<SEC-DOCUMENT>0001292814-14-001422.txt : 20140624
<SEC-HEADER>0001292814-14-001422.hdr.sgml : 20140624
<ACCEPTANCE-DATETIME>20140606144458
ACCESSION NUMBER:		0001292814-14-001422
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20140331
FILED AS OF DATE:		20140606
DATE AS OF CHANGE:		20140606

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP
		CENTRAL INDEX KEY:			0001170858
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31317
		FILM NUMBER:		14896270

	BUSINESS ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
		BUSINESS PHONE:		011-55-11-3388-8000

	MAIL ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sbsitr1q14_6k.htm
<DESCRIPTION>ITR 1Q14
<TEXT>

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   <TITLE>sbsitr1q14_6k.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, DC 20549 </B></FONT></DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORM 6-K</B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>REPORT OF FOREIGN ISSUER</B><BR><B>PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SECURITIES EXCHANGE ACT OF 1934</B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center>

<DIV><FONT color=#000000 size=2 face="Times New Roman"><B>For&nbsp;June 1, 2014</B></FONT></DIV><FONT color=#000000 size=2 face="Times New Roman"><B>(Commission File No. 1-31317) </B></FONT></DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Exact name of registrant as specified in its charter) </I></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Basic Sanitation Company of the State of Sao Paulo - SABESP </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Translation of Registrant's name into English) </I></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

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<BR>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>Rua Costa Carvalho, 300 <BR>S&#227;o Paulo, S.P., 05429-900 <BR>Federative Republic of Brazil </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Address of Registrant's principal executive offices) </I></FONT></DIV><BR>

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<BR>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark whether the registrant files or will file <BR>annual reports under cover Form 20-F or Form 40-F. <BR><BR>Form 20-F ___X___ Form 40-F ______</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(1)__.</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(7)__.</FONT></DIV>

<P align=center><FONT size=2 face="'Times New Roman, Times, Serif'">Indicate by check mark whether the registrant by furnishing the <BR>information contained in this Form is also thereby furnishing the <BR>information to the Commission pursuant to Rule 12g3-2(b) under <BR>the Securities Exchange Act of 1934. <BR><BR>Yes ______ No ___X___</FONT></P>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">If "Yes" is marked, indicated below the file number assigned to the<BR>registrant in connection with Rule 12g3-2(b):</FONT> </DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 32.75pt" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<H1 style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Table of Contents</FONT></B></H1>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Company Information</FONT></B></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Capital Breakdown</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>1</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Cash Proceeds</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>2</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements </FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <TD style="BORDER-BOTTOM: #bfbfbf 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; PADDING-TOP: 0in">

   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Statement of Financial Position &#8211; Assets</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>3</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Statement of Financial Position &#8211; Liabilities</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>4</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Statement of Income</FONT></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Statement of Comprehensive Income</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>7</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Statement of Cash Flows</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>8</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Statement of Changes in Equity</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>1/1/2014 to 3/31/2014</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>10</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>1/1/2013 to 3/31/2013</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>11</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Statement of Value Added</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>12</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>13</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Notes to the Financial Statements</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>21</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Comments on the Company&#8217;s Projections</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>77</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Other Information Deemed as Relevant by the Company</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>78</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Reports and Statements</FONT></B></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Unqualified Report on Special Review</FONT></FONT></P></TD>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Company Information / Capital Breakdown</FONT></B></P>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Number of Shares</FONT></B></P>

   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(Units)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3/31/2014</FONT></B></P></TD>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Paid-in Capital</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Common</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>683,509,869</FONT></P></TD>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Preferred</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>0</FONT></P></TD>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Total</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>683,509,869</FONT></P></TD>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Treasury Shares</FONT></B></P></TD>

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   <P style="MARGIN: 6pt 0in 3pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Common</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>0</FONT></P></TD>

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   <P style="MARGIN: 6pt 0in 3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 3pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>0</FONT></P></TD>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>1</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Company Information / Cash Proceeds</FONT></B></P>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Type of Share</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Earnings per Share</FONT></B></FONT></P>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Board of Directors&#8217; Meeting</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3/27/2014</FONT></FONT></P></TD>

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   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Interest on Shareholders&#8217; Equity</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #a6a6a6 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Common</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: #a6a6a6 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #a6a6a6 1pt dashed; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 150%; MARGIN: 0in 4.25pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 150%"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>0.78633</FONT></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>2</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 32.75pt" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Financial Position - Assets</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(R$ thousand)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 1.4pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt 1.4pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3/31/2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>12/31/2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Total Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>28,790,511</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt 53.2pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28,274,294</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Current Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>3,388,070</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 58.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,254,087</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Cash and Cash Equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>1,982,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 58.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,782,001</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>1,149,609</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 58.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,254,908</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Trade Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>1,017,862</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 58.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,120,053</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>131,747</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>134,855</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.03.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Balances with Related Parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>131,747</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>134,855</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>54,111</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>58,401</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Recoverable Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>17,841</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>87,405</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Current Recoverable Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>17,841</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>87,405</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Current Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>184,037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>71,372</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.08.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>184,037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>71,372</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.08.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Restricted Cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>97,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,333</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.01.08.03.20</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>86,979</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>61,039</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Noncurrent Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>25,402,441</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.2pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>25,020,207</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Long-Term Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>915,736</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>896,781</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>401,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>395,512</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.03.01</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Trade Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>401,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>395,512</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Deferred Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>128,309</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>114,030</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Deferred Income Tax and Social Contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>128,309</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>114,030</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Receivables from Related Parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>120,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>130,457</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.08.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Receivables from Controlling Shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>120,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>130,457</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Noncurrent Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>265,346</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>256,782</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.09.04</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Escrow Deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>49,708</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>54,827</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.09.05</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>ANA &#8211; National Water Agency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>117,705</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>107,003</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.01.09.20</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>97,933</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>94,952</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>77,334</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>77,699</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Shareholdings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>23,295</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23,660</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.02.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Shareholdings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>23,295</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23,660</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Investment Properties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>54,039</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>54,039</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Property, Plant and Equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>237,614</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>199,496</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Intangible Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>24,171,757</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.2pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23,846,231</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Intangible Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>24,171,757</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.2pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>23,846,231</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.04.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Concession Contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>8,125,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 58.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,265,936</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.04.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Program Contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>5,642,392</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 58.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,281,887</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.04.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Service Contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>10,193,119</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.2pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,124,603</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1.02.04.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="35%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Software License</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 4.15pt 0pt 62.55pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>210,830</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 65.75pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>173,805</FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 32.75pt" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Financial Position &#8211; Liabilities</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(R$ thousand)</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt 2.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt 2.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3/31/2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>12/31/2013</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Total Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 48.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28,790,511</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0.1in 0pt 37pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28,274,294</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Current Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,967,797</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,972,381</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Labor and Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>368,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>314,926</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21,622</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>36,151</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Labor Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>347,358</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>278,775</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Trade Accounts Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>230,651</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>275,051</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Domestic Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>230,651</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>275,051</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Tax Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>66,895</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>115,382</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Federal Tax Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>61,723</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>108,604</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.03.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Income Tax and Social Contribution Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,611</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.03.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>PIS-PASEP and COFINS (taxes on revenue) Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,572</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21,797</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.03.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>INSS (social security contribution) Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,599</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,822</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.03.01.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Federal Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>19,941</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>55,985</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.03.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Municipal Taxes Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,172</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,778</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Loans and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>620,654</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>640,940</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Loans and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>410,082</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>560,963</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.04.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>In Domestic Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>182,987</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>344,983</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.04.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>In Foreign Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>227,095</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>215,980</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.04.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>202,594</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>79,977</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.04.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Financing through finance lease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,978</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,149,386</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>994,708</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Payables to Related Parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,692</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,791</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Payables to Controlling Shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,692</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,791</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,147,694</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>992,917</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Dividends and Interest on Equity Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>456,975</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>456,975</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Services Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>423,784</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>323,208</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.02.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Refundable Amounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>27,362</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,543</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.02.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Program Contract Commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>145,428</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>77,360</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.02.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Private Public Partnership &#8211; PPP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>20,644</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>20,241</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.02.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Indemnities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,799</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,895</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.05.02.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>66,702</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>77,695</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>531,231</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>631,374</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Tax, Social Security, Labor and Civil Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>83,303</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>107,554</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Tax Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,059</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,824</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Social Security and Labor Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>45,161</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>62,535</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Civil Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>31,083</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>38,195</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>447,928</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>523,820</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions for Environmental </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>43,853</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 54.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>42,761</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06.02.04</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions for Customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>342,210</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>355,403</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.01.06.02.05</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions for Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>61,865</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 49.5pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>125,656</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Non-Current Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 48.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,414,327</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 37pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,371,112</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Loans and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,753,292</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,809,134</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt 3.15pt"><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Loans and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,977,520</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0.1in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,950,864</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>4</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 32.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="89%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Financial Position &#8211; Liabilities</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(R$ thousand)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="14%">

   <P style="MARGIN: 0in 0in 0pt 2.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="45%">

   <P style="MARGIN: 0in 0in 0pt 2.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Current Quarter</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3/31/2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.15pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>12/31/2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.01.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>In Domestic Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,497,400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,468,291</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.01.01.02</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>In Foreign Currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,480,120</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,482,573</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,376,902</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,475,778</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Financing through finance lease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>398,870</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>382,492</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,098,078</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,012,970</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,098,078</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,012,970</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,360,411</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,327,016</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02.02.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Program Contract Commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>133,030</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>88,678</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02.02.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Private Public Partnership &#8211; PPP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>324,671</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>322,267</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02.02.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Indemnities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,318</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,439</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02.02.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Labor Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,704</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,704</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02.02.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Deferred COFINS and PASEP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>132,354</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>129,849</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.02.02.20</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Payables</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>125,590</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>123,017</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>562,957</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>549,008</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Tax, Pension Plan, Labor and Civil Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>233,981</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>222,030</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04.01.01</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Tax Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>45,084</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>50,869</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04.01.02</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Pension Plan and Labor Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>110,490</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>91,911</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04.01.04</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Civil Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>78,407</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>79,250</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>328,976</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>326,978</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04.02.03</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions for Environmental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>146,658</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>139,928</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04.02.04</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions for Customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>173,933</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>156,212</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.02.04.02.05</FONT><FONT style="LETTER-SPACING: 2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions for Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 71.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>8,385</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>30,838</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 48.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>13,408,387</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,930,801</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Paid-Up Capital </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,203,688</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,203,688</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Capital Reserves</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>124,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>124,255</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.02.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Projects Support</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>108,475</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>108,475</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.02.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Incentive Reserves</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,780</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,780</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Profit Reserve</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,736,389</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,736,389</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Legal Reserve</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>712,992</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>712,992</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.04.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Additional Dividend Proposed</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 66.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>42,862</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>42,862</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.04.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Reserve for Investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 53.7pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,980,535</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,980,535</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Retained Earnings/Accumulated Losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 61.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>2.03.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 4.95pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Comprehensive Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 58.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-133,531</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 42pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-133,531</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter6"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>5</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 32.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="89%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Income</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(R$ thousand)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="10%">

   <P style="MARGIN: 0in 0in 0pt 2.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="44%">

   <P style="MARGIN: 0in 0in 0pt 2.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Current Year </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2014 to 3/31/2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2013 to 3/31/2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Revenue from Sales and/or Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,791,930</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,645,043</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Cost of Sales and/or Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,678,717</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,536,866</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Cost of Sales and/or Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,158,245</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,050,904</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Construction Cost</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-520,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-485,962</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Gross Profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,113,213</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,108,177</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Operating Income/Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-400,708</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-373,036</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Selling Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-156,597</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-141,284</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>General and Administrative Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-200,674</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-240,437</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Operating Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>16,507</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>10,637</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Operating Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,814</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,729</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.04.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>COFINS and PASEP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,307</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,092</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Operating Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-59,576</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,802</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Loss on Write-off of Property, Plant and Equipment Items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-45,647</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,666</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.05.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Tax Incentives</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-865</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-135</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.05.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="44%">

   <P style="MARGIN: 2.05pt 0in 0pt 3pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>Provision for losses - Diadema and Saned</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-13,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.05.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.04.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Equity in the Earnings (Losses) of Subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-368</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-150</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Income Before Financial Result and Taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>712,505</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>735,141</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Financial Result</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>27,519</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>27,309</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Finance Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>96,508</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>93,368</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.06.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Finance Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>96,852</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>93,403</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.06.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Foreign Exchange Gains </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-344</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-35</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.06.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Finance Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-68,989</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-66,059</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.06.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Finance Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-185,998</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-195,662</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.06.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Foreign Exchange Losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>117,009</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>129,603</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Earnings Before Income Tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>740,024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>762,450</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Income Tax and Social Contribution </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-262,438</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-266,249</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.08.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-276,717</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-287,541</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.08.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Deferred</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,279</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>21,292</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Net Result from Continued Operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>496,201</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Profit/Loss for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>496,201</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.99</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Earnings per Share - (Reais / Share)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.99.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Basic Earnings per Share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.99.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Common Share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0.69873</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0.72596</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.99.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Diluted Earnings per Share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>3.99.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.75pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Common Share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0.69873</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 8.35pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0.72596</FONT></P></TD></TR>

<TR>

   <TD width="10%">&nbsp;</TD>

   <TD width="44%">&nbsp;</TD>

   <TD width="24%">&nbsp;</TD>

   <TD width="21%">&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>6</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 32.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="89%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements / Statement of Comprehensive Income</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(R$ thousand)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="7%">

   <P style="MARGIN: 0in 0in 0pt 2.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="41%">

   <P style="MARGIN: 0in 0in 0pt 2.8pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Current Year </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2014 to 3/31/2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2013 to 3/31/2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>4.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Net Income for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt 43.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt 43.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>496,201</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>4.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="41%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 1.9pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Comprehensive Income for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.05pt 0in 0pt 43.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="24%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 43.25pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>496,201</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>7</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 32.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="89%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" lang=PT-BR color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Cash Flows &#8211; Indirect Method</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>&nbsp;(R$ thousand)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="14%">

   <P style="MARGIN: 0in 0in 0pt 1.4pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="48%">

   <P style="MARGIN: 0in 0in 0pt 1.4pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Current Year </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2014 to 3/31/2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2013 to 3/31/2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Net Cash from Operating Activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>806,862</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>643,326</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Cash from Operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,261,463</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,067,913</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Profit Before Income Tax and Social Contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>740,024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>762,450</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provision and Inflation Adjustments on Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>18,881</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>106,873</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Financial Charges from Customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-42,106</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-48,543</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Residual Value of Written-off Property, Plant and Equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>370</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>474</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Depreciation and Amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>260,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>195,165</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Interest on Loans and Financing Payable </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>109,137</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>102,818</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Monetary and Foreign Exchange Variation on Loans and Financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-83,982</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-105,455</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Interest and Monetary Variation on Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,535</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Interest and Monetary Variation in Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-7,792</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Allowance for Doubtful Accounts </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>37,401</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provision for Consent Decree (TAC)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,732</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,600</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Equity in the Earnings of Subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>368</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>150</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provision for Sabesprev Mais</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,877</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>3,123</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Provisions/Reversals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>45,277</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="POSITION: relative; TOP: 0.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.16</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Transfer of Funds to S&#227;o Paulo Municipal Government</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>89,511</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-6,399</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Gross Margin over Intangible Assets Resulting from Concession Contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-10,755</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-9,647</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>72,324</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>65,493</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.01.20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Adjustments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>35,831</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-41,333</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Changes in Assets and Liabilities </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-81,567</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-130,999</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Trade Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>123,704</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-38,077</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Balances and Transactions with Related Parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>12,896</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,967</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Inventories</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>4,051</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,402</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Recoverable Taxes </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-9,911</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Accounts Receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-39,623</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-18,239</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Escrow Deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>5,119</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-2,080</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Contractors and Suppliers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-5,028</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-31,765</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.09</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Payroll, Provisions and Social Contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>47,445</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>35,634</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Pension Plan Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-38,929</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-32,702</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.11</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Taxes and Contributions Payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-61,779</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-58,196</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Services Received</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>87,576</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>42,249</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-114,429</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 0.75in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-2,889</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-105,075</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 49pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-36,343</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.02.15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Deferred COFINS/PASEP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,505</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,951</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="48%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-373,034</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 44pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-293,588</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>8</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 32.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="89%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" lang=PT-BR color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Cash Flows &#8211; Indirect Method</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>&nbsp;(R$ thousand)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="13%">

   <P style="MARGIN: 0in 0in 0pt 1.4pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="49%">

   <P style="MARGIN: 0in 0in 0pt 1.4pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Current Year </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2014 to 3/31/2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2013 to 3/31/2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Interest Paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-179,173&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 44pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-171,400&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.01.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Income Tax and Social Contribution Paid</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-193,861&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 44pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-122,188&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Net Cash from Investing Activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-604,639&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 44pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-402,169&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Acquisition of Property and Equipment </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-7,471&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-4,333&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Acquisition of Intangible Assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-510,440&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 44pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-451,316&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Increase in Investment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-3&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-346</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Restricted Cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 50.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-86,725&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 0in 0pt 52pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>53,826&nbsp;&nbsp;</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Net Cash from Financing Activities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,752</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-30,096</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Funding - Loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>198,444</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,194,758</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Amortization of Loans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-184,930</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,189,451</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.03.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Public-Private Partnership &#8211; PPP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-4,912</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-10,481</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.03.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Program Contract - Commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-10,354</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-24,922</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Increase (Decrease) in Cash and Cash Equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>200,471</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>211,061</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Opening Cash and Cash Equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,782,001</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,915,974</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="LINE-HEIGHT: 13pt; TEXT-INDENT: -5.85pt; MARGIN: 0.8pt 0in 0pt 6.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>6.05.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="49%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 2.6pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Closing Cash and Cash Equivalents </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,982,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 2.65pt 0pt 45.45pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,127,035</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>9</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 32.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="89%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Changes in Equity &#8211; 1/1/2014 to 3/31/2014</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(R$ thousand)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="6%">

   <P style="MARGIN: 0in 0.05in 0pt 2.1pt"><B><FONT style="LETTER-SPACING: -0.2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="27%">

   <P style="MARGIN: 0in 0in 0pt 2.1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.35pt 0pt 7.9pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Paid-up Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 0.4pt; MARGIN: 0in 2.35pt 0pt 0.1in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Capital Reserves, Options Granted and Treasury Shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.35pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Profit Reserves</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 0.2pt; MARGIN: 0in 4.5pt 0pt 10.6pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Retained Earnings/ Accumulated Losses</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -0.2pt; MARGIN: 0in 2.35pt 0pt 5.55pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Comprehensive Income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.6pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Total Equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-INDENT: -0.9pt; MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="27%">

   <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Opening Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>6,203,688</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>124,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,736,389</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>-133,531</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 1.9pt 0in 0pt 43.05pt"><FONT style="LETTER-SPACING: 0pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>12,930,801&nbsp;</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-INDENT: -0.9pt; MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="27%">

   <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Restated Opening Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>6,203,688</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>124,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,736,389</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>-133,531</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="MARGIN: 1.9pt 0in 0pt 43.05pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>12,930,801</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-INDENT: -0.9pt; MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="27%">

   <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Total Comprehensive Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>477,586</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-INDENT: -0.9pt; MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="27%">

   <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Net Income for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>477,586</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="6%">

   <P style="TEXT-INDENT: -0.9pt; MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="27%">

   <P style="MARGIN: 1.45pt 0pt 0pt 2.7pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Closing Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>6,203,688</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>124,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.65pt 3.1pt 0pt 26.95pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>6,736,389</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>-133,531</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.9pt 3.1pt 0pt 26.95pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>13,408,387</FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Changes in Equity&#8211; 1/1/2013 to 3/31/2013</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(R$ thousand)</FONT></B></P>

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<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="8%">

   <P style="MARGIN: 0in 0.05in 0pt 2.1pt"><B><FONT style="LETTER-SPACING: -0.2pt; FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="29%">

   <P style="MARGIN: 0in 0in 0pt 2.1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.35pt 0pt 7.9pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.35pt 0pt 7.9pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Paid-up Capital</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 0.4pt; MARGIN: 0in 2.35pt 0pt 0.1in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Capital Reserves, Options Granted and Treasury Shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Profit Reserves</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 0.2pt; MARGIN: 0in 4.5pt 0pt 10.6pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Retained Earnings/ Accumulated Losses</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: -0.2pt; MARGIN: 0in 2.35pt 0pt 0.9pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Comprehensive Income</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.1pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Total Equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Opening Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>6,203,688</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>124,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>5,387,634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>-458,815</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; TEXT-INDENT: 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>11,256,762 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Restated Opening Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>6,203,688</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>124,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>5,387,634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>-458,815</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; TEXT-INDENT: 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="LETTER-SPACING: 0pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>11,256,762</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Total Comprehensive Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>496,201</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; TEXT-INDENT: 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 2.7pt 0in 0pt 52.75pt"><FONT style="LETTER-SPACING: 0pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>496,201</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.05.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Net Income for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>496,201</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; TEXT-INDENT: 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 2.7pt 0in 0pt 52.75pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>496,201</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>5.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="29%">

