually carried out, in January, by UFIR (Fiscal Reference Unit). g) Social Contribution: The provision recorded is related to (i) deductibility of interest on capital paid to shareholders in calendar year 1996 from the CSLL (Social Contribution on Profit) tax basis, in which the preliminary injunction was granted and a guarantee was partially granted, and the appeal filed by the Federal Government is

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pending judgment; and (ii) lack of addition of the amounts related to the PIS/COFINS provision to the social contribution calculation basis, the payment of which was suspended. With the completion of administrative level, a tax foreclosure has been filed and the Company made a full deposit of litigated amount, as well as it filed a motion to stay execution. The variation of amount between June 30, 2009 and March 31, 2009 refers to the adjustment by SELIC. h) Economic Intervention Contribution Credit (CIDE): It is the provision related to CIDE levied on service payments remitted abroad. The low court decision was unfavorable, and Light SESA awaits the appeal judgment. Since December 2003, the subsidiary has been paying the amounts due. The Company and its subsidiaries are also parties to tax, regulatory and legal proceedings in which Management, based on the opinion of its legal counsels, believes the risks of loss are possible, and based on that no provision was recorded. Currently, the quantifiable amount of these proceedings is R$1,152,300 (R$1,128,900 on March 31, 2009). The main tax proceedings deemed as possible loss or that had effects in the second quarter of 2009 are pointed out as follows: (i) IN 86. Light SESA was subjected to a fine by the Internal Revenue Service due to the fact that the Company did not comply with service of process for the delivery of electronic files between 2003 through 2005. The challenge was deemed groundless. Currently, the voluntary appeal lodged by Light is pending judgment. The restated amount of the fine up to June 30, 2009 is R$232,200 (R$227,700 on March 31, 2009). (ii) ICMS (Aluvale). These are tax foreclosures related to the ICMS deferral in the supply of electric power for the consumer ALUVALE, an electro-intensive industrial consumer. A motion to stay was filed. Motions to stay were deemed groundless in three tax foreclosures and Light brought the corresponding appeals. The amount of these tax foreclosures at June 30, 2009 is R$168,800 (R$168,800 on March 31, 2009).

(iii) IRRF Disallowance of tax offset. Light was given a decision informing about the non-ratification to offset IRRF credits over temporary cash investments and IRRF of electricity bills paid by public authorities, which were offset due to negative balance of

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IRPJ in 2002. As a result, Light filed a Motion to Disagree, which is pending judgment. The amount involved on June 30, 2009 is R$176,100 (R$174,000 on March 31, 2009). (iv) Other. In addition to the cases mentioned above, there are other judicial and administrative litigations, deemed as probable losses by the legal counsels, mainly (a) ICMS on low-income subsidy; (b) transfer of ICMS credit (RHEEM company); (c) PIS, COFINS, IRPJ and CSLL Voluntary Disclosure; (d) ISS on regulated services; (e) nonratification of the COFINS offset with IRPJ negative balance; (f) no ratification of COFINS offset with CSLL negative balance 1999 calendar year; and (g) no ratification of COFINS offset with CSLL negative balance 2002 and 2003 calendar years. The amount involved in these litigations was R$149,400 on June 30, 2009 (R$149,200 on March 31, 2009). (v) Up to June 30, 2009, Light SESA received 18 lawsuits (7 on March 31, 2009) filed by business clients challenging PIS and COFINS transferred to electricity bill, pleading to refund all amounts unduly paid. According to the opinion of its attorneys, the chances of loss are deemed as possible, and no provision was recorded. (vi) Light SESA also has several discussions related to the Municipal Real Estate Tax (IPTU) and the Rural Land Tax (ITR), whose probability of loss is deemed as possible, according to its attorneys, and for this reason a provision was not recorded. The amount involved in these proceedings, as of June 30, 2009 is R$302,200 (R$302,200 on March 31, 2009). Remote Losses Proceedings deemed as remote losses by the Companys and subsidiaries legal counsels were not provisioned. 16.4 Other Contingencies a) Administrative Regulatory Contingencies The subsidiary Light SESA has regulatory contingencies derived from administrative challenges against ANEEL:

