<SEC-DOCUMENT>0001292814-15-000752.txt : 20150402
<SEC-HEADER>0001292814-15-000752.hdr.sgml : 20150402
<ACCEPTANCE-DATETIME>20150402163427
ACCESSION NUMBER:		0001292814-15-000752
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140630
FILED AS OF DATE:		20150402
DATE AS OF CHANGE:		20150402

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:		15748173

	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>sbs20150325_6k.htm
<DESCRIPTION>EXCERPT FROM THE MINUTES OF THE 803RD BOARD OF DIRECTORS MEETING
<TEXT>

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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 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>

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<DIV><FONT color=#000000 size=2 face="Times New Roman"><B>For&nbsp;March 25, 2015</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 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>

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<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>

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<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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<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></P>

<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>

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<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="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 5.65pt 6pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo<BR></FONT><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=verdana,sans-serif>Board of Directors</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 17.85pt 6pt 0in"><FONT style="FONT-SIZE: 11pt" lang=PT-BR face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=verdana,sans-serif>COMPANHIA DE SANEAMENTO B&#193;SICO DO ESTADO DE S&#195;O PAULO - SABESP</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>CORPORATE TAXPAYER&#8217;S ID (CNPJ) 43.776.517/0001-80</FONT></B></P>

<P style="TEXT-ALIGN: center; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>COMPANY REGISTRY (NIRE): 35.3000.1683-1</FONT></B></P>

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

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

<P style="TEXT-ALIGN: center; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>EXCERPT FROM THE MINUTES OF THE 803<SUP>RD</SUP> BOARD OF DIRECTORS&#8217; MEETING</FONT></B></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>On March 18, 2015, at 9:00 a.m., convened by the Chairman of the Board of Directors, Benedito Pinto Ferreira Braga Junior, extraordinarily, in accordance with Article 12 of the Bylaws, in the conference room of the Company&#8217;s headquarters, located at Rua Costa Carvalho n&#176; 300, S&#227;o Paulo, there was a meeting of the members of the Board of Directors of Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo (SABESP) named and signed below. Opening the meeting, Dr. Benedito Braga Junior greeted everyone, stating that the Board Members Jer&#244;nimo Antunes and Francisco Luna were participating via conference call, and justifying the absence of Board Member Sidnei Franco da Rocha. Immediately thereafter, he gave the floor to the Chief Financial Officer and Investor Relations Officer, </FONT><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Rui de Britto &#193;lvares Affonso, to the Head of Accounting Marcelo Miyagui, and to the Advisor to the Financial and Investor Relations Office, Flavio Fernandes Naccache, to present item 1 on the agenda &#8211; the</FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif> Agreement between the State of S&#227;o Paulo, Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo and the Department of Water and Electricity (DAEE)</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif> </FONT><I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>(Time: 60&#8217;)</FONT></I><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>, which was based on the proposal of the Board of Directors, of March 17, 2015, the Executive Board Resolution 0041/2015, of March 17, 2015, Internal Communications 06/2015, of March 13, 2015, and 07/2015, of March 17, 2015, Legal Opinion 125/2015, of March 15, 2015, Legal Opinion&nbsp;126/2015, of March 17, 2015, the PowerPoint presentation made by the Financial Office and Investor Relations Office, and the draft Agreement, which has been filed with the Secretary of the Company. The Chief Financial Officer and Investors Relations Officer Rui Affonso presented the main points and the context of the Agreement, after which Advisor Flavio Naccache explained that the total amount of Sabesp&#8217;s financial credit with the State, related to the portion of the Undisputed Amount that would be paid off with the transfer of the ownership of the Taia&#231;upeba, Jundia&#237;, Biritiba, Paraitinga and Ponte Nova reservoirs of the Alto Tiet&#234; System (Reservoirs), under the terms of the &#8220;Third Amendment of the Term of Recognition and Consolidation of Obligations, Payment Commitment and Other Covenants&#8221;, of November 17, 2008, updated to February 2015, is one billion, twelve million, three hundred and ten thousand and ninety-five reais and sixteen centavos (R$1,012,310,095.16), composed of: </FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 43.1pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>(A) the Principle Amount of six hundred and ninety-six million, two hundred and eighty-three thousand, four hundred and sixty-five reais and forty-nine centavos (R$696,283,465.49); and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 43.1pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>(B) a Monetary Adjustment Credit of three hundred and sixteen million, twenty-six thousand, six hundred and twenty-nine reais and sixty-seven centavos (R$316,026,629.67).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 7.1pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>As there has not yet been a resolution in the courts that would allow the ownership transfer of the Reservoirs, this Agreement will allow the ownership transfer of the </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Reservoirs to be substituted with the payment of the Principal Amount in one hundred and eighty (180) monthly installments, as follows:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 7.1pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 7.1pt"><FONT style="FONT-SIZE: 11pt" lang=PT-BR face=Arial,sans-serif>1</FONT><FONT style="DISPLAY: none"><FONT style="FONT-SIZE: 11pt" lang=PT-BR face=Arial,sans-serif></FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 5.65pt 6pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo<BR></FONT><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=verdana,sans-serif>Board of Directors</FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 35.4pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>(a) the first twenty-four (24) installments will be settled through the immediate transfer of 2,221,000 shares of preferred stock issued by Companhia de Transmiss&#227;o de Energia El&#233;trica Paulista (CTEEP), type TRPL4, at the closing quote on March 17, 2015, of thirty-nine reais and twenty-five centavos (R$39.25) per share, totaling eighty-seven million, one hundred and seventy-four thousand, two hundred and fifty reais (R$87,174,250.00).</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 35.4pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>(b) the balance of six hundred and nine million, one hundred and nine thousand, two hundred and fifteen reais and forty-nine centavos (R$609,109,215.49) will be adjusted in accordance with the IPCA until the initial payment date, and paid in one hundred and fifty-six (156) installments; the individual installments will be adjusted in accordance with the IPCA, plus interest of 0.5% per month.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 7.1pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>The agreement also allows that, in the event of a final judgement in the case challenging the transfer of the Reservoirs:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 43.1pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>(i) if the decision allows, and the ownership of the Reservoirs is transferred to Sabesp and registered with the competent real estate division, Sabesp will reimburse the State for the amount received, in sixty (60) consecutive monthly installments, adjusted in accordance with the IPCA; and </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 43.1pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>(ii) if the decision prevents the transfer of the Reservoirs, after the payment of the final installment of the Principal Amount, the Monetary Adjustment Credit will be adjusted in accordance with the IPCA, and the State will pay Sabesp in sixty (60) installments; the individual amounts of the installments will be updated in accordance with the IPCA, plus interest of 0.5% per month.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 12pt 0in 6pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>The proposal was discussed and put to a vote, in accordance with section XIII of Article 13 of the Company&#8217;s Bylaws, with </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>unanimous approval</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif> for the </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Agreement between the State of S&#227;o Paulo, Companhia de</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif> </FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Saneamento B&#225;sico do Estado de S&#227;o Paulo and the Department of Water and Electricity (DAEE).</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 6pt 0in"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>(...)</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; LINE-HEIGHT: normal; MARGIN: 0in 5.65pt 6pt 0in" align=right><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo<BR></FONT><FONT style="FONT-SIZE: 9pt" lang=PT-BR face=verdana,sans-serif>Board of Directors</FONT></P>