   <P style="MARGIN: 1.45pt 0pt 0pt 3.3pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Closing Balances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>6,203,688</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>124,255</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>5,387,634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>496,201</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; TEXT-INDENT: 1pt; MARGIN: 0in 0.1in 0pt 0in" align=right><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>-458,815</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; TEXT-INDENT: 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="1%">

   <P style="MARGIN: 2.7pt 0in 0pt 43.05pt"><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 8pt" lang=EN-US color=#231f20 face=arial,sans-serif>11,752,963</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>11</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 32.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="89%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR - Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="TEXT-ALIGN: center; TEXT-INDENT: -17.05pt; MARGIN: 0in 0pt 0pt 17.05pt" align=center><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; HEIGHT: 32.75pt; PADDING-TOP: 0in" vAlign=top width="11%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Parent Company&#8217;s Financial Statements/Statement of Value Added </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(R$ thousand)</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="14%">

   <P style="MARGIN: 0in 0in 0pt 2.1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Code</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="50%">

   <P style="MARGIN: 0in 0in 0pt 2.1pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Description</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Current Year </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2014 to 3/31/2014</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>YTD Previous Year</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0.1in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>1/1/2013 to 3/31/2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,978,779</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,788,784</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Operating Revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,444,431</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>2,318,847</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other Revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,814</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>11,729&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Revenue from the Construction</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>531,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 3.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>495,609&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.01.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Allowance for/Reversal of Doubtful Accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-14,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-37,401</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Inputs Acquired from Third Parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,200,585</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,077,357</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Costs of Sales and Services </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-969,782</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-901,992</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Materials, Energy, Outsourced Services and Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-171,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-173,563</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.02.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-59,576</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-1,802</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Gross Value Added</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,778,194</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,711,427</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Retentions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-260,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-195,165</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.04.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Depreciation, Amortization and Depletion</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-260,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-195,165</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Net Value Added Produced</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,517,936</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,516,262</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Value Added Received through Transfer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>96,140</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>93,218</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.06.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Equity in the Earnings (Losses) of Subsidiaries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-368</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>-150</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.06.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Finance Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>96,508</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>93,368</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Total Value Added to Distribute</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,614,076</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,609,480</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Value Added Distribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,614,076</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>1,609,480</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Personnel</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>456,256</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>417,667</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.01.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Direct Compensation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>301,277</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>280,689</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.01.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>126,207</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>114,333</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.01.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Government Severance Indemnity Fund for Employees (FGTS)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28,772</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>22,645</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Taxes and Contributions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>555,324</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>556,465</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.02.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Federal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>531,298</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>513,686</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.02.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>State</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>16,303</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>14,387</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.02.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Municipal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>7,723</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>28,392</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Value Distributed to Providers of Capital</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>124,910</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 12.75pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>139,147</FONT></P></TD></TR>

<TR style="HEIGHT: 14.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.03.01</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.85pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Interest</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.85pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>107,137</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>123,718</FONT></P></TD></TR>

<TR style="HEIGHT: 9.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.03.02</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Rental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>17,773</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>15,429</FONT></P></TD></TR>

<TR style="HEIGHT: 9.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.04</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Value Distributed to Shareholders</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>496,201</FONT></P></TD></TR>

<TR style="HEIGHT: 9.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.15pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>7.08.04.03</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="50%">

   <P style="LINE-HEIGHT: 13pt; MARGIN: 0.8pt 0in 0pt 3.5pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>Retained Earnings/Accumulated Loss for the Period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 9.45pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 1.4pt 6.9pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>496,201</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>1. Financial highlights</FONT></B></P>

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<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(+) Gross operating revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>2,318.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>2,444.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>125.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.4 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(+) Construction revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>495.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>531.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>35.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>7.2 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(-) COFINS and PASEP taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>169.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>183.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>14.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>8.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(=) Net operating revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>2,645.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>2,792.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>147.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(-) Costs and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1,432.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1,515.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>82.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(-) Cunstruction costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>486.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>520.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>34.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>7.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(+) Equity result</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(0.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(0.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(0.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(+) Other operating revenue/expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>8.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(43.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(51.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(=) Earnings before financial result, income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>735.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>712.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(22.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(3.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(+) Net financial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>27.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>27.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>0.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>0.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(=) Earnings before income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>762.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>740.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(22.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(2.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(+) Income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(266.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(262.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>3.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(1.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Net Income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>496.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>477.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(18.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(3.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Earnings per share (R$)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>0.73 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>0.70 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" face=arial,sans-serif>* Total shares = 683,509,869</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR></TABLE>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 6pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>Adjusted EBITDA Reconciliation&nbsp;(Non-accounting measures)</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt" align=center>&nbsp;</P>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Net income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>496.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>477.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(18.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(3.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(+) Income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>266.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>262.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(3.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(1.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(+) Net financial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(27.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(27.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(0.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>0.7 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(+) Other operating revenues/expenses</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(8.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>43.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>51.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>- </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="58%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>(=) Earnings before financial result (EBIT)*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>726.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>755.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>29.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.0 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(+) Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>195.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>260.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>65.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>33.3 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(=) Adjusted EBITDA **</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>921.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1,015.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>94.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>10.2 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(%) Adjusted EBITDA margin</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>34.8 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>36.4 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt" align=center>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.55pt 0pt 0in"><FONT style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>(*) </FONT><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>Earnings before interest, income tax and social contribution.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(**) Adjusted EBITDA is net income before: (i) depreciation and amortization; (ii) income tax and social contribution; (iii) financial result; and (iv) other operating revenues/expenses, net.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>In 1Q14, net operating revenue reached R$ 2.8 billion; a 5.6% increase compared to 1Q13. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Costs and expenses, including construction costs, increased 6.1%, from R$ 1.9 billion in 1Q13 to R$ 2.0 billion this quarter.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>EBIT grew 4.0%, from R$ 726.3 million in 1Q13 to R$ 755.6 million in 1Q14.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Adjusted EBITDA increased 10.2%, from R$ 921.5 million in 1Q13 to R$ 1,015.8 million in 1Q14.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The adjusted EBITDA margin moved from 34.8% in 1Q13 to 36.4% in 1Q14. Excluding construction revenues and construction costs, the adjusted EBITDA margin was 44.5% in 1Q14 (42.4% in 1Q13).</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Net income dropped 3.7%, from R$ 496.2 million in 1Q13 to R$ 477.6 million in 1Q14.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>2. Gross operating revenue</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Gross operating revenue from water and sewage grew from R$ 2.3 billion in 1Q13 to R$ 2.4 billion in 1Q14, an increase of R$ 125.7 million or 5.4%. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The main factors that led to this variation were: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 6pt 0in 0pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Increase of 5.2% in the Company&#8217;s total billed volume (4.9% in water and 5.5% in sewage); and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 6pt 0in 0pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Average effect of the 5.3% tariff adjustment</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 6pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The tariff adjustments in 2013 were</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 6pt 0in 0pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>The tariff repositioning index of 2.35% applied since April 2013; and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 6pt 0in 0pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Tariff adjustment of 3.1% since December 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The increases mentioned above were partially offset by the higher reversion of estimated revenue in 1Q14, in the amount of R$ 75.6 million, compared to 1Q13 and by higher provision for revenue losses on the wholesale basis, in the amount of R$ 39.6 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif><BR>3. Construction revenue</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=Arial,sans-serif><BR></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Construction revenue increased R$ 35.6 million or 7.2%, when compared to 1Q13. The variation was mainly due to higher investments in 1Q14. </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>4. Billed volume</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>The following tables show the water and sewage billed volume, quarter-on-quarter, per customer category and region.</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>14</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt">&nbsp;</P>

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<TR style="HEIGHT: 15pt">

   <TD style="BORDER-BOTTOM: #333399 1.5pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="100%" colSpan=10 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>WATER AND SEWAGE BILLED VOLUME <SUP>(1)</SUP> PER CUSTOMER CATEGORY - million m<SUP>3</SUP></FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" colSpan=3 noWrap align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=#ffffff face=arial,sans-serif>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>Water</FONT></B></P></FONT></B></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" colSpan=3 noWrap align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>Sewage</FONT></B></P></FONT></B></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" colSpan=3 noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>Water + Sewage</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Category</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Residential</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>389.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>410.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>321.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>340.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>710.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>750.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Commercial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>43.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>44.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>40.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>42.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>83.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>86.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Industrial</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>9.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>10.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>6.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>10.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>11.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>20.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>21.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.9 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Public</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>12.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>13.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>6.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>10.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>10.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>23.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>24.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.7 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Total retail</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>454.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>479.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>381.9 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>404.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>836.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>883.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.6 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Wholesale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>74.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>75.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>7.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>6.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(9.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>81.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>82.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>0.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>529.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>554.9 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.9 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>389.2 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>410.7 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.5 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>918.3 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>965.6 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.2 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="BORDER-BOTTOM: #333399 1.5pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 15pt; PADDING-TOP: 0cm" vAlign=bottom width="100%" colSpan=10 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>WATER AND SEWAGE BILLED VOLUME <SUP>(1)</SUP> PER REGION - million m<SUP>3</SUP></FONT></B></P></TD></TR>

<TR style="HEIGHT: 13.5pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="30%" colSpan=3 noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>Water</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" colSpan=3 noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>Sewage</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 13.5pt; PADDING-TOP: 0cm" vAlign=bottom width="29%" colSpan=3 noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>Water + Sewage</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Region</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=#ffffff face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Metropolitan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>296.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>308.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>252.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>262.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>549.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>571.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 14.25pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Regional<SUP> (2)</SUP></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>157.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>170.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>8.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>129.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>141.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>9.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>287.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>311.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.25pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>8.5 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Total retail</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>454.6 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>479.4 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>381.9 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>404.1 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.8 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>836.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>883.5 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.6 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Wholesale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>74.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>75.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>7.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>6.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(9.6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>81.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>82.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>0.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>529.1 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>554.9 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.9 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>389.2 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>410.7 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.5 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>918.3 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>965.6 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #1f497d 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="9%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.2 </FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp; (1) Unaudited</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 21.55pt 0pt 0in"><FONT style="TEXT-TRANSFORM: none; FONT-SIZE: 8pt" lang=EN-US face=arial,sans-serif>&nbsp;&nbsp; (2) Including coastal and countryside</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 14pt" lang=EN-US color=navy face=Arial,sans-serif>5. Costs, administrative and selling expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>In 1Q14, costs, administrative and selling expenses, grew 6.1% (R$ 117.4 million). Excluding construction costs, total costs and expenses grew 5.8%. As a percentage of net revenue, cost and expenses moved from 72.5% in 1Q13 to 72.9% in 1Q14.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt">&nbsp;</P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 9pt" face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #333399; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>Chg. (R$)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Payroll and benefits</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>461.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>496.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>34.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>7.6 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Supplies</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>44.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>47.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>2.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>6.3 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Treatment supplies</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>64.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>69.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>4.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>7.4 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>228.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>314.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>86.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>37.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Electric power</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>144.8 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>140.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(4.8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(3.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>215.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>152.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(62.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(29.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Tax expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>40.1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>19.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(20.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(50.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Sub-total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1,200.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1,240.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>40.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>3.4 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Depreciation and amortziation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>195.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>260.2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>65.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>33.3 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Credit write-offs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>37.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>14.7 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(22.7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>(60.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Sub-total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>232.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>274.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>42.3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>18.2 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Costs and expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1,432.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1,515.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>82.9 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>5.8 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>Construction costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>486.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>520.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>34.5 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>7.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>Costs, adm., selling and construction expenses</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif></FONT><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>1,918.6 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>2,036.0 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>117.4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>6.1 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>% of net revenue</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>72.5 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>72.9 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: #f2f2f2; HEIGHT: 12.75pt; PADDING-TOP: 0cm" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 10pt" face=arial,sans-serif>- </FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.1. Payroll and benefits</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>In 1Q14 payroll and benefits grew R$ 34.9 million or 7.6%, from R$ 461.8 million to R$ 496.7 million, due to the following: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>8.0% increase in wages since May 2013 and the&nbsp; implementation of the Company&#8217;s new career and wage plan carried out by the Company, with an impact of approximately R$ 24.0 million; </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>R$ 5.7 million upturn in the provision for the Pension Plan, arising from changes in actuarial assumptions;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>R$ 4.0 million increase from the higher number of employees who are entitled to request retirement (TAC); and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>R$ 2.3 million increase in meal expenses, mainly due to the 13.6% adjustment on meal voucher in May 2013, settled in the collective bargaining agreement</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.2. Supplies</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>In 1Q14, expenses with supplies increased by R$ 2.8 million or 6.3%, when compared to the previous year, from R$ 44.3 million to R$ 47.1 million, mostly due to:</FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Preventive and corrective maintenance in several water and sewage systems, in the amount of R$ 1.6 million; and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Expenses with fuel and lubricants, in the amount of R$ 1.1 million, from the increase in prices of diesel and ethanol in March and November, 2013, in addition to increased mileage traveled.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.3. Treatment supplies</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Treatment supplies expenses in 1Q14 were R$ 4.8 million or 7.4% higher than in 1Q13, from R$ 64.9 million to R$ 69.7 million. The main factors for this variation were:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 12pt 0in 6pt 0.25in"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Increase in the consumption of aluminum polychloride, in the amount R$ 1.9 million, essentially in the </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Rodolfo Costa e Silva, Guara&#250;, Campo Limpo Paulista, Presidente Prudente and Hortol&#226;ndia </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Water Treatment Stations (WTS) with an upturn of 40.0% in the average cost</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -21.3pt; MARGIN: 12pt 0in 6pt 21.3pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Increase of R$ 1.8 million in the consumption of aluminum sulfate, due to the decline in the quality of untreated water in the Casa Grande and Rio Claro WTS, with a 15.5% increase in consumption and of 38.6% in the average cost.; and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 12pt 0in 6pt 0.25in"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Increase of R$ 1.2 million in the consumption of Sodium hypochlorite,&nbsp;with a 20.6% increase in consumption and of 11.4% in the average cost. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.4. Services</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif><BR>Services grew R$ 86.0 million or 37.6%, from R$ 228.7 million in 1Q13 to R$ 314.7 million in 1Q14. The main factors were:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Reversal of provision in the amount of R$ 41.4 million, due to the end of the agreement settled with the S&#227;o Paulo Municipal Government in 1Q13, non-recurring</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Expenses with legal services in the amount of R$ 13.0 million, regarding the agreement for the resumption of the operation in the municipality of Diadema;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Expenses with risk contracts for credit recovery, in the amount of R$ 8.4 million. As a result of these contracts, collection initiatives generated an increase of R$ 51.8 million in revenue in 1Q14;</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>M</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>aintenance in the water and sewage network connections, in the amount of R$ 6.5 million, mainly due to the </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>intensification of water loss prevention and the execution of services in several areas of the S&#227;o Paulo Metropolitan Region;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Maintenance of software and equipment, in the amount of R$ 5.5 million</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Hydrometer reading and bill delivery expenses in the amount of R$ 2.7 million, as a result of the new contracts with services expansion, such as: property inspections, service requests, analysis of outstanding debt and revision of bills;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Hiring of consultancy, advisory and specialized services, with a R$ 2.7 million increase, mainly comprising: (i) SiiS project &#8211; Sabesp integrated information system, support, updates, maintenance services and information safety management training; and (ii) value generation project through GVA system; and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Preventive and corrective maintenance in the water and sewage systems in the amount of R$ 2.4 million.</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.5. Electric power</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>This item decreased R$ 4.8 million, or 3.3%, from R$ 144.8 million in 1Q13 to R$ 140.0 million this quarter, mainly due to the average reduction of 14.0% in regulated market and distribution grid tariffs, and partially offset by the average increase of 7.1% in free market tariffs associated with the upturn in consumption volume in 1Q14.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif><BR>5.6. General expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>General expenses dropped by R$ 62.7 million or 29.1%, from R$ 215.4 million in 1Q13 to R$ 152.7 million in 1Q14, due to the following:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.5in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Decrease in the provision for lawsuits in the amount of R$ 59.6 million, mainly related to civil (R$ 32.1 million), environmental (R$ 19.9 million) and labor (R$ 6.2 million) contingencies; and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.5in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Agreements for environmental compensation, in the amount of R$ 17.3 million</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif> in 1Q13</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.5in"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>These decreases were offset, in part, by</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.5in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>Provision for unrecoverable losses in the amount of R$ 4.1 million</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.5in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>R$ 3.3 million in provision related to the transfer to the municipal fund, pursuant to the Service Agreement with the S&#227;o Paulo Municipal Government, as a result of the increase in revenues; and</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 6pt 0.5in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=Arial,sans-serif>R$ 3.3 million due to institutional support aiming the rational use of water</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 6pt 0.25in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.7. Depreciation and Amortization</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Depreciation and amortization increased R$ 65.0 million or 33.3%, from R$ 195.2 million in 1Q13 to R$ 260.2 million in 1Q14, due to the beginning of operations of intangible assets, in the amount of R$ 1.8 billion.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=navy face=Arial,sans-serif>5.8. Credit write-offs</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Credit write-offs decreased R$ 22.7 million or 60.7%, from R$ 37.4 million in 1Q13 to R$ 14.7 million in 1Q14, chiefly due to the lower provision for possible loan losses and higher recoveries through agreements.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>5.9. Tax expenses</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>In 1Q14, there was a decrease of R$ 20.4 million or 50.9%, chiefly due to increase tax expenses in 1Q13.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=Arial,sans-serif>6. Other operating revenues/expenses, net</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>6.1. Other operating revenues</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>R$ 5.9 million increase mainly due to revenue from the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Rational Water Use Program (PURA) in 1Q14.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>6.2. Other operating expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>R$ 57.8 million increase in other operating expenses due to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>Provision for the write-off of works and projects in the amount of R$ 31.4 million</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=navy face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>Provision for losses regarding </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>&nbsp;contractual payments related to the agreement with the municipality of Diadema</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>, in the amount of R$ 13.0 million; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=navy face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Provision for the write-off of hydrometers in the amount of R$ 11.6 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=Arial,sans-serif>7. Net Financial </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt">&nbsp;</P>

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   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Var.</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial expenses, net of revenues</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(77.8)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(65.6)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>12.2 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(15.7)</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Net monetary and exchange variation</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>105.1</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>93.1 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(12.0)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: white; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(11.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Net financial</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>27.3 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>27.5 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>0.2 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>0.7 </FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>7.1. Financial revenues and expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<TABLE style="MARGIN-LEFT: 0pt; WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <TD style="HEIGHT: 17.25pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17.25pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="HEIGHT: 17.25pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q14</FONT></B></P></TD>

   <TD style="HEIGHT: 17.25pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Var.</FONT></B></P></TD>

   <TD style="HEIGHT: 17.25pt; BACKGROUND: #333399; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial expenses</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Interest and charges on domestic loans and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(82.5)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(82.2)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>0.3 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(0.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Interest and charges on international loans and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(18.4)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(24.4)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(6.0)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>32.6 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other financial expenses</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(41.3)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(30.5)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>10.8 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(26.2)</FONT></P></TD></TR>

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   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="59%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total financial expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(142.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(137.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>5.1 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(3.6)</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial revenues</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>64.4 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>71.5 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>7.1 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>11.0 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Financial expenses net of revenues</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(77.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(65.6)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>12.2 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(15.7)</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 6pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>7.1.1. Financial expenses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: none" color=black face=arial,sans-serif>Financial expenses dropped R$ 5.1 million or 3.6%. The main reasons were:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: none" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>R$ 10.8 million decrease in other financial expenses, chiefly due to: (i) lower interest due to lower need of provision for lawsuits, in the amount of R$ 20.3 million; and (ii) costs with funding in the amount of R$ 3.9 million, due to the early settlement of the balance of the 11<SUP>th</SUP> debenture issue in March 2013; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" face=Arial,sans-serif>R$ 6 million increase in interest and charges on international loans and financing, due to the increase in total debt, from higher funding, specially the BID loan.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>18</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt" vAlign=top width="9%">

<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>7.1.2. Financial revenues</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Financial revenues increased by R$ 7.1 million or 11.0%, due to the higher interest rate from financial investments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>7.2. Net monetary variation</FONT></B></P>