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a.1) Low Income The Monitoring Report RF-LIGHT-04/2007-SFE of August 2007 was prepared by ANEEL, between July 2, 2007 and July 13, 2007, challenged the granting of the social tariff to some consumers in the period and deemed as undue part of the subsidies ratified and received by Light SESA from Eletrobrs in the amount of R$266,379. The Company recorded a provision in the amount of R$53,381, to cover the probable risk of having to refund part of the subsidy already received. a.2) ANEELs Infringement Notice 009/2005 the notice was issued on March 15, 2005 under the argument that Light SESA had: (i) incorporated the subsidiaries LIR Energy Limited and Light Overseas Investments without prior consent of ANEEL (R$1,144); (ii) performed operations with these companies without prior consent of ANEEL (R$2,287); and (iii) not complied with ANEELs order of cancelling operations and closing companies activities (R$3,431). After appeals had been filed, the fine related to item (iii) was excluded, and fines associated with items (i) and (ii) were maintained. The penalty associated to item (ii) was paid, while a writ of mandamus was filed regarding the fine related to item (i), with court deposit in the amount of R$1,655 (original amount restated by the SELIC rate up to the deposit date). After decision rendered on November 23, 2007 of refusing writ of mandamus security, the Requests of Clarification were filed, and consequently rejected by decision rendered on December 17, 2007. Against the judgment, Light SESA filed an appeal on January 25, 2008, requiring a supersedeas to that appeal. On September 10, 2008, a decision was rendered to which an appeal was filed for remanding purposes only. Finally, on September 17, 2008, Bill of Review 2008.0.00.046455-8 was filed, in order to obtain the supersedeas to the appeal, avoiding the fact that the amounts expended in the lawsuit were verified. The Bill of Review was distributed to the Federal Superior Court Judge, who still did not issue an opinion on the request of advance protection. The amount as of June 30, 2009 is R$2,048 (R$2,001 on March 31, 2009). b) Environmental Contingencies The public civil action proposed by the Municipality of Barra do Pira against Light SESA, in which the plaintiff requests the remediation and recovery of several environmental damages caused by the construction of the Santa Ceclia and Santana plants, as an integral part of the transposition system of waters from the Rio Paraba do Sul basin to the Rio Guandu basin, feeding the Fontes, Nilo Peanha and Pereira Passos plants. Currently, the activity ceased, as the parties are trying to reach an agreement.

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There is a collection lawsuit concerning this public civil action which alleges that certain obligations were not complied with during the construction of the Santa Ceclia e Santana plants, particularly regarding the aggradation and reforestation of the region. The suggested lawsuit amounts to R$900. The ruling of the lawsuit equally depends on expert examination and it is not possible to estimate the value of a possible adverse judgment. The sum of historical lawsuit values is approximately R$16,000, and the likelihood of loss of both actions is possible. Despite this being a possible outcome, as of June 30, 2009, the provision was R$6,000. Due to deverticalization, this provision was recorded at Light Energia.

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17. OTHER PAYABLES

18. PENSION PLAN AND OTHER EMPLOYEE BENEFITS

Light SESA sponsors Fundao de Seguridade Social BRASLIGHT, a nonprofit closed pension entity, whose purpose is to provide retirement benefits to the Companys employees and pension benefits to their dependents. BRASLIGHT was incorporated in April 1974 and has three plans - A, B and C established in 1975, 1984 and 1998, respectively, with about 96% of the active participants of the other plans having migrated to Plan C. Plans A and B are of the Defined Benefit type and Plan C provides mixed benefit. All are currently in effect. On October 2, 2001, the Secretariat for Pension Plans (SPC) approved an agreement for resolving the technical deficit and refinancing unamortized reserves, which are being amortized in 300 monthly installments beginning July 2001. Up to May 2009, they had been adjusted based on the IGP-DI (general price index domestic supply) variation

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(with one-month lag) and actuarial interest of 6% per annum. As of June 2009, IPCA (with one-month lag) replaced IGP-DI as restatement index. Transactions occurred in the quarters in net actuarial liabilities were the following:

19. RELATED-PARTY TRANSACTIONS

The Companys main shareholders are: Controlling Group - Rio Minas Energia Participaes S.A RME, jointly-owned subsidiary of Companhia Energtica de Minas Gerais CEMIG, Andrade Gutierrez Concesses, Luce do Brasil Fundo de Investimento em Participaes and Equatorial Energia. BNDESPAR

Direct and indirect interests in operating subsidiaries are outlined in the Note 1. A summary of related-party transactions occurred in the first six-month periods of 2009 and 2008 is presented below:

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* Equatorial Energia S.A.s subsidiary.