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<a name="_bclHeader3"></a><DIV><FONT style="POSITION: relative"></FONT><FONT></FONT><FONT style="FONT-SIZE: 11pt" lang=PT-BR face=Arial,sans-serif><BR clear=all></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=PT-BR face=verdana,sans-serif>&nbsp;</FONT></FONT> <FONT lang=PT-BR><BR clear=all></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>These minutes, after &nbsp;approved, were signed by the Board members Benedito Pinto Ferreira Braga Junior, Alberto Goldman, Claudia Polto da Cunha, Francisco Vidal Luna, Jer&#244;nimo Antunes, </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Jerson Kelman, </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Luis Eduardo de Assis, Reinaldo Guerreiro and Walter Tesch.</FONT></FONT></DIV>

<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 12pt 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>This is a free English translation of the original instrument drawn up in the Book of Minutes of the Board of Directors.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 150%; MARGIN: 0in 0pt 0pt 0in"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>S&#227;o Paulo, March 18, 2015.</FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="LAYOUT-GRID-MODE: line; FONT-SIZE: 10pt" face=verdana,sans-serif>Benedito Pinto Ferreira Braga Junior</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Celina Y. Ozawa</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Chairman of the </FONT></P>

   <P style="TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Board of Directors</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Acting Executive Secretary of the</FONT></P>

   <P style="TEXT-ALIGN: left; LINE-HEIGHT: normal; MARGIN: 0in 0pt 0pt 0in" align=left><FONT style="FONT-SIZE: 10pt" lang=EN-US face=verdana,sans-serif>Board of Directors </FONT></P></TD></TR></TABLE></DIV>

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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>

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

<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;March 25, 2015</FONT></DIV>

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

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

   <TD vAlign=bottom width="53%" align=center>

   <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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