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<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt" vAlign=bottom width="59%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 12.75pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$ million</FONT></I></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #333399" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #333399" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Var.</FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #333399" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Exchange variation on loans and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>129.6 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>117.0 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(12.6)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(9.7)</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Monetary variation on loans and financing</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(24.1)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(33.0)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt" vAlign=bottom width="10%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(8.9)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>36.9 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Other monetary variations</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(29.4)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(15.9)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>13.5 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(45.9)</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Monetary variation on liabilities</FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>76.1 </FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>68.1 </FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(8.0)</FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(10.5)</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Monetary variation on assets</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>29.0 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>25.0 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(4.0)</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(13.8)</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Monetary/exchange variation, net</FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>105.1 </FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>93.1 </FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(12.0)</FONT></B></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(11.4)</FONT></B></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 6pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 4pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>7.2.1. Monetary/currency exchange variation on liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>The effect on the monetary/currency exchange variation on liabilities in 1Q14 was R$ 8.0 million or 10.5% lower than in 1Q13, specially</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>Decrease of R$ 12.6 million in revenues of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>exchange rate variation over loans and financing</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>, mainly deriving from&nbsp; the lower depreciation of the Japanese Yen versus Brazilian Real in 1Q14 of 1.6%, when compared to the 9.7% depreciation in 1Q13; partially offset by the depreciation of the US Dollar versus Brazilian Real of 3.4% in 1Q14, compared to a 1.5% depreciation in 1Q13; and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>R$ 8.9 million increase in monetary variation expenses over domestic loans and financing, especially the series restated by the IPCA rate of the 17<SUP>th</SUP> and 18<SUP>th</SUP> debenture issues in February and December 2013, respectively; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.25in; LINE-HEIGHT: 12pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>R$ 13.5 million decrease in other monetary variation from the lower need for provision for lawsuits</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>7.2.2. Monetary variation on assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Monetary variation on assets decreased by R$ 4.0 million in 1Q14, chiefly due to monetary adjustment in 1Q13, for the period between the date the 17th issue debenture was issued (January 2013) and the date it was settled (February 2013).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=Arial,sans-serif>8. Income tax and social contribution</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>Income tax and social contribution expenses decreased by R$ 3.8 million, due to the drop in taxable income in the period.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>19</FONT><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Comments on the Company&#8217;s Performance</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt" vAlign=top width="9%">

<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" color=navy face=Arial,sans-serif>9. Indicators</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>9.1. Operating</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>The Company continues to expand its water and sewage connection to serve the population of its operating area, as shown in the chart below</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Regarding the non-revenue water, with the progress of the Corporate Program for Water Loss Reduction the results are already noticeable, with a decrease of the loss ratio to 24.1% this quarter. The Company expects even better results along 2014 and 2015, due to the Program&#8217;s progress</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>.</FONT></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Operating indicators*</FONT></B></P></TD>

   <TD style="HEIGHT: 14.25pt; BACKGROUND: #333399" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q13</FONT></B></P></TD>

   <TD style="HEIGHT: 14.25pt; BACKGROUND: #333399" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Water connections <SUP>(1)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,726 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>7,938 </FONT></P></TD>

   <TD style="HEIGHT: 15pt; BACKGROUND: #f2f2f2" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2.7 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Sewage connections <SUP>(1)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 14.25pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,172 </FONT></P></TD>

   <TD style="HEIGHT: 14.25pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,386 </FONT></P></TD>

   <TD style="HEIGHT: 14.25pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>3.5 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Population directly served - water <SUP>(2)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 14.25pt; BACKGROUND: #f2f2f2" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>24.3 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>24.6 </FONT></P></TD>

   <TD style="HEIGHT: 14.25pt; BACKGROUND: #f2f2f2" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1.2 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Population directly served - sewage <SUP>(2)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 14.25pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>21.1 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>21.6 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2.4 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Number of employees</FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>15,065 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>14,920 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(1.0)</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Water volume produced <SUP>(3)</SUP></FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>762 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>778 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2.1 </FONT></P></TD></TR>

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   <TD style="HEIGHT: 13.5pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid" vAlign=bottom width="57%" noWrap>

   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Non-revenue water (%)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>25.5 </FONT></P></TD>

   <TD style="HEIGHT: 13.5pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>24.1 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(5.5)</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center>&nbsp;</P>

<P style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face=Arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face=Arial,sans-serif>Total connections, active and inactive, in thousand units at the end of the period</FONT></P>

<P style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face=Arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face=Arial,sans-serif>In million inhabitants, at the end of the period. Not including wholesale</FONT></P>

<P style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face=Arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face=Arial,sans-serif>In millions of cubic meters at the end of the period</FONT></P>

<P style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0in; MARGIN-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(*)&nbsp;&nbsp;&nbsp; Unaudited</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 53.4pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-TRANSFORM: uppercase; TEXT-AUTOSPACE: ideograph-numeric" face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=navy face=Arial,sans-serif>9.2. Financial</FONT></B></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>Economic Indexes* (quarter end)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q13</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>1Q14</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Amplified Consumer Price Index (IPCA)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>1.94%</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2.18%</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Referential Rate (TR)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>0.00%</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>0.19%</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Interbank Deposit Certificate (CDI)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>7.01%</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>10.55%</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>US DOLAR (R$)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2.0138 </FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2.2630 </FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>YEN (R$)</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>0.0214 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #f2f2f2; BORDER-BOTTOM: #002060 1pt solid" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>0.02197 </FONT></P></TD></TR></TABLE>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-TRANSFORM: uppercase" face=Arial,sans-serif>(*)&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>Unaudited&nbsp;</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>(All amounts in thousands of Brazilian reais - R$, unless otherwise stated)</FONT></I></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=georgia>1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operations</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=georgia>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo ("SABESP" or the "Company") is a mixed-capital company headquartered in S&#227;o Paulo, at Rua Costa Carvalho, 300, CEP 05429-900, controlled by the S&#227;o Paulo State Government. </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The Company is engaged in the provision of basic and environmental sanitation services in the State of S&#227;o Paulo, as well as it supplies treated water on a wholesale basis</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.&nbsp; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>In addition to providing basic sanitation services in the State of S&#227;o Paulo, SABESP may perform these activities in other states and countries, and can operate in drainage, urban cleaning, solid waste handling and energy markets. The objective set in the new vision of SABESP is to be recognized as the company that ensured universal access to water and sewage services in its marketplace</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> in a sustainable and competitive manner, with excellence in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> customer service.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>On March 31,</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> 2014, </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>the Company operated water and sewage services in 364 municipalities of the State of S&#227;o Paulo. Most of these municipalities operations are based on 30-year concession, program and services contracts. </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The Company has two partial contracts with the municipality of Mogi das Cruzes, however, since most of municipality is serviced by wholesale, it was not included in the </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>364</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> municipalities. On </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>March 31,</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> 2014, the Company had 366 contracts.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>SABESP is not temporarily operating in some municipalities due to judicial orders. The lawsuits in progress refer to &#193;lvares Florense, Cajobi, Emba&#250;ba, Iper&#243; and Macatuba, and the carrying amount of these municipalities' intangible assets was R$11,351 as of March 31,</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> 2014</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>As of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>March 31,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> 2014</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>, 55 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>concession agreements had expired and are being negotiated</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>From</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> 2014 to 2030, 38</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> concession agreements</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>will expire</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Management believes that concession agreements</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>expired and not yet renewed will result in new contracts, disregarding the risk of discontinuity in the provision of municipal water supply and sewage services</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>. By March 31,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> 2014</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>, 273 program and services contracts were signed (266 contracts on December 31, 2013).</FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>As of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>March 31,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> 2014</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>the carrying amount of the underlying assets used in the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> 55 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>concessions of the municipalities under negotiation totaled</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> R$5,904,134, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>accounting for</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> 24.43% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>of total, and the related gross revenue for the quarter then ended totaled</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> R$501,129 on March 31,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> 2014</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>accounting for</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> 16.84% of total.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The Company's operations are concentrated in the municipality of S&#227;o Paulo, which represents</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> 50.29% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>of the gross revenues on </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>&nbsp;March 31,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> 2014</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> (50.57% on March 31, 2013) and 42.21% of intangible assets (42.46% on December 31, 2013).&nbsp; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>On June 23, 2010, the State of S&#227;o Paulo, the municipality of S&#227;o Paulo, the Company and the regulatory agency &#8220;Sanitation and Energy Regulatory Agency &#8211; ARSESP&#8221; signed an agreement to share the responsibility for water supply and sewage services to the Municipality of S&#227;o Paulo based on a 30-year concession agreement. This agreement is extendable for another 30 years, pursuant to the law. This agreement sets forth SABESP as the exclusive service provider and designates ARSESP as regulator, establishing prices, controlling and monitoring services</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.</FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Also, on June 23, 2010, the State of S&#227;o Paulo, the city of S&#227;o Paulo and SABESP signed the &#8220;Public service provision agreement of water supply and sewage services&#8221;, a 30-year concession agreement which is extendable for another 30 years. This agreement involves the following activities</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>i. </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>protection of the sources of water in collaboration with other agencies of the State and the City</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>ii. </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>capture, transport and treat of water</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>iii. </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>collect, transport, treatment and final dispose of&nbsp; sanitary sewage; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>iv. </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>adoption of other actions of basic and environmental sanitation</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>In the municipality of Santos, in the Santos coast region, which has a significant population, the Company operates under an authorization by public deed, a situation similar to other municipalities in that region and in the Ribeira valley, where the Company started to operate after the merger of the companies that formed it</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>. As of March 31, 2014, the carrying amount of the municipality of Santos&#8217; intangible assets was R$335,183 (R$340,530 on December 31,2013) and gross revenue in the three-month period ended March 31, 2014 was R$63,407 (R$65,142 on March 31, 2013).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Article 58 of Law 11,445/07 determines that precarious and overdue concessions, as well as those effective for an undetermined period of time, including those that do not have an instrument formalizing them, will be valid until December 31, 2010. However, Article 2 of Law 12,693 of July 24, 2012 allows program agreements to be executed until December 31, 2016.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>The Company&#8217;s Management understands that the concession agreements not yet renewed are valid and will be governed by Laws 8,987/95 and 11,445/07, including those municipalities served without an agreement.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Public deeds are valid and governed by the Brazilian Civil Code. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The Company's shares have been listed in the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Novo Mercado </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>(New Market) segment of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> BM&amp;FBovespa under the ticker symbol SBSP3 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>since April 2002 and on the New York Stock Exchange (NYSE) as American Depositary Receipts (&#8220;ADRs&#8221;)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> Level III, under the SBS code, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>since May 2002</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>. In 2007, SABESP adhered to the Corporate Sustainability Index, or ISE of BM&amp;FBovespa, which reflects the high level of commitment with sustainable development and social practices.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Since 2008, the Company has been setting up partnerships with other companies, which resulted in the following companies: Sesamm, &#193;guas de Andradina, Saneaqua Mairinque, Aquapolo Ambiental, &#193;guas de Castilho and Attend Ambiental. Although SABESP has no majority interest in the capital stock of these companies, the shareholders&#8217; agreements provide for the power of veto and casting vote in certain issues jointly with associates, indicating the shared control in the management of investees.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The interim financial information was approved by the Board of Directors on May </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>14, 2014</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 105%; TEXT-INDENT: -35pt"><FONT color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Basis of preparation and presentation of the interim financial information</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face=georgia>Presentation of the quarterly financial information</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>The quarterly financial information as of March 31, 2014 was prepared based on the provisions of CPC 21 (R1) &#8211; Interim Financial Information and the international standard IAS 34 &#8211; Interim Financial Reporting, issued by the </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>International Accounting Standards Board (IASB), applicable to the preparation of Quarterly Information Form&#8211; ITR and they are fairly presented consistent with the rules issued by the Brazilian Securities and Exchange Commission (CVM). Therefore, this Interim Financial Information take into consideration the official letter CVM/SNC/SEP 003 of April 28, 2011, which allows the entities to present selected notes to the financial statements, in cases of redundant information already disclosed in the Annual Financial Statements. The quarterly financial information for the period ended March 31, 2014, therefore, does not include all the notes and reporting&nbsp; required by the CPC (&#8220;Brazilian Accounting Pronouncements Committee&#8221;) for the annual financial statements and, accordingly, must be read together with the annual financial statements under CPC and IFRS for the year ended December 31, 2013</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>. </FONT></FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>2.1&nbsp; Accounting policies</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>The accounting policies used in the preparation of the quarterly financial information for the quarter ended March 31, 2014 are consistent with those used to prepare the Annual Financial Statements for the year ended December 31, 2013. These policies are disclosed in Note 3 to the Annual Financial Statements</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Financial Risk Management</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>3.1&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Financial risk factors</FONT></B></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The Company's activities are affected by Brazilian economic scenario</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>, making it </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>exposed to market risk, such as exchange rate, interest rate, credit risk and liquidity risk. The Company&#8217;s financial risk management is focused on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company&#8217;s financial performance</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The Company has not utilized derivative instruments</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> in any of the reported periods</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 17.85pt; LINE-HEIGHT: 110%; TEXT-INDENT: -17.85pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>(a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Market risk</FONT></B></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 9.5pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Foreign currency risk</FONT></B></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>SABESP&#8217;s foreign exchange exposure implies market risks associated with Brazilian Real currency fluctuations against the US dollar and yen. SABESP&#8217;s foreign currency-denominated liabilities mainly include US dollar and yen-denominated loans</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>. </FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>In case of Brazilian </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia> depreciation in relation to foreign currency in which the debt is denominated, SABESP will incur in monetary loss in relation to such debt</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>. </FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>SABESP&#8217;s specific foreign currency risks are related to exposures caused by its current and non-current debts denominated in foreign currency</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>. </FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The management of SABESP&#8217;s foreign currency exposure considers several current and projected economic factors, </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>besides market conditions</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>This risk arises from the possibility that the Company may incur losses due to exchange rate fluctuations that would impact liability balances of foreign currency-denominated loans and financing raised in the market and related financial expenses. </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company does not maintain hedge or swap contracts or any financial instrument to hedge against this risk, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>but conducts an active management of debt, taking advantage of opportunities to change expensive debts with &#8220;cheaper&#8221; debts, reducing the cost through early maturity.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>A significant amount of the Company&#8217;s financial debt is indexed to the U.S. dollar and Yen, in the total amount of R$3,725,273 on March 31, 2014 (R$3,715,645 in December 2013). </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Below, the Company&#8217;s exposure to foreign exchange risk</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31,2014</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Foreign currency</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>R$</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Loans and financing &#8211; US$</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,204,894</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,726,675</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,181,256</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,767,210</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Loans and financing &#8211; Yen</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>43,700,825</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>960,107</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>41,504,249</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>926,790</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest and charges from loans and financing &#8211; US$</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>36,237</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>14,512</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest and charges from loans and financing &#8211; Yen</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,254</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>7,133</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total exposure</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,725,273</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,715,645</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Financing cost</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(18,058)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(17,092)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="47%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total loans in foreign currency</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,707,215</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,698,553</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>As of March 31, 2014, if the Brazilian </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>rea</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>l had depreciated or appreciated by 10% against the US dollar and Yen with all other variables held constant, effects on results before taxes on March 31, 2014 would have been R$372,527 (R$371,564 in December 2013), lower or higher, mainly as a result of foreign exchange losses or gains on the translation of foreign currency-denominated loans.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Scenario I below presents the effect in income statements for the next 12 months, considering the projected rates of the U.S. dollar and the Yen. Considering the other variables as remaining constant, the impacts for the next 12 months are shown in scenarios II and III with possible depreciations of 25% and 50%, respectively, in the Brazilian Real.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Scenario I (Probable)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Scenario II (+25%)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Scenario III (+50%)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Net currency exposure on</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia> March 31, 2014 (</FONT></B><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Liabilities) in US$</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,204,894</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,204,894</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,204,894</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>US$ rate on </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2.2630</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2.2630</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2.2630</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Exchange rate estimated according to the scenario</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2.5500</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>3.1875</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>3.8250</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Difference between the rates</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(0.2870)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(0.9245)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(1.5620)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Effect on net financial result in R$ - (loss</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(345,805)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(1,113,925)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(1,882,044)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Net currency exposure on</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia> March 31, 2014 (</FONT></B><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Liabilities) in </FONT></B><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Yen</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>43,700,825</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>43,700,825</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>43,700,825</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Yen rate on </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.02197</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.02197</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.02197</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Exchange rate estimated according to the scenario</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.02295</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.02869</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.03443</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Difference between the rates</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(0.00098)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(0.00672)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(0.01246)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Effect on net financial result in R$ - (loss</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>) </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(42,827)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(293,669)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(544,512)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total effect on net financial result in R$ - (loss</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(388,632)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(1,407,594)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(2,426,556)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="100%" colSpan=7>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(*)</FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>The probable scenario in</FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia> foreign currency (US dollar and Yen) considered </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>the average exchange rate for the 12-month period after </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014, </FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>according to</FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia> BM&amp;FBovespa.</FONT></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>24</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Interest rate risk</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>This risk arises from the possibility that the Company could incur losses due to fluctuations in interest rates, increasing the financial expenses related to loans and financing.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company has not entered into any derivative contract to hedge against this risk; however </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>continually monitors market interest rates, in order to evaluate the possible need to replace its debt</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The table below provides the Company's loans and financing subject to variable interest rate</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31,2014</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>TR</FONT></FONT><SUP><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>(i)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,569,386</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,646,546</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>CDI</FONT></FONT><SUP><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>(ii)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,212,010</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,212,010</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>TJLP</FONT></FONT><SUP><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>(iii)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>982,094</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>990,273</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>IPCA</FONT></FONT><SUP><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>(iv)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,445,231</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,413,629</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>LIBOR</FONT></FONT><SUP><FONT color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>(v)</FONT></FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,598,949</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,599,815</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" color=#000000 face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Interest and charges</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>66,157</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>120,839</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>6,873,827</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>6,983,112</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(i) TR &#8211; Interest Benchmark Rate</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=PT-BR color=black face=georgia>(ii) CDI (Certificado de Dep&#243;sito Interbanc&#225;rio), an interbank deposit certificate</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=PT-BR color=black face=georgia>(iii) TJLP (Taxa de Juros a Longo Prazo), a long-term interest rate index</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=PT-BR color=black face=georgia>(iv) IPCA (&#205;ndice Nacional de Pre&#231;os ao Consumidor Amplo), a consumer price index</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(v) LIBOR - London Interbank Offered Rate</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Another risk to which the Company is exposed, is the mismatch of the monetary restatement indices of its debts with those of its service revenues. Water supply and sewage services tariffs do not necessarily follow the increases in the interest rates affecting the Company's indebtedness</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>As of March 31, 2014, if interest rates on loans and financing denominated in Brazilian </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>reais</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> had been 100 basis points higher or lower with all other variables held constant, the effects on profit for the period before taxes would have been R$68,738 (R$69,831 in December 2013) lower or higher, mainly as a result of a lower or higher interest expense on floating rate loans and financing.</FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>25</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Credit risk</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Credit risk arises from cash and cash equivalents, deposits in banks and financial institutions, as well as credit exposures to wholesale basis and retail customers, including outstanding accounts receivable, restricted cash, accounts receivable from related parties and indemnities. The Company is required by law to invest its funds with Banco do Brasil (rating AA+(bra)). Credit risk exposure is mitigated by sales to a dispersed customer base.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The maximum exposures to credit risk at the reporting date are the carrying amounts of&nbsp; instruments classified as cash equivalents, deposits in banks and financial institutions, restricted cash, trade accounts receivable and accounts receivable from related parties </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>in the balance sheet date</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>, as per Notes 5, 6, 7 and 8). </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Regarding the financial assets held with financial institutions, the credit quality that is not past due or subject to provision for impairment may </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>can be assessed by reference to external credit ratings (if available) or to historical information about counterparty default rates. The credit quality of counterparties which are banks, such as deposits and financial investments, the Company considers the lower rating of the counterparty published by three main international rating agencies </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(Moody's, Fitch and S&amp;P), according to internal policy of market risk management</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Cash at bank and short-term bank deposits</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>AAA(bra)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,981,018</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,781,327</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other (*)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,454</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>674</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,982,472</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,782,001</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(*)This category includes current accounts and investment funds in banks which have no credit rating information available.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The available credit rating information of the banks in which the Company made transactions during the period is as follows</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Banks</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Moody's</FONT></B></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Standard Poor's</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Banco do Brasil S.A.</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Aaa.br</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 10pt" color=black face=georgia>Banco Santander Brasil S.A.</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Aaa.br</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>brAAA</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Brazilian Federal Savings Bank</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Aaa.br</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Banco Bradesco S.A.</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Aaa.br</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>brAAA</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Ita&#250; Unibanco Holding S.A.</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>AAA (bra)</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Aaa.br</FONT></P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>brAAA</FONT></P></TD></TR></TABLE></DIV>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Liquidity risk</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> </FONT></B></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The Company's liquidity is primarily reliant upon cash provided by operating activities, loans from Brazilian Federal and State governmental financial institutions, and financing in the domestic and international capital markets. The liquidity risk management considers the assessment of its liquidity requirements to ensure it has sufficient cash to meet its Capex and operating expenses needs,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> as well as the payment of debts.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>The funds held by the Company are </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>invested in interest-bearing current accounts, time deposits, short-term deposits and securities, selecting instruments with appropriate maturity or liquidity sufficient to provide margin as determined by projections mentioned above</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The table below analyzes the financial assets and liabilities of the Company, into relevant maturities, including the installment of principal and interest to be paid according to the agreement</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 90%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>April to December 2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2016</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2017</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2018</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2019 onwards</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>As of March 31, 2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Liabilities</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Loans and financing</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>818,013</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>1,547,429</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>1,442,174</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>1,122,828</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>1,198,089</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>7,002,233</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>13,130,766</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Accounts payable to suppliers and contractors</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>230,651</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>230,651</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Services payable</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>423,784</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>423,784</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Public-private partnership (PPP)</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>32,705</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>43,607</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>43,607</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>43,607</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>282,673</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>4,930,579</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>5,376,778</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="26%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Program contract commitments</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>151,807</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>127,207</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>3,212</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>871</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>771</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>16,503</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>300,371</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 24.2pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2014</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.2pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2015</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.2pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2016</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.2pt" vAlign=bottom width="2%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2017</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.2pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2018</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.2pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>2019 onwards</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 24.2pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 24.2pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Total</FONT></B></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>As of December 31, 2013</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Liabilities</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Loans and financing</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>1,186,907</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>1,545,451</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>1,458,618</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>1,125,401</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>1,186,483</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>6,860,587</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>13,363,447</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Accounts payable to suppliers and contractors</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>275,051</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>275,051</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Services payable</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>323,208</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></B></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>323,208</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Public-private partnership (PPP)</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>43,607</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>43,607</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>43,607</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>43,607</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>282,673</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>4,930,579</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>5,387,680</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>Program contract commitments</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>85,277</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>77,772</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>3,452</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>1,110</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="8%" noWrap>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" color=black face=georgia>1,010</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>22,251</FONT></FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=georgia>190,872</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Future interest</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Future interest was calculated based on the contractual clauses for all agreements. For agreements with floating interest rate, the interest rates used correspond to the base dates above.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>Cross default</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>The Company has loan agreements including cross default clauses, i.e., the early maturity of any Company&#8217;s debt will imply the early maturity of these agreements. The indicators are continuously monitored in order to avoid the execution of this clause.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Sensitivity analysis</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia> on interest rate risk</FONT></B></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The table below shows the sensitivity analysis of the financial instruments</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>, prepared in accordance with CVM Rule 475/2008 in order to evidence the balances of main financial assets and liabilities, calculated at a rate projected until the final settlement of each contract, considering a probable scenario (</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>scenario I), appreciation of 25% (scenario II) and 50% (scenario III</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>).</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The purpose of the sensitivity analysis is to measure the impact of changes in the market over the financial instruments of the Company, considering constant all other variables. In the time of settlement the amounts can be different from those presented above, due to the estimates used in the measurement</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.</FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Indicators</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Exposure</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Scenario I</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(Probable) (i)</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 8pt; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Scenario II</FONT></B></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(25%)</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Scenario</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia> III</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(50%)</FONT></B></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>A</FONT></B><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>ssets</FONT></B></FONT></P></TD>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>CDI</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,883,109</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>11.9600%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>8.9700%(***)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>5.9800%(***)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Financial income to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>225,220</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>168,915</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>112,610</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>CDI </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,212,010</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>11.9600%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>8.9700%(***)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>5.9800%(***)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Interest to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(144,956)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(108,717)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(72,478)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>CDI net exposure</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>80,264</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>60,198</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>40,132</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>TR</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,569,386</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.0104%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.0130%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.0156%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Expenses to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(163)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(204)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(245)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>IPCA</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,445,231</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>5.8000%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>7.2500%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>8.7000%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Expenses to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(83,823)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(104,779)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(125,735)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>TJLP</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>982,094</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>5.0000%(*)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>6.2500%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>7.5000%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Interest to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(49,105)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(61,381)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(73,657)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>LIBOR </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,598,949</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.2694%(**)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.3368%</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>0.4042%</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Interest to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(4,308)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(5,385)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(6,463)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total net expenses to be incurred</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(57,135)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(111,551)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(165,968)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="15%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="14%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="21%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="100%" colSpan=9 noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(*) Source: Focus Report &#8211; BACEN, March 31, 2014</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="100%" colSpan=9 noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(**) Source: Bloomberg</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="100%" colSpan=9 noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 3pt 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(***)Scenario with 25% and 50% deterioration, since the Company&#8217;s net exposure in CDI is positive.</FONT></FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>&nbsp;(i)&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Refers to the scenario of interest to be incurred for the 12 months as of March 31, 2014 or until the maturity of the contracts, whichever is shorter.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17.6pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>3.2 </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Capital management</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company's objectives when managing capital are ensure its ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders, and to maintain an optimal capital structure to reduce the cost of capital</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company monitors capital based on the leverage ratio. This ratio corresponds to net debt divided by total </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>capital. Net debt corresponds to total loans and financing less cash and cash equivalents. Total capital is calculated as total equity as shown in the statement of financial position plus net debt</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>.</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>29</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt" vAlign=top width="9%">