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A summary of agreements executed with related parties is presented below:

* Equatorial Energia S.A.s subsidiary. Related-party transactions have been executed under usual market conditions. Additional information agreements in progress Light, in order to potentialize its capacity of developing and implementing new generation projects and taking into account the recognized capacity in this area of its shareholder Companhia Energtica de Minas Gerais CEMIG (Cemig), Light entered into Heads of Agreement (Agreement) which, among other provisions, establishes that the parties will jointly prepare business plans for the development and implementation of energy generation projects (Generation Projects). The Agreement also determines that the parties will execute specific instruments for each of the Generation Projects to be implemented and the Companys interest directly or by means of its subsidiaries in each one of these consortia will be fifty-one percent (51%) and CEMIGs interest, directly or by means of its subsidiaries will be forty-nine percent (49%).

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Light, which already has in its portfolio projects under development, formalized by means of its subsidiaries, Lightger Ltda., Itaocara Energia Ltda. and Light Energia S.A., three consortium agreements with Cemig Gerao e Transmisso S.A. (Cemig GT), wholly-owned subsidiary of Cemig, aiming the exploration of hydroelectric projects in the regions of Paracambi, Itaocara and Lajes, respectively. All private instruments mentioned above were executed by the parties under suspensive conditions, therefore, their effectiveness relies on obtaining authorizations or endorsements required by regulatory authorities, including but not limited to ANEEL.

20. SHAREHOLDERS EQUITY

Capital Stock The capital of Light S.A is represented by 203,934,060 common shares, without par value outstanding as of June 30, 2009 recorded as Capital Stock in the total amount of R$2,225,822 as follows:

At a meeting held on May 8, 2009, the Board of Directors approved the Companys capital stock increase, resulting from the exercise of rights inherent to the warrants occurred on April 3, 2009. The increase was made by means of the issuance of 282 outstanding common shares, without par value. Light S.A. is authorized to increase its capital up to the limit of 203,965,072 common shares through resolution of the Board of Directors, regardless of amendments to the bylaws. However, this increase is to occur exclusively upon the exercise of the warrants issued, strictly pursuant to the conditions of the warrants (Bylaws, Article 5, paragraph 2).

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Capital Reserve Light S.A., pursuant to CVM Resolution nr. 562 issued on December 17, 2008, recorded in Shareholders Equity, under Capital Reserves, the amount of R$42,504 (R$32,436 on March 31, 2009) related to the stock options granted to few officers, corresponding to the vesting period already incurred up to June 30, 2009, as per Note 31.

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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21. ELECTRIC POWER SUPPLY

Consolidated 04.01 to 06.30 Residential Industrial Commerce, services and other Rural Public sector Public lightning Public utility Own consumption Billed sales ICMS (State VAT) Unbilled sales TOTAL SUPPLY
(3)

Number of billed sales 2009 2008 3,651,775 12,002 269,417 11,016 10,159 432 1,309 328 3,956,438 3,956,438 3,956,438

(1) (2)

GWh 2009 1,860 459 1,477 12 352 171 271 17 4,619 4,619 1,134 353 1,487 6,106

(1)

R$ 2008 1,821 459 1,452 12 330 171 266 18 4,529 4,529 1,118 209 1,327 5,856 2009 610,268 106,182 466,013 2,264 111,313 25,707 55,388 1,377,135 504,911 (49,962) 1,832,084 80,931 13,815 94,746 1,926,830 2008 616,794 100,778 462,521 2,245 84,650 25,502 54,666 1,347,156 483,264 (36,557) 1,793,863 72,788 8,930 81,718 1,875,581

3,610,915 12,612 271,501 10,956 9,585 198 1,297 328 3,917,392 3,917,392 3,917,392

Electric power auction Short-term energy TOTAL SUPPLY OVERALL TOTAL

(1) Not revised by the independent auditors (2) Number of billed sales in June 2009, with and without consumption (3) Light SESA

Consolidated 01.01 to 06.30 Residential Industrial Commerce, services and other Rural Public sector Public lightning Public utility Own consumption Billed sales ICMS (State VAT) Unbilled sales TOTAL SUPPLY
(3)

Number of billed sales 2009 2008 3,651,775 12,002 269,417 11,016 10,159 432 1,309 328 3,956,438 3,956,438 3,956,438

(1) (2)

GWh 2009 4,024 892 3,059 25 712 339 536 34 9,621 9,621 2,259 482 2,741 12,362

(1)

R$ 2008 3,849 910 2,984 24 667 342 539 36 9,351 9,351 2,289 249 2,538 11,889 2009 1,328,805 208,486 961,038 4,809 223,146 51,116 108,224 2,885,624 1,068,876 (21,026) 3,933,474 159,295 19,602 178,897 4,112,371 2008 1,251,189 187,571 920,638 4,689 158,512 50,401 105,417 2,678,417 981,721 (44,801) 3,615,337 166,837 19,507 186,344 3,801,681

3,610,915 12,612 271,501 10,956 9,585 198 1,297 328 3,917,392 3,917,392 3,917,392

Electric power auction Short-term energy TOTAL SUPPLY OVERALL TOTAL

(1) Not revised by the independent auditors (2) Number of billed sales in June 2009, with and without consumption (3) Light SESA

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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22. OTHER REVENUES

23. CONSUMER CHARGES (Operating Revenue Deductions)

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24. OPERATING COSTS AND EXPENSES

Consolidated Operating Expenses Selling General and Adm (4,851) (422) (14,310) (252) (66,543) (252) (86,630) (11,767) (744) (21,609) (8,649) (18,494) (18,276) (79,539)

04.01 to 06.30 Nature of the expense Personnel and management Material Outsourced services Electricity purchased for resale (Note 25) Depreciation and amortization Allowance for doubtful accounts Provision for contingencies Other Total

Cost of Service Electric Power Operation (811,854) (811,854) (46,045) (5,299) (27,984) (67,177) (4,274) (150,779)

2009 (62,663) (6,465) (63,903) (811,854) (76,078) (66,543) (18,494) (22,802) (1,128,802)

(Reclassified) 2008 (49,853) (3,579) (64,358) (715,575) (80,312) (47,384) (63,936) (18,540) (1,043,537)

Cost of Service 01.01 to 06.30 Nature of the expense Personnel and management Material Outsourced services Electricity purchased for resale (Note 25) Depreciation and amortization Allowance for doubtful accounts Provision for contingencies Other Total Electric Power (1,683,847) (1,683,847) Operation (78,634) (8,966) (53,439) (134,587) (8,973) (284,599)

Consolidated Operating Expenses Selling (8,284) (714) (27,327) (503) (126,708) (527) (164,063) General and Adm (37,838) (1,258) (41,942) (17,330) (23,881) (38,384) (160,633) 2009 (124,756) (10,938) (122,708) (1,683,847) (152,420) (126,708) (23,881) (47,884) (2,293,142)

(Reclassified) 2008 (103,949) (7,490) (126,692) (1,500,757) (159,365) (107,643) (79,815) (44,673) (2,130,384)

25. ELECTRIC POWER PURCHASED FOR RESALE

Consolidated 04.01 to 06.30 2009 CVA (Recoverable Cost Variation) Connection charges Spot market energy Network usage charges Itaipu UTE Norte Fluminense Other contracts and electric power auctions National Electric System Operator (O.N.S.) 1,404 1,583 3,519 6,506 GWh(1) 2008 144 1,425 1,584 2,992 6,145 2009 36,794 (4,822) 13,113 (95,659) (160,790) (239,394) (356,869) (4,227) (811,854) R$ 2008 (22,551) (3,882) (47,898) (86,599) (121,904) (189,708) (240,116) (2,917) (715,575)