<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>March 31, 2014</FONT></B></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>December 31, 2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>Total loans and financing</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>9,373,946</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>9,450,074</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>Less: cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>(1,982,472)</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>(1,782,001)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>Net debt</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>7,391,474</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>7,668,073</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>Total equity</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>13,408,387</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>12,930,801</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 17pt" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>Total capital</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>20,799,861</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>20,598,874</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="HEIGHT: 17pt" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>Leverage ratio</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; TEXT-DECORATION: none" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 2.25pt double" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>36%</FONT></P></TD>

   <TD style="HEIGHT: 17pt" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 17pt; BORDER-BOTTOM: windowtext 2.25pt double" vAlign=bottom width="27%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=georgia>37%</FONT></P></TD></TR></TABLE></DIV>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>On March 31, 2014 the leverage ratio fell to 36% versus the 37% recorded on December 31, 2013, due to an increase in equity deriving from profit for the period.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%; TEXT-INDENT: -17.6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>3.3 </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Fair value estimates</FONT></B></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>It is assumed that balances from trade accounts receivable (current) and accounts payable to suppliers by carrying amount approximate their fair values</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>, considering the short maturity. Long-term trade accounts receivable also approximate their fair values, as they will be adjusted by inflation and/or will bear contractual interest rates over time.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%; TEXT-INDENT: -17.6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>3.4 </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>Financial Instruments</FONT></B></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=georgia>On March 31, 2014 and December 31, 2013, the Company did not have financial assets classified into the fair value categories through profit or loss, held to maturity and available for sale. The Comp</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>any&#8217;s financial instruments included in the loans and receivables category comprise cash and cash equivalents, trade accounts receivable, balances with related parties, other accounts receivable, balances receivable from the Water National Agency &#8211; ANA, contractors and suppliers, loans and financing, balances payable deriving from the Public Private Partnership-PPP and program contract commitments, which are non-derivative financial assets and liabilities with fixed or determinable payments, not quoted in an active market.</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia>The estimated fair values of financial instruments are as follows:</FONT></FONT></P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

<P style="VERTICAL-ALIGN: middle; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 110%"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT lang=EN-US style="FONT-SIZE: 10pt" face=georgia></FONT></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Financial assets</FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>December 31, 2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Carrying amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Fair </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Carrying amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Fair </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,982,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,982,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,782,001</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,782,001</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Restricted cash</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>97,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>97,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>10,333</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>10,333</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Trade accounts receivable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,419,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,419,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,515,565</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,515,565</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Accounts receivable from related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>252,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>252,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>265,312</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>265,312</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Water National Agency &#8211; ANA </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>117,705</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>117,705</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>107,003</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>107,003</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Other accounts receivable </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>184,912</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>184,912</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>155,991</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>155,991</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Financial liabilities</FONT></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="32%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>December 31, 2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Carrying amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Fair </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Carrying amount</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Fair </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Loans and financing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>9,373,946</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>9,164,342</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>9,450,074</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>9,439,094</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Accounts payable to suppliers and contractors</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>230,651</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>230,651</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>275,051</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>275,051</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Services payable</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>423,784</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>423,784</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>323,208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>323,208</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Program contract commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>278,458</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>278,458</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>166,038</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>166,038</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Public-private partnership - PPP</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>345,315</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>345,315</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>342,508</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>342,508</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>To obtain fair value of loans and financing, the following criteria have been adopted:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -19.85pt; MARGIN: 0in 0in 0pt 28.35pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -19.85pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>Agreements with CEF (Federal Savings Bank) were projected until final maturity, at contractual rates (projected TR + spread) and discounted at present value by TR x DI, both rates were obtained from BM&amp;FBovespa. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -19.85pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>(ii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>Debentures were projected up to the final maturity date according to contractual rates (IPCA, DI, TJLP or TR), and discounted to present value considering the future interest rate published by ANBIMA in the secondary market, or by market equivalent rates, or the Company&#8217;s share traded in the Brazilian market. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -19.85pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">(iii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>BNDES loans are financial instruments valued at carrying amount plus contractual interest rate till mature date, and are indexed by long term interest rate &#8211; TJLP</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman">. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -1.35pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>These loans have specific characteristics and the conditions defined in the loan agreements with BNDES between independent parties, and reflect the conditions for those types of loan. In Brazil, a consolidated market of long-term debts does not exist with the same characteristics of BNDES loans, the offering of credit to the entities in general, with this long-term characteristic, usually is restricted to BNDES.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -19.85pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>(iv)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>Other financing in local currency are considered by carrying amount plus contractual interest rate till mature date, discounted to present value considering a future interest rate published by BM&amp;FBovespa.</FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -19.85pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>(v)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>Agreements with IDB, IBRD, were projected until final maturity in origin currency, applying interest rates contracted, discounted at present value at Libor futures rate, obtained from Bloomberg. Eurobonds were priced at market value through quotes published by Bloomberg. All the amounts obtained were translated into Brazilian </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>reais</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia> at the exchange rate of March 31, 2014. </FONT></FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0in 35.4pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -19.85pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>(vi)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=windowtext face="times new roman">&nbsp;&nbsp;</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>Agreements with JICA, were projected until final maturity in origin currency, using interest rates contracted and discounted at present value, at Tibor futures rate obtained from Bloomberg. The amounts obtained were translated into Brazilian reais at the exchange rate of March 31, 2014. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 35.4pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -19.85pt; MARGIN: 0in 0in 0in 28.35pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>(vii)</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=windowtext face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=windowtext face=georgia>Leases are financial instruments considered by face value restated until maturity date, whose characteristic is the indexation by fixed contractual rate, which is a specific type, not compared to any other market rate. Thus, the Company discloses as market capitalization, the amount recorded on March 31, 2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Considering the nature of other financial instruments, assets and liabilities of the Company, the balances recognized in the statement of financial position approximate the fair values, taking into account the maturities close to the end of the reporting period, comparison of contractual interest rates with market rates in similar operations at the end of the reporting periods, their nature and maturity terms</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Critical accounting estimates and judgments</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Estimates and judgments are continually evaluated and are based on historical experience and on other factors, including expectations of future events that are believed to be reasonable under the circumstances</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>There were no changes in relation to what was presented in the Annual Financial Statements as of December 31, 2013, as per Note 5</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Cash and Cash Equivalents</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Cash and banks</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>99,363</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>189,836</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Cash equivalents</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,883,109</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,592,165</FONT></P></TD>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,982,472</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,782,001</FONT></P></TD>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Cash and cash equivalents include cash, bank deposits and high-liquidity short-term financial investments</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>, mainly </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>represented by repurchase agreements</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> (accruing CDI interest rates), </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>deposited at </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Banco do Brasil, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>whose original maturities are lower than three months, which are convertible into a cash amount and subject to an insignificant risk of change in value</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The average yield of financial investments corresponds to</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 99.85% of CDI</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> in </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>March 2014 (100.00%</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> in December 2013</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>).</FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restricted cash</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>On </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>March </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>31,</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 2014, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>the Company&#8217;s restricted cash, under current assets, totaled</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$97,058, mainly referring to funds raised from loans and financing still unavailable for use for use at the end of the reporting period (December 2013 &#8211; R$10,333).</FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Trade Accounts Receivable</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Equity balances</FONT></B></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Private sector:</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General and special customers (i) (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>960,075</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,008,335</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Agreements (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>297,006</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>287,662</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,257,081</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,295,997</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Government entities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Municipal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>512,003</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>511,967</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Federal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,681</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,292</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Agreements (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>188,510</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>167,642</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>705,194</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>683,901</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Wholesale customers &#8211; Municipal governments: (iv)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Guarulhos</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>687,036</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>661,908</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Mau&#225;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>341,483</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>327,451</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Mogi das Cruzes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,822</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>15,430</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Santo Andr&#233;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>721,424</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>700,550</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>S&#227;o Caetano do Sul</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,028</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,114</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Diadema (*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>224,433</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>210,406</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total wholesale customers &#8211; Municipal governments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,979,226</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,917,859</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Unbilled supply</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>436,991</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>474,492</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Subtotal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,378,492</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,372,249</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Allowance for doubtful accounts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(2,959,218)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(2,856,684)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,419,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,515,565</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,017,862</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,120,053</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Noncurrent (v)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>401,412</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>395,512</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,419,274</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,515,565</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>34</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(*) On March 18, 2014, the State of S&#227;o Paulo, the municipality of Diadema and SABESP entered into a &#8220;Water Supply and Sewage Public Utility Services Agreement&#8221; in the municipality of Diadema. Through this contract, the State of S&#227;o Paulo and the municipality of Diadema have ensured to SABESP (or subsidiary) exclusive rights to render services for a 30-year term. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On this same date, judicial settlements were signed in lawsuits filed by SABESP against the municipality of Diadema and Saned &#8211; a municipal company. Through these settlements, SABESP, the municipality of Diadema and Saned agree to suspend the execution of suits to collect receivables related to water supply at wholesale and collection of indemnity debt. The debts will progressively decrease throughout a 30-year period, under the condition that the settlements and the services agreement are fully complied with.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>This balance is fully accrued as losses.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>From January to March 2014, there were no relevant changes in relation to the operations presented in the financial statements as of December 31, 2013.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i)&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>General customers - residential and small and mid-sized companies</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(ii)&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Special customers - large consumers, commercial, industries, condominiums and special billing consumers (industrial waste, wells</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>, etc.).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(iii)</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> Agreements - installment payments of past-due receivables, plus monetary restatement and interest</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(iv) </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Wholesale basis customers - municipal governments - This balance refers to the sale of treated water to municipalities, which are responsible for distributing to, billing and charging final customers. Some of these municipalities are questioning in court the tariffs charged by SABESP</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>, which have full allowance for doubtful accounts. Additionally, t</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>he overdue amounts are substantially included in the allowance for doubtful account and are classified in noncurrent assets</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Three-month period ended March 31, 2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Year ended </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Balance at the beginning of the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,917,859</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,677,727</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Services provided</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>110,173</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>424,018</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; TEXT-INDENT: -22.7pt; MARGIN: 12pt 0in 0in 22.7pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Receipts &#8211; services in current year</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(5,091)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(160,944)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Receipts &#8211; services in previous years</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(43,715)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(22,942)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Balance at the end of the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,979,226</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,917,859</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>40,210</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>35,662</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Noncurrent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="27%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,939,016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="29%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,882,197</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>35</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="91%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(v)&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The noncurrent portion consists of trade accounts receivable that are past due and renegotiated with customers and amounts past due related to wholesale basis to municipal governments, and the amounts are net of allowance for doubtful account</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17pt; MARGIN: 0in 0in 0pt 17pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aging of trade accounts receivable is as follows:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,118,102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,243,156</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Past-due:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Up to 30 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>223,084</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>191,668</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>From 31 to 60 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>119,906</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>105,542</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>From 61 to 90 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>77,517</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>60,868</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>From 91 to 120 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>54,679</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>51,932</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>From 121 to 180 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>96,533</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>90,498</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>From 181 to 360 days</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>149,136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>149,242</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Over 360 days</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,539,535</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,479,343</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total past-due</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,260,390</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,129,093</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,378,492</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,372,249</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The increase in the balance overdue is mainly due to accounts receivable at wholesale, where the municipalities are challenging in court the tariffs charged by SABESP. These amounts are fully covered by the allowance for doubtful accounts.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowance for doubtful accounts</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Balance at the beginning of the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,856,684</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,723,408</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Private sector/government entities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>17,065</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>21,588</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Recoveries</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(11,760)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(5,960)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Wholesale customers</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>97,371</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>56,653</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Additions for the period</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>102,676</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>72,281</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Write-offs in the period referring to the bad debt</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(142)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Balance at the end of the period</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,959,218</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,795,689</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Current</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,233,480</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,269,932</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="50%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Noncurrent</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,725,738</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,525,757</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>36</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Reconciliation of provision for losses of income</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Losses (write-off)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>9,388</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>21,232</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Provision for state entities (related parties)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>541</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Provision for private sector/government entities</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>17,065</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>21,588</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Recoveries</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(11,760)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(5,960)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Balance</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>14,693</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in; VERTICAL-ALIGN: middle" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>37,401</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company does not have customers representing 10% or more of its revenues</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="LETTER-SPACING: -0.1pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Related Party Balances and Transactions</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company is a party to transactions with its controlling shareholder, the State Government, and companies related to it</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> Accounts receivable, interest on shareholders' equity payable, revenue and expenses with the S&#227;o Paulo State Government</FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Accounts receivable</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Current:</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Water and sewage services</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>115,411</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>110,615</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Allowance for losses</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(46,674)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(46,674)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Reimbursement for pension benefits paid -</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Gesp Agreement</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>39,201</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>39,201</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Reimbursement for pension benefits paid -</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Monthly flow </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>6,346</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>9,399</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>&#8220;</FONT><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Se Liga na Rede&#8221;</FONT></I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia> (Connect to the Network Program) (l)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>17,463</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>22,314</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total current</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>131,747</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>134,855</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Noncurrent:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Reimbursement for pension benefits paid -</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>GESP Agreement</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>120,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>130,457</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total noncurrent</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>120,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>130,457</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total receivables from shareholder</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>252,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>265,312</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Assets:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Water and sewage services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>68,737</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>63,941</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Reimbursement of additional retirement and pension benefits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>166,216</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>179,057</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>&#8220;Se Liga na Rede&#8221;</FONT></I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia> (Connect to the Network Program) (l)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>17,463</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>22,314</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>252,416</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>265,312</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Liabilities:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest on shareholders&#8217; equity payable to related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>229,605</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>229,605</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>37</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Revenue from water and sewage services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Water supply </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>59,929</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>54,500</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Sewage services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>53,066</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>48,181</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Payments received from related parties</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(105,217)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(100,893)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="51%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Receipt of GESP reimbursement referring to Law 4819/58</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>34,598</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>23,099</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>In the period between January and March 2014, there were no relevant changes in relation to the operations presented in the financial statements as of December 31, 2013. See further details and explanations about the nature of related party transactions in Note 9 to the Financial Statements as of December 31, 2013.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contingent assets - GESP (not recorded)</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On March 31, 2014 and December 31, 2013, SABESP had contingent assets with GESP, not recorded in assets referring to the additional retirement and pension paid (Law 4,819/58), as follows:</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>December 31, 2013</FONT></B></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="43%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 2pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Controversial amounts receivable</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>731,388</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>716,196</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 2pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Undisputed amount referring to the transfer to SABESP of reservoirs at Alto Tiet&#234; system (original value)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>696,283</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>696,283</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 2pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Total</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1,427,671</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1,412,479</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>In the first quarter, there were neither relevant changes in the negotiations nor in the progress of legal proceedings. See further details and explanations about the nature of these contingent assets in Note 9 (vii) to the Financial Statements as of December 31, 2013.</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>39</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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<TR style="PAGE-BREAK-INSIDE: avoid">