(1) Not revised by the independet auditors

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS
Consolidated 01.01 to 06.30 2009 CVA (Recoverable Cost Variation) Connection charges Spot market energy Network usage charges Itaipu UTE Norte Fluminense Other contracts and electric power auctions National Electric System Operator (O.N.S.) 568 2,791 3,150 7,292 13,801 GWh(1) 2008 588 2,845 3,168 6,338 12,939 2009 64,318 (9,574) (53,237) (194,951) (343,130) (476,191) (664,037) (7,045) (1,683,847) R$ 2008 (8,202) (7,764) (167,910) (173,102) (249,485) (379,501) (509,791) (5,002) (1,500,757)

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(1) Not revised by the independet auditors

26. FINANCIAL INCOME

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27. FINANCIAL INSTRUMENTS

Below, we compared book and market values of Companies assets and liabilities:

a) Policy for utilization of derivatives

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The policy for utilization of derivative instruments approved by the Board of Directors determines the debt service protection (principal plus interest and commissions) denominated in foreign currency to mature within 24 months, forbidding any utilization for speculative purposes, whether in derivatives or any other risk assets. In line with provisions of this policy, the Company and its subsidiaries do not have futures contracts, options, swaptions, swaps with regret option, flexible options, derivatives embedded in other products, structured operations with derivatives and exotic derivatives. In addition, it is evidenced through the chart above that the single derivative instrument used by the Company and its subsidiaries is the non-cash currency swap (US$ versus CDI), whose Contractual Notional Value corresponds to the amount of foreign currency-denominated debt service to expire within 24 months, in line with the policy for the utilization of aforementioned derivatives. b) Risk management and objectives achieved The management of derivative instruments is conducted by means of operating strategies, aiming liquidity, profitability and safety. The control policy consists of permanently inspecting the policy compliance in the utilization of derivatives, as well as to monitor the rates contracted against those used in the market. c) Classification and measurement of financial instruments: Concerning the calculation of market value, below the following considerations: Loans and receivables: consumers, concessionaires and permissionaires (clients) are classified as held to maturity and are recorded by their original values, subject to provision for losses and present value adjustment, when applicable. Suppliers: are measured by the amortized cost method and therefore, recognized by their original value. Loans and financing: are measured by the amortized cost method. Market values were calculated at interest rates applicable to instruments with similar nature, maturities and risks, or based on market quotations of these securities. The market values for BNDES financing are identical to accounting balances, since there are no similar instruments, with comparable maturities and interest rates. In case of

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debentures, book and market values are identical, as there is no liquid trading market for these debentures as an accurate benchmark in the market calculation. Swap operations: are measured at the market value. The determination of market value used available information in the market and usual pricing methodology: the face value (notional) evaluation for long position (in U.S. dollars) until maturity date and discounted at present value of clean coupon rates, published in bulletins of Future and Commodities Exchange BM&F Bovespa. It is worth mentioning that estimated market values of financial assets and liabilities were determined considering information available on the market and appropriate valuation methodologies. Nevertheless, meaningful judgment was required when interpreting market data to produce the most appropriate market value estimate. As a result, estimates do not necessarily indicate the amounts that may be realized in current exchange market. d) Risk Factors During the normal course of its businesses, the Company and its subsidiaries are exposed to the market risks related to currency variations and interest rates, as evidenced in the chart below: Debt breakdown (excluding financial charges):

On June 30, 2009, according to the chart above, the foreign currency-denominated debt is R$111,414, or 5.19% of total debt. Nevertheless, if we include financial charges, this amount increases to R$116,272 (US$59,578, according to U.S. dollar quote of June 30, 2009), or 5.24% of the total debt.

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Financial derivative instruments were contracted for the amount of foreign currencydenominated debt service to expire within 24 months, in the swap modality, whose notional value on June 30, 2009 stood at US$25,909, according to the policy for utilization of derivative instruments approved by the Board of Directors. Thus, if we deduct this amount from total foreign currency-denominated debt, the foreign exchange exposure represents 2.96% of total debt. Below, we provide a few considerations and analyses on risk factors impacting on business of Grupo Light companies: Foreign exchange risk Considering that a portion of Light SESAs loans and financing is denominated in foreign currency, the Company uses derivative financial instruments (swap operations) to hedge service associated with these debts (principal plus interest and commissions) to expire within 24 months. Derivative operations resulted in an R$9,756 loss in the second quarter of 2009 (R$8,448 loss in the second quarter of 2008). The net amount of swap operations as of June 30, 2009 is negative at R$116 (negative R$11,394 in the second quarter of 2008), as shown below:

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The amount recorded is already measured by its fair value on June 30, 2009. All operations with derivative financial instruments are registered in clearing houses for the custody and financial settlement of securities and there is no margin deposited in guarantee. Operations have no initial cost.