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>se of reservoirs - EMAE</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Empresa Metropolitana de &#193;guas e Energia S.A. - EMAE plans to receive for the credit and to obtain financial compensation for the use of water from the Guarapiranga and Billings reservoirs, which SABESP uses in its operations, as well as the reimbursement of damages related to the failure to pay appropriately. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company understands that no amounts are due </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>for the use of these reservoirs given the grants already made</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>. </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Should these reservoirs not be available for use to the Company, there could be the need to collect water in more distant places.</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> There is a risk of not properly rendering services in the region, besides increasing water supply cost. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Several lawsuits were filed by EMAE, among them a lawsuit to create an arbitration clause related to the Guarapiranga reservoir, a proceeding which had already started and another one, equally pleading for financial compensation due to SABESP&#8217;s water collect from Billings reservoir for public supply, these two lawsuits alleging that this conduct has been causing permanent and growing loss in the capacity of generating electricity of Henry Borden hydroelectric power plant with financial losses.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>SABESP understands that the expectation for all cases is of possible losses, and for the time being, it is not feasible to estimate the amounts involved, since they were not determined.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On April 10, 2014, we issued a Notice to the Market including the information we have been discussing with EMAE about any future agreement. However, no adjustment was confirmed up to date and no agreement was executed by either party up to date (See Note 29).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Agreements with reduced tariffs with State and Municipal Government Entities that joined the Water Rational Use Program (PURA</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>). </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company has signed agreements with government entities related to the State Government and municipalities where it operates that benefit from a reduction of 25% in the tariff of water supply and sewage services when they are not in default. These agreements provide for the implementation of the rational water use program, which takes into consideration the reduction in the consumption of water</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guarantees</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The State Government provides guarantees for some loans and financing of the Company and does not charge any fee with respect to such guarantees</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Personnel assignment agreement among entities related to the State Government</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company has personnel assignment agreements with entities related to the State Government, under which the expenses are fully passed on and monetarily reimbursed. From January to March 2014 and </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>in 2013, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>the expenses related to personnel assigned by SABESP to other state government entities amounted to</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$2,494 and R$2,761, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>From January to March 2014 and </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>in 2013</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>, expenses related to personnel assigned by other entities to SABESP</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> totaled R$96 and R$258, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Services obtained from state government entities</FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>As of March 31, 2014 and December 31, 2013, </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>SABESP had an outstanding amounts payable of </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>R$1,692 and R$1,791, respectively,</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> for services rendered by S&#227;o Paulo State Government entities</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-operating assets</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>As of March 31, 2014 and December 31, 2013, the Company had an amount of R$969 related to free land lent to DAEE (Water and Electricity Department).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SABESPREV</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company sponsors a private defined benefit pension plan, which is operated and administered by Funda&#231;&#227;o Sabesp de Seguridade Social - SABESPREV. The net actuarial liability recognized as of </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>March 31, 2014 </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>amounted to</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$557,597 (R$546,748 in December 2013), according to Note 18 (b).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Compensation of Management Key Personnel</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Expenses related to the compensation to the members of its board of directors and officers amounted to</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$853 and R$750 </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>for the first three months of 2014 and </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>2013, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>respectively, and they refer to short-term benefits. An additional amount of</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$140 and R$141, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>related to the Officers&#8217; bonus program, was recorded in</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>the first three months of 2014 and </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>2013, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>respectively</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loan agreement through credit facility</FONT></FONT></P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company holds interest in certain Special Purpose Entities (SPE), not holding the majority interest but with cast vote and power of veto in some issues. Therefore, these SPEs are considered for accounting purposes as jointly-owned subsidiaries.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company entered into a loan agreement through credit facility with the SPEs &#193;guas de Andradina S.A., &#193;guas de Castilho S.A. Aquapolo Ambiental S.A. to finance the operations of these companies, until the loans and financing requested with financial institutions is cleared.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The contracts signed on January 19, 2012 with &#193;guas de Andradina and &#193;guas de Castilho were settled in July 2012, according to the agreement&#8217;s provisions. On July 18, 2012, new agreements were signed with both companies, pursuant to the conditions in the table below. The agreement signed with Aquapolo Ambiental on March 30, 2012 remains with the same characteristics, according to the table below:</FONT></FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Principal disbursed amount</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Interest balance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Interest rate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Maturity</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>&#193;guas de Andradina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>3,467 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,427</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>366</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,793</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>SELIC + 3.5 % p.a.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(*)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>&#193;guas de Castilho</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>675</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>403</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>106</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>509</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>SELIC + 3.5 % p.a.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(*)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Aquapolo Ambiental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>5,629</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>5,629</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>7,377</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>CDI + 1.2% p.a.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>4/30/2016</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Aquapolo Ambiental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>19,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>19,000</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>4,748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>23,748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>CDI + 1.2% p.a.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>4/30/2015</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>28,771</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>26,459</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>6,968</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>33,427</FONT></P></TD>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>&nbsp;(*) The loan agreements with SPEs &#193;guas de Andradina and &#193;guas de Castilho mature when funds deriving from long-term agreement with the Brazilian Development Bank &#8211; BNDES are released, when borrower will settle all and any debt deriving from current opening of loan facility.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The amount disbursed is recognized in Assets under &#8220;Other Receivables&#8221; and amounts to R$1,830 for principal and R$472 for interest recognized in Current Assets and R$24,629 for principal and R$6,496 for interest in Noncurrent Assets. As of March 31, 2014, the balance of principal and interest rates of these contracts is R$33,427 (R$32,058 as of December 31, 2013). In the period between January and March 2014, financial income recognized was R$1,381 (R$585 as of March 31, 2013).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Se Liga na Rede</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> (Connect to the Network Program)</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The State Government enacted the State Law n&#186; 14,687/12, creating the pro-connection program, destined to financially subsidize the execution of household branches necessary to connect to the sewage collecting networks, in low income households which agreed to adhere to the program. The program expenditures are financed with 80% of funds deriving from the State Government and the remaining 20% invested by SABESP, which is also liable for the execution of works. On March 31, 2014, the program total amount was R$45,456, R$17,463 recorded in balances receivable from related parties, the amount of R$12,689 recorded in the group of intangible assets and R$15,304 reimbursed by GESP.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Water National Agency - ANA</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Refers to agreements executed within the scope of the Hydrographic Basin Depollution Program (PRODES), also known as "Treated Sewage Purchase Program".</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>This program does not finance works or equipment, remunerates by results achieved, i.e., by effectively treated sewage. In this program, the Water National Agency (ANA) makes available funds, which are restricted to a specific current account and applied in investment funds at the Caixa Econ&#244;mica Federal - Federal Savings Banks (CEF), until the fulfillment of treated sewage volume is evidenced, as well as, the reduction of polluting cargoes of each contract. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On March 31, 2014, the balances of assets and liabilities were R$117,705 (December 2013 &#8211; R$107,003), and the liabilities are recorded under "Other liabilities" of noncurrent liabilities.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company holds interest valued by the equity accounting in the following investees: Sesamm &#8211; Servi&#231;os de Saneamento de Mogi Mirim S/A, &#193;guas de Andradina, &#193;guas de Castilho, Saneaqua Mairinque, Aquapolo Ambiental and Attend Ambiental.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Although SABESP has no majority shares of its investees, the shareholders&#8217; agreement provides for the power of veto in certain management issues, indicating participating shared control (joint venture &#8211; CPC 19(R2)).</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>See information about these companies&#8217; activities in Note 11 to the Financial Statements as of December 31, 2013. In the quarter ended March 31, 2014, there were no relevant changes in the operations of these investees.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>See below a summary of financial information of these investees</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Investments</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Equity in the earnings of subsidiaries</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Interest percentage</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Equity</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Profit or loss for the period</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>March 31,</FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia> 2014</FONT></U></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>December 31, </FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>2013</FONT></U></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>March 31,</FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia> 2014</FONT></U></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>March 31,</FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia> 2013</FONT></U></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>March 31,</FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia> 2014</FONT></U></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>December 31, </FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>2013</FONT></U></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>March 31,</FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia> 2014</FONT></U></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>December 31, </FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>2013</FONT></U></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>March 31,</FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia> 2014</FONT></U></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>March 31,</FONT><FONT style="FONT-SIZE: 7pt"></FONT><U><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia> 2013</FONT></U></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="MARGIN: 6pt 0in 2pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Sesamm</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>8,639</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>8,239</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>268</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>36%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>36%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>23,997</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>22,884</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>1,113</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>745</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="MARGIN: 6pt 0in 2pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>&#193;guas de Andradina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>1,134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>1,087</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>47</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>52</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>30%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>30%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>3,779</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>3,622</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>157</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>173</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="MARGIN: 6pt 0in 2pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>&#193;guas de Castilho</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>683</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>619</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>60</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>30%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>30%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>2,278</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>2,064</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>214</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>200</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="MARGIN: 6pt 0in 2pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Saneaqua Mairinque</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>925</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>931</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>30%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>30%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>3,082</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>3,102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(20)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>70</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="MARGIN: 6pt 0in 2pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Attend Ambiental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>2,241</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>2,707</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(466)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(232)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>45%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>45%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>4,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>6,016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(1,036)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(516)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="MARGIN: 6pt 0in 2pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Aquapolo Ambiental</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>9,098</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>9,506</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(408)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(319)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>49%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>49%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>18,567</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>19,400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(833)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 2pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(651)</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="MARGIN: 6pt 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>22,720</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>23,089</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(368)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(150)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap><FONT style="FONT-SIZE: 7pt">&nbsp;</FONT></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>56,683</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>57,088</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>(405)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>21</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=georgia></FONT>&nbsp;</P><FONT style="FONT-SIZE: 7pt"></FONT>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Other investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>575</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>571</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US face=georgia></FONT>&nbsp;</P><FONT style="FONT-SIZE: 7pt"></FONT>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>Overall total</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>23,295</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US face=georgia>23,660</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment properties</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 12pt; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On March 31, 2014, the balances of &#8220;Investment properties&#8221; are R$54,039 (December/2013 &#8211; R$54,039). On March 31, 2014 and December 31, 2013, the market value of these properties is approximately R$327,000. Market values are valued at the end of each year</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 110%" face=arial,sans-serif></FONT>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>43</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible Assets</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity balances&nbsp; </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia>Accumulated</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia>Accumulated</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia></FONT>&nbsp;</P></TD>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Cost</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>amortization</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Net</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Cost</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Intangible right arising from:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Agreements &#8211; equity value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>8,435,141</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(1,516,007)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>6,919,134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>8,578,886</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(1,499,096)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>7,079,790</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Concession agreements &#8211; economic value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,552,883</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(356,270)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,196,613</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,529,096</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(342,950)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,186,146</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Program contracts</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>6,816,270</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(1,896,995)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>4,919,275</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>6,473,507</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(1,804,940)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>4,668,567</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Program contracts &#8211; commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>808,662</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(85,545)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>723,117</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>693,029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(79,709)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>613,320</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Services contract &#8211; S&#227;o Paulo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>11,742,606</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(1,539,818)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>10,202,788</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>11,555,381</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(1,430,778)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>10,124,603</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Software licenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>243,410</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(32,580)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>210,830</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>209,156</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(35,351)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>173,805</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="33%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Total</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>29,598,972</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(5,427,215)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>24,171,757</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.45pt 2pt 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>29,039,055</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(5,192,824)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>23,846,231</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 94%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="7%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Additions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Contract renewal</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Provision for write-off</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Transfer to property and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Write-offs and disposals</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in 3pt 0pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Intangible assets arising from: </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in 3pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Agreements &#8211; equity value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>7,079,790</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>67,488</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(110,176)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(22,119)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(37,324)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(33)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(58,492)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>6,919,134</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in 3pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Concession agreements &#8211; economic value</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>1,186,146</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>23,796</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(49)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(13,285)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>1,196,613</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in 3pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Program contracts </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>4,668,567</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>198,961</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>110,176</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(4,506)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>509</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(42)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(54,390)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>4,919,275</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in 3pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Program contracts &#8211; commitments </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>613,320</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>115,633</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(5,836)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>723,117</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in 3pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Services contract &#8211; S&#227;o Paulo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>10,124,603</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>206,283</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(18,603)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>15</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(180)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(109,330)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>10,202,788</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in 3pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Software licenses</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>173,805</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>49,917</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(12,892)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>210,830</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in 3pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Total </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>23,846,231</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="7%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>662,078</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(45,277)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(36,795)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(255)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>(254,225)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in 3pt" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>24,171,757</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>In the first quarter of 2014, the Company renewed program contracts with municipalities of Itapevi, Jaborandi, Luc&#233;lia, Parapu&#227;, Piedade and Rosana, and signed a program contract with the municipality of Diadema, all of them for a 30-year term.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>44</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction services</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="55%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>From January to March 2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Water supply</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Sewage services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>218,101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>313,126</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>531,227</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction costs incurred</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>214,138</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>306,334</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>520,472</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Margin</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,963</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>6,792</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>10,755</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="55%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>From January to March 2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Water supply</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Sewage services</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total </FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>215,686</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>279,923</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>495,609</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction costs incurred</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>208,518</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>277,444</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>485,962</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Margin</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>7,168</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,479</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>9,647</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General information</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>During the period ended March 31, 2014 there were no relevant changes in the criteria to account for intangible assets and types of contracts. See further information in Note 13 (d) to the Financial Statements as of December 31, 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company has obligations recorded in</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> &#8220;Program Contracts &#8211; Commitments&#8221; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>in current liabilities in the amount of</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.2pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>$145,428 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>and R$77,360 on March 31, 2014 and December 31, 2013, respectively) and noncurrent liabilities (in the amount of R$</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.2pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>133,030 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>and R$88,678 on March 31, 2014 and December 31, 2013, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Disposals of intangible underlying assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>In the first quarter of 2014 and in 2013, the Company wrote-off intangible </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>underlying</FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> </FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>assets items totaling R$255 and R$427</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>, respectively</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> due to obsolescence, theft, misplacements, unproductive wells and projects considered economically unfeasible.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company accrued write-offs in the first quarter of 2014 totaling R$45,277, as per chart below:</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Description</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Amount</FONT></B></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Ongoing works and projects</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>31,426</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Write-off of hydrometers</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>11,658</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="8%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,193</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>45,277</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Capitalization of interest and other financial charges</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>In the first quarter of 2014, the Company capitalized interest and inflation adjustment, including related foreign currency exchange effects, in concession intangible assets totaling R$</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>38,148 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>with an average rate of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>0.71</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>% (R$</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>57,659 </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>in the first quarter of 2013, with an average rate of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1.27</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>%), during the period in which assets were recorded as works in progress.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Construction margin</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company acts as a primary responsible to construct and install the infrastructure related to the concession, using own efforts or hiring outsourcing services, receiving the risks and benefits. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>As a consequence, the Company recognizes revenue from construction service corresponding to the cost of construction increased by margin. Generally, the constructions related to the concessions are performed by third parties, in such case, the margin of the Company is lower, normally, to cover eventual administration costs, and the responsibility of the primary risk. On </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>March 31, 2014 and</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 2013 the margin was 2.3%.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Construction margin for </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>the first quarter of 2014 and 2013 was R$10,755 and R$9,647, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Expropriations</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>As a result of the construction of priority projects related to water and sewage systems, the Company was required to expropriate or establish rights of way in third-parties' properties, and the owners of these properties will be compensated either amicably or through courts</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The assets received as a result of expropriations are recorded as </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>concession intangible assets </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>after the transaction is completed. In</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> the first quarter of 2014 and 2013,</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> the total amount related to expropriations was</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$3,968 and R$3,832, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Public-Private-Partnership (PPP)</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Alto Tiet&#234; Production System</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company and</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> the </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>special purpose entity</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> CAB-Sistema Produtor Alto Tiet&#234; S/A,</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> formed by Galv&#227;o Engenharia S.A. and Companhia &#193;guas do Brasil &#8211; Cab Ambiental, signed in June 2008 the contract of public-private-partnership of Alto Tiet&#234; production system</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The contract last 15 years which purpose is to expand the capacity of treated water of Taia&#231;upeba from 10 thousand to 15 thousand of liters per second, whose operation began in October 2011</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>As of March 31, 2014 and December 31,</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 2013,</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> the amounts recognized as intangible asset related to PPP were</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$417,485 and R$415,619, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>respectively</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>In relation to the obligations assumed by the Company on </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>March 31, 2014 and </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>December 31, 2013, the balances in current liabilities were R$20,644 and R$20,241 and under noncurrent liabilities were R$324,671 and R$322,267, respectively. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>S&#227;o Louren&#231;o Production System</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>SABESP and the special purpose entity CAB-Sistema Produtor S&#227;o Louren&#231;o S/A composed of Constru&#231;&#245;es e Com&#233;rcio Camargo Corr&#234;a S/A and Construtora Andrade Gutierrez S/A, in August 2013 signed the Public-Private Partnership agreements of S&#227;o Louren&#231;o Production System.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The services agreement has 25-year term, aiming the rendering of dehydration, drying and sludge final disposal, maintenance services and works of S&#227;o Louren&#231;o Production System, and the estimated amount of R$6.0 billion, and works started on April 10, 2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Works in progress</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The amount of R$5,436 million is recorded as intangible assets from works in progress </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>on </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>March 31, 2014 </FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(R$6,498 million in December 2013), and most works are located in the following municipalities: </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>December 31, 2013</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>S&#227;o Paulo</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,307</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,201</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Praia Grande</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>294</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Peru&#237;be</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>267</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Itanha&#233;m</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>221</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>215</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Guaruj&#225;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>200</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>196</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,215</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,325</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>5,436</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>6,498</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of intangible assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The amortization average rate totaled 3.9% and 4.0% on March 31, 2014 and 2013, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(l) Software license of use</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The software license of use is capitalized based on the costs incurred to acquire software and make them ready for use. In the first quarter of 2013, the Company started to implement an integrated business management solution (ERP system), where administrative/financial module is expected to have its go live for July 1, 2014 and the commercial module for March 1, 2015.</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>48</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Property, Plant and Equipment</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity balances</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 5.65pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="37%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 5.65pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 5.65pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="36%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 5.65pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>December 31,</FONT></B><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia> 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 5.65pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia>Accumulated</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia>Accumulated</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>C</FONT></B><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>ost</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>depreciation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Net</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>C</FONT></B><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>ost</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>depreciation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Net</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Land</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>88,332</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>88,332</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>88,332</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>88,332</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Buildings</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>55,150</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(30,780)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>24,370</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>54,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(30,233)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>23,954</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>244,015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(134,641)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>109,374</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>202,498</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(130,665)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>71,833</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Transportation equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>14,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(5,876)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>8,351</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>13,856</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(5,961)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>7,895</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Furniture, fixtures and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>17,256</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(10,216)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>7,040</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>17,060</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(10,239)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>6,821</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>690</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(543)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>147</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,201</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(540)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>661</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>419,670</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(182,056)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>237,614</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>377,134</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(177,638)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>199,496</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Additions</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Transfer of intangible assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Write-offs and disposals</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Depreciation</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Land</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>88,332</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>88,332</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Buildings</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>23,954</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>737</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(321)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>24,370</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>71,833</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>5,764</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>37,120</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(99)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(5,244)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>109,374</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="LINE-HEIGHT: 95%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 95%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Transportation equipment</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>7,895</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,216</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(489)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(271)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>8,351</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Furniture, fixtures and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>6,821</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>435</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(16)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(195)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>7,040</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>661</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>56</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(568)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(2)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>147</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 5.65pt 0pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>199,496</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>7,471</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>36,795</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(115)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(6,033)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>237,614</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Depreciation</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company annually revises the depreciation rates of: buildings - 2%; equipment-</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 10%; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>transportation equipment - 10% and furniture, fixture and equipment - 6.7%. Lands are not depreciated</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The depreciation average rate was 10.9% and 10.8%, on </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>March 31, 2014 and</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 2013, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>49</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Loans and Financing</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 1pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>&nbsp;</FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Loans and financing outstanding balance</FONT></B></P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></DIV></TD></TR>

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   <P style="MARGIN: 0in 0in 1pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Financial institution</FONT></B></P></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Current</FONT></B></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Noncurrent</FONT></B></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Total</FONT></B></P></DIV></TD>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Current</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Total</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 3pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>DOMESTIC CURRENCY</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Banco do Brasil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>100,497</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>100,497</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>10<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>37,170</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>216,180</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>253,350</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>37,171</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>220,109</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>257,280</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>11<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>12<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>34,091</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>465,317</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>499,408</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>22,727</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>476,702</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>499,429</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>14<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>36,514</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>253,591</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>290,105</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>20,079</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>269,862</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>289,941</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>15<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>94,819</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>738,117</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>832,936</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>820,887</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>820,887</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>16<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>499,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>499,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>499,434</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>499,434</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>17<SUP> th</SUP> issue debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>1,041,494</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>1,041,494</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>1,027,925</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>1,027,925</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>18<SUP> th</SUP> issue debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>162,731</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>162,731</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>160,859</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>160,859</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Brazilian Federal Savings Bank</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>75,291</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>991,281</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>1,066,572</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>83,267</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>959,853</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>1,043,120</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Brazilian Development Bank - BNDES BAIXADA SANTISTA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>16,309</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>77,469</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>93,778</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>16,309</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>81,546</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>97,855</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Brazilian Development Bank - BNDES PAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>10,411</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>85,890</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>96,301</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>9,370</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>79,644</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>89,014</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Brazilian Development Bank - BNDES PAC II 9751</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>3,319</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>29,631</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>32,950</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>2,308</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>29,192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>31,500</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Brazilian Development Bank - BNDES PAC II 9752</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>20,400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>20,400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>20,400</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>20,400</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Brazilian Development Bank - BNDES ONDA LIMPA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>19,230</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>192,020</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>211,250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>19,230</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>196,821</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>216,051</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Brazilian Development Bank - BNDES TIETE III</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>98,408</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>98,408</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>98,404</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>98,404</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Leasing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>7,978</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>398,870</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>406,848</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>382,492</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>382,492</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>516</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>2,301</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>2,817</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>498</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>2,431</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>2,929</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Interest and charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>57,911</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>57,911</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>113,504</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>113,504</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 3pt 0in"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>TOTAL IN DOMESTIC CURRENCY</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>393,559</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>5,273,172</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>5,666,731</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>424,960</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>5,326,561</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>5,751,521</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>50</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 1pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>&nbsp;</FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Loans and financing outstanding balance</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="27%" colSpan=3>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="28%" colSpan=3>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 0in 0in 1pt"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Financial institution</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Current</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Current</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Noncurrent</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Total</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17.75pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17.75pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 3pt 0in"><B><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>FOREIGN CURRENCY</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17.75pt; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17.75pt; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17.75pt; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17.75pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17.75pt; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17.75pt; PADDING-TOP: 0in" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Inter-American Development Bank - IDB 713 - US$100,390 thousand ( US$100,391 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>56,796</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>170,388</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>227,184</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>58,794</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>176,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>235,176</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Inter-American Development Bank - IDB 896 - US$8,333 thousand (US$8,333 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>6,286</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>12,572</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>18,858</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>6,507</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>13,014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>19,521</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Inter-American Development Bank - IDB 1212 - US$118,198 thousand (US$123,337 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>23,259</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>244,223</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>267,482</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>24,077</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>264,854</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>288,931</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Inter-American Development Bank - IDB 2202 - US$266,227 thousand (US$243,687 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>595,068</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>595,068</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>564,443</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>564,443</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>International Bank for Reconstruction and Development -IBRD - US$43,573 thousand (US$37,335 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>98,225</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>98,225</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>87,077</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>87,077</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Eurobonds - US$140,000 thousand (US$140,000 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>316,524</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>316,524</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>327,640</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>327,640</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Eurobonds - US$350,000 thousand (US$350,000 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>786,012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>786,012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>813,650</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>813,650</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>JICA 15 </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>&#165;</FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>17,862,665 thousand (</FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>&#165;</FONT><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia> 18,438,880 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>25,318</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>367,125</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>392,443</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>25,733</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>386,007</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>411,740</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>JICA 18 - &#165; 16,060,480 thousand (&#165; 16,578,560 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>22,764</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>329,761</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>352,525</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>23,137</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>346,733</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>369,870</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>JICA 17 - &#165; 606,790 thousand (&#165; 450,484 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>12,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>12,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>9,704</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>9,704</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>JICA 19 - &#165; 9,170,890 thousand (&#165; 6,036,325 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>200,395</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>200,395</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>134,010</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>134,010</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>BID 1983AB - US$178,173 thousand (US$178,173 thousand in December 2013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>54,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>346,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>401,028</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>56,087</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>359,059</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 4.8pt" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>415,146</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Interest and charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>38,491</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>38,491</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>21,645</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 4.8pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>21,645</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%" noWrap>

   <P style="MARGIN: 3pt 0in"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>TOTAL IN FOREIGN CURRENCY</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>227,095</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>3,480,120</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>3,707,215</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>215,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>3,482,573</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>3,698,553</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="45%">

   <P style="MARGIN: 3pt 0in"><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>TOTAL LOANS AND FINANCING</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 3pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>620,654</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 3pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>8,753,292</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 3pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>9,373,946</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 3pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>640,940</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 3pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>8,809,134</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="9%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 1pt">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 3pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>9,450,074</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="100%" colSpan=7>

   <P style="MARGIN: 0in 0in 1pt"><I><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia></FONT></I>&nbsp;</P>

   <P style="MARGIN: 0in 0in 1pt"><I><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>Quote on March 31, 2014 US$2.2630; </FONT></I><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>&#165;</FONT><I><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>0.021970 (US$2.3426; </FONT></I><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>&#165;</FONT><I><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>0.022330 on December 31, 2013)</FONT></I></P>

   <P style="MARGIN: 0in 0in 1pt"><I><FONT style="FONT-SIZE: 8.5pt" lang=EN-US color=black face=georgia>On March 31, 2014, the Company did not record balances of loans and financing raised in 2013 to mature within 12 months.</FONT></I></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>51</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>GUARANTEES</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>MATURITY</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>ANNUAL INTEREST RATES</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in" align=right><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>FOREIGN EXCHANGE ADJUSTMENT</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><B><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>DOMESTIC CURRENCY</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 30.8pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Banco do Brasil</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>S&#195;O PAULO STATE GOVERNMENT AND OWN FUNDS</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2014</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>8.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 30.8pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>TR</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>10<SUP>th</SUP> issue debentures</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2020</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>TJLP +1.92% (series 1 and 3) and 9.53% (series 2) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>IPCA (series 2)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>12<SUP>th</SUP> issue debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>TR + 9.5% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>14<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2022</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>TJLP +1.92% (series 1 and 3) and 9.19% (series 2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>IPCA (series 2)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>15<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>CDI + 0.99% (series 1) and 6.2% (series 2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>IPCA (series 2)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>16<SUP>th</SUP> issue debentures </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>CDI + 0.30% to 0.70%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>17<SUP> th</SUP> issue debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>CDI +0.75 (</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>series 1</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>) and 4.5% (</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>series 2</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>) and+4.75% (s</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>eries </FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>IPCA (series 2 and 3</FONT></P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" vAlign=bottom width="44%" noWrap>

   <P style="MARGIN: 0in 0in 4.8pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>18<SUP> th</SUP> issue debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>2024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>TJLP + 1.92 % (</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>series 1 and 3</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>)and 8;25% (</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>series 2</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>IPCA (series 2)</FONT></P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Brazilian Federal Savings Bank</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2013/2032</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>6.8% (weighted)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>TR</FONT></P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; TEXT-INDENT: -10.7pt; MARGIN: 4.8pt 0in 4.8pt 10.7pt"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia> - BNDES BAIXADA SANTISTA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2.5% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia> - BNDES PAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2.15% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia> - BNDES PAC II 9751</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2027</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>1.72%+TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia> - BNDES PAC II 9752</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2027</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>1.72%+TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia> - BNDES ONDA LIMPA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>1.92% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US face=georgia>Brazilian Development Bank</FONT><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia> - BNDES TIETE III</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>1.66% + TJLP </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Leasing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>7.73% to 10.12%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>IPC</FONT></P></TD></TR>

<TR style="HEIGHT: 13.45pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>Others</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>OWN FUNDS</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>2018/2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>12%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 13.45pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 7.5pt" lang=EN-US color=black face=georgia>TR</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>52</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 1pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>GUARANTEES</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>MATURITY</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 1pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>ANNUAL INTEREST</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 1pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FOREIGN EXCHANGE ADJUSTMENT</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FOREIGN CURRENCY</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Inter-American Development Bank - IDB 713 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2.68%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Inter-American Development Bank - IDB 896 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>3.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Inter-American Development Bank - IDB 1212 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2025</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2.51%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Inter-American Development Bank - IDB 2202 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1.16% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>International Bank for Reconstruction and Development - IBRD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2034</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>0.45%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Eurobonds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>7.50%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Eurobonds</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2020</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>6.25%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>US$</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>JICA 15 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1.8% and 2.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Yen</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>JICA 18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1.8% and 2.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Yen</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>JICA 17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2035</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1.2% and 0.01% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Yen</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>JICA 19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>FEDERAL GOVERNMENT</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2037</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1.7% and 0.01% </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=top width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Yen</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>BID 1983AB </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-&nbsp;</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2023</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2.49% to 2.99%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 0in" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>US$</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>53</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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&nbsp; <A name="page_55"></A>

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<a name="_bclHeader55"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="91%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Payment schedule</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> &#8211; accounting balances</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>2014</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>2018</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>2019</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>2020 to 2037</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>TOTAL</FONT></B></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><B><I><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>IN DOMESTIC CURRENCY</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Debentures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>72,240</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>713,725</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>356,003</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>376,908</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>557,175</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>624,810</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>878,635</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>3,579,496</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Brazilian Federal Savings Bank</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>58,218</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>64,730</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>64,685</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>67,841</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>71,646</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>75,015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>664,437</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,066,572</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>BNDES</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>36,952</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>50,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>57,300</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>59,355</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>59,355</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>59,356</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>230,100</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>553,087</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Leasing</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>9,721</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>14,800</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>15,560</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>16,385</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>17,280</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>18,252</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>314,850</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>406,848</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Other</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>380</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>562</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>634</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>714</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>527</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2,817</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Interest and other charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>48,258</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>9,653</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>57,911</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>TOTAL IN DOMESTIC CURRENCY</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>225,769</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>854,139</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>494,182</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>521,203</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>705,983</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>777,433</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2,088,022</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>5,666,731</FONT></I></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><B><I><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia>IN FOREIGN CURRENCY</FONT></I></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>IDB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>74,712</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>86,341</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>86,341</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>111,764</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>54,968</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>54,968</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>639,498</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,108,592</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>IBRD</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>3,287</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>94,938</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>98,225</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Eurobonds </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>316,524</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>786,012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,102,536</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>JICA</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>24,042</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>48,083</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>48,083</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>48,444</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>48,804</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>59,695</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>681,192</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>958,343</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>IDB 1983AB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>54,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>54,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>54,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>54,181</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>53,838</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>40,038</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>90,428</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>401,028</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Interests and other charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>38,491</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>38,491</FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>TOTAL IN FOREIGN CURRENCY</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>191,426</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>188,605</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>505,129</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>214,389</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>157,610</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>157,988</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2,292,068</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>3,707,215</FONT></I></P></DIV></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 0in"><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Overall Total</FONT></I></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>417,195</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,042,744</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>999,311</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>735,592</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>863,593</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>935,421</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>4,380,090</FONT></I></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="10%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 2.4pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>9,373,946</FONT></I></P></DIV></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Main events in the quarter</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On March 5, 2014, SABESP paid the last installment of the agreement entered into with Banco do Brasil.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(ii)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Covenants</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Some loan and financial agreements have clauses related to meeting certain financial ratios with quarterly or yearly evidence. These covenants are the same disclosed in Note 15 to the Annual Financial Statements as of December 31, 2013.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On March 31, 2014, the Company had met all the requirements set forth by its loan and financing agreement.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leasing</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company has lease agreements signed as Financial Lease. During the construction period, works are capitalized to intangible assets in progress and the lease amount is recorded at the same proportion. Works are estimated to be concluded in 2014 and 2015</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>After startup, the lease payment period starts (240 monthly installments), whose amount is periodically restated by contracted price index</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On August 31, 2013, the operation of SES Campo Limpo Paulista and V&#225;rzea Paulista started and the corresponding amount for March 31, 2014 and December 31, 2013 is R$142,940 and R$144,384, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On March 22, 2014, ETE Campos do Jord&#227;o started operations and the corresponding amount on March 31, 2014 is&nbsp; R$135,835.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b) Loans and financing</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> contracted and not yet used</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>SABESP in order to comply with its Capex plan relies on a fund-raising plan.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Financing resources contracted have specific purposes, which have been released for the execution of their respective investments, according to the progress of the works.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Agent</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(in millions of reais (*))</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Brazilian Federal Savings Bank</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2,219</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Japan International Cooperation Agency &#8211; JICA</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>659</FONT></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Inter-American Development Bank &#8211; BID</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>755</FONT></FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Brazilian Development Bank &#8211; BNDES</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2,012</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>International Bank for Reconstruction and Development - IBRD</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>128</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Others</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>47</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="70%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>TOTAL</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="4%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>5,820</FONT></B></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(*)closing quote of 3/31/2014. (US$1.00 = R$2.2630; &#165; 1.00 = R$0.021970).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>55</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0in 0.95pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taxes Payable</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0in 0.95pt"><STRONG><FONT size=2 face=Georgia></FONT></STRONG>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Current assets</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Recoverable taxes</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>6,423</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>79,548</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Withholding income tax (IRRF) on financial investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>6,969</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,437</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other federal taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,947</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,764</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other municipal taxes</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>502</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>656</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total recoverable taxes</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>17,841</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>87,405</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The decrease in &#8220;Recoverable Taxes&#8221; is mainly due to the accounting offset of the recoverable balance of income tax and social contribution recoverable in 2013.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Current liabilities</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Taxes and contributions payable</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Cofins and Pasep</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>6,572</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>21,797</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,611</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>INSS (Social Security contribution)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>30,599</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>30,822</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>IRRF (withholding income tax)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,240</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>39,330</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>23,873</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>23,433</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="42%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="26%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>66,895</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="28%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>115,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The decrease in taxes payable of current liabilities mainly derives from the payment of withholding income tax over interest on shareholders&#8217; equity in 2013 and Cofins and Pasep recoverable from January and February 2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>56</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0in 0.95pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred Taxes and Contributions</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 0.5in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Equity balances</FONT></B></P>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Deferred income tax assets</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Provisions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -7.1pt; MARGIN: 1pt 2.85pt 1pt 7.1pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>483,905</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>506,568</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Pension obligations &#8211; G0 (1)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>85,271</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>85,271</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Pension obligations &#8211; G1</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>218,876</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>215,187</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Actuarial gain/loss &#8211;G1 Plan</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(32,405)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt; TEXT-DECORATION: none" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(32,405)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Donations of underlying assets on concession agreements</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>44,036</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>43,901</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Allowance for loan losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>187,688</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>172,482</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>109,229</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>87,266</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total deferred tax assets</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,096,600</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,078,270</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Deferred income tax liabilities</FONT></B></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Temporary difference on concession intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(587,384)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(595,285)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Capitalization of borrowing costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(205,175)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(200,343)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Profit on supply to governmental entities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(85,077)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(81,711)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(90,655)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(86,901)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total deferred tax liabilities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(968,291)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(964,240)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="52%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Deferred tax asset, net</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>128,309</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 2.85pt 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>114,030</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 53.4pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=georgia>(1)</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Refers to the installment of R$250,798 from accounts receivable adjustment (GESP), which was accrued as loss in previous years</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>57</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Net Variation in Profit or Loss</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Deferred income tax assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Provisions</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>506,568</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(22,663)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>483,905</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Pension obligations &#8211; G0</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>85,271</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>85,271</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Pension obligations &#8211; G1</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>215,187</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>3,689</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>218,876</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Actuarial gain/loss &#8211;G1 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(32,405)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(32,405)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Donations of underlying assets on concession agreements</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>43,901</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>135</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>44,036</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Credit losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>172,482</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>15,206</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>187,688</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>87,266</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>21,963</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>109,229</FONT></P></TD></TR>

<TR style="HEIGHT: 22.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,078,270</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>18,330</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,096,600</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Deferred income tax liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Temporary difference on concession intangible assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(595,285)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>7,901</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(587,384)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Capitalization of borrowing costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(200,343)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(4,832)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(205,175)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Profit on supply to governmental entities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(81,711)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(3,366)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(85,077)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(86,901)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(3,754)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(90,655)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(964,240)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(4,051)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(968,291)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Deferred tax asset, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>114,030</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>14,279</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>128,309</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 110%" face=georgia></FONT>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>58</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>December 31, </FONT></B><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2012</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Net Variation in Profit or Loss </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, </FONT></B><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Deferred tax assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Provisions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>512,107</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>29,211</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>541,318</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Pension obligations &#8211; G0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>85,271</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>85,271</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Pension obligations - G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>193,125</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>6,358</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>199,483</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Actuarial gains(losses)&#8211; G1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>9,405</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>9,405</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Donations of underlying assets on concession agreements</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>41,312</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(399)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>40,913</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Credit losses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>162,670</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>5,191</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>167,861</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>97,425</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(13,025)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>84,400</FONT></P></TD></TR>

<TR style="HEIGHT: 22.7pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,101,315</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>27,336</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 22.7pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,128,651</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P>

   <P style="MARGIN: 2.4pt 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Deferred tax liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Temporary difference on intangible asset concession</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(650,093)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>27,567</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(622,526)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Capitalization of borrowing costs</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(158,298)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(26,384)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(184,682)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Profit on supply to governmental entities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(77,827)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(3,320)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(81,147)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Other </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(69,795)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(3,907)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(73,702)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(956,013)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(6,044)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(962,057)</FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="44%">

   <P style="MARGIN: 4.8pt 0in 2.4pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Deferred tax assets, net</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>145,302</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>21,292</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 0in 2.4pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>166,594</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>59</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="91%">

   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>(c)</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Reconciliation of the effective tax rate</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The amounts recorded as income and social contribution tax expenses in the financial statements are reconciled to the statutory rates, as shown below</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="46%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Profit before income taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>740,024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>762,450</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="46%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Statutory rate</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>34%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>34%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Estimated expenses at statutory rate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(251,608)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(259,233)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Permanent difference</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Provision Law 4,819/58 (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(12,716)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(9,341)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Donations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(2,172)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(1,059)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other differences</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>4,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,384</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income tax and social contribution</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(262,438)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(266,249)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="46%" noWrap>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Current income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="24%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(276,717)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(287,541)</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid; HEIGHT: 17pt">

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Deferred income tax and social contribution</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>14,279</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>21,292</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: justify; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Effective rate</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>36%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 7.05pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>35%</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Permanent difference related to the provision for actuarial liability (Note 18 (b) (iii)).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 0.75in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(d)&nbsp;&nbsp; Transition Tax Regime</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> (RTT)</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>For the purposes of calculating the income tax and the social contribution related to 2010 and 2009, the Company opted to adopt the Transition Tax Regime (RTT), which allow eliminate the accounting effects of the Law 11,638/07 and the Provisional Measure 449/08, converted into Law No. 11,941/2009, by the registers in the fiscal books &#8211; LALUR and auxiliary controls, without any modification in the bookkeeping</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company has been adopting the same tax practices since 2008, as RTT started to be mandatory.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(e)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Provisional Measure 627/2013</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On November 11, 2013, the Provisional Measure 627 was issued, amending the federal tax laws on the Corporate Income Tax (IRPJ), Social Contribution on Net Income (CSLL), PIS/PASEP Contribution and Contribution of Social Security Financing (Cofins). This Provisional Measure revokes the Transitory Tax Regime (RTT), enacted by Law 11941/09 and also provides for the taxation of legal entity domiciled in Brazil, referring to the equity addition deriving from the profit sharing earned abroad by subsidiaries and associated companies and profit earned by individual residing in Brazil by means of foreign subsidiary. This provisional measure was converted into Law</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 12,973 on May 13, 2014, see Note 29(h)</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provisions</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp; Lawsuits with probable likelihood of loss</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 28.35pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(i) Equity balances</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company is party to a number of claims and legal proceedings arising in the normal course of business, including civil, tax, labor and environmental matters. Management, recognized provisions at an amount considered sufficient to cover probable losses. These provisions, net of escrow deposits based on the legal right to offset, are as follows:</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Provisions</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Escrow deposits</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Provisions</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Escrow deposits</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>December 31, 2013</FONT></B></FONT></P></TD></TR>