The sensitivity analysis for foreign exchange and interest rates fluctuations is presented, showing eventual impacts on financial result of the Company and its subsidiaries are presented below. The methodology used in the Probable Scenario was to consider that both foreign exchange and interest rates will keep the same level verified on June 30, 2009 until the end of year, maintaining steady liabilities, derivatives and temporary cash investments verified on June 30, 2009. It is worth highlighting that, as it refers to a sensitivity analysis of the impact on the 2009 financial result, the following factors were taken into consideration: the expenses and/or financial revenues amounts realized in 2Q09 and the projection of charges for the next six-month period on the debt balance on June 30,

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2009. It is worth mentioning that the behavior of debt and derivatives balances will observe their respective contracts, and the balance of temporary cash investments will fluctuate according to the need or available funds of the Company and its subsidiaries.

* Loans closed in the second quarter, therefore, these will not change in the stress scenario.

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Considering the chart above, it is possible to identify that despite partial hedge against foreign currency-denominated debt (only limited to debt service to expire within 24 months), as R$/US$ exchange rate increases, liabilities financial expense also increases but financial revenues of derivatives also partially offset this negative impact and viceversa. Thus, cash is hedged due to the derivatives policy of the Company and its subsidiaries.

Interest rate risk This risk derives from impact of interest rates fluctuation not only over financial expense associated with loans and financing of subsidiaries, but also over financial revenues deriving from temporary cash investments. The policy for utilization of derivatives approved by the Board of Directors does not comprise the contracting of instruments against such risk. Nevertheless, the Company and its subsidiaries continuously monitor interest rates so that to evaluate eventual need of contracting derivatives to hedge against interest rates volatility risk. See below the sensitivity analysis of interest rate risk, evidencing the effects on variation results in the scenarios:

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Credit risk It derives from the Company and its subsidiaries eventually suffering losses deriving from default of counterparties or financial institutions depositary of funds or financial investments. To mitigate these risks, the Company and its subsidiaries adopt the analysis of financial and equity position of its counterparties as practice, as well as the definition of credit limits and permanent monitoring of outstanding positions. Concerning financial institutions, the Company and its subsidiaries only carry out operations with low-risk financial institutions classified by rating agencies.

28. INSURANCE

The Company and its subsidiaries have insurance covering its main assets:

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The assumptions of risks adopted, given their nature, are not included in the scope of a special review; accordingly, they were not reviewed by independent auditors. Insurance coverage as of June 30, 2009 is considered sufficient by Management, as summarized below:

29. STATEMENT OF INCOME BY COMPANY

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(A free translation of the original in Portuguese) FEDERAL PUBLIC SERVICE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) STANDARDIZED FINANCIAL STATEMENTS (DFP) COMMERCIAL, INDUSTRY AND OTHER TYPES OF COMPANIES 01987-9 11.01 NOTES TO THE FINANCIAL STATEMENTS LIGHT S.A.

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30. TARIFF REVIEW Result of second periodic tariff review of Light SESA: At a public meeting held on November 4, 2008, ANEEL established, temporarily, the structural tariff repositioning of Light Servios de Eletricidade S/A at 1.96%, which took effect on November 7, 2008. Considering the 2.30% financial additions, the tariffs impact was 4.27%. In view of the tariff basis withdraw of a -0.41% financial component that had been added to the 2007 annual readjustment, the average effect on the tariff to be acknowledged by the consumers corresponded to 4.70%. It is worth mentioning that the level of regulatory losses and the calculation of efficient operating costs (Benchmark Company and Default) are provisional. ANEEL temporarily established a component Xe of X Factor, to be applied as reducer, in real terms, of Portion B in the subsequent tariff readjustments, from 2009 to 2012, at 0.00%. With the conclusion of methodology improvements for the second cycle of tariff reviews on November 25, 2008, definite amounts of Lights tariff review process will be established as per following schedule: Proposal to make it available on the Internet for document exchange Companys and other agents opinion about the proposal available on the Internet Process to be resolved at the board of executive officers meeting