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   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Customer claims (i)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>634,741</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(118,598)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>516,143</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>621,999</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(110,384)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>511,615</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Supplier claims (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>264,868</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(194,618)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>70,250</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>340,100</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(183,606)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>156,494</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Other civil claims (iii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>121,695</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(12,205)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>109,490</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>129,400</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(11,965)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>117,435</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Tax claims</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia> (iv)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>54,138</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(1,995)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>52,143</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>59,659</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(1,956)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>57,703</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Labor claims</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia> (v)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>157,297</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(1,646)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>155,651</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>156,060</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(1,614)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>154,446</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Environmental claims</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia> (vi)</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>190,511</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>190,511</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>182,689</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>182,689</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,423,250</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(329,062)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,094,188</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,489,907</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(309,525)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,180,382</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Current</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>531,231</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>531,231</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>631,374</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>-</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>631,374</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="23%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Noncurrent</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>892,019</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(329,062)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>562,957</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>858,533</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(309,525)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>549,008</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 28.35pt; MARGIN: 0in 0in 12pt 22.7pt; VERTICAL-ALIGN: baseline"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(ii) Changes</FONT></B></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 95%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>December 31, 2013</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Additional provisions</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Interest and inflation adjustment</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Amounts from provision</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Amounts not used</FONT></B></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(reversal)</FONT></B></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>March 31, 2014</FONT></B></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Customer claims (i)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>621,999</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>14,465</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>27,499</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(14,212)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(15,010)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>634,741</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Supplier claims (ii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>340,100</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>338</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>5,545</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(58,318)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(22,797)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>264,868</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Other civil claims (iii)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>129,400</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>5,814</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>6,166</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(4,735)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(14,950)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>121,695</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Tax claims (iv)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>59,659</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>321</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>2,074</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(18)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(7,898)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>54,138</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Labor claims (v)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>156,060</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>17,270</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>4,656</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(15,320)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(5,369)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>157,297</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Environmental claims (vi)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>182,689</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>5,022</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>5,204</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>- </FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(2,404) </FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>190,511</FONT></U></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Subtotal</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,489,907</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>43,230</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>51,144</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(92,603)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(68,428)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,423,250</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Escrow deposits</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(309,525)</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(14,564)</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(7,065)</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>2,092</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>-</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(329,062)</FONT></U></FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,180,382</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>28,666</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>44,079</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(90,511)</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>(68,428)</FONT></U></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>1,094,188</FONT></U></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lawsuits with possible likelihood of loss</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company is party to lawsuits and administrative proceedings relating to environmental, tax, civil and labor claims, which are assessed by Management whose chances of loss are possible and are not recorded. Liability contingencies classified as possible loss represent the amount of approximately R$3,436,700 on March 31, 2014 (R$3,244,500 in December 2013).</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>61</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Explanation on the nature of main classes of lawsuits</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 64.35pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(i)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Customer claims</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 38.25pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Approximately 1,370 lawsuits were filed by commercial customers, which claim that their tariffs should correspond to other consumer categories, and 720 lawsuits which claim a reduction in the sewage tariff due to losses in the system, consequently requesting the refund of amounts charged by the Company. The Company was granted both favorable and unfavorable final decisions at several court levels and recognized provisions when the chances of losses are probable. The R$4,528 increase in the lawsuits classified as probable loss (net of escrow deposits) is related to new lawsuits filed and interest rates, fees and updates of lawsuits in progress, partially offset by payments made in the year and revisions of expectations caused by favorable decisions during 2014. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 64.35pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(ii)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Supplier claims</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Suppliers&#8217; claims include lawsuits filed by some suppliers alleging underpayment of monetary restatements, withholding of amounts related to the understated inflation rates deriving from Real economic plan, and the economic and financial imbalance of the agreements. These lawsuits are in progress at different courts and a provision is recognized when the chances of losses are probable. The R$86,244 decrease in lawsuits whose likelihood of loss is considered probable (net of escrow deposits) is mainly related payments made during 2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 64.35pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(iii)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Other civil claims</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>These mainly refer to indemnities for property damage, pain and suffering, and loss of profits allegedly caused to third parties, filed at different court levels, dully accrued when classified as probable losses. The R$7,945 decrease in lawsuits with probable chances of loss (net of escrow deposits) was mainly due to shelving of several lawsuits and revisions of expectations caused by favorable decisions to the Company during 2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 64.35pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(iv)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Tax claims</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Tax claims refers mainly to issues related to tax collections challenged due to differences in the interpretation of legislation by the Company's management, accrued when classified as probable loss. The decrease of R$5,560 in lawsuits with expectation of probable losses (net of escrow deposits) was mainly due to favorable decisions to the Company.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 64.35pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(v)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Labor claims</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company is a party to labor lawsuits, involving issues such as overtime, shift schedule, health hazard premium and hazardous duty premium, prior notice, change of function, salary equalization, and other. Part of the amount involved is in provisional or final execution at various court levels, and thus is classified as of probable or possible loss. The Company recognized a provision for claims which likelihood of loss is considered probable. The R$1,205 increase in lawsuits with probable chances of losses (net of escrow deposits) is related to new lawsuits filed and interest rates, fees and updates of lawsuits in progress. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0in 64.35pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(vi)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Environmental claims</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Environmental claims refer to several administrative proceedings and lawsuits filed by government entities, including Companhia de Tecnologia de Saneamento Ambiental &#8211; Cetesb, Public Prosecution Office of the State of S&#227;o Paulo and others, that aim affirmative and negative covenants and penalty is estimated due to failure to comply in addition to the imposition of indemnity due to environmental damages allegedly caused by the Company. The amounts accrued represent the best estimate of the Company at this moment, however, may differ from the amount to be disbursed as indemnity to alleged damages, in view of the current stage of referred proceedings. The R$7,822 </FONT></FONT>


<FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>increase in lawsuits with expectation of probable losses (net of escrow deposits) is mainly related to the complementary estimates of lawsuits and agreements in progress</FONT></FONT><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>.</FONT></FONT></P></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Employee Benefits</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Health benefit plan</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The health benefit plan is managed by Funda&#231;&#227;o Sabesp de Seguridade Social - SABESPREV and consists of optional, free choice, health plans sponsored by contributions of SABESP and the active participants, as follows</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Company</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>: 7.4 % </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>on average, of gross payroll</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Participating employees - 3.21% of base salary and premiums, equivalent to</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 2.2%</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> of payroll, on average</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>. </FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension plan benefits</FONT></B></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Amounts recorded in the statement of financial position</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Funded plan &#8211; G1</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Pension plan liabilities on December 31, 2013 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>546,748</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Expenses recognized in 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>16,091</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Payments made in 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(5,242)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Pension plan liabilities on March 31, 2014 (i)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>557,597</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Unfunded plan &#8211; G0</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Pension plan liabilities on December 31, 2013 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,780,268</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Expenses recognized in 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>56,233</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Payments made in 2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(33,687)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Pension plan liabilities on March 31, 2014 (iii)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,802,814</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="74%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2,360,411</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 107%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 63.8pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plan G1</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 107%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company sponsors a defined benefit pension plan for its employees ("Plan G1"), which is managed by Funda&#231;&#227;o SABESP de Seguridade Social &#8211; SABESPREV, the defined benefit plan is sponsored by similar contributions established in a plan of subsidy of actuarial study of SABESPREV, as follows</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 3pt 35.7pt"><FONT style="LINE-HEIGHT: 110%" color=black face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1.16% of the portion of the salary of participation up to 20 salaries; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -17.85pt; MARGIN: 0in 0in 3pt 35.7pt"><FONT style="LINE-HEIGHT: 110%" color=black face=symbol><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>9.88% of the surplus, if any, of the portion of the salary of participation over 20 salaries.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 35.4pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>As of March 31, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>2014, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>SABESP had a net actuarial liability of</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$557,597 (R$546,748 </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>in December </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>2013) </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>representing the difference between the present value of the Company's defined benefit obligations to the participating employees, retired employees, and pensioners; the fair value of the related assets</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt 63.8pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Private pension plan benefits &#8211; Defined contribution</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On March 31, 2014, Sabesprev Mais plan, based on defined contribution, had 5,263 (5,267 in December 2013) active and assisted participants.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>63</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>With respect to the Sabesprev Mais plan, </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>the contributions from the sponsor represent 100% over the total basic contribution from the participants</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On March 31, 2014, </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>the commitment to all participants who migrated to </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>the Sabesprev Mais plan </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>amounted to</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$10,261 (R$10,613 </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>in December 2013</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>) </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>referred to active participants. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt 28.35pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plan G0</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Pursuant to Law 4,819/58, employees who started services prior to May 1974 and were retired as an employee of the Company acquired a legal right to receive supplemental pension payments, which rights are referred as "Plan G0". The Company pays these supplemental benefits on behalf of the State Government and makes claims for reimbursements from the State Government, which are recorded as accounts receivable from shareholder, limited to the amounts considered virtually certain that will be reimbursed by the State Government. As of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>March 31, 2014,</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> the Company recorded a defined benefit obligation for Plan G0 of</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$1,802,814 (R$1,780,268 in December 2013).</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 13pt; MARGIN: 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit sharing</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company recorded as reference to the 2014 Profit Sharing Program the amount corresponding to one-month salary for each employee, depending on the establishment goals. From January to March 2014 and 2013, </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>R$17,212 and R$15,674, respectively were accrued.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.55pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Services payable</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The services account records the balances payable, mainly from services received from third parties, such as supply of electric power, reading of hydrometers and delivery of water and sewage bills, cleaning, surveillance and security services, collection, legal counsel services, audit, marketing and advertising and consulting services, among others. This account also records the amounts payable from the percentage in the revenues of S&#227;o Paulo local government. The balances on March 31, 2014 and December 31, 2013 were R$423,784 and R$323,208, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.55pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Authorized capital</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company is authorized to increase capital by up to R$10,000,000 (R$10,000,000 in December 2013), based on a Board of Directors' resolution, after submission to the Fiscal Council</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>In the event of capital increase, issue of convertible debentures and/or warrants by means of private subscription, shareholders will have preemptive right in the proportion of number of shares held, pursuant to Article 171 of Law 6.404/76.</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>64</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Subscribed and paid-in capital</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Subscribed and paid-in capital is represented by</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> 683,509,869</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> registered, book-entry common shares without par value as of </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>March 31, 2014 (683,509,869 in December 2013) </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>held as follows</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>:</FONT></FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>March 31, 2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>December 31, 2013</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Number of shares</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Number of shares</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 2.85pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>State Department of Finance</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>343,524,258</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>50.26%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>343,524,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>50.26%</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Brazil Clearing and Depository Corporation - CBLC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>161,090,475</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>23.57%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>174,076,755</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>25.47%</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>The Bank Of New York ADR Department (equivalent in shares) (*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>178,286,202</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>26.08%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>165,291,202</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>24.18%</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>608,934</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>0.09%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>617,654</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>0.09%</FONT></P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 2.85pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15.6pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="40%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 4.8pt 2.85pt 2.4pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>683,509,869</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>100.00%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>683,509,869</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 4.8pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>100.00%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="LINE-HEIGHT: 107%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(</FONT></FONT><FONT style="LINE-HEIGHT: 107%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>*)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each ADR corresponds to 1 share. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="LINE-HEIGHT: 107%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="LINE-HEIGHT: 107%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The following was approved at the Annual and Extraordinary Shareholders&#8217; Meetings held on April 30, 2014:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; TEXT-INDENT: -11.35pt; MARGIN: 3pt 0in 3pt 29.2pt"><FONT style="LINE-HEIGHT: 105%" color=black face=symbol><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 105%" face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US face=georgia>the distribution of dividends as interest on shareholders&#8217; equity amounting to</FONT></FONT><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> R$537,465;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; TEXT-INDENT: -11.35pt; MARGIN: 3pt 0in 3pt 29.2pt"><FONT style="LINE-HEIGHT: 105%" color=black face=symbol><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>the capital increase from R$6,203,688 to R$10,000,000, due to the </FONT></FONT><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>capitalization of part of profit reserve and total capital reserve</FONT></FONT><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>, totaling R$3,672,057 and R$124,255, respectively; and,</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; TEXT-INDENT: -11.35pt; MARGIN: 3pt 0in 0pt 29.2pt"><FONT style="LINE-HEIGHT: 105%" color=black face=symbol><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=symbol>&#183;</FONT><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>regardless of Bylaws amendment, the capital stock may be increased up to the maximum limit of R$15,000,000, by means of the Board of Directors&#8217; resolution and previously hearing the fiscal council.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 107%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 12pt 14.2pt"><FONT style="LINE-HEIGHT: 107%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Further information about equity, such as shareholder&#8217; compensation, dividends and purpose of reserves, can be found in Note 21 to the Annual Financial Statements as of December 31, 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.55pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 105%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Earnings per Share</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Basic and diluted</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Basic earnings per share is calculated by dividing the income attributable to the Company&#8217;s shareholders by the weighted average number of outstanding common shares during the year. </FONT></FONT><FONT style="LINE-HEIGHT: 105%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The Company does not have potentially dilutive common shares outstanding or debts convertible into common shares. Accordingly, basic and diluted earnings per share are equal</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income attributable to the Company&#8217;s shareholders</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>477,586</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="3%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>496,201</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Weighted average number of common shares issued</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>683,509,869</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>683,509,869</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(*)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Basic and diluted earnings per share (</FONT><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>reais</FONT></I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia> per share)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>0.69873</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 2pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>0.72596</FONT></P></TD>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(*) Amount restated due to the split occurred on April, 22, 2013.</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>65</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 105%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 105%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 105%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Business segment information</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Management, comprised by the Board of Directors and the Board of Executive Officers, has determined the operating segments used to make strategic decisions, as water supply and sewage services.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Result</FONT></FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><B><I><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></I></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Water</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Sewage</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Reconciliation to the financial statements</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=#000000 face=georgia>Balance as per financial statements</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt 0in"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Gross operating income from external customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,340,077</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,104,354</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>531,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,975,658</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Gross sales deductions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(100,723)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(83,005)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(183,728)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Net operating income from external customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,239,354</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,021,349</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>531,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,791,930</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Costs, selling and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(</FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>929,741</FONT><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(585,775)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(520,472)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(2,035,988)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income from operations before other operating expenses, net and equity accounting </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>309,613</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>435,574</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>10,755</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>755,942</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Other operating income (expenses), net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(43,069)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Equity accounting</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(368) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Financial result, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>27,519</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income from operations before taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>740,024</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>145,136</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>115,122</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>260,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>66</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 14.15pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" width="57%" colSpan=7 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><B><I><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></I></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Water</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia>Sewage</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia>Reconciliation to the financial statements</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=#000000 face=georgia>Balance as per financial statements</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Gross operating income from external customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,285,902</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,032,945</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>495,609</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2,814,456</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Gross sales deductions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(93,947)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(75,466)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(169,413)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Net operating income from external customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>1,191,955</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>957,479</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>495,609</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>2,645,043</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Costs, selling and administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(888,964)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(543,661)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(485,962)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(1,918,587)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Income from operations before other operating expenses, net and equity accounting </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>302,991</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>413,818</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>9,647</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>726,456</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US face=georgia>Other operating income (expenses), net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>8,835</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Equity accounting</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>(150)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Financial result, net</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>27,309</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Income from operations before taxes</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>762,450</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="39%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>105,253</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>89,912</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>195,165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 14.15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Explanation on the reconciliation items for the Financial Statements: the impacts on gross operating income and in costs are as follows:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Gross revenue from construction recognized under ICPC 1 (R1) (a)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>531,227</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>495,609</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction costs recognized under ICPC 1 (R1) (a)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>520,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>485,962</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 11.35pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="64%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction margin</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; MARGIN: 2pt 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>10,755</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>9,647</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0in 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)</FONT><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Revenue from concession construction contracts is recognized in accordance with</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> CPC 17 (R1), C</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>onstruction Contracts (IAS 11), using the percentage-of-completion method</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="LETTER-SPACING: -0.05pt; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>. See Note 12 (c) and (g).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating Revenue </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue from water and sewage services:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Metropolitan region of S&#227;o Paulo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1,729,248</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1,688,016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Regional Systems (i) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>715,183</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>630,831</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="54%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Total (ii)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>2,444,431</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="4%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>2,318,847</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>67</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i)&nbsp; Including the municipalities operated in inland and at the coast of the State of S&#227;o Paulo.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(ii) Revenue from water and sewage services increased by 5.4% in the first quarter of 2014 year-on-year. The billed volume was up 5.2% as of March 31, 2014. The 2.35% tariff repositioning was applied as of April 2013 and the 3.1% tariff adjustment as of December 2013.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b)&nbsp;&nbsp;&nbsp;&nbsp; Reconciliation between gross operating income and net operating income:</FONT></B></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Revenue from water and sewage services</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,444,431</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,318,847</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 2pt 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Construction revenue (Note 12 (c))</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>531,227</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>495,609</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Sales tax </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(183,728)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(169,413)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Net revenues</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,791,930</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15.6pt; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,645,043</FONT></P></TD>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating Costs and Expenses</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; VERTICAL-ALIGN: middle"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2pt 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Operating costs</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Salaries and payroll charges</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>344,299</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>318,734</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Pension obligations </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>11,769</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>15,402</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction costs (Note 12 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>520,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>485,962</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>44,950</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>40,576</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Treatment supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>69,654</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>64,876</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Outsourced services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>200,473</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>163,730</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>139,690</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>144,387</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>107,980</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>116,351</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>239,430</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>186,848</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,678,717</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,536,866</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Selling expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>54,872</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>51,486</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Pension obligations </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,553</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2,601</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,099</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2,119</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Outsourced services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>62,129</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>26,426</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>166</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>172</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>19,286</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>18,361</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,799</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>2,718</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.15pt; MARGIN: 3pt 0in 0pt 14.15pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Allowance for doubtful accounts, net of recoveries (Note 7 (c))</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>14,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>37,401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>156,597</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>141,284</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>42,137</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>41,854</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Pension plan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>42,108</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>31,739</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,048</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,584</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Outsourced services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>52,058</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>38,595</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>162</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>268</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>25,403</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>80,713</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>18,029</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>5,599</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Tax expenses</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>19,729</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>40,085</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>200,674</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>240,437</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>68</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 9pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

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<TR style="PAGE-BREAK-INSIDE: avoid">

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Operating costs and expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Salaries and payroll charges</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>441,308</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>412,074</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Pension plan</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>55,430</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>49,742</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction costs (Note </FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US color=black face=georgia>12 (c))</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>520,472</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>485,962</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>47,097</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>44,279</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Treatment supplies</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>69,654</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>64,876</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Outsourced services</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>314,660</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>228,751</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Electricity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>140,018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>144,827</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>General expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>152,669</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>215,425</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>260,258</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>195,165</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Tax expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>19,729</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>40,085</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.15pt; MARGIN: 3pt 0in 0pt 14.15pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Allowance for doubtful accounts, net of recoveries (Note 7 (c)) </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>14,693</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>37,401</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 3pt 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 15pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,035,988</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>1,918,587</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 15pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>69</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT><FONT style="FONT-SIZE: 8pt" face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Expenses and Income</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: -14.2pt; MARGIN: 0in 0in 0pt 14.2pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

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<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 0in"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Financial expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest and charges on loans and financing &#8211; local currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(82,209)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(82,525)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest and charges on loans and financing &#8211; foreign currency</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(24,343)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(18,416)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other financial expenses (i)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(21,031)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(12,178)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income tax over international remittance</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(2,585)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(1,877)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Inflation adjustment on loans and financing (ii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(33,054)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(24,149)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Inflation adjustment on Sabesprev Mais deficit (iii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(339)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(448)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other inflation adjustments (iv)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(2,491)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(3,638)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest and inflation adjustments on provisions</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(19,946)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(52,431)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total financial expenses</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(185,998)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>(195,662)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Financial income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Inflation adjustment gains (v)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>25,344</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>28,996</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Income on short-term investments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>47,706</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>32,978</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest and other income (vi)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>23,802</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>31,429</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total financial income</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>96,852</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>93,403</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Financial, net before foreign exchange variations</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(89,146)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(102,259)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Net foreign exchange gains (losses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Foreign exchange variation on loans and financing (vii)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>117,036</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>129,604</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other foreign exchange variations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(27)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 2.4pt 2.85pt 2.4pt 7.1pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Foreign exchange gains</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(344)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(35)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 2.4pt 2.85pt 2.4pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="66%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Foreign exchange variations, net</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>116,665</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>129,568</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 7.1pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Financial, net</FONT></B></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>27,519</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>27,309</FONT></B></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 2pt 2.85pt 2pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -25.65pt; MARGIN: 0in 0in 0in 0.75in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(i)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>This variation is mainly due to interest rates of the Public-Private Partnership agreement of Alto Tiet&#234; Production System &#8211; CAB &#8211; Sistema Produtor Alto Tiet&#234; S/A, in the amount of R$9,569 in the first quarter of 2014. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 35.4pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -25.65pt; MARGIN: 0in 0in 0in 0.75in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(ii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The account variation mainly derives from an increase in debt balance indexed to IPCA in view of the 17<SUP>th</SUP> and 18<SUP>th</SUP> Issue of Debentures. This inflation adjustment derives from changes in the indexes defined in loan agreements, such as, UPR, IPCA, CDI and TJLP, corresponding to 0.2%, 2.2%, 10.6% and 5.0%, respectively, in the first quarter of 2014. (0.0%, 1.9%, 7.0% and 5.0%, respectively, in the same period 2013). The exposures to these rates are shown in Note 3.1.</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>70</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 56.7pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(iii)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>This reduction derives from the variation in the National Consumer Price Index (INPC) rate of 2.1% the first quarter of 2014 and 2.0% in the same period 2013, which is used to adjust the balance of SABESP&#8217;s commitment in relation to the deficit of the Sabesprev Mais pension plan.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 35.4pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 56.7pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(iv)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Other expenses related to inflation adjustment mainly arises from the adjustment of liabilities referring to investment commitments required by the public-private partnerships and mainly from program contracts indexed by the IPC and IPCA of 2.2% and 2.2% in the first quarter of 2014 and 1.2% and 1.9% % in the first quarter of 2013, respectively.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0in 35.4pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 56.7pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(v)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>These inflation adjustments arise from accounts/bills of overdue accounts receivable, which are restated depending on the payment date, by IPCA (2.2% in the first quarter of 2014 and 1.9% in the same period of 2013) or IPC-FIPE (Consumer Price Index, 2.2% in the first quarter of 2014 and 1.2% in the same period of 2013), and escrow deposits, which are adjusted by the index defined by the Judiciary Branch, which varied between 2.0% in the first quarter of 2014 and 2.2% in the same period of 2013.</FONT></FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0in 35.4pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 56.7pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(vi)</FONT><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The variation is mainly due to interest rates on agreements and installment payments.</FONT></FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0in 35.4pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -28.35pt; MARGIN: 0in 0in 0in 56.7pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(vii)</FONT></B><B><FONT style="FONT-SIZE: 7pt" lang=EN-US color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The decrease in </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>foreign exchange variation on loans and financing</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> mainly arises from the 1.6% Yen slighter depreciation against the Brazilian Real in the first quarter of 2014, when compared to the </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>9.7</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>% depreciation in the same period of 2013. This reduction was partly offset by higher US Dollar depreciation of 3.4% in 2014, compared to </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>1.5% in 1Q13.</FONT></FONT></P>