As of 8/11/2009 Up to 9/8/2009 10/13/2009

31. LONG-TERM INCENTIVE PLAN a) Stock Incentive Plan Light S.A., pursuant to CVM Resolution nr. 562 issued on December 17, 2008, recorded an increase of R$10,068 in its shareholders equity, under capital reserves, corresponding to the vesting period incurred in the second quarter of 2009, totaling

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R$42,504 (R$32,436 on March 31, 2009) referring to stock options granted to few officers. b) Phantom Options Incentive Plan The Company accrued the amount of R$1,033 related to the vesting period incurred in the second quarter of 2009, in counterpart to the item of personnel expenses, totaling an amount of R$6,412 (R$5,379 on March 31, 2009).

32. SUBSEQUENT EVENTS Secondary Offering of Shares On July 14, 2009, the notice announcing the commencement of Light S.A.s secondary offering was published, where 29,470,480 shares were tendered, corresponding to 14.4% of the Companys capital stock. The offering price established in a bookbuilding process was twenty-four reais (R$24.00), totaling R$707,292. Issuance of Debentures At the end of July 2009, Light SESA concluded its 6th issuance of simple nonconvertible debentures. The issuance amounted R$300,000, remunerated at 115% of CDI rate, established in a bookbuilding process, compared to the initial expected remuneration of 133% of CDI rate. The debentures were issued on June 1, 2009 and were approved by CVM on July 21, 2009, Cash receipt was recorded on July 24, 2009 and they will be amortized in a lump sum on June 1, 2011, mainly destined to redeem in advance the 1st issuance of Light SESA promissory notes, in the amount of R$100,000, besides strengthening the Companys working capital. Contracting of EPC (Engineering Procurement Construction) to build Paracambi small hydroelectric power plant (PCH) At a meeting held on August 7, 2009, the Board of Directors approved to contract a consortium to build PCH Paracambi. The total cost of this project is approximately R$195 million and works are expected to start next September, and start-up is scheduled for August 2011.

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BOARD OF DIRECTORS MEMBERS SrgioAlair Barroso Djalma Bastos de Morais Eduardo Borges de Andrade Ricardo Coutinho de Sena Carlos Augusto Leone Piani Firmino Ferreira Sampaio Neto Aldo Floris Carlos Roberto Teixeira Junger Elvio Lima Gaspar Jose Luiz Silva Ruy Flaks Schneider ALTERNATES Luiz Fernando Rolla Joo Batista Zolini Carneiro Joo Pedro Amado Andrade Paulo Roberto Reckziegel Guedes Ana Marta Horta Veloso Paulo Jernimo Bandeira de Mello Pedrosa Lauro Alberto de Luca Ricardo Simonsen Joaquim Dias de Castro Carmen Lcia Claussen Kanter Almir Jos dos Santos

FISCAL COUNCIL MEMBERS Ari Barcelos da Silva Isabel da Silva Ramos Kemmelmeier Eduardo Grande Bittencourt Maurcio Wanderley Estanislau da Costa Aristteles Luiz Menezes Vasconcellos Drummond ALTERNATES Eduardo Gomes Santos Leonardo George de Magalhes Ricardo Genton Peixoto Mrcio Cunha Cavour Pereira de Almeida Joo Procpio Campos Loures Vale

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BOARD OF EXECUTIVE OFFICERS Jos Luiz Alqures Chief Executive Officer Ronnie Vaz Moreira Vice Chief Executive Officer and Investor Relations Officer Roberto Manoel Guedes Alcoforado Vice Chief Operations and Clients Officer Paulo Henrique Siqueira Born Officer Ana Silvia Corso Matte Officer Luiz Fernando de Almeida Guimares Officer

Paulo Roberto Ribeiro Pinto Officer CONTROLLERSHIP AND PLANNING SUPERINTENDENCE Elvira Madruga B Cavalcanti Luciana Maximino Maia Controllership and Planning Superintendence CPF 590.604.504-00 ACCOUNTANT Accounting Manager CPF 114.021.098-50 CRC-RJ 091476/O-0

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