<P style="LINE-HEIGHT: 13pt; MARGIN: 0in 0in 0in 35.4pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>26</FONT></B></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Operating Income (expenses), net</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other net operating income, net</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>16,507</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>10,637</FONT></P></TD>

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<TR style="HEIGHT: 17pt">

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other operating expenses (i)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(59,576)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(1,802)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="57%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Other net operating income (expenses)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(43,069)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="5%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>8,835</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Other operating income is comprised of sale of property, plant and equipment, sale of contracts awarded in public bids, and indemnities and reimbursement of expenses, fines and collaterals, property leases, reuse water, and PURA projects and services</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Other operating expenses consist mainly of write-off of property, plant and equipment due to obsolescence, discontinued construction works, unproductive wells, projects considered economically unfeasible, losses on property, plant and equipment</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(i) The increase in other operating expenses is due to</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> the provision for losses with works, projects, hydrometers and accounts receivable with the municipality of Diadema</FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>71</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commitments</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company has agreements to manage and maintain its activities, as well as agreements to build new projects aiming at achieving the objectives proposed in its target plan. Below, main committed amounts as of March 31, 2014 are as follows:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=center><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1 year</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1-3 year</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

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   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3-5 year</FONT></FONT></P></DIV></TD>

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   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>More than</FONT></FONT></P>

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>5 years</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total</FONT></FONT></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Contractual obligations - Expenses </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>984,425</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>995,871</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>55,249</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>3,785,112</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 1pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>5,820,657</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Contractual obligations &#8211; Investments</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,306,807</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1,732,157</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>164,008</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,186,389</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>5,389,361</FONT></FONT></P></DIV></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="25%" noWrap>

   <P style="LINE-HEIGHT: 110%; MARGIN: 1pt 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US face=georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,291,232</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>2,728,028</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>219,257</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>5,971,501</FONT></FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: white; HEIGHT: 19.85pt; PADDING-TOP: 0in" vAlign=bottom width="15%" noWrap>

   <DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">

   <P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; LINE-HEIGHT: 110%; MARGIN: 1pt 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>11,210,018</FONT></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The main commitment refers to S&#227;o Louren&#231;o PPP, see Note 12 (i).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B>&nbsp;</P>

<P style="TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Additional information on cash flows</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 95%" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=center><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q14</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>1Q13</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total additions of intangible assets as per Note 12</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>662,078</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>588,274</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Items not affecting cash (see breakdown below)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(151,638)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(136,958)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total additions to intangible assets as per statement of cash flows</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>510,440</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>451,316</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Investments and financing operations affecting intangible assets but not cash:</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Interest capitalized in the period</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>38,148</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>57,659</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Contractors </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(39,372)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>(53,336)</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Program contract commitments </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>117,751</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>57,609</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Leasing</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>24,356</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>65,379</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Construction margin </FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>10,755</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>9,647</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="63%" noWrap>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>Total</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>151,638</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=top width="2%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; HEIGHT: 17pt; PADDING-TOP: 0in" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; TEXT-INDENT: -14.2pt; MARGIN: 0in 2.85pt 0pt 14.2pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 9pt" lang=EN-US color=black face=georgia>136,958</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<P style="TEXT-INDENT: -35.45pt; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Events after the reporting period</FONT></B></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(a) Capital Stock</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The following was approved at the Extraordinary Shareholders&#8217; Meeting held on April 30, 2014:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>- Company&#8217;s capital stock increase, without issuing new shares, by capitalizing the capital reserve, in the amount of R$124,255 and part of the Company&#8217;s profit reserve balance, in the amount of R$3,672,057, pursuant to Article 169, Paragraph 1 and Article 199 of Federal Law &nbsp;6.404/1976.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>- amendment to the Company&#8217;s Bylaws altering (a) the </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>caput</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> of Article 3, in order to reflect the Company's new fully paid-up capital stock after the increase provided for in item I above; (b) Article 3, Paragraph 1, in order to increase the limit of authorized capital to fifteen billion reais (R$15,000,000); (c) Article 14 to update the duties of the three (3) executive boards, due to the changes in their organizational structures.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(b) Allocation of profit for 2013 fiscal year</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Annual Shareholders&#8217; Meeting held on April 30, 2014 approved the allocation of profit for 2013, totaling R$1,923,559:</FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Legal reserve</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>96,178</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Minimum mandatory dividends (25%)</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>456,845</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Additional dividends</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>80,620</FONT></FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Investments reserve</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>1,289,916</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(c) Tariff Revision</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>ARSESP, by means of ARSESP Resolution no. 484/2014, disclosed the result of SABESP&#8217;s tariff revision, which consists of:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>a) Apply, as of May 11, 2014, the tariff repositioning index of 5.4408% in relation to the tariffs in force and the annual efficiency factor (X Factor) of 0.9386%, to be deducted in the next annual tariff adjustments;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>b) Allow Sabesp, given its market&#8217;s atypical condition, due to water shortage and the measures that has been taken to stimulate water saving in order to ensure supply, so that it may apply on an appropriate and future date the repositioning index arising from the tariff revision and recalculating and monetarily restating the applicable amounts, so that to ensure its economic and financial breakeven;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>c) The next annual tariff adjustments shall take place on April 11, 2015 and April 11, 2016 and the next tariff revision on April 11, 2017;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>d) Approve the following formula for annual tariff adjustment, to be applied in the second tariff cycle:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>P t = [1 + (IPCA &#8211; X)/100] * P t-1 - FAQ t</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" color=black face=georgia></FONT>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Where:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>* Pt = is the maximum average tariff to be applied during year t of the second tariff cycle</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>* IPCA is the percentage variation of IBGE&#8217;s Extended Consumer Price Index (IPCA/IBGE) for the reference period.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>* X = is the 0.9386% percentage of efficiency to be transferred to users at the end of each t year of the second tariff cycle, as defined in the Final Technical Note no. RTS/004/2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 6pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>* P t-1 = is the maximum average of previous tariff year whose initial value will be P<SUB>0</SUB>.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>* FAQ t = is the quality correction factor, expressed in R$/billed m3, to be defined and applied in the future.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>However, at the end of January, SABESP had requested ARSESP&#8217;s authorization to implement a Water Consumption Reduction Incentive Program for consumers of S&#227;o Paulo Metropolitan Region who are served by the Cantareira system, since the low rain indices drastically reduced the volume of stored water. The Program, which grants a 30% tariff discount for users who reduce their monthly water consumption by, at least, 20% in relation to&nbsp; average consumption through January 2014, was approved by ARSESP Resolution no. 469 of February 3, 2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The continuation of the unfavorable water situation in February and March led SABESP to expand the scope of the Program, extending the benefit of tariff reduction to all S&#227;o Paulo Metropolitan Region&#8217;s users served by SABESP, as approved by ARSESP Resolution no. 480 of April 02, 2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Thus, the Company informed on April 16, 2014, pursuant to Article 13, item VI of the Company&#8217;s Bylaws and taking into consideration the possibility allowed by ARSESP Resolution 484, that the Company may apply the repositioning index arising from the tariff revision on a date appropriate and favorable to the market&#8217;s condition, the Board of Directors resolved to postpone the application of the repositioning index on an appropriate date until, at most, end of December 2014.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(d) Sabesp&#8217;s Incentive Program to Reduce Water Consumption</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>After being approved by ARSESP on an emergency basis through Resolution 469/2014, SABESP adopted an economic incentive to stimulate households of the Greater S&#227;o Paulo to reduce water consumption. This measure was adopted due to the record heat and the inedited rainless in the Cantareira System, which is in a critical level and which supplies almost 10 million people.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The clients who reduced by, at least, 20% the average consumption of a 12-month period: February 2013 to January 2014 will have a 30% discount in their bill. This deduction shall apply over a lower amount, since decrease in consumption will result in cheaper bill to apply the benefit.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>This measure applies to households, commerce and industries supplied by Cantareira System: the entire north area and S&#227;o Paulo downtown, part of east and west areas of the capital city, Barueri, Caieiras, Carapicu&#237;ba, Francisco Morato, Franco da Rocha, Itapevi, Jandira, Osasco and Santana de Parna&#237;ba. In Guarulhos and S&#227;o Caetano do Sul, also served by Cantareira System, the distribution is under the local governments&#8217; responsibility, which buys water from SABESP. The municipal services shall decide on granting this incentive.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>This benefit will be valid for the bills in the reference months from February to August and consumers will receive the bill from March to September. In Santana de Parna&#237;ba, this measure shall apply in the reference months from March to August and bill is delivered between April and September.</FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT></P>

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   <P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif>Notes to the Interim Financial Information</FONT></B></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>However in April 2014, the water consumption reduction incentive program was extended until the end of 2014 and to the entire metropolitan region of S&#227;o Paulo or until the water level at reservoirs is normalized.&nbsp; Due to the drought and low water volume at the Cantareira System, the Water and Electricity Department of the State of S&#227;o Paulo (DAEE) and the Water National Agency (ANA) determined that, since March 10, 2014, we are temporarily required to restrict the outflow of water caught from the Cantareira System from 33 m&#179;/s to 27.9 m&#179;/s. In order to provide this lower water availability and continue providing supply to the population, we are expanding the water use from other sources. This can result in an increase in costs to serve S&#227;o Paulo Metropolitan Region&#8217;s consumers. If the situation at reservoirs affected by the drought does not improve, we may have to take more drastic measures.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(e) Program Contract</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On April 7, 2014, the Company renewed its</FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> Program Contract of Water Supply and Sewage Services</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> with the municipality of Registro.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>This agreement has a 30-year term.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 150%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(f) S&#227;o Louren&#231;o Production System</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On April 10, 2014, the Company began the works at the S&#227;o Louren&#231;o Water Production System, which will increase the supply capacity in the Metropolitan Region of S&#227;o Paulo by 4.7 thousand liters per second. 1.5 million people living in the municipalities of Barueri, Carapicu&#237;ba, Cotia, Itapevi, Jandira, Santana de Parna&#237;ba and Vargem Grande Paulista will be directly benefited from such increase. SABESP has an installed capacity to produce 73,000 liters of treated water per second. The new system will expand this capacity to 77.7 thousand liters per second. The work has been carried out through a Public-Private Partnership.</FONT></FONT><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The services agreement has a 25-year term and aims at providing services related to the operation of the systems of dehydration, drying and final disposal of sludge, maintenance and works, having an estimated amount of R$6.0 billion and an estimated investment of R$2.21 billion and will be fully made by the special purpose entity referred to as Sistema Produtor S&#227;o Louren&#231;o S/A, whose shareholders are Constru&#231;&#245;es e Comercio Camargo Corr&#234;a and Construtora Andrade Gutierrez. See Note 12(i).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(g) Use of reservoir - EMAE</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On April 10, 2014, we issued a Notice to the Market to announce that we are negotiating a possible future agreement with EMAE. However, no adjustment has been confirmed, and no agreement has been executed by either party up to date.</FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.5in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>(h)&nbsp; Law 12,973</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>On May 13, 2014, the Provisional Presidential Decree 627 of November 11, 2013 was converted into Law 12,973, which amend the federal tax laws related to the Corporate Income Tax - IRPJ, Social Contribution on Net Income - CSLL, Contribution to PIS/Pasep and Contribution to Social Security Financing&#8211; Cofins and revokes the Tax Transition System- RTT, enacted by Law no.11,941 of May 27, 2009.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Pursuant to this law, the legal entity may adopt the rules as of January 1, 2014, the option of which shall be irreversibly expressed with the Federal Revenue Service, except for Articles 3, 72 to 75 and 93 to 119, which are in force as of the publication date. The Company has decided to not adopt such anticipated option. </FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The analyses prepared by the Company do not show relevant impacts on its operations and on its accounting information for the period ended March 31, 2014</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><B><FONT><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Comments on the Company&#8217;s Projections </FONT></B></FONT></FONT></B></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Comments on the Company&#8217;s projections</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The projections presented in the reference form are annual and not on a quarterly basis. Therefore, the quarterly comparison between the information disclosed in the reference form with quarterly results shall not apply.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The projections monitoring occurs on an annual basis and are disclosed in the reference form.</FONT></FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Other Information Deemed as Relevant by the Company</FONT></B></FONT></FONT></B><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif> </FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>1.</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>CHANGES IN INTEREST HELD BY CONTROLLING SHAREHOLDER, BOARD MEMBERS AND EXECUTIVE OFFICERS</FONT></B></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>CONSOLIDATED SHAREHOLDING OF CONTROLLING SHAREHOLDERS, MANAGEMENT AND OUTSTANDING SHARES<BR>Position as at 3/31/2014</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Shareholder</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Number of <BR>Common Shares<BR>(units)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>%</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Total Number of Shares<BR>(units)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Controlling shareholder</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Treasury Department</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>343,524,258</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>343,524,258</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Management</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Board of Directors</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>1,515</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>0</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>1,515</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>0</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Executive Officers</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>-</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Fiscal Council</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Treasury shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Other shareholders</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>343,525,773</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>343,525,773</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Outstanding shares</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>339,984,096</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>49.7%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>339,984,096</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>49.7%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>Page </FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif>77</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif></FONT></FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=Arial,sans-serif> of 81</FONT></P></DIV></DIV>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 10pt" face=Arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Other Information Deemed as Relevant by the Company</FONT></B></FONT></FONT></B><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif> </FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 2.15pt; PADDING-RIGHT: 2.15pt; PADDING-TOP: 0in" vAlign=top width="9%">

<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: silver; HEIGHT: 17pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="100%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>CONSOLIDATED SHAREHOLDING OF CONTROLLING SHAREHOLDERS, MANAGEMENT AND OUTSTANDING SHARES<BR>Position as at 3/31/2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="32%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Shareholder</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Number of <BR>Common Shares<BR>(units)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="23%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Total Number of Shares<BR>(units)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Controlling shareholder</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Treasury Department</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>114,508,086</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>114,508,086</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3%</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Management</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Board of Directors</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>506 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>0 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>506</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>0 </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Executive Officers</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>-</FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Fiscal Council</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Treasury shares</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>- </FONT></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Other shareholders</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>114,508,592</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>114,508,592</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 17pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Outstanding shares</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>113,328,031</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>49.7%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>113,328,031</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 17pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>49.7%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>2.</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=arial,sans-serif>SHAREHOLDING POSITION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Tahoma,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" border=0 cellSpacing=0 cellPadding=0>



<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: silver; HEIGHT: 19.85pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="100%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>SHAREHOLDING POSITION OF HOLDERS OF MORE THAN 5% OF EACH TYPE AND CLASS OF COMPANY SHARES, UP TO THE INDIVIDUAL LEVEL</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: silver; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="62%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>Company:<BR><BR>CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND: silver; HEIGHT: 19.85pt; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="38%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Position as at<BR>3/31/2014<BR>(shares)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="32%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Common shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="38%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Shareholder</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Number of shares</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Number of shares</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 19.85pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>Treasury Department</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>343,524,258 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>343,524,258</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; HEIGHT: 19.85pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 11pt" lang=EN-US color=black face=Arial,sans-serif>50.3</FONT></P></TD></TR></TABLE></DIV><FONT style="LINE-HEIGHT: 110%" face="times new roman"></FONT>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Reports and Statements / Unqualified Report on Special Review</FONT></B><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif> &nbsp;</FONT></B></P></TD>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>(Convenience Translation into English from the Original Previously Issued in Portuguese)</FONT></FONT></P>

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<P style="LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>To the Shareholders, Board of Directors and Management of</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=georgia>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><U><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>S&#227;o Paulo - SP</FONT></U></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Introduction</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>We have reviewed the accompanying interim financial information of </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia> (the &#8220;Company&#8221;) included in the Interim Financial Information Form (ITR), for the quarter ended March 31, 2014, which comprises the balance sheet as of March 31, 2014 and the related statements of income, other comprehensive income, changes in equity and of cash flows for the three-month period then ended, including the explanatory notes.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>The Company&#8217;s Management is responsible for the preparation of the interim financial information in accordance with technical pronouncement CPC&nbsp;21&nbsp;(R1) - Interim Financial Information and with international standard IAS&nbsp;34 - Interim Financial Reporting, issued by the International Accounting Standards Board - IASB, as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM), applicable to the preparation of Interim Financial Information (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Scope of review</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>We conducted our review in accordance with Brazilian and international standards on review of interim financial information (NBC&nbsp;TR&nbsp;2410 and ISRE&nbsp;2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with standards on auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 0in"><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>Conclusion on the interim financial information</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial information included in the ITR referred to above was not prepared, in all material respects, in accordance with </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>technical pronouncement</FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia> CPC&nbsp;21&nbsp;(R1) and </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>international standard </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>IAS&nbsp;34, applicable to the preparation of Interim Financial Information (ITR), and presented in accordance with the standards issued by the CVM.</FONT></FONT></P><FONT style="LINE-HEIGHT: 110%" face=georgia></FONT>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face=Arial,sans-serif>(CONVENIENCE TRANSLATION INTO ENGLISH FROM THE ORIGINAL PREVIOUSLY ISSUED IN PORTUGUESE)</FONT></B></FONT></FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT color=black><FONT style="FONT-SIZE: 8pt" color=black face=Arial,sans-serif>ITR &#8211;&#8211; Quarterly Information Form &#8211; March 31, 2014 &#8211; CIA SANEAMENTO B&#193;SICO ESTADO S&#195;O PAULO </FONT></FONT><FONT></FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT><FONT><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face=Arial,sans-serif>Reports and Statements / Unqualified Report on Special Review</FONT></B></FONT></FONT></B><B><FONT><FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face=Arial,sans-serif> </FONT></B></FONT></FONT></B><B><FONT><FONT></FONT></FONT></B></P></TD>

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<H2 style="TEXT-ALIGN: right; PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt" align=right><FONT><FONT style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" lang=EN-US face=Arial,sans-serif>Version: 1</FONT></FONT></H2></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT><B><FONT style="FONT-SIZE: 6pt" lang=EN-US face=Arial,sans-serif></FONT></B></FONT></B>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 0in 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 0in 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Other matters</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 0in 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>Statements of value added</FONT></I></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 0in 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>We have also reviewed the statements of value added (DVA) for the three-month period ended March 31, 2014, prepared under the responsibility of the Company&#8217;s Management, the presentation of which is required by the standards issued by the CVM applicable to the preparation of Interim Financial Information (ITR) and considered as supplemental information for International Financial Reporting Standards - IFRS, which does not require the presentation of DVA. These statements were subject to the same review procedures described above, and, based on our review, nothing has come to our attention that causes us to believe that they were not prepared, in all material respects, consistently with the individual and consolidated interim financial information taken as a whole.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></I></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; TEXT-INDENT: 0in; MARGIN: 12pt 0in 0in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>The accompanying </FONT></FONT><FONT style="LINE-HEIGHT: 110%" color=black face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US color=black face=georgia>interim financial information </FONT></FONT><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia>has been translated into English for the convenience of readers outside Brazil.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=EN-US face=georgia></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 110%; MARGIN: 0in 0in 0.5in"><FONT style="LINE-HEIGHT: 110%" face=georgia><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=georgia>S&#227;o Paulo, May 14, 2014</FONT></FONT></P>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>SIGNATURE&nbsp;</U></B></FONT><FONT size=1>&nbsp;</FONT></DIV></U></B></FONT>

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<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city S&#227;o Paulo, Brazil. <BR></FONT></DIV>

<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;June 1, 2014</FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV></TD></TR>

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   <TD vAlign=top align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></TD>

   <TD vAlign=bottom align=left>/s/&nbsp;&nbsp;<FONT style="FONT-FAMILY: times new roman" size=3>Rui de Britto &#193;lvares Affonso</FONT>&nbsp;&nbsp;&nbsp;&nbsp;

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Name: Rui de Britto &#193;lvares Affonso </FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Title: Chief Financial Officer and Investor Relations Officer </FONT></DIV></TD>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

<P align=justify><FONT size=2 face="'Times New Roman, Times, Serif'">This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. </FONT></P>

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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
